Yearly Archives: 2013

US Relaxes Health Law Income, Insurance Status Rule for Exchanges

"Until now, the administration had proposed that exchanges verify whether new applicants receive employer-sponsored insurance benefits through random checks. It also sought to require marketplaces to verify each enrollee's income status. But final regulations released quietly on Friday by the Department of Health and Human Services (HHS) give 16 states and the District of Columbia, which are setting up their own exchanges, until 2015 to begin random sampling of enrollees' employer-insurance status. The rules also allow only random— rather than comprehensive—checks on income eligibility in 2014." Continue reading →

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The Shoes Keep on Dropping… What Next?

"All branches of the Federal Government have been complicit in the warrantless surveillance of U.S. residents since before World War II when FDR authorized wiretaps of individuals suspected of Nazi sympathies. With the passage of the National Security Act in 1952 and the establishment of the National Security Council, it became standard government practice. Only the rudimentary technology of the time limited its scope. Fear – now of terrorism and whatever other apprehension the government, particularly the executive, can stir up — continues as the principal determinant of 21st century government surveillance of its citizens." Continue reading →

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Revealed: How Microsoft handed the NSA access to encrypted messages

"Microsoft helped the NSA to circumvent its encryption to address concerns that the agency would be unable to intercept web chats on the new Outlook.com portal; [...]; The company worked with the FBI this year to allow the NSA easier access via Prism to its cloud storage service SkyDrive, which now has more than 250 million users worldwide; [...] Skype, which was bought by Microsoft in October 2011, worked with intelligence agencies last year to allow Prism to collect video of conversations as well as audio; Material collected through Prism is routinely shared with the FBI and CIA, with one NSA document describing the program as a 'team sport'." Continue reading →

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Man Has Home Ransacked by Police for Paying Cash

"It all started one Saturday morning when Jarl Syvertsen, a 59-year-old disabled Norwegian man, purchased a PC, TVs, and washing machines for 80,000 kroner which he paid in cash. On Sunday a male and a female police officer appeared on Mr Syvertsen’s doorstep. The police were there with a warrant to search his home, charging that the cash he had spent was money that 'came from a criminal offense.' In fact, the money was actually part of an approximately one-million dollar advance on an inheritance he had received. The police would have none of it and proceeded to invade his home and his privacy." Continue reading →

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IRS exposed Social Security numbers of tens of thousands of political donors

“The Internal Revenue Service inadvertently exposed the Social Security numbers of tens of thousands of individuals online who donated money to tax-exempt organizations involved in political activities.  There are thousands of 527 groups, which run the gamut of issues and … Continue reading →

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America’s Corporate Tax System Ranks a Miserable 94 out of 100 Nations in “Tax Attractiveness”

"A couple of economists at a German think tank put together a 'tax attractiveness' ranking based on 16 different variables. The statutory tax rate is one of the measures, of course, but they also look at policies such as 'the taxation of dividends and capital gains, withholding taxes, the existence of a group taxation regime, loss offet provision, the double tax treaty network, thin capitalization rules, and controlled foreign company (CFC) rules.' The United Arab Emirates has one of the world’s most attractive corporate tax systems, notwithstanding having the highest corporate tax rate. Unfortunately, the United States remains mired near the bottom." Continue reading →

Continue ReadingAmerica’s Corporate Tax System Ranks a Miserable 94 out of 100 Nations in “Tax Attractiveness”

Wal-Mart walks away from plans for 3 D.C. stores after ‘living wage’ law passes

"Wal-Mart Stores Inc. said it was scrapping plans to build three stores in Washington, D.C., after the city council passed a bill late Wednesday that would require big retailers to pay starting wages that are 50% higher than the city’s minimum wage. The bill requires retailers with corporate sales of $1 billion or more and with stores of at least 75,000 square feet to pay workers starting salaries of no less than $12.50 an hour. The city’s minimum wage is $8.25. The measure includes an exemption for unionized businesses and gives existing big stores, which include Target Corp. and Macy’s Inc., four years to comply." Continue reading →

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Bill Bonner: The End of the World As We Know It

"People become 'educators' and never teach a single student. They go on 'disability.' They turn whole industries – defense, health, finance – into vast wealth transfer schemes that produce little or no net benefit for the people they are supposed to serve. In short, zombies consume more than they produce; they are a net negative for society. But Hadas is right about the effects of lower birthrates. They also lower 'growth.' And without substantial growth, life as we have known it will come to an end. Stocks will fall, creditors (bondholders, for example) won't be paid, and governments must cut back on their expenses... or go broke." Continue reading →

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The astonishing collapse of work in America

"Both demand and supply factors are at play in this disheartening dynamic. On the demand side, it seems fairly clear that our contemporary economy is just not generating jobs and work as robustly as it did in the past---even the relatively recent past. This can be seen as a 'structural' problem. For on the supply side, it is apparent that there has been a major behavioral change in America, wherein a growing proportion of working-age Americans are checking out of paid labor altogether. Suffice it to say that not working at all is neither unthinkable nor unaffordable these days, even for adults in the prime of life." Continue reading →

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The situation on the ground in Athens

"The total number of unemployed is roughly 57% of the entire Greek work force. And as you probably know, the situation for young people is even worse. Only 1 in 3 people aged 25 and under has a job. This phenomenon, sustained for several years now, has cut deeply into the psyche of an entire generation that is growing up without productive work experience or the prospect of improving their lives. The middle class here has been completely gutted. Aside from a few pockets of wealth, the country is either unemployed or working poor, hamstrung by debilitating debt. The suicide rate here has skyrocketed, crime is noticeably higher, and prostitution is rampant." Continue reading →

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