Posts Tagged ‘transfer pricing abuse’
Pushing Back On Deficit Reduction II – Transfer Pricing Abuse
When you were sitting down and struggling with your taxes this spring, wondering if you were supposed to be supporting the US federal budget all by yourself, be reassured: you were correct.
Because you could simply do away with the Department of Homeland Security. Just get rid of it entirely, along with all the departments and divisions within it. Just wipe it out, erase it from the budget, and save the taxpayers about $43 billion dollars annually.
Or you could fund it in its entirety, and then some, with the estimated $60 billion in federal tax revenues which are lost by the US through just one of the various off shore tax avoidance evasion practices: transfer pricing abuse:
Deficit Reduction I – Pushing Back On The Myth
And so it begins.
The UK elections are over, and though neither major party won a clear majority, the conservative Tories intend to try and form a government with the Liberal Democrats. Business news has focused heavily on this election hoping for a clear path forward on cutting government spending, and to gauge the prevailing political appetite for cutting government services. (British election: What it means for the UK and the US)
On a show taped Thursday, Charlie Rose hosted an interview with Byron Wien (Blackstone Advisory Services LP), Barton Biggs (Traxis Partners) and Roger Altman (fmr Deputy Treasury Secretary, then founder and chairman, Evercore Partners). They focused on the the market glitch, but they couldn’t help quickly moving from this to what markets think worries them: the tension between levels of government debt (evidently, their own thin capital requirements and the elevated loads of consumer debt, which benefits banking, is much less worrisome), and the political turmoil expected from getting rent-seeking proposals they want: funding reductions for society’s safety net.
