“Comprehensive tax reform has been a long-standing priority for our network, and the election of Donald Trump, coupled with pro-freedom majorities in the House and Senate, offers us a once-in-a-generation opportunity to restore prosperity by enacting reforms,” the document, obtained by The Intercept, declares.
“There is an uncanny resemblance between the foreclosure crisis and our student default dilemma,” said Chopra, the Consumer Federation senior fellow.
He and others said that in both instances, loan servicers did not act in the best interest of borrowers, directing them into more expensive payment options, providing them with misleading information and mishandling paperwork — all with the aim of driving up borrowers’ costs and the servicers’ own income.
And that disparity is entirely unjustified, because far more untaxed American profit hides out in the Netherlands than in Bermuda. Since 2005, nearly half a trillion (!) dollars in American profit has been safely stored in the Netherlands by companies such as Nike, General Electric, Heinz, Caterpillar, Time Warner, Foot Locker – the list goes on and on. Half a trillion dollars: it’s an unfathomable amount of money, nearly twice the country’s entire budget.
Psst–and to bring it back home:
If history is any guide, the US government will eventually swing legislation back in your company’s favor.
In 2005, for example, Congress passed a law that allowed American multinationals to bring home their foreign profits at a temporarily low rate of 5.25% – a mere one-sixth of the regular tax rate. Some $362 billion flowed back into the US as a result. A quarter of that – a whopping $90 billion – had been cached in the Netherlands.
The promise was that the law would create American jobs. But it didn’t, revealed an analysis conducted by the nonpartisan Congressional Research Service. Nonetheless, another profit repatriation tax break will probably take effect soon. Trump’s proposed tax plan includes a temporarily reduced rate of 10% on overseas earnings that are returned to American soil.
And so Trump, for all his MAGA rhetoric, reinforces American companies’ biggest lesson: earn your money in other countries and you’ll pay less tax.
What Trump’s proposing is something that has been kicked around since the 1970s, and it’d be a pinnacle achievement for privatization-giddy folks like Shuster and the major airlines. It’d also be a massive undertaking for the U.S., and one that couldn’t be smoothly delivered by a bunch of klutzes.
“You give us permission to use your name, profile picture, content and information in connection with commercial, sponsored or related content (such as a brand you like), served or enhanced by us.”
“By ‘information’ we mean facts and other information about you, including actions taken by users and non-users who interact with Facebook.”
So this includes everything they’re collecting about you but not telling you. Everything you read online, everything someone ever posts about you, all your private financial transactions…
…Through its labyrinth of re-definitions of words like “information”, “content” and “data”, you’re allowing Facebook to collect all kinds of information about you and expose that to advertisers. With your permission only they say, but the definition of “permission” includes using apps and who knows what else.
Blair Mountain is the closest thing to Gettysburg that the American labor movement has. Its historic significance is immense. It also happens to sit in the poorest region of a state that is in desperate need of tourism dollars and economic development. Drive on Route 17 to the speck of a town called Blair, though, and all that you will find is a single historic marker for the battle, along with a trailer-sized post office, two churches, and a handful of houses. There is no museum. There is no trail. You cannot even wander up Blair Mountain yourself, because it is private property, owned by coal companies and patrolled by their private security. In fact, those coal companies have, since 2009, been waging a legal battle to prevent the Blair Mountain site from being added to the National Register of Historic Places, so that they can strip mine it instead of preserve it.
Some of the top comments add other context not mentioned in the article, like talking about the deep racism in West Virginia and its effects on the election.