Orwellian

Snowden Leak: U.S. Paying Contractors Ten Times as Much as Bureaucrats

"While contractors represent fewer than 20 percent of the workforce, 70 percent of the intelligence budget goes to them, according to a figure from the U.S. Director of National Intelligence Agency (DNI) at a Colorado sponsored by the Defense Intelligence Agency (DIA). That rare peek behind the veil is likely still relatively accurate. Traditionally the lion's share of this money has gone to Northrop Grumman Corp. (NOC), Honeywell Int'l Inc. (HON) (via is Science Applications Int'l Corp. subsidiary), Raytheon Comp. (RTN), Lockheed Martin Corp. (LMT), and Edward Snowden's former firm Booz Allen Hamilton Holding Comp. (BAH)." Continue reading →

Continue ReadingSnowden Leak: U.S. Paying Contractors Ten Times as Much as Bureaucrats

Leaked documents show massive expansion of CIA budget

"The CIA has mushroomed into the largest US spy agency with a nearly $15 billion budget as it expands intelligence, cyber sabotage and overseas covert operations, secret leaked documents showed Thursday. It shows a dramatic resurgence of the Central Intelligence Agency, once thought to be on the decline after it acknowledged intelligence failures prior to the attacks of September 11, 2001 and the US-led invasion of Iraq in 2003. It now is the dominant colossus within the national intelligence community, expanding its workforce by more than 25 percent from a decade ago, to 21,575 this year." Continue reading →

Continue ReadingLeaked documents show massive expansion of CIA budget

Washington Post: U.S. $53 billion ‘Black budget’ details leaked by Snowden

"U.S. spy agencies have built an intelligence-gathering colossus since the attacks of Sept. 11, 2001, but remain unable to provide critical information to the president on a range of national security threats, according to the government’s top-secret budget. The $52.6 billion 'black budget' for fiscal 2013, obtained by The Washington Post from former intelligence contractor Edward Snowden, maps a bureaucratic and operational landscape that has never been subject to public scrutiny. The Post is withholding some information after consultation with U.S. officials who expressed concerns about the risk to intelligence sources and methods." Continue reading →

Continue ReadingWashington Post: U.S. $53 billion ‘Black budget’ details leaked by Snowden

NSA’s Prism Could Cost Global IT Service Market $180 Billion

"James Staten, a Forrester analyst who follows IT services, argued in a blog post Wednesday that financial losses could prove substantially higher when other market segments are considered. In calculating his higher estimate, Mr. Staten said that in addition to the $35 billion estimated by the ITIF, vendors of hosting and outsourcing services – which offer many of the same services as cloud companies, but use different processes and revenue models — could suffer an additional $100 billion in lost business. Moreover, non-U.S. cloud service providers could lose $35 billion worth of business from international customers, as awareness grows of the surveillance activities of other governments." Continue reading →

Continue ReadingNSA’s Prism Could Cost Global IT Service Market $180 Billion

Luxembourg says No to new EU tax law

"Luxembourg, one of the EU's smallest but richest countries, has said No to a new law against tax evasion. The European Commission has been trying to update its anti-tax-fraud legislation for the past eight years. Its 2005 law forces member states to automatically exchange information on EU nationals' deposits in other European Union countries. But it contains gaps on income received via investment funds, pensions, trusts and foundations. It also contains a big hole on Austria and Luxembourg. The two financial centres are exempt from automatic exchange until such time as five non-EU tax havens - Andorra, Liechtenstein, Monaco, San Marino and Switzerland - agree to it as well." Continue reading →

Continue ReadingLuxembourg says No to new EU tax law

Ten Reasons the U.S. Is No Longer the Land of the Free

"Since 9/11, we have created the very government the Framers feared: a government with sweeping and largely unchecked powers resting on the hope that they will be used wisely. The indefinite-detention provision in the defense authorization bill seemed to many civil libertarians like a betrayal by Obama. While the president had promised to veto the law over that provision, Levin, a sponsor of the bill, disclosed on the Senate floor that it was in fact the White House that approved the removal of any exception for citizens from indefinite detention. Dishonesty from politicians is nothing new for Americans. The real question is whether we are lying to ourselves when we call this country the land of the free." Continue reading →

Continue ReadingTen Reasons the U.S. Is No Longer the Land of the Free

Banker Groups Sue Treasury, IRS Over Account Reporting Rule or (DATCA)

"Two banker groups sued the U.S. challenging rules that require financial institutions to report information on accounts held by nonresident aliens that may be shared with 72 foreign governments. The Texas Bankers Association and the Florida Bankers Association, in a lawsuit filed today against the Treasury Department and the Internal Revenue Service in federal court in Washington, said the rules are discouraging investment in the U.S. by nonresidents who fear their information may be shared with the governments of countries including Egypt, Pakistan and Venezuela." Continue reading →

Continue ReadingBanker Groups Sue Treasury, IRS Over Account Reporting Rule or (DATCA)

Britain hits offshore gambling industry with 300 million pounds in taxes

"Under rules published on Friday, Britain will tax gambling according to where customers are based rather than where the online operator is registered, meaning that offshore operators pay the same 15% tax rate as domestic companies. The tax will be levied on companies' gross profit in the 2 billion pound remote-gambling market. 'It is unacceptable that gambling companies can avoid UK taxes by moving offshore, and the government is taking decisive action to ensure this can no longer happen,' Economic Secretary to the Treasury Sajid Javid said. 'These reforms will ensure that remote-gambling operators who have UK customers make a fair contribution to the public finances.'" Continue reading →

Continue ReadingBritain hits offshore gambling industry with 300 million pounds in taxes

Swiss Offshore-Adviser’s Guilty Plea Marks a Shift in Tax Crackdown

"On Aug. 16, Edgar Paltzer, 57 years old, a Swiss lawyer formerly with the Zurich firm of Niederer, Kraft & Frey, pleaded guilty in federal court in New York to a single count of conspiracy. Experts say Mr. Paltzer is the most prominent Swiss adviser to confess and the first to do so publicly. More than 30 advisers have been indicted in connection with allegedly enabling U.S. taxpayers to hide money abroad. The case puts further pressure on U.S. taxpayers holding secret offshore accounts, because advisers might opt to protect themselves by turning in their clients. The case also expands government scrutiny to assets stored in bank vaults." Continue reading →

Continue ReadingSwiss Offshore-Adviser’s Guilty Plea Marks a Shift in Tax Crackdown