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Saturday, July 16, 2016

???

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3 comments:

Rudy said...

What the fuck was that?

??? indeed.

my name is link said...

"As with so much in our American heritage, there’s a history to the “offshore” world, too. Finding places to shield money from tax collection first became commonplace among upper-crust industrialists, bankers, and even public servants back in the 1920s. Treasury Secretary Andrew Mellon, a millionaire mogul who served presidents Calvin Coolidge, Warren Harding, and Herbert Hoover (and had a knack for cutting taxes on the wealthy), left office under mounting congressional probes into his tax evasion strategies.

Fast-forward about a century and tax dodging has been woven into the fabric of the lives of the affluent and corporate worldwide in an extraordinary way. According to an April 2016 Oxfam report, the top 50 U.S. companies are hoarding more than $1.4 trillion in cash offshore.

What’s more, for every dollar that these firms spent lobbying Congress for “favorable” tax treatment (a collective total of $2.6 billion between 2008 and 2014), they received $130 dollars in tax breaks and $4,000 in subsidies from the U.S. government. These companies, including Pfizer, Goldman Sachs, Dow Chemical, Chevron, Walmart, IBM, and Procter & Gamble, created “an opaque and secretive network” of more than 1,600 company subsidiaries located in tax havens that they decided to disclose. (Because of the weak reporting requirements of the Securities and Exchange Commission, there could be thousands more.) According to a March 3rd report from the Citizens for Tax Justice, the Fortune 500 companies are now saving $695 billion in federal income taxes on a total of $2.4 trillion in offshore holdings"

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"One reason there may be relatively few Americans named in the documents is that it is fairly easy to form shell companies in the United States. James Henry, an economist and senior adviser to the Tax Justice Network, told Fusion that Americans “really don’t need to go to Panama.” “Basically, we have an onshore haven industry in the U.S. that is as secretive as anywhere,” he said."

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"“If we broke up the big banks tomorrow,” Mrs. Clinton asked the audience of black, white and Hispanic union members, “would that end racism? Would that end sexism? Would that end discrimination against the L.G.B.T. community?,” she said, using an abbreviation for lesbian, gay, bisexual and transgender. “Would that make people feel more welcoming to immigrants overnight?”

At each question, the crowd called back with a resounding no."

my name is link said...

"Black Panthers, Skinheads, and Riots Expected at Trump Convention."

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About Me

Born in Vietnam in 1963, I came to the US in 1975, and have also lived in Italy, England and Germany. I'm the author of two books of stories, Fake House (2000) and Blood and Soap (2004), five of poems, All Around What Empties Out (2003), American Tatts (2005), Borderless Bodies (2006), Jam Alerts (2007) and Some Kind of Cheese Orgy (2009), and a novel, Love Like Hate (2010). I've been anthologized in Best American Poetry 2000, 2004, 2007, Great American Prose Poems from Poe to the Present, Postmodern American Poetry: a Norton Anthology (vol. 2) and Flash Fiction International: Very Short Stories From Around the World, etc. I'm also editor of Night, Again: Contemporary Fiction from Vietnam (1996) and The Deluge: New Vietnamese Poetry (2013). Blood and Soap was chosen by Village Voice as one of the best books of 2004. My writing has been translated into Italian, Spanish, French, Dutch, German, Portuguese, Japanese, Korean, Arabic, Icelandic and Finnish, and I've been invited to read in London, Cambridge, Brighton, Paris, Berlin, Leipzig, Halle, Reykjavik, Toronto, Singapore and all over the US. I've also published widely in Vietnamese.