Bandit Gang Writ Large

US blocks G20 crackdown on tax avoidance by net firms like Google and Amazon

"Senior officials in Washington have made it known they will not stand for rule changes that narrowly target the activities of some of the nation's fastest growing multinationals. The OECD plan has been billed as the biggest opportunity to overhaul international tax rules since a framework for bilateral tax treaties was first established after the first world war. In the case of Google, in 2011 French tax officials demanded €1.7bn (£1.47bn) in back taxes. Google settled the case, agreeing to paying €60m. The French president, François Hollande, said it was 'a model for effective partnership and is a pointer to the future in the global digital economy.'" Continue reading →

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Which States Are Most Drunk on Wine Taxes?

"I shared some fascinating details the other day about how federal taxes inhibited the development of America’s beer industry. And I’ve used a story about buddies sharing beer to illustrate the dangers of redistribution and class warfare. But this blog hasn’t paid much attention to wine. Well, thanks to this new map from the Tax Foundation, that oversight has been addressed. I reckon the politicians in Kentucky don’t have much use for those effete, wine-sipping bi-coastal elites?" Continue reading →

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The Endgame of State/Local Government Pensions

"During the past 30 years of financialized abundance, the benefits and pensions promised to public employees were increased substantially. Public unions are a powerful political force in many states, and in eras of rising tax revenues, it's an easy political decision to increase public employee benefits and pension payouts. The rising stock and bond markets generated huge profits for the public-employee pension funds, enabling them to grow without taxpayer contributions. The effortlessness and persistence of this growth encouraged the mindset that pensions would be paid for via the magic of ever-rising markets." Continue reading →

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Poland Traffic Cameras Battered, Government Seeks Insurer

"Attacks on speed cameras in Poland have become so common that the country's transportation department is looking for companies to insure the 185 speed cameras and red light cameras that will be in place by September. The policy would cover 30 million zloty (US $9 million) worth of equipment against losses that have included the destruction of 31 cameras last year, or about one out of four devices in operation Interia.pl reported." Continue reading →

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Indiana Supreme Court Upholds Drug Stop For Legally Tinted Windows

"Photographs of of the vehicle taken by police show the car's steering wheel and windshield wiper could be seen through the rear window. Officer Minch confirmed at trial that this matched what he saw but that it was 'kind of gloomy' that day and he was unable to verify Sanders' age, sex and ethnicity through the back window. Sanders is black. Officer Minch did not try to identify the driver through the front or driver's and passenger side windows, which were untinted. An expert's measurement determined the tint was well within the standard, allowing 38 percent of light to pass through. That was not enough to allow Sanders to walk." Continue reading →

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British MPs urged to reject contentious tax pact with the US

"FATCA critics argue that it is expensive and burdensome for foreign financial institutions to implement, that it is a form of US imperialism, that it could damage delicate international relations and trade agreements, that it is in direct conflict with many foreign laws, and, crucially, that it would compromise America’s economy as it would dramatically reduce foreign investment in the US, threatening American jobs. In addition, FATCA, its opponents insist, would do little if anything to catch tax evaders, which is purportedly its primary objective." Continue reading →

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Mirror, Mirror on the Wall, Which Country Has the Most Expensive Bureaucrats of All?

"Germany is significantly better than the United States, whether measured by the cost of the bureaucracy or the size of the bureaucracy. Japan also does much better than America, notwithstanding that nation’s other problems. In the I’m-not-surprised category, France does poorly and Switzerland does well. To see where the trends are most worrisome, look at the changes over time. The total cost of bureaucracy, for instance, jumped considerably between 2000 and 2009 in Ireland, Greece, the United Kingdom, Denmark, Spain, and the United States. So much for 'austerity.'" Continue reading →

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Obama Wants to Triple Airport Travel Tax

"The Obama administration is calling in its fiscal 2014 budget for the so-called Sept. 11 security fee to rise up to threefold, raking in $25.9 billion over a decade – and adding several dollars to the price of many tickets, reports Jennifer Waters. The security-fee proposal seeks to raise the maximum Aviation Passenger Security Fee to $7.50 by 2019, through 50-cent annual increases. The budget also proposes a new $100-per-flight departure tax, which would be paid by the airlines, as well as raising the passenger facility charge to $8 from $4.50 per flight and hiking other fees related to customs and immigration." Continue reading →

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Could the Government Force You to Tell Your Deepest Darkest Secrets?

"It can… at least when it wants to ensure you’re paying your taxes. And while the 5th Amendment still stands in principle, the Feds have found a loophole that can force you to incriminate yourself… so long as it’s written down. And because of this technicality, in 1984, the Supreme Court decided: 'The Fifth Amendment provides absolutely no protection for the contents of private papers of any kind.' And believe it or not, it gets worse. Any of your personal records held by a third party (like a bank) aren’t protected either. Prosecutors can issue very broad summonses forcing these 3rd parties to hand over ALL personal and financial records." Continue reading →

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