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Foreign Retirement Plans Seen Scrutinized in U.S. FATCA Effort

A U.S. tax crackdown is coming for foreign retirement plans. The U.S. has been pushing banks and individuals to report overseas assets, making it tougher to hide money abroad with new rules and penalties rolling out under the 2010 Foreign Account Tax Compliance Act, known as Fatca. The next wave of scrutiny will cover retirement accounts, Bloomberg BNA reported. “The retirement community has been a little slower to catch up,” said Russell E. Hall, a senior consultant at Towers Watson. Foreign retirement plans generally must agree to report their U.S. account holders to avoid a 30 percent withholding tax on U.S.-sourced interest, dividends and proceeds from the sale of securities beginning July 1. Global companies with programs overseas will need to catalog their funded retirement plans to figure out which ones may be exempt, Hall said. Continue reading →

Continue ReadingForeign Retirement Plans Seen Scrutinized in U.S. FATCA Effort

France adds Jersey, Bermuda to tax-haven blacklist

"France has added Jersey, Bermuda and the British Virgin Islands to its list of uncooperative tax havens. The entry gave no reason for the move. According to data compiled by the French government through to August 2011, Jersey and Bermuda had responded to all French requests for information. The British Virgin Islands had responded to 31 out of 41 requests. Tax has always been a sensitive issue for France, which has among the highest tax takes in the developed world, but President Francois Hollande has been under pressure to regain the initiative after the embarrassing resignation of his budget minister this year over a secret Swiss bank account." Continue reading →

Continue ReadingFrance adds Jersey, Bermuda to tax-haven blacklist

France backs action on Syria as U.S. seeks coalition

"French President Francois Hollande gave a boost Friday to US hopes of forging an international coalition for possible strikes against Syria after British lawmakers rejected any involvement in military action. The White House had signalled Thursday that President Barack Obama, guided by the 'best interests' of the United States, was ready to go it alone on Syria after deadly chemical weapons attacks last week. But Russia, the Syrian regime’s most powerful ally, warned any military strikes would 'deal a serious blow to the entire system of world order'. While Germany and Canada ruled out joining any military strikes, Hollande said the British vote would not affect his government’s stance." Continue reading →

Continue ReadingFrance backs action on Syria as U.S. seeks coalition

Dec. 20, 1983: Rumsfeld shakes hands with Saddam Hussein

"15 months after the massacre in Du'jail for which Saddam was eventually hanged in 2006, Reagan's Special Envoy to the Middle East, Donald Rumsfeld is in Iraq is shaking Saddam Hussein's hand and pledging our support in his war against Iran." Continue reading →

Continue ReadingDec. 20, 1983: Rumsfeld shakes hands with Saddam Hussein

And the Winner of Bush’s Iraq War Is . . . Iran!

"Why did they vote for the resolution in 2003? 'They had weapons of mass destruction.' Well, no, they didn’t. Then why continue to vote to fund it? 'Support our troops!' Right. Get them killed. Get their limbs shot off. Once a President sucks in Congress on backing an invasion — which is 100% of the time — Congress keeps funding the carnage until the next President quietly pulls them out. Always. Support our troops! Today, the USA has zero influence in Iraq. Iran runs the show from the shadows." Continue reading →

Continue ReadingAnd the Winner of Bush’s Iraq War Is . . . Iran!

Iraq post-war life overshadowed by crumbling infrastructure, corruption, poverty

"Despite Iraq being rich in natural resources and the US pouring money into its economy for over a decade, Iraqi infrastructure is constantly failing and the people are forced to beg. In spite of billions of dollars spent on reconstruction following the decade-long conflict, many neighborhoods lack sewerage systems and trash collection services. In some settlements, there are barely any streets. Water is also a big problem, locals pointed out. In the latest scandal, the country’s Electricity Ministry was involved in a $1.7 billion fraud case. In the Al Tajiat landfill, on the outskirts of Baghdad, people are actually forced to live – without any proper living conditions." Continue reading →

Continue ReadingIraq post-war life overshadowed by crumbling infrastructure, corruption, poverty

This Is What Winning Looks Like: My Afghanistan War Diary

"The US and British forces are preparing to leave Afghanistan for good (officially, by the end of 2014), and my time in the country over the last six years has convinced me that our legacy will be the exact opposite of what Allen posits—not a stable Afghanistan, but one at war with itself yet again. Here are a few encapsulated snapshots of what I’ve seen and what we’re leaving behind." Continue reading →

Continue ReadingThis Is What Winning Looks Like: My Afghanistan War Diary

Who Built the Syrian Electronic Army?

"A hacking group calling itself the Syrian Electronic Army (SEA) has been getting an unusual amount of press lately, most recently after hijacking the Web sites of The New York Times and The Washington Post, among others. But surprisingly little light has been shed on the individuals behind these headline-grabbing attacks. Beginning today, I’ll be taking a closer look at this organization, starting with one of the group’s core architects." Continue reading →

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Obama Pushes Nations Into World War 3

"The situation in Syria has always been a proxy war between the United States and Russia. But that all changed when Israel directly attacked a Russian missile depot, launching what amounts to a direct attack on the Russian forces. Russia ultimately called upon a ‘combat readiness’ drill following this attack. More than 160,000 Russian troops from across the nation met with naval ships, aerial bombers and fighters, and other assorted military wings in order to attain ‘immediate combat readiness’. And it was back during his appearance on the Jay Leno show, the part which was entirely ignored in the US, where Obama and Jay directly compared Putin to Hitler. That’s right, Hitler." Continue reading →

Continue ReadingObama Pushes Nations Into World War 3

Rumsfeld: Obama hasn’t justified Syria attack

"Former Defense Secretary Donald Rumsfeld said Wednesday night that President Barack Obama had not done enough to justify an attack on Syria. 'One thing that is very interesting, it seems to me, is that there really hasn’t been any indication from the administration as to what our national interest is with respect to this particular situation,' Rumsfeld told Fox Business Network host Neil Cavuto. Rumsfeld criticized the Obama administration for being in a 'withdraw mode' and an 'apology mode.' He said the lack of U.S. assertiveness on the world stage had created a power vacuum that was being filled by those who didn’t share American values or interests." Continue reading →

Continue ReadingRumsfeld: Obama hasn’t justified Syria attack