Bail Out U.S. Debt with Your Retirement Funds?

With only two weeks left before the November 4, 2014 midterm elections, the Democrats have evoked a populist riff to bolster the votes to retain majority senate control. Any companies that seek legal ways to invest their previously taxed foreign earnings in the U.S. without penalities, the CEO is branded as a "corporate deserter" by Obama. So let's go after the big bad boogyman, the greedy bloodsucking huge corporate behemoths stealing the milk out of babies' bottles who are left to starve! 

Every year, there are news stories outlining how much multinational corporations are paying in taxes. Many of the more sensational stories lead people to believe that U.S. companies pay little or nothing in taxes on their foreign earnings.

Source: KPMG LLP, U.S. audit, tax and advisory services firm,

Some politicians suggest implementing a “minimum tax” on corporate foreign earnings to prevent tax avoidance. Unfortunately, legislation that would impose these types of taxes on multinational corporations is based on a misunderstanding of how U.S. international tax rules work.

In any discussion of U.S. corporate tax policy and tax reform, it is important to understand how and to what extent multinational firms’ foreign earnings are taxed. Let's look at official U.S. IRS Tax Tables Key Findings: 

• The United States’ worldwide system of corporate taxation requires multinational corporations to pay taxes twice, first to the foreign country in which they do business and then to the IRS after they repatriate their profits.

• Petroleum and coal products manufacturing corporations paid $42.7 billion in foreign taxes on $118.2 billion in taxable income. Remarkably, this industry accounted for a quarter of all foreign earned income and 33 percent of all foreign taxes paid by U.S. multinationals. The average effective tax rate paid by petroleum and coal products manufacturers was 36.1 percent.

• While there are undoubtedly U.S. multinationals that paid low effective rates on their foreign earned income in some countries, a majority of foreign taxable income reported by U.S. corporations was taxed at effective rates between 20 and 30 percent overseas.

Source: IRS Form 1118 (2010).

Note: Includes only repatriated income and income subject to current taxation. Does not include income currently held abroad.

Conclusions

While it is undoubtedly true that U.S. multinational firms use numerous tax planning techniques to minimize the taxes, they pay on their foreign earnings.

IRS data shows that the subsidiaries of U.S. multinationals reported paying more than $128 billion in corporate income taxes to foreign tax authorities on roughly $470 billion in foreign taxable income in 2010.

"Averaged across some ninety countries, U.S. companies paid an effective tax rate of 27.2 percent on that income. While many corporations paid less than that on foreign earned income, a majority of foreign income in 2010 faced effective tax rates of 20 percent or higher in foreign countries. Furthermore, most corporate income was earned, and most corporate income taxes paid overseas were paid, by manufacturers, especially those engaged in petroleum and coal products manufacturing."

NOTE: Reporters and lawmakers who criticize U.S. companies for “avoiding” taxes on their foreign earnings need to be more careful with their language and acknowledge that our U.S. worldwide tax system requires U.S. firms to pay taxes twice on their foreign profits:  

First time to the host country

Second time to the U.S. IRS

A major point is that before U.S. companies can retain earnings to reinvest their profits back home that they pay the applicable foreign country's taxes. Then, the residual income can be repatriated to the shareholders' dividends for income distribution; company operating expenses for payroll. R&D or inventory; and cash reserves.

Have you ever asked yourself what 401K programs, Union profit sharing programs and company retirement programs are about? Hint: It's to grow tax-free investment monies to pay out for your future program benefits; it's not to reduce overall principle earnings power by paying extra income taxes to support government waste or for more debt bailouts. When you withdraw future benefits as income, the IRS then taxes you.

Any discussion about reforming the U.S. corporate tax code must keep these facts in mind. 

How Gay is this?

EVE'S BIG CORE PROBLEMIn a recent nationally reported case of a classic baby mix-up at birth, that fact in itself is not a new occurrence nor was it really noteworthy. However, the particular background details have proven otherwise. This situation was just ripe and ready to happen as "man-made" planning in birthing test-tube babies was just that, a "man-made" creation is by human design fraught with "man-made" frailties.

In this case the string of controversial moral decisions and missteps began early in deciding to have a test-tube baby by ordering fromNeapolitan Man - Vanilla & Chocolate Flavor a mail-order house catalog of genetic materials, birthing the child and then the shock of discovering that the baby was the wrong flavor, chocolate instead of vanilla. There is no disparaging humour suggested here, but there is ironic sarcasm since "man-made" means just that and meddling into human genetics has its risks as well as rewards. Genome engineering has enabled many women to gestate babies to term as human obstetrics has evolved to offer mothers a range of conception choices. Sometimes, things don't go as planned.

As this birth, in itself, is a mixed blessing with a new life and loved by both parents, major socio-cultural implications have arisen in both parents' minds. They now have a mixed race child who will be raised within a predominantly white community where they live. They are deeply concerned about their child's "skin color" raising the hackles of racial prejudice based upon their own experiences and interactions about sexual preferences growing up as lesbians. Okay, now it's time out here! 

1. First of all, the United States is not Qatar or Saudi Arabia or Iran where the Queran's Sharia laws dominate societal mores and lesbians are an offense against the religious morals of society and stoned to death.  

2. Secondly, the United States is not a slave society anymore nor does it have an intolerable society that harbors prejudice against minorities.

3. Thirdly, the United States has a mixed race President and it sure didn't stop him from getting into the top job in racially diverse American society.   

My recommendation to those parents:  Let's stop the "Wah-Wah!" and "Oh Poor Me!" You made your decisions to get married, to have a child, to live where you want. I see no one, anywhere, that blocked, attacked or stopped you from your lifestyle choices. The imagined concerns for prejudicial animus to any minority group are virtually non-existent and absurd in the United States and are a rich, red herring to create a legal subterfuge of created damages in order to collect monetary retribution from the clinic. Heaven forbid if any birth defects had developed too!

Please don't select me for the jury box or your case could go south quickly during deliberation as the award would be miniscule even assuming the best possible outcome too. Get a life!

Here is a unique solution to one problem for many lesbian wanting artificial insemination: What are the intimacy issues of a lesbian being inseminated by a stranger's sperm?  How about if her partner's brother donates his sperm with her female partner's familial DNA to carry a true blood relationship within their baby's DNA? The pregnant partner would have her lesbian partner's DNA mixed in with her ova. What do you think of that idea?

Below is the Las Vegas Sun article about the pending lawsuit. 

By Mark Gillispie, Associated Press

Wednesday, Oct. 1, 2014 | 11:01 p.m.

Jennifer Cramblett is interviewed at her attorney’s home in Waite Hill, Ohio, Wednesday, Oct. 1, 2014. Cramblett has sued a Chicago-area sperm bank after she became pregnant with sperm donated by a black man instead of a white man as she’d intended.

CLEVELAND — An Ohio woman and her partner have sued a Chicago-area sperm bank after she became pregnant with sperm donated by a black man instead of a white man as she'd intended.

Jennifer Cramblett was five months pregnant and happy with her life in April 2012. She and her partner had married months earlier in New York, and within days of their nuptials she had become pregnant with donor sperm at a fertility clinic in Canton.

Cramblett, 36, and her partner, Amanda Zinkon, 29, were so elated that they called Midwest Sperm Bank LLC outside Chicago to reserve sperm from the same donor in the hope that Zinkon would someday also have a child.

But that's when Cramblett received some disturbing news, says a lawsuit filed Monday against Midwest Sperm Bank in Cook County, Illinois. She learned from an employee at the sperm bank that she had been inseminated with sperm from No. 330, a black donor, and not No. 380, a white donor she and Zinkon, who are white, had chosen.

"How could they make a mistake that was so personal?" Cramblett said during a telephone interview on Wednesday.

According to the lawsuit, her excitement about the pending birth was replaced with "anger, disappointment and fear."

"They took a personal choice, a personal decision and took it on themselves to make that choice for us out of pure negligence," Cramblett said.

Telephone calls to Midwest Sperm Bank were not returned on Wednesday. It's unclear who the sperm bank's attorney is.

Cramblett said she and Zinkon love their 2-year-old daughter, Payton, very much and wouldn't change anything about her. But they are concerned about raising her in the predominantly white community where they live.

The lawsuit said they had moved from Akron to Uniontown for better schools and to be closer to Cramblett's family. She said that as a lesbian she has felt the sting of prejudice but doesn't know what it's like to be mistreated because of her skin color.

The lawsuit says Cramblett also is worried about how Payton will be treated in her "all-white, and often unconsciously insensitive family."

Therapists have recommended that Cramblett, Zinkon and Payton move to a more a racially diverse community with good schools, the lawsuit said.

Cramblett said she decided to sue to prevent the sperm bank from making the same mistake again. The lawsuit says the sperm bank has no electronic record-keeping and no quality controls that would have prevented it from sending the wrong sperm to fertility clinics.

The lawsuit seeks a minimum of $50,000 in damages. Cramblett's attorney, Tim Misny, said some of the compensation would pay for ongoing counseling. 

ISIL - YOU CAN'T HANDLE THE TRUTH!

The Real Threat from ISIL

By Ronald Kessler

The current debate over the Islamic State of Iraq and the Levant misses the real threat: a weapons of mass destruction attack that would cause massive casualties.

In interviews for my book "The Secrets of the FBI," Robert S. Mueller III told me when he was FBI director [September 4, 2001 - September 4, 2013] that what keeps him awake at night is the possibility of a terrorist attack using radiological biological, or chemical weapons that would wipe out millions of Americans in cities like New York and Washington.

Given that ISIL has more than $1 billion in cash and additional millions coming in from oil revenue every week, it would be easy for the terrorist group to buy off an expert who could unleash such an attack within the next month or two. Since ISIL members include Americans with U.S. passports, bringing such weapons into this country would be no problem at all. 

"The biggest threat comes from individuals who have had some association with the United States, understand the United States, can move either individually or with others relatively freely into the United States and within the United States," Mueller has told me. 

Thus, those who say ISIL poses no immediate threat to the homeland because no credible plot has yet been detected or would only shoot up some people in a shopping mall or knock down a building are as wrong as those who thought before 9/11 that al Qaeda consisted of a bunch of cavemen who could never launch a major attack on the U.S. 

• Moreover, because of laxness and corner cutting by Secret Service management exposed in my book The First Family Detail, the agency has not kept up to date with the latest technology for detecting WMD or preventing an attack on the White House. Having ignored the ISIL threat for nearly a year as it obviously gained momentum, President Obama could tragically wind up being its victims. 

Even a WMD attack that does not kill a great number of people would have a crushing psychological impact.

"A singular lone wolf individual can do things in the dark of the night with access to a laboratory with low quantities of material and could hurt a few people but create a devastating effect on the American psyche," according to Dr. Vahid Majidi, who was the FBI’s assistant director in charge of the Weapons of Mass Destruction Directorate. 

Another "huge" potential threat, says Arthur M. "Art" Cummings II, who headed FBI counterterrorism and counterintelligence investigations, is the explosion by terrorists of a nuclear weapon high in the atmosphere to unleash an electromagnetic pulse (EMP). The electromagnetic pulse generated by the blast would fry all electronics in North America. Because almost everything we need to survive relies on microchips—computers, financial records, furnaces, refrigerators, police dispatchers, hospitals, telephones, cars, trains, trucks, and planes—such a blast would send America back to the 1300s. 

In the event of an EMP attack, the electrical power grid would be destroyed because its computers would be inoperative. Transformers critical to it would take years to replace. The vast majority of Americans would die from starvation or disease or would freeze to death, according to Dr. William Graham, who was chairman of the bipartisan congressional Commission to Assess the Threat to the United States from EMP Attack. And those exposed to biological, radiological, or chemical weapons would die horrible deaths. 

The Obama administration has said it will take three years to wipe out ISIL In the meantime, we could all become its victims. As long as ISIL exists, the question is not whether but when cataclysmic attacks by the barbaric group on the U.S. homeland will occur. 

BIO: Ronald Kessler, a former Washington Post and Wall Street Journal investigative reporter, is the author of "The Secrets of the FBI" and "The First Family Detail: Secret Service Agents Reveal the Hidden Lives of the Presidents".

http://www.mainjustice.com//2014/09/18/the-real-threat-from-isil/  

Afghan Schoolgirl Teaches Obama World History

 

Malala Yousafzai, don't pay attention to this girl - she had a hole in her head!

That fact is true, but not a reason to ignore her warning on true danger - Pakistani militants aka The Taliban. Malala was feted at the United Nations after a failed head-shot in a Taliban assassination attempt to rid Pakistan of this female scourge pushing for women's fundamental education rights against Sharia Laws. Afghanistan remains one of the worst places on Earth to be a woman, despite billions of dollars in aid and pledges to better their lives. There is now mounting concern that such freedoms will not be protected and may even be traded away as Kabul seeks a peace deal with the Taliban, as most foreign troops prepare to leave the country by the end of 2014.

"Public opinion is confused about the Malala issue. Many people hate Malala," said Zubair Torwali, a newspaper columnist from her home valley of Swat. "Anything here in Pakistan related to the West or America becomes a thing of conspiracy. The Taliban's ideology is flourishing in Pakistan. It is victorious."

The simple truth is that the Taliban are doing as well as they are because they are being supported by Pakistan in Afghanistan. Afghanistan's old ethnic conflict has become a proxy war for the bitter feud between the region's two nuclear powers, Pakistan and India. Like the Israeli-Palestinian issue, the problems between India and Pakistan stem from the ill-conceived and poorly implemented geopolitics of the partition of the British Empire in 1948. And the Taliban are being supported by Pakistan because the Pakistani generals fear being squeezed in an Indian nutcracker, faced with not only a massive Indian presence to their south but a pro-Indian regime to the north in Afghanistan.

The real truth is even more complex. There is not just a proxy war between India and Pakistan, but also Iran, Saudi Arabia, and the US too. So, what lies at the heart of the current war in Afghanistan is the hostility between India and Pakistan, ongoing for more than 60 years and the malign influence of Qatar, Saudi and other vastly rich gulf states on an impoverished Pakistan forcing Salafism onto Islamic believers as the truer pure Islam of the Queran along with violence that strict religious radicalism often brings.

Additionally, Obama has told Afghanis and Pakistanis that the U.S. is and will be leaving in 2014, thereby creating a vacuum relinquishing back the region to the Afghan goverment and Taliban. Will the Taliban get together for a big kumbaya group hug? ...Hmmn, that will never happen because India most likely would be filling the security vacuum left by the US withdrawal, advance its regional interests, compete with its Chinese rival for influence in the country as China hedges mining minerals and resources by investing heavily into the rural populations of mountainous areas, and thwart its Pakistani enemy at the same time. 

Boy, isn't this great news? All of our U.S. "blood and treasures" have been dumped down into this Afghanistan - Pakistan regional rat hole, and for what?  It's certainly not for any form of "Democracy" in Afghanistan or Pakistan, nor in an al Queda "Theocracy" under a totalitarian Islamic regime somewhere. The American people have been "sold a bill of goods" by our Washington politicians to enter a war chasing after the al Queda and a President Obama that cut back pentagon funding so that we ended up just chasing after our own tail - and so, What are the real facts? We certainly did not learn them in U.S. public school history classes. Stupid students. Stupid citizens - Dead soldiers. Sad. 

Afghanistan has deposits of rare earths, gold, copper, iron and other minerals worth an estimated $3 Trillion. The problem is that they are located in one of the country's most dangerous spots, on the south bank of the Helmand River, in a traditional Taliban stronghold. All cell phones need the other rare earth minerals for circuit boards. China produces 97 per cent of the world’s rare earths output. However, it is estimated to hold only 30 per cent of the world reserves.

So now China takes away needed massive mineral deposits while the U.S. walks away with nothing for all of their body bags or military assets and money wasted.

FACTOID: According to a recent Congressional Research Service report, world demand for rare earth metals is estimated to be 136,000 tons per year, and projected to rise to at least 185,000 tons annually by 2015. With continued global growth of the middle class, especially in China, India and Africa, demand will continue to grow. High-tech products and renewable energy technology cannot function without rare earth metals. Neodymium, terbium and dysprosium are essential ingredients in the magnets of wind turbines and computer hard drives; a number of rare earth metals are used in nickel-metal-hydride rechargeable batteries that power electric vehicles and many other products; yttrium is necessary for color TVs, fuel cells and fluorescent lamps; europium is a component of compact fluorescent bulbs and TV and iPhone screens; cerium and lanthanum are used in catalytic converters; platinum group metals are needed as catalysts in fuel cell technology; and other rare earth metals are essential for solar cells, cell phones, computer chips, medical imaging, jet engines, defense technology, and much more.

Read more at: http://phys.org/news/2012-09-rare-earth-metals.html#jCp

Nancy Pelosi's P.C. Police Force

San Francisco has been "Different" since the era of the "Flower people" in the 1960's. Have you ever wondered why folks in California appear so confused?  Well, this might show why...

The San Francisco Police Department

• Chief Heather Fong (left), is the first SFPD female, lesbian chief of police.
• Theresa Sparks (center),  a former male, is president of the San Francisco Police Commission, CEO of a multi-million dollar sex toy retailer, and a transgender woman.
• Sgt. Stephan Thorne (right), a former female, is the first transgender male SFPD police officer.

But what explains it? Well, this might...

Their Representative in Congress is Nancy Pelosi.

...Any Questions?

No one can complain about real gender neutrality issues when hiring to fill jobs when there are six categories represented: Male, female, transgender female, transgender male, lesbian and homosexual.