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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Gottfried who wrote (1591)	7/6/2014 7:37:57 PM
From: Jerome	Read Replies (1) \| Respond to of 26758

Hi Gottfried....all this tax evasion breaks my heart. Take Citigroup ....the most recent government fines for the subprime mess is $10 billions of dollars From CBS evening news: The U.S. Department of Justice is reported to be pressuring New York City-based Citigroup to pay as much as $10 billion in penalties for allegedly misleading investors about the quality of mortgages that were bundled into securities. Bank of America, based in Charlotte, N.C., may have to pay out as much as $12 billion, according to media reports. How much money did Citigroup get from the TARP program (Paid for by the taxpayers)?This saved them from going bankrupt. Try This......http://seekingalpha.com/article/107514-citibank-bailout-300-billion-doesnt-sound-like-a-lot-anymore The federal government agreed Sunday to take unprecedented steps to stabilize Citigroup Inc. by moving to guarantee close to $300 billion in troubled assets weighing on the bank's books, according to people familiar with details of the plan. Lets see if we got this right.....The taxpayers funded them to the tune of $300.plus billions. (of taxpayers money) Citi paid about $40 Billions in penalties for violating out tax laws and rules. And now Citi is crying because it will cost them $11.3 billion to repatriate earnings that they did very best to hide from the Tax man. Gee Gottfried....why don't we take up on online collection for CITI.....it should be enough for the CITI executives to buy some tissues so that those crocodile tears don't stain their silk handkerchiefs.. Thanks for posting that article. PS...Perhaps Citigroup should relocate their corporate headquarters to Afghanistan. They have a very low tax rate and a few small bribes can get you out of paying any taxes.

To: Gottfried who wrote (1591)	7/6/2014 8:03:10 PM
From: Jerome	Respond to of 26758

Re-adjusting the news to reflect reality instead the voice of the obscure. salon.com RAMS BBC staff ordered to stop giving equal air time to climate deniersThe network will stop airing "debates" featuring members of the anti-science fringe LINDSAY AB Follow Bill Nye (Credit: AP/John Davisson) Good news for viewers of BBC News: you’ll no longer be subjected to the unhinged ravings of climate deniers and other members of the anti-science fringe. In a report published Thursday by the BBC Trust, the network’s journalists were criticized for devoting too much air time (as in, any air time) to unqualified people with “marginal views” about non-contentious issues in a misguided attempt to provide editorial balance. “The Trust wishes to emphasize the importance of attempting to establish where the weight of scientific agreement may be found and make that clear to audiences,” the report reads. “Science coverage does not simply lie in reflecting a wide range of views but depends on the varying degree of prominence such views should be given.” So far, according to the Telegraph, about 200 staff members have attending seminars and workshops aimed at improving their coverage. If this idea caught on......it would devastate a of politicians.

To: Gottfried who wrote (1591)	7/6/2014 9:15:47 PM
From: Kirk ©	Read Replies (1) \| Respond to of 26758

Just think. We could get about 2 months of current level QE and more taxes right away if we let them bring it back to the US tax free. Apple also tells investors what it would owe if it were to bring offshore profits home. It has amassed $54.4 billion in these earnings, according to its filings, and though it has no plans to repatriate the money, it said such a move would cost it $18.4 billion. That reflects a 33.8 percent rate. If we let them bring that money home tax free and they paid it all as bonuses to the CEOs, then Apple's CEO would owe on that $54.4 billion 12.3% in CA income taxes or $6.69B 39.9% in Fed income taxes on $54.4B less $6.69B paid in CA taxes or 39.9% of $47.4B or another $19.4B Total taxes paid would be $6.7B + $19.4B = $26.1B or a tax rate of 48.0%! Let 'em bring it home and do with it as they wish. The bottom line is ALL the $54.4B would be in the US and taxing authorities would get nearly half of it if they were greedy and gave it all to the CEOs. Taxing authorities would get less if the companies actually invested the money and created jobs by investing it... but even the $54B to be spent in the US rather than sitting overseas would get the money into the economy. (Assuming they were not buying US treasuries in their overseas banks... which they probably are but I'd still rather have the money here)