bankers // Current TV

Should students get to pay the same interest rate as banks?

On July 1, student loan interest rates are set to double - from 3.4 percent to 6.8... more

JessMag
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10 days ago
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5 comments

What Happens When A Journalist Tries To Force A Banker To Actually Answer A Question

From the video description: It’s hard not to appreciate how thoroughly Irish... more

Radical_Centrist
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1 month ago
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8 comments

Give up---Bankers Can Easily Avoid the EU Bonus Cap

Published: Thursday, 28 Feb 2013 | 3:37 PM ET By: John Carney Senior Editor,... more

Culdee
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3 months ago
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0 comments

What do Bankers and Corrupt Politicians have planned next? Whole countries turned into dens of vice and crime for their enjoyment

The Spanish government’s plans to create ‘Euro Vegas’ in Madrid... more

joeeddy
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1 year ago
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0 comments

Prostitutes in Spain Won't Sleep with Bankers

Hearts of gold

artemis6
added this
1 year ago
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44 comments

Banker Leaves 1% Tip On $133 Lunch Bill In Defiance of 'The 99%' [UPDATED]

If you've ever worked your tail off for tips, this will tick you off. =) If... more

Radical_Centrist
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1 year ago
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9 comments

The Truth About Ron Paul

WARNING: Due to the Highly Controversial Nature of this article, it is recommended... more

Anarchadiator
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1 year ago
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4 comments

A Nightmare on Wall Street…

By Muriel Kane Friday, January 6 Filmed in glorious black and white, this Twilight... more

KB723 [removed]
added this
1 year ago
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10 comments

First photos of people's court where bankers will be tried in London

These are the first pictures of the People's Court in London where the 1% will be... more

worrg
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1 year ago
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0 comments

General Electric's (G.E.) 57,000 Page Tax Return

The 57,000 Page Tax Return
by Alex Tabarrok

The NYTimes reported earlier this year that through an extraordinary use of tax breaks and clever accounting:

[General Electric] reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States. Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion.

The Times highlighted the skill of GE’s dream team:

G.E.’s giant tax department, led by a bow-tied former Treasury official named John Samuels, is often referred to as the world’s best tax law firm. Indeed, the company’s slogan “Imagination at Work” fits this department well. The team includes former officials not just from the Treasury, but also from the I.R.S. and virtually all the tax-writing committees in Congress.

More recently from The Weekly Standard we find what kind of effort it takes to pay no taxes on $14 billion in profits:

General Electric, one of the largest corporations in America, filed a whopping 57,000-page federal tax return earlier this year but didn’t pay taxes on $14 billion in profits. The return, which was filed electronically, would have been 19 feet high if printed out and stacked.

(FYI, the length of GE’s tax return has doubled since 2006 when it (first?) filed electronically at an equivalent of 24,000 pages.)

GE’s tax bill illustrates both why our corporate tax rate is too high and too low. The nominal rate is too high which encourages a real rate which is too low.

Consider the resources that GE spends to lowers its tax bill, not just the many millions spent on clever accounting and accountants and the many millions spent on lobbying but also the many inefficient ways that GE structures its businesses just to avoid paying taxes and the many millions it invests in socially wasteful projects just in order to produce privately valuable tax credits. Now add to that the allocational inefficiencies of taxing some firms at different rates than others and you have a corporate tax system which wastes a lot of resources and raises relatively little revenue. Indeed, a corporate tax system with a tax rate of zero could well be preferable as it would waste fewer resources and raise not much less revenue.

Hat tip: TaxProf blog.The 57,000 Page Tax Return by Alex Tabarrok The NYTimes reported earlier this... more

dryeraser
added this
1 year ago
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0 comments

Italy is now a banking dictatorship

Fascistas. Keep fighting people of Italy.

JanforGore
added this
1 year ago
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1 comment

Hoovervilles, the Bonus March and Occupy America

Proof that not much has changed since this time for all of our supposed progress. The same problems with income disparity, class war, unemployment, and those who think problems can fix themselves or "trickle down" to others. And this is because we are still doing things the same way hoping for a different outcome. The same two party system, the same greed, the same campaign rhetoric, the same empty promises, the same catering to the 10 who can buy the country rather than keeping their oaths to the millions who make it work.

I posted this because I thought of the Bonus March after seeing Mayor Bloomberg's actions in NYC regarding the Americans occupying Zuccotti Park and the actions of others. Their Hoover mentality also reflects a time when we saw high unemployment, homelessness due to failing mortgages and the corrupt greed of those who then took advantage of the less fortunate. **That is why Americans are out in the parks now for those who seem to have forgotten their own history.**

This is not a just society. This is not a society that strives for equality. This is a society that thrives on the needs of the many being sacrificed for the wants of a few. And it is failing all of us, especially our children and all of us have had a hand in it because we continue to place trust in those who do not care about anything but continuing to cater to those 10. So we now see Americans taking a stand to make it right and hold those who will not take responsibility for their corrupt actions accountable. Just like veterans did when they held their Bonus March on Washington DC and built their shantytowns in the Capitol. And it was the right thing to do then and it is the right thing to do now.

So to all of the mayors in all of these cities, to the jackbooted Homeland Security Dept., to this administration that is silent on this, to those from the last USSC appointed administration who precipitated this and to all those who think that you are on the right side of history... history has already proven you wrong. Shame on you all for forgetting that.
We won't.Proof that not much has changed since this time for all of our supposed progress. The... more

JanforGore
added this
1 year ago
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24 comments

Revealed – The Capitalist Network That Runs the World (New Scientist)

AS PROTESTS against financial power sweep the world this week, science may have... more

dryeraser
added this
1 year ago
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2 comments

President Obama is on the brink of cutting a backroom deal that would give bankers broad immunity for illegally throwing tens of thousands of Americans out of their homes. : politics

To help expose the looming cash-for-immunity deal between the Obama administration and... more

dryeraser
added this
1 year ago
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1 comment

Occupied America

In a nation where problem's are resolved on TV programs within a thirty to sixty minute time frame and products that can cure everything from hair loss to relationship problems are marketed to people who have become so impatient that they can't wait for a meal longer than it takes for the person at the drive through to hand them their order it's no wonder that the initial response to the Occupy Wall Street movement has been one of confusion. The fact that there are so many people with so many different issues and no quick answers has led some to the conclusion that the lack of structure and a recognizable leader is a sign of weakness. Others have gone as far as to dismiss the movement by resorting to cliches about protestors rooted in what they perceive were the more destructive aspects of the activism of the 1960's. The truth is that the shear volume of issues in itself is reason enough for the protest. People have become fed up with not having a say in how their lives and their Country are run. The majority of people do not want handouts. What they do want is an equal opportunity to live and be as productive as they can. When 99% of American citizens are forced to pay more of their income in taxes than the 1% who pay little to none of theirs is it any wonder people are enraged? The image of the protestors as pot smoking hippies who want everything handed to them may be a convenient talking point but it couldn't be further from the truth. It is a Peoples protest and despite what some in power or the media may think it is not something that will go away just because the weather starts to turn bad or they stop talking about it. It may appear to be chaotic and disorganized on the surface but at it's root it is the reason this nation works. Whenever Politicians and self serving Business People have lost track of who and what we are as a nation it is in our best interest to remind them in the loudest and most creative ways we know how. Democracy is chaotic and loud and creative and far better than any of the alternatives. Stand Strong, Speak Loud and never let the Bully's win!In a nation where problem's are resolved on TV programs within a thirty to sixty... more

Jim_Brenneman
added this
1 year ago
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0 comments

The Occupiers vs the Tea Party, Who Wins the Battle of Perceptions?

There's a lot of rumination over Occupy Wall Street and its growing raft of... more

omnipotentpoobah
added this
1 year ago
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0 comments

Rewritten Headlines: Bank of America to Two Faced Cat

Tony D rewrites today's headlines so you don't have to read the news!

TonyDiGerolamo
added this
1 year ago
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0 comments

Preparation is Everything

While some occupy Wall Street, the bros go about their day.

TonyDiGerolamo
added this
1 year ago
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0 comments

11 Things You Can Do to Help the 'Occupy Wall Street' Movement

September 20, 2011 | Advertisement Editor's note: Today is the fifth day... more

Jennifer_Guinn
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1 year ago
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0 comments

*Countdown with Keith ...: Matt Taibbi on the "Rogue Trader" banking scandal

Obama needs to dump those corporate insiders and appoint Matt Taibbi as his US... more

KB723 [removed]
added this
1 year ago
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8 comments

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