asterisk2a + taxevasion   64

British overseas territories in talks to keep tax haven secrecy | World news | The Guardian
Leaders of British overseas territories are to hold two days of showdown talks with ministers in an attempt to reverse the UK government’s decision to end secrecy for offshore tax havens.

British Virgin Islands (BVI), Bermuda, Cayman Islands and Turks and Caicos Islands,

An unexpected vote by MPs at the beginning of May to impose public registers of share ownership in all the BOTs has triggered angry resistance including street protests, boycotts of the Queen’s birthday celebrations, and even demands for constitutional separation.
UK  Tories  tax  evasion  Great  Britain  offshore  avoidance  taxevasion  taxavoidance  HMRC  Europe  heaven  British  Virgin  Islands  Bermuda  Cayman 
june 2018 by asterisk2a
Shares in UK government contractor Capita plunge 40% after profit warning | Business | The Guardian
Major UK outsourcing group stuns City with profits warning, as new CEO admits the company is too complex and freezes its shareholder dividend. 10.30am: Shares down 42% at 15-year low. New CEO says company must change. Capita wants to raise £700m from shareholders. Worries over £381m pensions deficit
Carillion  Capita  Privatisation  UK  Austerity  Council  NHS  Prison  outsourcing  pension  scheme  bailout  TBTF  taxevasion  taxavoidance  CEO  pay  shareholder  dividends  working  poor  sub-contractor  contractor  Precariat  insecurity 
january 2018 by asterisk2a
Paxman interviews economist Thomas Piketty - Newsnight - YouTube
IT IS ALL A MATTER OF DEGREE. thus you have to marry liberalism & conservatism, throw the junk out. u get liberal-conservatism. The rise of the working poor & squeezed middle class had not been good 4 economic growth & vitality. || +Thomas Piketty on Wealth, Income and Inequality >> watch?v=zytqTSh3oGw || + http://www.huffingtonpost.com/2014/05/01/thomas-piketty-cold-war_n_5247373.html || + http://www.npr.org/2014/05/11/310784652/on-income-inequality-a-french-economist-vs-an-american-capitalist << Edward Conard WRONG! || +++ What the 1% Don't Want You to Know with Paul Krugman - watch?v=QzQYA9Qjsi0 "All men are created equal" NO MORE. 'commanding heights' >> https://www.youtube.com/results?search_query=commanding+heights+documentary + market income inequality vs disposable income inequality http://bit.ly/1ollCVp ... "We live in such an ugliness in America." || Wealth Concentration is a agglomeration of Politica & Public Policy Power. || + Robert Reich >> v=q-rpkZe2OEo || v=heOVJM2JZxI
Thomas  Piketty  economic  history  inequality  income  inequality  income  mobility  social  mobility  Gini  coefficient  gender  inequality  gender  equality  equality  book  extremism  extrem  economics  ethics  moral  beliefs  trickle-down  economics  corporate  governance  governance  democracy  Politics  Career  Politicians  lobby  Lobbying  lobbyist  Political  System  accountability  transparency  income  redistribution  wealth-distribution  transferring-wealth  wealth  distribution  GDP  Super  Rich  property  rights  crony  capitalism  capitalism  working  poor  squeezed  middle  class  middle  class  josephstiglitz  Joseph  Stiglitz  paulkrugman  Paul  Krugman  Robert  Reich  disposable  income  wealth  redistribution  transfering  wealth  social  safety  net  Grundeinkommen  tax  credit  tax  free  income  Unconditional  Basic  UBE  progressive  kalte  Progression  coldprogression  history  trustagent  distrust  trust  confidence  Mobile  Creatives  Mobile  Creative  skill-biased  technological  change  skill  skills  capital  skills  knowledge  worker  White-collar  Blue-collar  taxevasion  taxavoidance  net  wealth  offshore  banking  extreme  concentration  of  wealth  happiness  happiness  index  G  Zero  G20  global  registery  of  financial  assets  corruption  job  creation  on  job  training  job  market  Patrimonialism  patrimonial  capitalism  eureka  wealth  working  inher 
may 2014 by asterisk2a
BBC News - Take That stars could face tax bill of millions after court decision
'Dodging tax obligations' Judge Bishopp said in his ruling: "The underlying, and fundamental, conclusion we have reached is that the Icebreaker scheme is, and was known and understood by all concerned to be, a tax avoidance scheme." [...] In a statement, they said: "HMRC has put in place generous reliefs to support genuine business investment and our tax reliefs for the creative industries work well, enabling the UK's world-class film, television and video production companies to compete on the global stage. "But we will not tolerate abuse of the system by people trying to dodge their tax obligations.
taxavoidance  tax  avoidance  taxevasion  tax  evasion  HMRC  UK  public  policy  tax  code  subsidies  subsidizing 
may 2014 by asterisk2a
Uli Hoeneß: Das Verhalten des Steuersünders vor Gericht - SPIEGEL ONLINE
In dieser kleinen Szene offenbarten sich Hoeneß' Persönlichkeit und die Choreografie des Prozesses. Denn es ist nicht anders denkbar, als dass Hoeneß und sein hochbezahltes Anwaltsteam sich im Vorfeld sehr genau überlegt haben, wie sie den Mandanten vor Gericht und in der Öffentlichkeit erscheinen lassen wollen: als einen guten Menschen, dem irgendwann die Kontrolle entglitt, als einen Getriebenen, der nicht mehr wusste, was mit seinem Geld passierte und deshalb keine Konsequenzen überriss. + Peter Bizers Buch "Uli Hoeneß - Nachspiel" lesen.
Uli  Hoeneß  Uli  Hoeness  PR  public  relations  Life  taxevasion  book 
march 2014 by asterisk2a
INEQUALITY FOR ALL - Upward Mobility on Vimeo
This is a clip from the Robert Reich film "Inequality for All." You can see or order the whole film here. It's also available to watch instantly on Amazon, or you can get the DVD from Netflix. It is truly worth your time to see the whole movie — I promise! Fact-checks by Robert Reich's very capable crew. + http://youtu.be/QPKKQnijnsM - Twitter user GroteMond has rightly pointed out that socialism isn't technically equal distribution of wealth. However, in the case of this video, the video creator is referring to the majority of Americans' perception of what socialism is, not what it actually is. So yes, there's yet another thing we are generally misinformed about. + http://youtu.be/qSjGouBmo0M USA Healthcare + http://youtu.be/ZuhYRZRfTuY
social  mobility  Robert  Reich  income  inequality  USA  economic  history  Higher  Education  formal  UK  Gini  coefficient  babyboomers  Millennials  economics  Career  Politicians  Politics  accountability  middle  class  squeezed  middle  class  Debt  Super  Cycle  prosperity  documentary  public  policy  policy  error  policy  folly  courage  Toff  Perception  reality  wealth  distribution  occupywallstreet  Super  Rich  taxation  taxevasion  corruption  healthcare 
february 2014 by asterisk2a
Bankgeheimnis: Luxemburg will auch Daten von Großkonzernen rausgeben - SPIEGEL ONLINE
Luxemburg macht ernst mit dem Abschied vom Steuerparadies. Das Großherzogtum sei offen dafür, auch Informationen großer Konzerne weiterzugeben, sagte der luxemburgische Finanzminister Luc Frieden der "Financial Times". Die Ankündigung hat es in sich. Denn bislang hatte Luxemburg nur eingewilligt, ab 2015 Informationen zu Zinserträgen von EU-Bürgern an die jeweiligen Heimatbehörden mitzuteilen, damit die Zinserträge "nach den Rechtsvorschriften letzterer Mitgliedstaaten effektiv besteuert werden". Ausländische Firmen, die ihren Sitz in Luxemburg haben, sollten von der Lockerung des Bankgeheimnisses nicht betroffen sein. Nun könnte auch diese Bastion fallen.
offshore  banking  Luxembourg  taxevasion 
april 2013 by asterisk2a
Bankgeheimnis: 47.000 Steuerbetrüger zeigen sich selbst an - SPIEGEL ONLINE
47.294 Fiskusbetrüger in Deutschland hätten sich seit Anfang 2010 selbst angezeigt, berichtet die Wochenzeitung unter Berufung auf die 16 Landesfinanzbehörden der Bundesrepublik. Insgesamt 2,05 Milliarden Euro hätten die Steuerflüchtlinge ans Finanzamt nachgezahlt.
2013  Germany  taxevasion 
april 2013 by asterisk2a
Staatsanwaltschaft erließ Haftbefehl gegen Hoeneß - SPIEGEL ONLINE
Am Dienstagabend meldete sich am Rande seines Saarland-Besuchs auch Joachim Gauck zu den Vorwürfen gegen Hoeneß zu Wort: Gegenüber dem Saarländischen Rundfunk sagte der Bundespräsident, er werde "keine moralische Verurteilung vornehmen." Sein Interesse sei vielmehr, "dass wir aus solchen Fällen lernen und begreifen: Zu einer funktionierenden Demokratie gehört die Bereitschaft aller, etwas dazu beizutragen. Wir können nicht wählen, ob wir Steuern zahlen, jedenfalls nicht legal." Es gehöre "zur Verantwortung eines mündigen Bürgers, Pflichten zu akzeptieren", so Gauck weiter. "Es gehört zu einer gewachsenen Bürgerkultur, dass wir uns mitverantwortlich fühlen. Dieses Element der Mitverantwortung sollte jeder im Kopf haben, der manchmal über zu hohe Steuern stöhnt." Gauck äußerte sich auch zur Vorbildfunktion von Uli Hoeneß und sagte, Menschen seien nicht fehlerfrei, aber bei Personen, die im Fokus stünden, fielen "Fehler ganz besonders auf". Gauck fügte hinzu: "Wenn Vorbilder ihren Vorbi
billgates  role  model  taxation  moral  society  ethics  civic  culture  markzuckerberg  taxevasion  JoachimGauck  larryellison  Uli  Hoeness  democracy  warrenbuffet  culture  responsibility 
april 2013 by asterisk2a
Neue Steuer CD löst bundesweite Razzien aus - SPIEGEL ONLINE
tax evasion becomes less tasty. except you are a fortune 500 company and funnel your money through a dozen of mailbox companies. UK and Germany have deals with Switzerland. More to come.
offshore  banking  CaymanIslands  Cyprus  UK  Germany  taxevasion  Switzerland 
april 2013 by asterisk2a
Steuerparadies: Zypern ist überall - YouTube
- Europe got half a dozen low tax countries, which people with money and corporations use. Europe is one big mess. Tax policy across Europe is one.
Politics  economic  history  Europe  Laiki  Bank  taxevasion  Policy  Error  bail-in  offshore  banking  Troika  banking  crisis  Cyprus  political  folly  Bank  of  Cyprus  crisis  folly 
april 2013 by asterisk2a
Audioboo / What are the implications of the Cyprus deal?
http://www.zerohedge.com/news/2013-03-25/think-tank-cyprus-saved-what-cost Laiki bank will be fully resolved – it will be split into a good bank and bad bank. The good bank will merge with the Bank of Cyprus (which will also take on Laiki’s circa €8bn Emergency Liquidity Assistance – a last-resort funding system outside the usual ECB operations). The bad bank will be wound down over time with all uninsured depositors (over €100,000) taking significant losses (no percentage yet but some could lose all their money above the threshold). >> Germany has made it clear that it is no longer willing to foot the bill for extensive bailouts without the recipient country taking a share of the burden and making some radical changes.
angelamerkel  Wolfgang  Schäuble  Europe  unintended  consequences  taxevasion  European  Commission  Laiki  Bank  sovereign  debt  crisis  bail-in  offshore  banking  Troika  ELA  banking  crisis  ECB  Cyprus  crisis  Bank  of  Cyprus  Germany  democracy  bailout  IMF 
march 2013 by asterisk2a
BBC News - Budget 2013 at a glance: George Osborne's key points
STATE OF THE ECONOMY :: Forecast growth of 0.6% in 2013, downgraded from 1.2% in December. But Office for Budget Responsibility predicts UK will escape recession this year. Growth predicted to be 1.8% in 2014; 2.3% in 2015; 2.7% in 2016 and 2.8% in 2017. BORROWING :: Borrowing of £114bn this year, up from previous £108bn forecast. Borrowing set to fall to £108bn, £97bn and £87bn, £61bn and £42bn in subsequent years. Corporation tax to be cut by 1% to 20% in 2015. Tax avoidance and evasion measures, including agreements with Isle of Man, Guernsey and Jersey, aimed at recouping £3bn in unpaid taxes. - BOE remit to be changed to focus on growth as well as inflation. -
budget  monetary  policy  2013  Mark  Carney  fiscal  policy  stagflation  UK  taxevasion  austerity  davidcameron  BOE  budget2013  greatdepression  MervynKing  GeorgeOsborne  greatrecession 
march 2013 by asterisk2a
Griechenland: Steuerfahndern fehlen Computer und Büros - SPIEGEL ONLINE
Rund 55 Milliarden Euro schulden griechische Bürger dem Fiskus. Doch der Kampf gegen die Steuerflucht kommt laut einem Bericht von IWF und EU kaum voran: Viele Beamte der Steuerfahndung haben weder einen Computer noch einen richtigen Arbeitsplatz.
austerity  Troika  PIIGS  Greece  2013  corruption  taxevasion  IMF 
february 2013 by asterisk2a
1&1-Gründer Dommermuth kritisiert Googles Steuertricks - SPIEGEL ONLINE
"Es ist nicht fair, dass sich Weltkonzerne wie Apple und Google in Europa arm rechnen": Der 1&1-Gründer und Internet-Milliardär Ralph Dommermuth kritisiert im SPIEGEL die Steuertricks der Branchenriesen. Er fordert die Bundesregierung auf, Maßnahmen dagegen zu ergreifen.
Apple  Google  taxevasion  microsoft 
february 2013 by asterisk2a
Aus für Traditionsbank Wegelin bedroht Schweizer Finanzbranche - SPIEGEL ONLINE
Zum ersten Mal hat eine Schweizer Bank gestanden, Amerikanern beim Steuerbetrug geholfen zu haben - das Traditionshaus Wegelin zahlt dafür mit seiner Existenz. Auch großen Instituten drohen teure Verfahren. Der Streit könnte zum Ende des Bankgeheimnisses führen.

[...] Bankenexperte Kunz vermutet, dass Wegelin sich den US-Behörden als eine Art Kronzeuge angedient hat - und so die Höhe der Strafe drücken konnte. "Ich hätte mit einer höheren Summe gerechnet", sagt Kunz. Die Bank wollte zu diesem Vorwurf auf Nachfrage nicht Stellung nehmen.

- UK came into agreement w Swiss
- GER came into agreement w Swiss
- France is introducing +75% tax rate for the wealthy
Julius  Bär  Credit  Suisse  sovereign  debt  crisis  2013  2012  GFC  greatrecession  society  culture  France  UK  we  are  all  in  it  together  austerity  Germany  Bankgeheimnis  Schweizer  Bankgeheimnis  taxevasion  USA  bank  crisis  banking  crisis  Switzerland  Wegelin 
january 2013 by asterisk2a
BBC News - Starbucks 'paid just £8.6m UK tax in 14 years'
Starbucks had generated over £3bn in UK sales since 1998 but had paid less than 1% in corporation tax.

[...]

Campaigner Richard Murphy from Tax Research UK, who was consulted by the Reuters team as part of its investigation, said: "Starbucks are playing the game here. This is tax avoidance, they're doing nothing illegal. That doesn't mean to say it's right, in my opinion," he told BBC Radio 5 live.
ethics  moral  tax-system  tax-code  taxevasion  starbucks  corporate  culture  corporate  governance 
october 2012 by asterisk2a
BBC tells stars to dodge tax: Workers face the ultimatum, go off the books or face the sack | Mail Online
"A corporation source acknowledged that some workers were effectively being forced to comply with the legal tax dodge.

[...] A top celebrity agent said the BBC used the practice to avoid paying national insurance, pension contributions and other benefits due to regular staff. The agent said many presenters ended up paying more tax than if they were on staff contracts."

Not Cool, ... BBC highest paid (incl Paxman) use legal work-around to reduce tax bill and insurance contributions.
While at the same time coming down hard on, arguably more crummy, tax practises like tax havens.

But if I remember well, Newsnight DID report on UCAS CEO who uses as well a services company to reduce tax bill and insurance contributions. As others do as well ...

Read more: http://www.dailymail.co.uk/news/article-2177433/BBC-tells-stars-dodge-tax-Workers-face-ultimatum-books-face-sack.html#ixzz21TSMc8Sy
transparency  taxation  taxevasion  moralhazard  ethnics  double-standard  corporate  governance  BBC 
july 2012 by asterisk2a
Pension Pulse: Rottenness of the World?
On that gloomy note, I leave you by recommending Joe Nocera's New York Times article, Sheila Bair’s Bank Shot. Like Brooksley Born, Ms. Bair tried to do the right thing but she realized her efforts are futile. The reality is that no matter what measures regulators implement to reign in banks, the rottenness of the world always prevails.
society  culture  inequality  wallstreet  lobby  lobbyist  Lobbying  interestgroups  money  power  politics  accountability  fraud  taxevasion  capitalism  corporate  crisis  sovereign  debt  GFC  sheilabair  brooksleyborn  larrysummers  greenspan  robertrubin  policy  folly 
july 2011 by asterisk2a
Corporate Tax Avoidance | zero hedge
“The social crisis facing the country as a result of the most egregious plundering in modern American history will spell the end of the “high end” theme. Buying into this trend now is like getting long Marie Antoinette’s unsevered head in 1792.”
USA  corporate  taxevasion  2011  taxation  loopholes  fraud  capitalism  lobby  lobbyist  Lobbying  inequality 
july 2011 by asterisk2a
Over The Past 4 Years News Corp Generated $10.4 Billion In Profits And Received $4.8 Billion In "Taxes" From The IRS | zero hedge
News Corp, which after generating $10.4 billion in profits over the past 4 years, and which would have been expected to pay the IRS $3.6 billion at the statutory corporate tax rate, instead received $4.6 billion back from Uncle Sam. Bottom line: Murdoch's corporation had a cash paid tax rate of -46% between 2007 and 2010. The culrpit: two little somethings called Deferred Tax Assets and Net Operating Loss Carry-forwards.
IRS tax loopholes as deferred tax assets and NOL carryforward? Not entirely.
+ Hundreds of Offshore Accounts.

News Corp. has 152 subsidiaries in tax havens, including 62 in the British Virgin Islands and 33 in the Caymans. only Citigroup and Morgan Stanley have more tax haven subsidiaries than News Corp., a 2009 U.S. Government Accountability Office study found.

However, in the interest of objectivity, News Corp. is merely one of many corporate transgressors who take full advantage of the massive loopholes in America's tax code.
USA  taxation  taxevasion  corporate  tax  newscorp  rupertmurdoch  offshore  IRS  barackobama  presidency  2011  fraud 
july 2011 by asterisk2a
New Swiss Tax Rules Signal Big Changes for Private Banks (NYT)
New Swiss Tax Rules Signal Big Changes for Private Banks (NYT)
Switzerland aims to sign new treaties by the summer with Germany and Britain under which their citizens would pay taxes on more of their undeclared assets in Swiss banks. France and Italy are expected to follow suit.
taxevasion  Switzerland  UK  germany 
april 2011 by asterisk2a
GE Says Report on Returning $3.2 Billion to Treasury a Hoax - Bloomberg
Immelt, who is also chairman of GE, commented after a March 24 report in the New York Times that GE had a tax bill of zero in 2010, an assertion the company called misleading on its GE Reports website.
GE refuted the tax bill claim specifically and said the company received no rebate, refund or payment from the government on its 2010 taxes.

Immelt is on business programm from Obama.
GE  generalelectric  2011  tax  taxevasion  USA  taxation  subsidizing  business  presidency  barackobama 
april 2011 by asterisk2a
G.E.s Strategies Let It Avoid Taxes Altogether - NYTimes.com
A stark example of the fundamental unfairness that is now so widespread was in The New York Times on Friday under the headline: “G.E.’s Strategies Let It Avoid Taxes Altogether.” Despite profits of $14.2 billion — $5.1 billion from its operations in the United States — General Electric did not have to pay any U.S. taxes last year.
As The Times’s David Kocieniewski reported, “Its extraordinary success is based on an aggressive strategy that mixes fierce lobbying for tax breaks and innovative accounting that enables it to concentrate its profits offshore.”
G.E. is the nation’s largest corporation. Its chief executive, Jeffrey Immelt, is the leader of President Obama’s Council on Jobs and Competitiveness. You can understand how ordinary workers might look at this cozy corporate-government arrangement and conclude that it is not fully committed to the best interests of working people.
taxevasion  lobby  lobbyist  Lobbying  capitalism  tax  USA  GE  jeffreyimmelt  2011  leadership  fraud  barackobama  presidency 
march 2011 by asterisk2a
Losing Our Way - NYTimes.com
Welcome to America in the second decade of the 21st century. An army of long-term unemployed workers is spread across the land, the human fallout from the Great Recession and long years of misguided economic policies. Optimism is in short supply. The few jobs now being created too often pay a pittance, not nearly enough to pry open the doors to a middle-class standard of living.

The U.S. has not just misplaced its priorities. When the most powerful country ever to inhabit the earth finds it so easy to plunge into the horror of warfare but almost impossible to find adequate work for its people or to properly educate its young, it has lost its way entirely.

The current maldistribution of wealth is also scandalous. In 2009, the richest 5 percent claimed 63.5 percent of the nation’s wealth. The overwhelming majority, the bottom 80 percent, collectively held just 12.8 percent.
USA  lostdecade  middleclass  decade  greatrecession  monetary  fiscal  policy  presidency  barackobama  war  Iraq  Afghanistan  Libya  Fed  society  culture  inequality  poor  rich  politics  leadership  GE  jeffreyimmelt  tax  taxevasion 
march 2011 by asterisk2a
Truckers hit France for cheap fuel | City A.M.
BRITISH hauliers are filling up their vehicles in France in a bid to avoid soaring diesel costs at home, losing the UK an estimated £1.2bn in tax every year, petrol retailers claimed yesterday.Truck manufacturers are even building vehicles with bigger tanks so that drivers can fill-up with as much foreign, cheaper diesel as possible.The diesel price has steadily risen and rather than just trucks it is now used in high performance cars thanks to improved technology.With diesel costing up to £1.47 a litre in the UK, the companies are getting their fuel at an average of 20 per cent cheaper in places like Calais, according to the RMI Independent Petrol Retailers Association. Chairman Brian Madderson said: “This is another example of a government own goal. Its fuel policies are directly contributing to a reduced tax opportunity for the treasury.The RMI estimates that the figures translates to £1.2bn lost in VAT for the treasury if all items bought in petrol stations are taken into account.
economics  VAT  2011  UK  markets  borders  unintended  consequences  liberal  tax  taxation  taxevasion 
february 2011 by asterisk2a
Seeking Bank Secrecy in Asia - NYTimes.com
For centuries, Switzerland has been the sanctuary of choice for wealthy people seeking to hide their fortunes and evade taxes. Now, amid a growing crackdown on Swiss private banking, the rich are flocking to Singapore and Hong Kong, which still offer some of the world’s most secret accounts.

But there is a twist in this shift to the East: Many of the banks growing in these low-tax oases have Swiss pedigrees. And their clients are not only Asia’s growing number of millionaires but also wealthy Americans and Europeans who, lawyers say, have been spooked by mounting scrutiny from the tax authorities in their own countries.

UBS, the largest bank in Switzerland, has lost an estimated 200 billion Swiss francs, or about $200 billion, in assets from private banking clients over the past two years. But in Asia, it has won more new money than it has lost, according to an August presentation to investors by the bank’s chief executive of wealth management, Jürg Zeltner.
UBS  Switzerland  swiss  banksecret  USA  Europe  Germany  taxevasion  hongkong  singapore 
september 2010 by asterisk2a
Oil Companies Reap Billions From Subsidies - NYTimes.com
But an examination of the American tax code indicates that oil production is among the most heavily subsidized businesses, with tax breaks available at virtually every stage of the exploration and extraction process.

According to the most recent study by the Congressional Budget Office, released in 2005, capital investments like oil field leases and drilling equipment are taxed at an effective rate of 9 percent, significantly lower than the overall rate of 25 percent for businesses in general and lower than virtually any other industry.
usa  subsidizing  oil  exploration  oil-spill  BP  taxevasion  government  lobby 
july 2010 by asterisk2a
More American Expatriates Give Up Citizenship - NYTimes.com
American expats have long complained that the United States is the only industrialized country to tax citizens on income earned abroad, even when they are taxed in their country of residence, though they are allowed to exclude their first $91,400 in foreign-earned income.
usa  taxation  taxevasion  2010 
april 2010 by asterisk2a
It's Official - America Now Enforces Capital Controls | zero hedge
One thing we are confused about is whether this law is a preamble, or already incorporates, the flow of non-cash assets, such as commodities, and, thus, gold. If an account transfers, via physical or paper delivery, gold from a domestic account to a foreign one, we are not sure if the language deems this a 30% taxable transaction, although preliminary discussions with lawyers indicates this is likely the case.

And so the noose on capital mobility tightens, as very soon the only option US citizens have when it comes to investing their money, will be in government mandated retirement annuities, which will likely be the next step in the capital control escalation, which will culminate with every single free dollar required to be reinvested into the US, likely in the form of purchasing US Treasury emissions such as Treasuries, TIPS and other worthless pieces of paper.

Congratulations bankrupt America - you are now one step closer to a thoroughly non-free market.

--- see comments for mo
capital  control  banks  financial  money  usa  finance  personal  taxation  swiss  swizerland  SWIFT  regulation  reform  2010  taxevasion 
april 2010 by asterisk2a
BBC NEWS | World | Europe | Rich Germans demand higher taxes
"The path out of the crisis must be paved with massive investment in ecology, education and social justice," they say in the petition.

Those who had "made a fortune through inheritance, hard work, hard-working, successful entrepreneurship, or investment" should contribute by paying more to alleviate the crisis.

The man behind the petition, Dieter Lehmkuhl, told Berlin's Tagesspiegel that there were 2.2 million people in Germany with a fortune of more than 500,000 euros.

If they all paid the tax for two years, Germany could raise 100bn euros to fund ecological programmes, education and social projects, said the retired doctor and heir to a brewery.

Signatory Peter Vollmer told AFP news agency he was supporting the proposal because he had inherited "a lot of money I do not need".

He said the tax would be "a viable and socially acceptable way out of the flagrant budget crisis".
germany  tax  government  wealth  economy  taxes  taxevasion  rich  recession 
october 2009 by asterisk2a

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