“Sloomy of face,
Snudge of spirit,
Snoachy of speech”
No, it’s not Finnegans Wake, Lewis Carroll or a dyslexic’s best effort at poetry. It’s W. H. Auden’s “A Bad Night,”subtitled “(A Lexical Exercise)”, From Epistle to a Godson (1972)
Read your return. Even if you use a tax pro, the IRS holds you responsible for what you file. Like everyone else, tax pros make mistakes. You should treat your tax pro as your teammate for tax compliance, not your dumping ground.
Corporate tax avoidance Hearing 21 April 2016
Judge Garry Downes: ATO warns 60 multinationals 'enough is enough' on tax avoidance
Canada To Introduce New Anti-Avoidance Measures
PwC and NAB roll out digital platform Airtax in bid to help self-employed and micro-businesses with GST compliance
Canadian Budget Focuses On Tax Compliance
Tax News, 23/3/16. The first Budget tabled by Canada's new Liberal Government provides for a major crackdown on tax evasion and avoidance, and streamlines the domestic tax credits system.
Review — Bleak scene of unequal America Financial Times. Subhead: “Democrat leaders have sacrificed blue-collar workers for elite.”
Her expert teaching and training skills offer readers insights into the role of Google as well as integrative browser add-ons like Lexis Views in preparing students to effectively and comprehensively complete research assignments.
KWM, Mar 2016. The report looks at a range of issues and challenges facing Australian directors and Boards as they strive for growth in 2016 and beyond, covering: talent, digital disruption, corporate culture, stakeholder influence and cross border investment
Facebook, Google and Amazon to be forced to open up tax books by EU Independent
What would a recovery path for the middle class look likeMuch of the competition for American manufacturing has come from China, and recent research has shown that China’s economic impact in the United States has been bigger than many economists initially thought, and in some ways, it has been more painful. China’s manufacturing has held down American middle-class wages, while soaring Chinese demand for commodities has pushed up resource prices. Of course, cheap Chinese imports have made American paychecks go further, but that is no consolation for people who have lost their jobs or suffered lower wages as a consequence.
How CalPERS Was Taken By Private Equity Firm Silver Lake and Tried to Hide That (A Tale of Two Spreadsheets)
In January 2008, CalPERS made what would seem to be a no-lose investment: the purchase of a 9.9% equity interest in Silver Lake Technology Management, which serves as the fund manager, or colloquially, the general partner, for various Silver Lake private equity funds. In her early years as a star analyst, Sallie Krawchek observed, “It’s better to work for a Wall Street firm than invest in one.” That same logic would seem to apply for CalPERS’ participating side-by-side with the firm’s founders in the management company: they would reap rewards akin to those of owner/operators rather than those of ordinary investors
*Adobe Announces Cross-Device Co-op to Enable People-Based Marketing – press release
*Report – Get Personal
*Which is More Important: Cross-Channel or Cross-Device Attribution? – Adobe blog
PWC, 11/4/16. The next generation of family business leaders are well prepared, confident, and above all they have great ambition – both for themselves and for their firms. 88% want to do something special with the business, not just bigger and stronger, but more international, more diversified, and more modern
What does “nuclear terrorism” really mean? Bulletin of the Atomic Scientists
How terrorists groups like ISIS make money Business Insider
Czech out (sic) Feigenbaum and Muller in Lead Exposure and Violent Crime in the Early Twentieth Century. Lead, it ain’t just about Flint Lead Crime
New York Times op-ed: The Real Welfare Cheats, by Nicholas Kristof:
The study was compiled by Oxfam and it comes on top of a mountain of evidence from international agencies and economic journals underscoring the degree to which major companies have rigged the tax code. ... The Oxfam report says that each $1 the biggest companies spent on lobbying was associated with $130 in tax breaks and more than $4,000 in federal loans, loan guarantees and bailouts. ...
Punishment of non-cooperators is important for the maintenance of large-scale cooperation in humans, but relatively little is known about the relationship between punishment and cooperation across phylogeny. The current study examined second-party punishment behavior in a nonhuman primate species known for its cooperative tendencies—the brown capuchin monkey (Cebus apella). We found that capuchins consistently punished a conspecific partner who gained possession of a food resource, regardless of whether the unequal distribution of this resource was intentional on the part of the partner. A non-social comparison confirmed that punishment behavior was not due to frustration, nor did punishment stem from increased emotional arousal. Instead, punishment behavior in capuchins appears to be decidedly social in nature, as monkeys only pursued punitive actions when such actions directly decreased the welfare of a recently endowed conspecific. This pattern of results is consistent with two features central to human cooperation: spite and inequity aversion, suggesting that the evolutionary origins of some human-like punitive tendencies may extend even deeper than previously thought.
Another of those crazy free market Republicans got space in the Des Moines Register, in Iowa keeps picking losers; let the market decide, instead. A sample:
Markets are good at picking business winners, and government is generally lousy. Consider three Iowa examples.
Film tax credits. What did the Legislature know about the movie business? Nothing! But that didn’t stop us from throwing money in: $26 million in improperly awarded tax credits. Multiple fraud convictions.So who was this wild-eyed impractical free market fundamentalist? It’s Senator Herman Quirmbach, a Democrat from Ames. He’s such a free market fundamentalist that he has a 100% lifetime rating from the AFL-CIO, that noted nest of libertarians. Yet he is more sound in tax credit policy than any Republican legislator. He voted against the Iowa Renewable Biochemical credit, unlike every one of his GOP colleagues. He explains:
The Fund of Funds. Iowa legislators played at being financial tycoons. Too bad no legislator had any expertise. A Rube Goldberg scheme with money and tax credits flowing here and there. Never mind the complexity, the Legislature plunged ahead. After all, it wasn’t legislators’ money that was at risk, just the taxpayers’.
In the end, the Fund of Funds came a cropper, too. Thank goodness for Tom Miller. The attorney general’s skillful negotiating limited the damage.
Orascom and its new the fertilizer plant. The Executive Branch can screw up, too.
Markets do much better. Private investors either have expertise in the business or get it before they invest. Why? Because they are voluntarily investing their own cash. If, despite the best expertise, investors pick a loser, they lose their money, not yours. If they win, they own a piece of the business.Exactly right. The lack of a single GOP legislator who agrees goes a long way towards explaining why Iowa has such an awful business tax climate.
In short, the market creates the right incentives.
Let’s apply these lessons to the Renewable Chemical Production Tax Credit bill, which the governor just signed. These businesses intend to turn next-to-worthless “biomass feedstock” into something of actual market value.
Sounds interesting, but what do we know? When I asked if anybody in the Iowa Senate was a chemical engineer, nobody’s hand went up. Again, we are investing the taxpayers’ money, not our own. And, if it should happen to turn out a winner, the taxpayers won’t own a piece of the business.
Related: TAKING YOUR WIFE’S PURSE TO BUY DRINKS FOR THE GIRLS.