Thursday, July 08, 2021

The Ultrawealthy Have Hijacked Roth IRAs. The Senate Finance Chair Is Eyeing a Crackdown

 Neoliberalism’s Bailout Problem Boston Review

Leandra Lederman (Indiana; Google Scholar), The Fraud Triangle and Tax Evasion, 106 Iowa L. Rev. 1153 (2021):

The “fraud triangle”—a theory of why people commit fraud—is the preeminent framework for analyzing fraud in the accounting literature. It developed out of studies of fraudsters, including inmates convicted of embezzlement. The three components of the fraud triangle are (1) an incentive or pressure (usually financial), (2) opportunity, and (3) rationalization.

There is a separate, extensive legal literature on tax compliance and evasion. The fraud triangle is largely absent from this legal literature, although tax evasion is a type of fraud. This Article rectifies that oversight, analyzing how using the fraud triangle as a lens can inform the legal literature on tax compliance. In addition, the Article argues that the fraud triangle can provide a conceptual frame that provides a place for two distinct types of tax compliance theories discussed in the legal literature: the traditional deterrence model and certain behavioral theories.

The Business Scholarship Podcast interviewed Leandra about her article here.

Trump suffering Dunning Kruger syndrome as he did not realise that going for president his blatant tax evasion would expose all his crime

Trump Organisation, CFOplead not guilty to running 15-year tax fraud scheme

The Ultrawealthy Have Hijacked Roth IRAs. The Senate Finance Chair Is Eyeing a Crackdown.ProPublica

Artificial Intelligence Has Caused A 50% To 70% Decrease In Wages—Creating Income Inequality And Threatening Millions Of JobsForbes

University of California Student Researchers Are Forming a Union of More Than 17,000 Teen Vogue

A Fight Over Union Democracy at The New York Times Payday Report

Amazon crushed the Alabama union drive – can the Teamsters do better? Guardian

Evictions Aren’t Just a Symptom of Poverty — They’re a Cause of It Jacobin

The Rent’s Too Damned High Cory Doctorow

UFO Report Provides No New Information But Plenty Of Fodder For Cold Warrior PolicymakersCaitlin Johnstone

Read the Pentagon’s Big Declassified UFO Report Right Here Gizmodo


Streamlining significant new investment into Australia

Assistant Commissioner Christopher Ferguson talks about how our New Investment Engagement Service can help businesses planning significant new investments in Australia.

Top 500 program insights
Read what Assistant Commissioner Ash Khera had to say on our first ever report on the tax compliance of Australia’s top 500 wealthiest private groups.

Klaatu barada nikto

Aliens in the age of anxiety

But what are we actually looking for? Fellowship in what the 17th-century French mathematician Blaise Pascal called “the eternal silence of these infinite spaces”? We may not find it; there is no reason to think that aliens would be anything like us. Martin Rees, the Astronomer Royal, suspects that organically based intelligence may be a “brief interlude before the machines take over”. So, on a planet orbiting a star much older than our own, we may only find non-biological entities. Or we may not find them there at all; they may have emigrated to space to escape the kind of planetary crises we are now confronting. Rees argues that we would be staggeringly lucky to “catch intelligence” in the brief moment in which it was embodied in flesh and blood.