By Michael Krieger:“A Luxembourg structure is a way of stripping income from whatever country it comes from,’’ said Stephen E. Shay, a professor of international taxation at Harvard Law School and a former tax official in the U.S. Treasury Department. The Grand Duchy, he said, “combines enormous flexibility to set up tax reduction schemes, along with binding tax rulings that are unique. It’s like a magical fairyland.” The deals can be so complex that PwC accountants frequently include “before” and “after” diagrams to illustrate how money flows from subsidiary to subsidiary and across different countries and tax havens. The leaked records show that Luxembourg’s 2009 tax deal for Illinois-based Abbott Laboratories – which makes arthritis drugs and Ensure meal replacement shakes –features 79 steps including companies in Cyprus and Gibraltar. Abbott projected it would invest as much as $50 billion via Luxembourg. More than 170 of the Fortune 500 companies have a Luxembourg branch, according to Citizens for Tax Justice, a nonprofit research and advocacy group. A total of $95 billion in profits from American corporations’ overseas operations flowed through Luxembourg in 2012, the most current statistics from the U.S. Bureau of Economic Analysis show. On those profits, corporations paid $1.04 billion in taxes to Luxembourg – just 1.1 percent.
corbettreport:Military tensions, cyber espionage accusations, a brewing currency war; with every passing day, the headlines paint a convincing portrait of an emerging cold war between China and the West. But is this surface level reality the whole picture, or is there a deeper level to this conflict? Is China an opponent to the New World Order global governmental system or a witting collaborator with it? Join us in this in-depth edition of The Corbett Report podcast as we explore China's position in the New World Order.
The best of times, the worst of times - depending upon which side of castle walls one lives. On one side of the walls (where times are worst), a man who could previously command a wage must now work for free. On the other side of the wall (where times are best), the richest people in the world seek monoculture and copyright cartelsand the most famous couple (for the moment) want to copyright big bottom selfies. In the second half Max interviews Robert Kennedy Jr about Waterkeeper Alliance, US elections, fracking and the future of democracy.
There are a lot of tax havens in Europe. But they pale against the City of London. By Don Quijones: For a tiny country of just 500,000 inhabitants, the Grand Duchy of
Luxembourg is getting a heck of a lot of international attention these
days. And certainly not of the welcome kind. At the beginning of this
week, the Washington-based International Consortium of Investigative
Journalists (ICIJ) published tens of thousands of documents that finally
shed light on one of the world’s most important and most secretive tax
havens – at least until now.
The picture that emerges is one of endemic tax avoidance and evasion
that has helped transform Luxembourg into the world’s richest country on
a per capita basis. The country also boasts the world’s highest ratio
of bankers to inhabitants – a staggering 1:21. Thanks to the revelations, we have learned that:
Hundreds of European and global transnationals, including Accenture
(the former auditing arm of Arthur Andersen), IKEA, Burberry, FedEx,
Blackstone, Deutsche Bank, H.J. Heinz, JP Morgan Chase, Procter &
Gamble and HSBC, have signed sweetheart deals (endearingly titled
comfort letters) with Luxembourg’s tax authorities that effectively
allow them to avoid taxes in the countries where they rack up their
profits. In some cases they have paid tax on profits of just 1%.
The “Big Four” accountancy firms – PwC, Ernst & Young, Deloitte
and KPMG – served as the frontline architects of Luxembourg’s tax
avoidance system. According to PwC, which is alleged to have helped
corporations like Pepsi and IKEA reduce their tax bills by billions of
euros, ICIJ’s reporting is based on “outdated” and “stolen” information,
“the theft of which is in the hands of the relevant authorities.”
Sandman: Someone suggested that I cover Esther Vilar the author of the Manipulated Man and do a video on her for my god among mgtow series. I look at this as part one of two part series. The second part will be a book review of her seminal work. But in this part I'm going to talk about her personal life, struggles with her famous book that many of us MGTOWs have already read, called the manipulated man. Why did she choose to write this book? Why did she try to reveal to men the controlling nature of women?
By Allan Anderson:As the Ebola outbreak grows and panic in the US increases, I am struck by the similarities and lessons to be drawn in our handling of “sexual violence” and perhaps other men’s issues. Both Ebola and rape are greatly feared, the cause largely invisible, with even the number of victims uncertain. Both are subject to a wide range of beliefs, some superstitious, some more scientific or “reality-based.” Many varied responses offer some illusion of knowledge, but in fact great uncertainty remains. The mind craves certainty in the presence of threat and fear. Everyone you meet today could be carrying the deadly Ebola virus. Every man (or woman?) is a potential rapist. We have an epidemic of campus rape. Or it’s a judgment from God. Or spread by Western healthcare workers or witchcraft. Or … not. It’s all a hoax. Fear and uncertainty are the only certainty. Epidemiologist Michael Osterholm, in a New York Times op-ed piece and a talk at Johns Hopkins Bloomberg School of Public Health, shockingly said, “Ebola has the potential to alter history as much as any plague has ever done.” Wow. He also made some key points in how to stay credible and effective in this environment: admit what you don’t know, avoid dogma, and prepare for and expect the unexpected. He remarks that the greatest obstacle to discovering the shape of the Earth was not ignorance but the illusion of knowledge. He quotes and paraphrases the famous physicist Richard Feynman to say that an effective public health response requires that reality must take precedence over public relations because nature cannot be fooled.
Feminism LOL:Canadian feminists are intent on destroying the rule of law. In that aim, mental illness should be discarded as “normal” or “non mental-disordered” when a woman kills a man. Elizabeth Sheehy has convinced me of one thing: women are mentally ill.
Published in Ayn Rand’s “Objectivist” newsletter in 1966, and reprinted in her book, Capitalism: The Unknown Ideal, in 1967.
By Alan Greenspan:An almost hysterical antagonism toward the gold standard is one issue
which unites statists of all persuasions. They seem to sense — perhaps
more clearly and subtly than many consistent defenders of laissez-faire —
that gold and economic freedom are inseparable, that the gold standard
is an instrument of laissez-faire and that each implies and requires the
other. In order to understand the source of their antagonism, it is
necessary first to understand the specific role of gold in a free
society. Money is the common denominator of all economic transactions. It is
that commodity which serves as a medium of exchange, is universally
acceptable to all participants in an exchange economy as payment for
their goods or services, and can, therefore, be used as a standard of
market value and as a store of value, i.e., as a means of saving. The existence of such a commodity is a precondition of a division of
labor economy. If men did not have some commodity of objective value
which was generally acceptable as money, they would have to resort to
primitive barter or be forced to live on self-sufficient farms and forgo
the inestimable advantages of specialization. If men had no means to
store value, i.e., to save, neither long-range planning nor exchange
would be possible.