statism

Yahoo, Dell Swell Netherlands’ $13 Trillion Tax Haven

"The Netherlands, in the heart of a continent better known for social welfare than corporate welfare, has emerged as one of the most important tax havens for multinational companies. Now, as a deficit-strapped Europe raises retirement ages and taxes on the working class, the Netherlands’ role as a $13 trillion relay station on the global tax-avoiding network is prompting a backlash. The Dutch Parliament is scheduled to debate the fairness of its tax system today. Lawmakers from several parties, including members of the country’s governing coalition, say they want to remove a stain on the nation’s reputation." Continue reading →

Continue ReadingYahoo, Dell Swell Netherlands’ $13 Trillion Tax Haven

Gold ETFs in India touch 40 tonne (40,000 kilo)

"The government's import restrictions are hurting the populace. The only organisation not worried, as of now, are gold backed exchange traded funds. Worried investors are veering towards the country’s 14 gold exchange traded funds (ETFs), which together have garnered 40,000 kilo of the precious metal. Gold ETFs debuted in India about six years ago. The first gold ETF launched in 2007 by Benchmark Mutual Fund (now Goldman Sachs) was followed by 13 others in quick succession. The 14 mutual fund houses present in this segment are managing gold assets worth nearly $2.2 billion (Rs 120 billion)." Continue reading →

Continue ReadingGold ETFs in India touch 40 tonne (40,000 kilo)

Get ready for Washington’s “Automatic IRAs”

"The basic gist is that businesses with 10 or more employees would be required to start funding a new form of individual retirement account. While businesses that already have retirement plans would be exempt, it’s estimated the legislation would affect about 40 percent of the U.S. workforce. Employees would be automatically enrolled. What kind of investment choices would be offered? That’s not clear yet, though Mr. John — the initial creator — has said: 'There could be an R-Bond account at Treasury for first-time savers, but that money would be rolled into private sector accounts once the individual accounts reached a certain size.'" Continue reading →

Continue ReadingGet ready for Washington’s “Automatic IRAs”

Get ready for Washington’s “Automatic IRAs”

"The basic gist is that businesses with 10 or more employees would be required to start funding a new form of individual retirement account. While businesses that already have retirement plans would be exempt, it’s estimated the legislation would affect about 40 percent of the U.S. workforce. Employees would be automatically enrolled. What kind of investment choices would be offered? That’s not clear yet, though Mr. John — the initial creator — has said: 'There could be an R-Bond account at Treasury for first-time savers, but that money would be rolled into private sector accounts once the individual accounts reached a certain size.'" Continue reading →

Continue ReadingGet ready for Washington’s “Automatic IRAs”

FDA on the verge of approving first bionic eye for the blind

"After years of research, the first bionic eye has seen the light of day in the United States, giving hope to the blind around the world. Developed by Second Sight Medical Products, the Argus II Retinal Prosthesis System has helped more than sixty people recover partial sight, with some experiencing better results than others. Consisting of 60 electrodes implanted in the retina and glasses fitted with a special mini camera, Argus II has already won the approval of European regulators. The US Food and Drug Administration is soon expected to follow suit, making this bionic eye the world’s first to become widely available." Continue reading →

Continue ReadingFDA on the verge of approving first bionic eye for the blind

75-year-old soybean farmer sees Monsanto lawsuit reach U.S. Supreme Court

"On the one side is Bowman, a single 75-year-old Indiana soybean farmer who is still tending the same acres of land as his father before him in rural south-western Indiana. On the other is a gigantic multibillion dollar agricultural business famed for its zealous protection of its commercial rights. The firm insists that it maintains patent rights on its genetically modified seeds even if sold by a third party with no restrictions put on its use – even if the seeds are actually only descendants of the original Monsanto seeds." Continue reading →

Continue Reading75-year-old soybean farmer sees Monsanto lawsuit reach U.S. Supreme Court

Lithuania turns Google Street View on tax cheats

"Lithuanian tax authorities said Thursday they would use the Baltic state’s recently launched Google Street View platform to track tax cheats by identifying the real value of property holdings. 'It will help ascertain which property is ‘hiding’ under the entry recorded in the real-estate register and provide a preliminary assessment of whether the value corresponds to the declared value,' Lithuanian deputy state tax inspector Arturas Klerauskas told AFP. Google Street View was launched in Lithuania a week ago, after Google overcame initial reluctance on the part of the authorities that stemmed from privacy and security concerns." Continue reading →

Continue ReadingLithuania turns Google Street View on tax cheats

Pakistan hatches biometric ID scheme to claw back unpaid taxes

"Pakistan's National Data Base and Registration Authority (NADRA) aims to put every Pakistani adult into one of the world's largest multi-biometric databases. 'We have 452 static centers where people are coming and giving this data, we have 250 mobile vans, we have a motorcycle service, and we (even) have people up in the mountains -- skiers and mountaineers with man-pack units,' says chairman Tariq Malik whose mission it is to log every potential taxpayer in Pakistan. 'We are going to block their ID cards, and we are going to block their bank accounts, and we are going to block their foreign travels until the either pay or file an appeal,' says Hakeem." Continue reading →

Continue ReadingPakistan hatches biometric ID scheme to claw back unpaid taxes

Raytheon secret software tracks social media and ‘predicts’ people’s future behavior

"A video obtained by the Guardian reveals how an 'extreme-scale analytics' system created by Raytheon, the world’s fifth largest defence contractor, can gather vast amounts of information about people from websites including Facebook, Twitter and Foursquare. The Massachusetts-based company has acknowledged the technology was shared with US government and industry as part of a joint research and development effort, in 2010, to help build a national security system capable of analysing 'trillions of entities' from cyberspace." Continue reading →

Continue ReadingRaytheon secret software tracks social media and ‘predicts’ people’s future behavior

Homeland Security Watchdog OKs ‘Suspicionless’ Seizure of Electronic Devices Along Border

"The Department of Homeland Security’s civil rights watchdog has concluded that travelers along the nation’s borders may have their electronics seized and the contents of those devices examined for any reason whatsoever — all in the name of national security. The President George W. Bush administration first announced the suspicionless, electronics search rules in 2008. The President Barack Obama administration followed up with virtually the same rules a year later. Between 2008 and 2010, 6,500 persons had their electronic devices searched along the U.S. border, according to DHS data." Continue reading →

Continue ReadingHomeland Security Watchdog OKs ‘Suspicionless’ Seizure of Electronic Devices Along Border