US Corp: $2.1 trillion in tax havens abroad, cheating the American taxpayers

[josephpalazzo]

If economics were only about bushels of wheat ... then one can come to an objective judgement.  But once money is involved, and it has since the price system replaced barter long ago ... we are left with spooky action at a distance ... from the Treasury.

It's not spooky action at a distance. The FED has a fundamental role in the economy - why every country has a central bank. Sure, the FED can make mistakes in misdiagnosing the state of the economy, after all it's made up of humans, and humans are prone to err.  But more often than not, like your local weatherman, they are right - just that people remember more the odd times they're wrong than the plentiful times they were right. In order to understand the FED's actions, you need to understand (1) where the economy is currently at, (2) in what direction it is moving. (like basic physics problem: you need to know initial conditions to solve the equation).

[Baruch]

It's not spooky action at a distance. The FED has a fundamental role in the economy - why every country has a central bank. Sure, the FED can make mistakes in misdiagnosing the state of the economy, after all it's made up of humans, and humans are prone to err.  But more often than not, like your local weatherman, they are right - just that people remember more the odd times they're wrong than the plentiful times they were right. In order to understand the FED's actions, you need to understand (1) where the economy is currently at, (2) in what direction it is moving. (like basic physics problem: you need to know initial conditions to solve the equation).

HAhahah ... the Fed is a criminal conspiracy by the Rothschilds and the Bank of England.  Any real American understands why Jefferson and Jackson got rid of our Hamiltonian conspiracy (they tried to assassinate Jackson twice).  And why the money men had to kill Lincoln (Greenbacks ... same reason for killing Kennedy).  What did Wilson say about the money men after he did their dirty work?  What did Lord Acton say about the Bank of England?  Yes, we need a central bank, just like we need Mafia.  And that is because the only society that can ever be, is a criminal conspiracy by criminals ... even if money hasn't been invented yet.  Criminals holding a polite tea and discussing ethics .. but for me I will dribble tea all over, because I can't get over the absurdity.  Like a Parisian salon discussing Voltaire, while the peasants have no bread.

[josephpalazzo]

HAhahah ... the Fed is a criminal conspiracy by the Rothschilds and the Bank of England.  Any real American understands why Jefferson and Jackson got rid of our Hamiltonian conspiracy (they tried to assassinate Jackson twice).  And why the money men had to kill Lincoln (Greenbacks ... same reason for killing Kennedy).  What did Wilson say about the money men after he did their dirty work?  What did Lord Acton say about the Bank of England?  Yes, we need a central bank, just like we need Mafia.  And that is because the only society that can ever be, is a criminal conspiracy by criminals ... even if money hasn't been invented yet.  Criminals holding a polite tea and discussing ethics .. but for me I will dribble tea all over, because I can't get over the absurdity.  Like a Parisian salon discussing Voltaire, while the peasants have no bread.

You realize that none of that has anything to do with economics... oh wait, you're too fucking ignorant to know the difference...

[Baruch]

You realize that none of that has anything to do with economics... oh wait, you're too fucking ignorant to know the difference...

I think I will pay attention to Jefferson, Jackson, Lincoln and Wilson had to say.  They got along just fine, without being academics (except Wilson was ... that is why he was tricked into approving the FedRes and Income Tax ... he as too smart for his own britches, a bit like Obama)..

[josephpalazzo]

I think I will pay attention to Jefferson, Jackson, Lincoln and Wilson had to say.  They got along just fine, without being academics (except Wilson was ... that is why he was tricked into approving the FedRes and Income Tax ... he as too smart for his own britches, a bit like Obama)..

FYI: politicians are the last persons to understand economics. Start with this wikipage: https://en.wikipedia.org/wiki/Economics#Theory, at least to get a clue what economics is all about, not that a wikipage will get you an education but at least it's a start. It's never too late to learn.


Here's a free pdf on Introduction to economics: http://www.londoninternational.ac.uk/sites/default/files/programme_resources/lse/lse_pdf/subject_guides/ec1002_ch1-4.pdf. If you're not afraid to use some math knowledge along the way. If your math is fairly descent, skip to page 23, and do some reading, dude.

[Baruch]

FYI: politicians are the last persons to understand economics. Start with this wikipage: https://en.wikipedia.org/wiki/Economics#Theory, at least to get a clue what economics is all about, not that a wikipage will get you an education but at least it's a start. It's never too late to learn.


Here's a free pdf on Introduction to economics: http://www.londoninternational.ac.uk/sites/default/files/programme_resources/lse/lse_pdf/subject_guides/ec1002_ch1-4.pdf. If you're not afraid to use some math knowledge along the way. If your math is fairly descent, skip to page 23, and do some reading, dude.

I thought you didn't like wikipedia ... have you converted to the one true Internet religion? ;-)  Read the article on the Bush family ... total lies.

[josephpalazzo]

I thought you didn't like wikipedia ...

Your memory is poor. What I said is that some people read a page on wikipedia and then think they know the subject, which they don't. I gave you a page on wikipedia as a start, then gave you another link to start your education on the subject. But I reckon that you are too comfortable with your ignorance, and my suggestion was a waste of time.

[TomFoolery]

There's not enough rage in the population, and so many, among them certain politicians, get away with anything.

Of course there is. It just goes towards rage at things like foreign aid (how can we take care of poor black people over there when there are poor white people over here?!), Medicaid (it just goes to illegals Mexicans and selfish single mothers, duh!), unemployment (those lazy people just don't want to work!) and Planned Parenthood.

There's more than enough rage to go around. I'd argue it's our chief export. The problem is that it's just artfully misdirected, and we're instructed to squabble over the crumbs while companies like Apple and Walmart make off with the whole fucking cake.

[TomFoolery]

I actually just finished reading the report and doing some research on the U.S. budget. The report indicates that 358 of the Fortune 500 companies operated subsidiaries in offshore tax haven jurisdictions at the end of 2014. Collectively they held more than $2.1 trillion in accumulated profits overseas, which would have amounted to approximately $620 billion after those foreign countries took their cut. If those tax dollars had been brought back home, they could directly funded the following agencies in 2014...

Department of Health and Human Services ($78.3 billion)
Department of Education ($71.2 billion)
Department of Veterans Affairs ($63.5 billion)
National Intelligence Program ($48.2 billion)
Department of State ($48.1 billion)
Department of Homeland Security ($39 billion)
Department of Housing and Urban Development ($33.1 billion)
Department of Energy ($28.4 billion)
Department of Agriculture ($21.5 billion)
National Aeronautics and Space Administration ($17.7 billion)
Department of Justice ($16.3 billion)
Department of Transportation ($16.3 billion)
Department of the Treasury ($12.9 billion)
Department of Labor ($12.1 billion)
Department of the Interior ($11.7 billion)
Department of Commerce ($8.6 billion)
Environmental Protection Agency ($8.2 billion)
National Science Foundation ($7.6 billion)
Army Corps of Engineers ($4.7 billion)

… and given them a 13.5% budget increase.

[Baruch]

Your memory is poor. What I said is that some people read a page on wikipedia and then think they know the subject, which they don't. I gave you a page on wikipedia as a start, then gave you another link to start your education on the subject. But I reckon that you are too comfortable with your ignorance, and my suggestion was a waste of time.

You are hung on your own petard again!  I understand economics from first principles, not from a propaganda Wiki page.  Wiki like Google is CIA also.  First principle ... no work, no eat.  Second principle like the first ... there is no free lunch.  Third principle ... civilization is based on parasitic exploitation of farming, ranching etc by armed thugs.  Case in point ... Rome ... founded by cattle thieves and rapists 2800 years ago, but still going strong.  If the surrounding farmers in Latium, had exterminated the thugs around the seven hills of crime ... there would have been no Republic, nor Empire.  But they failed, as did the Etruscans to the north.  Crime does pay ... that is how I get paid ;-)  The system was reinvented in France, in the Middle Ages ... the local landlords hired thugs called "knickts" to go rob and terrorize the peasants.  That is how you convert common lands into private lordly lands ... that is what England did in Scotland in the 1700s to get rid of the Highlanders.  Knickts = knights.

[josephpalazzo]

You are hung on your own petard again!  I understand economics from first principles, not from a propaganda Wiki page.  Wiki like Google is CIA also.  First principle ... no work, no eat.  Second principle like the first ... there is no free lunch.  Third principle ... civilization is based on parasitic exploitation of farming, ranching etc by armed thugs.  Case in point ... Rome ... founded by cattle thieves and rapists 2800 years ago, but still going strong.  If the surrounding farmers in Latium, had exterminated the thugs around the seven hills of crime ... there would have been no Republic, nor Empire.  But they failed, as did the Etruscans to the north.  Crime does pay ... that is how I get paid ;-)  The system was reinvented in France, in the Middle Ages ... the local landlords hired thugs called "knickts" to go rob and terrorize the peasants.  That is how you convert common lands into private lordly lands ... that is what England did in Scotland in the 1700s to get rid of the Highlanders.  Knickts = knights.

You're a total waste.

[Baruch]

You're a total waste.

I can't believe you are ignorant of history.  And I can only laugh at your ignoring of history.  But don't feel bad, you give me a good laugh!