Posts Tagged ‘tax shelters’

The Con of the Decade Part II

The Con of the Decade Part II 

Courtesy of Charles Hugh Smith Of Two Minds 

(Part I here)

The con of the decade (Part II) involves sheltering the Power Elites’ income while raising taxes on the debt-serfs to pay the interest owed the Power Elites.

The Con of the Decade (Part II) meshes neatly with the first Con of the Decade. Yesterday I described how the financial Plutocracy can transfer ownership of the Federal government’s income stream via using the taxpayer’s money to buy the debt that the taxpayers borrowed to bail out the Plutocracy.

In order for the con to work, however, the Power Elites and their politico toadies in Congress, the Treasury and the Fed must convince the peasantry that low tax rates on unearned income are not just "free market capitalism at its best" but that they are also "what the country needs to get moving again."

The first step of the con was successfully fobbed off on the peasantry in 2001: lower the taxes paid by the most productive peasants marginally while massively lowering the effective taxes paid by the financial Plutocracy.

One Year Later, No Sign of Improvement in America’s Income Inequality Problem:

Income inequality has grown massively since 2000. According to Harvard Magazine, 66% of 2001-2007′s income growth went to the top 1% of Americans, while the other 99% of the population got a measly 6% increase. How is this possible? One thing to consider is that in 2001, George W. Bush cut $1.3 trillion in taxes, and 32.6% of the cut went to the top 1%. Another factor is Bush’s decision to increase the national debt from $5 trillion to $11 trillion. The combination of increased government spending and lower taxes helped the top 1% considerably.

The second part of the con is to mask much of the Power Elites’ income streams behind tax shelters and other gaming-of-the-system so the advertised rate appears high to the peasantry but the effective rate paid on total income is much much lower.

The tax shelters are so numerous and so effective that it takes thousands of pages of tax codes and armies of toadies to pursue them all: family trusts, oil depletion allowances, tax-free bonds and of course special one-off tax breaks arranged by "captured" elected officials.

Step three is to convince the peasantry that $600 in
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Zero Hedge

Thousands In Sweden Have Implanted Microchips Under Their Skin

Courtesy of ZeroHedge. View original post here.

More than 3,000 people in Sweden have implanted tiny microchips beneath their skin to replace their credit card information, identification, keys, train tickets, among other everyday items, Agence France-Press announced Sunday.

The implant, which is about the size of a grain of rice, utilizes Near Field Communication (NFC) technol...



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Phil's Favorites

Truth is Stranger than Fiction

 

Truth is Stranger than Fiction

Courtesy of 

Imagine Jamie Dimon made a killing shorting J.P. Morgan stock during the Great Financial Recession? And imagine he didn’t get in any trouble for it?

This actually happened 90 years ago at Chase Manhattan Bank, while Albert Wiggin was at the helm. This story was marvelously told in Once in Golconda, by John Brooks.

...

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Insider Scoop

PayPal's $2.2-Billion iZettle Acquisition Reassures A Sell-Side Bull

Courtesy of Benzinga.

Related PYPL Cantor's CoinDesk Consensus Conference Takeaways The Key To A Successful Fintech Partnership ...

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Chart School

Bulls Step In - Easing Bearish Concerns as Small Caps Breakout

Courtesy of Declan

Monday offered the bearish doji / swing high set up which had looked like it was going to create the 3-day bearish evening star set up across markets; this pattern did present itself Tuesday with the gap downs but today (Wednesday) saw rallies which were enough to close these gaps but not enough to negate the 'bearish evening star' setups. However, the bearish 'evening star' is typically a reliable setup and the lack of follow through lower suggests more upside is to come

The S&P had its breakout last week with supporting technicals all bullish, with the exception of relative performance. Despite this, look for a continuation of this rally.
 

...

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Biotech

Studying poop samples, scientists find clues on health and disease

Reminder: Pharmboy is available to chat with Members, comments are found below each post.

 

Studying poop samples, scientists find clues on health and disease

Though examining poop samples scientists working on the American Gut Project are getting a new perspective on the microbes in our guts. By Christos Georghiou/Shutterstock.com

Courtesy of Daniel McDonald, University of California San Diego

Have you ever wondered what’s going on in your poop? Perhaps not. But thi...



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Digital Currencies

HSBC Completes First Trade-Finance Deal Using Blockchain, Opening $9 Trillion Market For Mass Adoption

Courtesy of ZeroHedge. View original post here.

Just a few hours after German online bank Bitbond announced it now allows users to transfer loans anywhere in the world using bitcoin and other cryptos, a move which we said would result in a rapid adoption of blockchain technologies within the bank-disintermediation space, the FT reported that in a somewhat parallel ...



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ValueWalk

Buffett At His Best

By csinvesting. Originally published at ValueWalk.

Bear with me as I share a bit of my history that helped me create SkyVu and the Battle Bears games. The University of Nebraska gave me my first job after college. I mostly pushed TV carts around, edited videos for professors or the occasional speaker event. One day, Warren Buffet came to campus to speak to the College of Business. I didn’t think much of this speech at the time but I saved it for some reason. 15 years later, as a founder of my own company, I watch and listen to this particular speech every year to remind myself of the fundamentals and values Mr. Buffett looks for. He’s addressing business students at his alma mater, so I think his style here is a bit more ‘close to home’ than in his other speeches. Hopefully many of you find great value in this video like I have. Sorry for the VHS...



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Kimble Charting Solutions

The Stock Bull Market Stops Here!

 

The Stock Bull Market Stops Here!

Courtesy of Kimble Charting

 

The definition of a bull market or bull trends widely vary. One of the more common criteria for bull markets is determined by the asset being above or below its 200 day moving average.

In my humble opinion, each index above remains in a bull trend, as triple support (200-day moving averages, 2-year rising support lines, and February lows) are still in play ...



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Members' Corner

Cambridge Analytica and the 2016 Election: What you need to know (updated)

 

"If you want to fundamentally reshape society, you first have to break it." ~ Christopher Wylie

[Interview: Cambridge Analytica whistleblower: 'We spent $1m harvesting millions of Facebook profiles' – video]

"You’ve probably heard by now that Cambridge Analytica, which is backed by the borderline-psychotic Mercer family and was formerly chaired by Steve Bannon, had a decisive role in manipulating voters on a one-by-one basis – using their own personal data to push them toward voting ...



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Mapping The Market

The tricks propagandists use to beat science

Via Jean-Luc

How propagandist beat science – they did it for the tobacco industry and now it's in favor of the energy companies:

The tricks propagandists use to beat science

The original tobacco strategy involved several lines of attack. One of these was to fund research that supported the industry and then publish only the results that fit the required narrative. “For instance, in 1954 the TIRC distributed a pamphlet entitled ‘A Scientific Perspective on the Cigarette Controversy’ to nearly 200,000 doctors, journalists, and policy-makers, in which they emphasized favorable research and questioned results supporting the contrary view,” say Weatherall and co, who call this approach biased production.

A second approach promoted independent research that happened to support ...



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OpTrader

Swing trading portfolio - week of September 11th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Promotions

NewsWare: Watch Today's Webinar!

 

We have a great guest at today's webinar!

Bill Olsen from NewsWare will be giving us a fun and lively demonstration of the advantages that real-time news provides. NewsWare is a market intelligence tool for news. In today's data driven markets, it is truly beneficial to have a tool that delivers access to the professional sources where you can obtain the facts in real time.

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All About Trends

Mid-Day Update

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Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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