If you follow financial news and read about the workings of Wall Street and the FED after the 2008 economic crash----you knew then that Wall Street tried to sell off the American Stock Exchange but no one around the world wanted it. These Rating Agencies like Moody's, and Standard and Poor were supposed to be taken to bankruptcy and dismantled for fraud. Yet, they lived on for one last grand Wall Street fraud-----the bond market and stock market fraud targeting the last of the middle-class-----people with pensions and owning stocks.
The stock scheme I spoke of yesterday----loading America's largest corporations with debt from stock buybacks and then passing all that debt to shareholders to blow out their wealth assets will ultimately lead to the implosion of the US stock market. If your goal is to take the US to third world colonial status with only international economic zones operating under a global corporate tribunal of the world's 300 richest men----you won't need a stock market. So, the American people who think their stock and bond portfolio rebounded these several years under Obama will be wiped cleaner than under Bush----the neo-con/neo-liberal KNOCK OUT. Wall Street is in the process of establishing the stock exchange in developing nations just to steal all of those citizens' wealth over these few decades.
Below you see one story that beat the crowd. It is true the New York Post is not a bastion of journalism----but it is the Rupert Murdoch of Manhattan scoops----and we see what is REAL journalism. This article places the shut-down next year which without coincidence is when the massive economic crash from the bond market and stock market fraud will hit. This doesn't mean Wall Street is out of business---it simply means all stock manipulations will be handled overseas.
LET'S SEE----DO I BELIEVE THE PRESIDENT OF THE NYSE? REALLY??
Major financial news journals will not report this because they do not want a mass exodus of main street investors----where would all that corporate debt and tax evasion go if not to taking all of main street's stock and bond assets?
To look at this locally-------look at the Wall Stret Baltimore Development Corporation board to see MECU and SECU invested in all this fraud as with financial firms tying local consumers to these bad deals and making sure no one knows of this coming crash and bad investments. Baltimore local media does the same as its morning shows with all its local investment advice is silent on what is really happening. This is how main street gets roped and doped every time by Wall Street.
IF YOU HAVE INVESTMENTS LOOK AT THIS AND GET YOUR ASSETS OUT NOW----ALSO, THINK ABOUT HOW THE ENTIRE SOCIAL SECURITY AND MEDICARE TRUST FUNDS ARE TIED TO US TREASURIES ALL INVESTED IN THIS MESS.
I like the writer's use of 'window dressing' in describing all of the Obama and Clinton neo-liberal Dodd-Frank reform posing-----as Trans Pacific Trade Pact seeks to make it illegal to regulate world banks.
Big Board trading floor not closing: NYSE boss
NYSE President Tom Farley tells CNBC there's no truth to reports about a sale of the exchange or closing down the trading floor.
"We are continuing to improve the business, but the floor is a very important part of it," he said in a " Squawk Box " interview from the World Economic Forum in Davos, Switzerland.
Asked where the New York Post got its story, Farley said, "Bad reporting."
The Post reported last month that signs pointed to a sale of the NYSE by Intercontinental Exchange and the possible closure of the Big Board's trading floor.
The newspaper did not immediately respond to a CNBC request for comment.
Signs point to New York Stock Exchange going up for sale
By John Aidan Byrne
December 28, 2014 | 3:45am New York Post
Modal TriggerPhoto: Reuters
The New York Stock Exchange is back in play — and it may be sold lock, “stock” and building as soon as next year, The Post has learned.
Big Board owner Intercontinental Exchange (ICE) is laying the groundwork. The latest all-out drive to make it more profitable, powered by better and faster technology — and a regulatory overhaul to regain market share — is pure window dressing, according to analysts and knowledgeable exchange watchers.
This window-dressing could presage the once unthinkable: the closure of the Big Board’s iconic trading floor.
“There is only one move, and that is a sale or spinoff of the NYSE,” said Jim Osman, chief executive of the Edge Consulting Group in London, a research firm that specializes in spinoffs and special situations.
Osman, speaking to The Post in the wake of the NYSE’s latest plans to slash trading fees and punch high-speed competitors and dark pools in the gut, said the rationale made sense now that ICE has divested most of its stake in Euronext.
The Atlanta-based ICE, led by Jeffrey Sprecher, retained the prized international derivatives portion of Euro-next. That prompted Osman to conclude the next step could see it parting company with the Big Board’s equities franchise in lower Manhattan.
“We believe post-divestiture of the European business, it might now look to divest NYSE — the cash equities exchange — considering the fact that its core interest area [is] the [London International Financial Futures and Options Exchange] business that provides a duopoly for ICE in the European derivatives market along with [rival] Deutsche Boerse’s Eurex platform,” according to Osman.
Despite efforts to fortify the NYSE’s struggling stock-trading business, Osman’s view gained traction last week. The exchange’s latest multimillion-dollar renovation to spruce up its famous neoclassical building fronted by Corinthian columns is also seen as more pre-sale window dressing.
The exchange is making more money today as management cuts costs. But its low-margin stock-trading business, with a 20 percent market share — down from 80 percent a decade ago — is propped up by listing fees and a data business.
Diego Perfumo, an exchange analyst at Equity Research Desk in Greenwich, Conn., is now holding firm to the NYSE sale prediction he made in 2013 after ICE’s $8.2 billion takeover of NYSE Euronext.
Perfumo says the NYSE’s latest proposal to slash Wall Street banks’ trading costs by a huge 80 percent in exchange for more of their stock trades could ultimately boost the price ICE is offered. “Honestly, they are going to be looking for more value — and the value, if the NYSE is sold, will be reflected in the acquisition price,” he said.
Timing of this sale? “I would say within a year, you will know how this game is going to play out, that’s my guess,” said ICE investor Thomas Caldwell, chairman of Caldwell Securities, once one of the largest owners of the NYSE prior to its transformation into a public company in 2006.
Other analysts think a sale could take longer to play out. “ICE might turn around and sell the NYSE at a better price,” Caldwell added. “I like what he is doing. Sprecher is a brawler, an entrepreneur, and not part of the New York establishment.”
Below you see the same tax reform language used by Reagan------then Clinton-----as neo-liberals pushing corporate friendly tax reform while posing progressive. Same phrases----same mentioning of the middle-class and small business----and no intention of protecting either.
The Trans Pacific Trade Pact is written such that taxing global corporations operating in the US will not be allowed. Since almost all corporations after this coming crash will be global--not headquartered in the US----these taxes will be paid only by US small/regional businesses.
I have shown time and again that US global corporations have paid no corporate tax under Obama and in fact have negative tax bills which means subsidy from corporate tax breaks. We know that a global corporate tribunal will keep raising and raising taxes and fees on its colonial outposts----so the tax laws Obama and Clinton neo-liberals and neo-cons are gearing towards this---neo-cons will insist more and more of the social tax breaks like Earned Income and child deductions are eliminated to pay for the cuts to corporate tax rates. Clinton neo-liberals will pretend that global corporations are throwing their offshore taxes of trillions into a US infrastructure building that will simply all go back to these global corporations with tons of taxpayer subsidy as they are awarded all infrastructure contracts.
What does that mean for main street? It means that global corporations will take the bulk of all government infrastructure jobs paid for with US taxpayer money with these global corporations owning all this infrastructure and subcontract to smaller US businesses that will pay more and more of these taxes. Each time a Republican tax reform includes closing loopholes in exchange for lower rates----and main street will lose all those socially progressive tax breaks that have kept taxation low for the working class. There will be no middle-class.
THE LOOPHOLES COME BACK STRONGER THAN EVER. THEY SIMPLY NEED TO WRITE NEW LOOPHOLES.
This report presents the President’s Framework for business tax reform.
In laying out this Framework, the President recognizes that tax reform will take time, require work on a bipartisan basis, and benefit from additional feedback from stakeholders and experts. To start that process, this report outlines what the President believes should be five key elements of business tax reform.
PRESIDENT OBAMA’S FIVE ELEMENTS OF BUSINESS TAX REFORM
I.Eliminate dozens of tax loopholes and subsidies, broaden the base and cut the corporate tax rate to spur growth in America:
The Framework would eliminate dozens of different tax expenditures and fundamentally reform the business tax base to reduce distortions that hurt productivity and growth. It would reinvest these savings to lower the corporate tax rate to 28 percent, putting the United States in line with major competitor countries and encouraging greater investment in America.
II.Strengthen American manufacturing and innovation:
The Framework would refocus the manufacturing deduction and use the savings to reduce the effective rate on manufacturing to no more than 25 percent, while encouraging greater research and development and the production of clean energy.
III.Strengthen the international tax system, including establishing a new minimum tax on foreign earnings, to encourage domestic investment:
Our tax system should not give companies an incentive to locate production overseas or engage in accounting games to shift profits abroad, eroding the U.S. tax base. Introducing a minimum tax on foreign earnings would help address these problems and discourage a global race to the bottom in tax rates.
IV.Simplify and cut taxes for America’s small businesses:
Tax reform should make tax filing simpler for small businesses and entrepreneurs so that they can focus on growing their businesses rather than filling out tax returns.
V.Restore fiscal responsibility and not add a dime to the deficit:
Business tax reform should be fully paid for and lead to greater fiscal responsibility than our current business tax system by either eliminating or making permanent and fully paying for temporary tax provisions now in the tax code.
Now, knowing that the goal of the FED's policy with the help of Obama and a super-majority of 'Democrats'-----oh, I mean neo-liberals-----was to implode the US stock and bond market and doing a Bain's Capital on US corporations having much of American investments-----how does taxing the rich with capital gains taxes come into play except as a progressive posing policy? There will be no taxing the rich---they simply say that. Who are those middle-class Obama receiving a redistribution of wealth? Remember, this was Obama's mantra during the 2008 election and the only distribution of wealth under Obama was to the richest 300 men in Wall Street. Look below to see Obama claiming a bank tax when his Trans Pacific Treade Pact states no such tax will be allowed. THEY ARE OPENLY LYING.
So, global pols are still using all of that progressive talk having absolutely no intentions of doing anything with taxes other than creating a net that will move taxation to small business and working class. All of the progressive social taxes will be eliminated----a flat tax no doubt will be assigned to small business under making things easier----but that tax will grow and grow.
OBAMA AS WITH BUSH CLEANED THE US TREASURY DRY WITH WALL STREET FRAUD KILLING EVERY SOCIAL TRUST AND PROGRAM SO DO WE REALLY THINK HE NOW WANTS TAX SUBSIDIES FOR LOW-INCOME????
Neo-liberals want what Republicans want----to maximize profits for the richest corporations by moving all taxation to the workers and small businesses.
The tax reform gap between Obama and the GOP is widening
President Obama laid out his vision for the tax code. He's using a 'middle-class economics' agenda aimed at raising taxes on capital gains on high-income groups and redistribute the money from rich to working-class households. While, Republicans want to cut tax rates mostly. Will there be a middle ground?
By Howard Gleckman, TaxVox January 21, 2015
In his state of the union address, President Obama laid out his vision for the tax code. Earlier in the day, in a speech to the Chamber of Commerce, Senate Finance Committee chair Orrin Hatch (R-UT) described his. They are not only on different planets. They inhabit different galaxies.
Obama wants to raise capital gains taxes on high-income investors, cap the size of tax-preferred retirement savings accounts, and impose a new tax on big banks. He’d use the money to create or expand tax subsidies or boost direct spending on families with kids, low-income workers, those who want to go to college, and those without access to job-based retirement savings.
Hatch isn’t having much of it. He wants to use tax reform to promote savings and investment. He rejects tax hikes on businesses. And he’s opposed to using the code to “pick winners and losers.”
In the past, Republicans have backed variations on some of Obama’s ideas. Former House Ways & Means Committee chair Dave Camp proposed a bank tax as part of his reform plan. GOP senators Marco Rubio (R-FL) and Mike Lee (R-UT) have proposed their own expansions of the Earned Income Tax Credit and the Child Tax Credit. And Democrats, including Obama, have backed the ideas of simplicity and neutrality.
Looked at through this prism, there are places where the two sides could deal.
You could say (if you were more optimistic than I) that the two sides are merely staking out their negotiating positions before they move to middle ground. You could say that.
But look at the bigger picture. Republicans want to cut tax rates, encourage more savings and investment, and guarantee that a post-reform tax code does not raise more money than the current version. Obama wants to raise rates on some investment income, and generate additional revenue that could be spent on new government programs. Other than that….
Obama’s individual tax plan is more of a modest tweak than a full blown rewrite of the code, and goes against the grain of the standard cut-rates-and-broaden-the base design. Not only does it boost some rates, but it narrows the tax base by adding new targeted tax preferences.
Post-Camp, Republicans have avoided specifics. Hatch has assigned bipartisan working groups to develop ideas for reform and he’s unlikely to have much to say about details before they finish their work in May.
Since his elevation to Ways & Means Committee chair, Rep. Paul Ryan has said almost nothing in public about his own specific ideas for reform.
But it isn’t hard to see where the two parties are headed. Obama does not want an anodyne debate over tax reform. Rather, he’s using reform rhetoric to support a "middle-class economics"agenda aimed at using the tax code to redistribute some income from the rich to working-class households. For their part, Republicans want to use reform talk as a framework for a business-oriented growth agenda leavened by some targeted breaks for working families.
Is there a middle ground in all this? Sure there is. But neither party seems inclined to go there. In fact, the more they talk, the more apart they seem.
WAKE UP FOLKS-----IF GLOBAL POLS AND OBAMA ARE WORKING AS HARD AS THEY CAN TO CREATE TAX-FREE INTERNATIONAL ECONOMIC ZONES---WE KNOW THEY DO NOT INTEND TO TAX GLOBAL CORPORATIONS.
Below you see an article from a global economic summit that is working on a global corporate tax reform that would create policy that makes global corporations pay taxes to the nations owed. That means US global corporations would pay taxes in the US under these rules. Note, it is the US that is abstaining from any movement towards corporate tax reform that holds US global corporations accountable to pay taxes. THIS IS HAPPENING AS OBAMA AND CLINTON NEO-LIBERALS PRETEND THEY ARE INSTALLING THESE VERY KINDS OF LAWS IN THE US.
What US neo-liberals are doing is exactly what Republicans have as policy----keep allowing corporations to pay nothing. Neo-liberals and neo-cons want only to eliminate all the social deductions protecting the working class since they are killing the middle-class and that tax base.
This is how you know these global pols are doing nothing they say except install international economic zones that are TAX FREE!!!!!
'How BEPS Proposes to Stop Profit Shifting
The initiative has already been endorsed by the G20 and nearly 50 governments around the world have indicated that they will agree to the new set of rules and integrate them into their tax codes. There have been some notable hold-outs, however. Among them: the United States and dozens of multinational corporations who have said they’re just not ready for the new reforms'.
The Little Black Book of Billionaire Secrets
Oct 6, 2015 @ 09:10 AM
Many Companies Not Ready For Global Tax Reform
A monumental proposal for global tax reform will be presented at the G20 Finance Ministers meeting in Lima, Peru, later this week. That’s when the Organization for Economic Cooperation and Development (OECD) will present its final Base Erosion and Profit Shifting (BEPS) Project guidelines, a set of tax reform proposals designed to clamp down on tax avoidance among multinational corporations.
How BEPS Proposes to Stop Profit Shifting
The initiative has already been endorsed by the G20 and nearly 50 governments around the world have indicated that they will agree to the new set of rules and integrate them into their tax codes. There have been some notable hold-outs, however. Among them: the United States and dozens of multinational corporations who have said they’re just not ready for the new reforms.
To understand the current discord around BEPS, and gain some insight into whether or not it will soon become the new normal of global tax code, we must first look at the base tenets of the project.
At its core, BEPS was conceived to stop multinational companies from shifting their profits into low tax jurisdictions. For example, it is possible and perfectly legal under current tax laws, for a product that is sold in the U.S., which contains intellectual property and components that are domiciled in Ireland, to be claimed as profit in Ireland. In this example, that can be the difference between the company paying a 35% corporate tax rate in the U.S. or a 12.5% corporate tax rate in Ireland.
To stop this, the BEPS Project has introduced the concept of country-by-country reporting, which would require companies to declare the amount of revenue, profit and tax paid in each country, along with details on total employment, capital and assets used in each location. This would provide tax authorities with complete transparency into profit generated in each tax regime, and would eliminate any vagaries around where exactly the profits on goods sold can be claimed.
Resistance to BEPS
For the most part, tax authorities around the world are supportive of BEPS because, if it works, it could increase their tax revenues. As I wrote in May, some countries – notably the UK and Australia – have already begun to propose laws that preempt several of the BEPS ideals. More recently Spain, Mexico, the Netherlands, Poland, South Korea, Singapore and China also announced BEPS-like initiatives.
Citizens in Baltimore and other US designated International Economic Zones know one thing for sure-----THESE ZONES HAVE NO INTENTION OF HAVING GLOBAL CORPORATIONS THAT PAY TAXES---IT IS A TAX SUBSIDY ZONE.
We need to remember this as we listen to these global pols pretend to be creating tax policy that is small business and people-friendly. These massive global campuses will suck all economic activity from US cities and surrounding areas and will pay no taxes. Meanwhile, our local and regional businesses will be at a disadvantage in trying to export and they will be the one tax base for our local economy. This is why we will see taxation on small business and people rise more and more and more.
When you keep those global corporations out of a city's economy by refusing to allow Wall Street to build these International Economic Zones-----then taxation is spread across all business sectors creating a broad tax base that can be lowered----LOWERED. So, Obama and Clinton neo-liberals along with Republicans are all about maximizing global corporate profits and they will go with HIGHER AND HIGHER taxation policy.
PLEASE STOP ALLOWING GLOBAL CORPORATE POLS TO WIN ELECTIONS----BE ENGAGED IN POLITICS AND BE THE REAL PROGRESSIVE SOCIAL DEMOCRAT WANTING A LOCAL, DOMESTIC ECONOMY FOR LOWER TAXES.
Notice International Economic Zones are for developing nations only-----and now they are attaching them to US cities. Miami-----Houston-----and Silicon Valley are the oldest established IEZ.
International Free Trade Zone
June 29, 2010• International Trade• by EconomyWatch
Free Trade Zone, popularly known as FTZ, is an area where goods may be traded without any barriers imposed by customs authorities like quotas and tariffs. Free Trade Zone (FTZ) is a special designated area within a country where normal trade barriers like quotas, tariffs are removed and the bureaucratic necessities are narrowed in order to attract new business and foreign investments.
Free trade zones are developed in places that are geographically advantageous for trade. Places near international airports, seaports, and the like are preferred for developing free trade zones.
The Free Trade Zone can be defined as a labor-intensive manufacturing hub, which involves the import of components and raw materials, and the produced goods are exported to different countries.
The Free trade zones are located in the developing countries. Outsourcing the zone to the FTZ operator minimizes the bureaucracy and the businesses established in that zone may be given tax benefits. One of the main purposes of the free trade zones is to develop the economy of that location by providing more job opportunities, business options, manufacturing options, etc.