Daily Digest

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Daily Digest 1/3 - The Private Tax System Of The Wealthiest, China's Two-Speed Economy Intact

Sunday, January 3, 2016, 12:20 PM

Economy

For the Wealthiest, a Private Tax System That Saves Them Billions (richcabot)

In recent years, this apparatus has become one of the most powerful avenues of influence for wealthy Americans of all political stripes, including Mr. Loeb and Mr. Cohen, who give heavily to Republicans, and the liberal billionaire George Soros, who has called for higher levies on the rich while at the same time using tax loopholes to bolster his own fortune.

Boeing to shower shareholders with cash (richcabot)

"Our strategy is rooted in a foundation of strong operating performance across our business, confidence in our team and long-term market outlook and an unmatched portfolio of products and services," he added.

Last year, the firm bought back $6.75 billion worth of its own stock.

How the Koch network rivals the GOP (richcabot)

As the network has grown, though, internal audits at times have raised concerns about its management culture, spending and lack of coordination among core groups that compose the network. Insiders have questioned huge staff bonuses, fancy restaurant meals, purchases of Twitter followers and sporting event-related costs, as well as contracts directed to firms connected to top network operatives.

Obama to Hold Town Hall Meeting on Gun Violence (jdargis)

“It would be better for our security if it was harder for terrorists to purchase very powerful weapons,” Ben Rhodes, Mr. Obama’s deputy national security adviser, said in a briefing for reporters in Hawaii on Saturday. “At a certain point, violence begets more violence.”

Many See I.R.S. Fines as More Affordable Than Insurance (jdargis)

That number appears to be shrinking: Administration officials said last month that about 2.5 million new customers had bought insurance through HealthCare.gov, the federal exchange serving 38 states, since open enrollment began on Nov. 1. The number of new enrollees is 29 percent higher than last year at this time, suggesting that the threat of a larger penalty may be motivating more people to get covered.

China's Two-Speed Economy Stays Intact as Factories Slump, Services Gain (jdargis)

Policy makers looking ahead to the new year are faced with old economic drivers that still aren’t showing any signs of a pick-up even amid fresh indications of strength in the new ones, despite six People’s Bank of China interest-rate cuts and stepped up fiscal stimulus. The sweeping shift of the world’s second-largest economy is a long-sought transition away from investment and manufacturing toward consumption and services.

ISIS oil trucks cross into Turkey every day, captured terrorist admits (richcabot)

“At the training camp in May 2015, our commander told us that the group sells fuel to Turkey. That income covers Islamic State's costs. The oil trucks crossing into Turkey every day carry crude oil, as well as petrol,” Tatar said, adding that the Islamic group has “enough oil to last them a long time.”

The storm that will unfreeze the North Pole (richcabot)

2015 is the warmest year ever recorded. Thirteen of the top 14 warmest years on the books have happened this century. And here in the United States, it has been a hot, strange month. Many cities across the northeast smashed their Christmas and Christmas Eve temperature records not at midday, but at the stroke of midnight. For the hundred-plus years that New York temperatures have been recorded, the city has never been warmer than 63 degrees Fahrenheit on a December 24. Yet at 1 a.m. on Christmas Eve of this year, the thermometer measured 67 degrees.

Gold & Silver

Click to read the End-Of-Year PM Market Commentary: 2015

Provided daily by the Peak Prosperity Gold & Silver Group

Article suggestions for the Daily Digest can be sent to [email protected]. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."

7 Comments

dickey45's picture
dickey45
Status: Bronze Member (Offline)
Joined: Oct 12 2008
Posts: 77
http://www.opb.org/news/artic

http://www.opb.org/news/article/militia-oregon-wildlife-refuge-burns-bun...

Federal Government better get this under control or this could be a part of TSHTF.

thc0655's picture
thc0655
Status: Diamond Member (Offline)
Joined: Apr 27 2010
Posts: 1615
What do you call people who rely on the government for security?

VICTIMS !

In the above article Ben Rhodes the Deputy National Security advisor, fluffing for POTUS's CNN town hall on gun violence on Thursday said,

“Even if you think about the plots that we have stopped from going forward,” Mr. Rhodes said, “it’s not like in a movie where we shot someone just as they were about to detonate a suicide vest.”

Instead, counterterrorism efforts largely rely on intelligence and law enforcement activities, he said. He called efforts to arm citizens a dangerous and slippery slope.

“That’s why they have a government,” Mr. Rhodes said. “They have a government to provide security against the threat of terrorism.”

Well, that perfectly captures the essence of the gun control aspect of our culture wars.  The collectivists believe that it is the government's responsibility (exclusively) to provide for the people's security.  To them, the people are just sophisticated but helpless sheep cared for by the government shepherd.

On the other hand, the US Constitution, the Founding Fathers who created it and today's liberty-minded citizens believe that each citizen is primarily responsible for his/her own security and even for the security of our Republic.  For us, the government is only a servant of the citizens' which bolsters the security primarily provided by the people themselves.  

I'm glad I don't have teevee otherwise I might be tempted to watch POTUS on Thursday night and give myself a migraine.  Based on his history and the leaks so far, I imagine he will only advocate for or order two things: feel good measures which wouldn't have done anything to stop any terrorist attack we've ever had, or blatantly violate the various aspects of the US Constitution (which also wouldn't do anything).  Here's White House Press Secretary Josh Earnest floundering around, unable to answer a reporter's request to name one gun control initiative that would've stopped any recent mass shooting.  http://www.zerohedge.com/news/2015-12-11/white-house-unable-explain-how-gun-control-will-stop-mass-shootings  I wish Obama had the balls to go for The Full Monty so we could resolve this issue once and for all: the abolition of the Second Amendment.

Here's a writer who has the courage and honesty to advocate for a total remaking of US law:

http://www.dailykos.com/story/2015/10/5/1427845/-Effective-Gun-Control-A-National-Semi-Auto-Ban

But here's another writer who talks sensibly about repealing the Second Amendment and how that might unfold:

http://www.nationalreview.com/article/423183/rant-second-amendment-repeal

And another:

https://reason.com/reasontv/2015/10/07/how-to-create-a-gun-free-america-in-5-ea

Time2help's picture
Time2help
Status: Diamond Member (Offline)
Joined: Jun 9 2011
Posts: 2832
Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Boogie men

You haven't got terrorists.  You've got something completely different. 

I'll  tell you when you've got terrorists. 

thatchmo's picture
thatchmo
Status: Gold Member (Offline)
Joined: Dec 14 2008
Posts: 458
Deputy National Security Moron

Instead, counterterrorism efforts largely rely on intelligence and law enforcement activities, he said. He called efforts to arm citizens a dangerous and slippery slope.

“That’s why they have a government,” Mr. Rhodes said. “They have a government to provide security against the threat of terrorism.”

Hmmm.  I'd suggest that efforts to DISarm citizens is a dangerous and slippery slope.  And who is this "they" that Mr. Rhodes is speaking of?  Would that be American citizens?  Is he not one of us?  Us vs. "them"....E pluribus unum?  Aloha, Steve.

 

KennethPollinger's picture
KennethPollinger
Status: Platinum Member (Offline)
Joined: Sep 22 2010
Posts: 654
Top Dogs

Do you make at least $250,000/ year?  One-quarter of 1% of the country's employed population.  Then you are in a very special group.  ETC.  "This group of folks mainly populate the executive offices and managerial suites of major corporations and financial institutions, along with a smattering of law firms, hedge funds, and other elite aeries."

Latest data.

 

At the American Economic Association’s annual meeting, what was once mainly an issue among players on the margins of the profession is taking center stage.

 

KennethPollinger's picture
KennethPollinger
Status: Platinum Member (Offline)
Joined: Sep 22 2010
Posts: 654
Correction: Top Dogs

It's actually 250,000 folks who make at least $640,000.  Sorry.  Anyway, I guess most of us are NOT in this special group.  But if you hit a junior gold miner at the right time, who knows???

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