–For third year in a row, Foley’s effective tax rate was zero 18 Oct 2014 (CT) Republican gubernatorial nominee [and plagiarist] Tom Foley, the wealthy Greenwich investor who spent $11 million of his own fortune running against Democratic Gov. Dannel P. Malloy in 2010, had an effective federal tax rate of zero in 2013. The Foley campaign allowed reporters to view summaries of the candidate’s 2013 federal income tax returns Friday — after last month granting members of the press access to summaries of his 2010, 2011 and 2012 returns. The most recent returns reveal that Foley paid zero percent in federal taxes for the third year in a row, a fact that will probably fuel Democratic criticism about the Republican candidate’s wealth.
Archive for the ‘economics’ Category
THEY’RE looking for the few, the proud — and the really desperate.
For a measly $US19 ($21.70) an hour, a government contractor is offering applicants the opportunity to get up close and personal with potential Ebola patients at JFK Airport in New York — including taking their temperatures.
Angel Staffing Inc. is hiring brave souls with basic EMT or paramedic training to assist Customs and Border Protection officers and the Centres for Disease Control and Prevention in identifying possible victims at Terminal 4, where amped-up Ebola screening started on Saturday.
EMTs will earn just $US19 an hour, while paramedics will pocket $US29. Everyone must be registered with the National Registry of Emergency Medical Technicians in the US.
The medical staffing agency is also selecting screeners to work at Washington Dulles, Newark Liberty, Chicago O’Hare and Hartsfield-Jackson Atlanta international airports.
“Wow, that’s really scary … Be safe everybody,” Facebook user Jaclyn Namer wrote under a posting for the job.
Others were a little more eager to lend a hand.
“I can help on weekends in Chicago,” Jeremy Voris volunteered on Facebook.
As part of the new screening process, travellers arriving from Sierra Leone, Guinea and Liberia must answer questions upon arrival, then have their temperatures taken with no-touch thermometers, CDC Director Thomas Frieden announced last week.
About 150 people travel from or through the three Ebola-afflicted countries to the US every day, customs officials said.
Most of them land at JFK, where officers fear catching the deadly disease.
“We were told what to do for a passenger, but what happens with us? What if I get a fever? What should I do?” one officer said.
The officer was also troubled by possible flaws in the screening plan.
“For example, if someone has 108F (42C) fever and we catch it after they deplane, there were 132 other people on the plane with him and you just let them go,” he said.
“You just possibly contaminated the person next to you and the flight attendant who handed you something.”
Meanwhile, a law-enforcement official at JFK was outraged over the handling of a plane carrying a man from Nigeria who died following an on-board vomiting fit.
The door to the jet was already open when first responders showed up.
Even though Ebola isn’t airborne, the official insisted it could have been a potential health threat.
“We don’t know if anybody bolted from that plane or if the inside of the door is contaminated,” he said.
Bono’s anti-poverty foundation ONE is under pressure to explain its finances after it was revealed that only a small percentage of money it raises reaches the needy
Is the New York Times being guest edited by Rush Limbaugh? Today it runs with a fascinating takedown of the Clinton Foundation – that vast vanity project that conservatives are wary of criticising for being seen to attack a body that tries to do good. But the liberal NYT has no such scruples. The killer quote is this:
For all of its successes, the Clinton Foundation had become a sprawling concern, supervised by a rotating board of old Clinton hands, vulnerable to distraction and threatened by conflicts of interest. It ran multimillion-dollar deficits for several years, despite vast amounts of money flowing in.
Over a year ago Bill Clinton met with some aides and lawyers to review the Foundation’s progress and concluded that it was a mess. Well, many political start-ups can be, especially when their sole selling point is the big name of their founder (the queues are short at the Dan Quayle Vice Presidential Learning Center). But what complicated this review – what made its findings more politically devastating – is that the Clinton Foundation has become about more than just Bill. Now both daughter Chelsea and wife, and likely presidential candidate, Hillary Clinton have taken on major roles and, in the words of the NYT “efforts to insulate the foundation from potential conflicts have highlighted just how difficult it can be to disentangle the Clintons’ charity work from Mr Clinton’s moneymaking ventures and Mrs Clinton’s political future.” Oh, they’re entangled alright.
The NYT runs the scoop in its usual balanced, inoffensive way – but the problem jumps right off the page. The Clintons have never been able to separate the impulses to help others and to help themselves, turning noble philanthropic ventures into glitzy, costly promos for some future campaign (can you remember a time in human history when a Clinton wasn’t running for office?). And their “Ain’t I Great?!” ethos attracts the rich and powerful with such naked abandon that it ends up compromising whatever moral crusade they happen to have endorsed that month. That the Clinton Global Initiative is alleged to have bought Natalie Portman a first-class ticket for her and her dog to attend an event in 2009 is the tip of the iceberg. More troubling is that businessmen have been able to expand the profile of their companies by working generously alongside the Clinton Foundation. From the NYT:
Last year, Coca-Cola’s chief executive, Muhtar Kent, won a coveted spot on the dais with Mr. Clinton, discussing the company’s partnership with another nonprofit to use its distributors to deliver medical goods to patients in Africa. (A Coca-Cola spokesman said that the company’s sponsorship of foundation initiatives long predated Teneo and that the firm plays no role in Coca-Cola’s foundation work.)
In March 2012, David Crane, the chief executive of NRG, an energy company, led a widely publicized trip with Mr. Clinton to Haiti, where they toured green energy and solar power projects that NRG finances through a $1 million commitment to the Clinton Global Initiative.
This is typical Clinton stuff. The second thing I ever wrote for this website was about how corporations invest in politicians as a way of building their brand and raising their stock price. It can lead to some funny partnerships. This, from 2011:
Just this month, bedding manufacturer Serta announced that it will be sponsoring Bill Clinton’s keynote address to an industry conference in August. “To us,”’ said the head of the company, “Clinton represents leadership. This appearance shows Serta is a leader and is taking a leadership position. This singles us out.” Some might say that it is beneath a former president to basically endorse Serta’s new “Perfect Sleeper” line, even with its “revolutionary gel foam mattress”.
The cynical might infer from the NYT piece that the Clintons are willing to sell themselves, their image, and even their Foundation’s reputation in exchange for money to finance their personal projects. In Bill’s case, saving the world. In Hillary’s case, maybe, running for president.
It’s nothing new to report that there’s an unhealthy relationship in America between money and politics, but it’s there all the same. While the little people are getting hit with Obamacare, high taxes and joblessness, a class of businessmen enjoys ready access to politicians of both Left and Right that poses troubling questions for how the republic can continue to call itself a democracy so long as it functions as an aristocracy of the monied. Part of the reason why America’s elites get away with it is becuase they employ such fantastic salesmen. For too long now, Bill Clinton has pitched himself, almost without question, as a homespun populist: the Boy from Hope. The reality is that this is a man who – in May 1993 – prevented other planes from landing at LAX for 90 minues while he got a haircut from a Beverley Hills hairdresser aboard Air Force One. The Clintons are populists in the same way that Barack Obama is a Nobel prize winner. Oh, wait…
The Clinton Foundation has been a questionable entity in Haiti as it spent tens of millions on phone calls, $70,000,000 on wages and enough to send the population of Washington, DC to Haiti on American Airlines.
The one Clinton Foundation Project that I can remember, other than investing $2.500,000 in a 5 Star luxury hotel, was a school project in Leogane, costing something like $6,000,000.00. This involved in moving a half-dozen FEMA trailers, left over from the New Orleans disaster, to Haiti as school rooms.
These had already been banned in the States because of toxix materials, in their construction. As a result – coupled with the fact they had no air conditioning, the student never sat inside. The made them sick.
So they say outside.
A $6,000,000 boondoggle that should have cost nothing.
We could have received the trailers, as donations.
Our friends would have transported them to Haiti, and on to Leogane for nothing.
And then there is the big industrial park in northern Haiti. Cynics suggest the Clintons benefted financially from this.
Some suggest Clinton purchased 4000 acres on the St. Marc Road for future sale.
The people of Haiti do not like Bill Clinton.
Posted in 9-11, economics, foreign policy, government, history, law, media, military, politics, tagged American history, covert government, hidden government group, Iran Contra, JFK assassination, Watergate on October 15, 2014 | 1 Comment »
For some time now, I have been analyzing American history in the light of what I have called structural deep events: events, like the JFK assassination, the Watergate break-in, Iran-Contra, or 9/11, which repeatedly involve law-breaking or violence, are mysterious to begin with, are embedded in ongoing covert processes, have political consequences that enlarge covert government, and are subsequently covered up by systematic falsifications in the mainstream media and internal government records.
The more I study these deep events, the more I see suggestive similarities between them, increasing the possibility that they are not unrelated external intrusions on American history, but parts of an endemic process, sharing to some degree or other a common source.
For example, one factor linking Dallas, Watergate, Iran-Contra, and 9/11, has been the involvement in all four deep events of personnel involved in America’s highest-level emergency planning, known since the 1950s as Continuity of Government (COG) planning, or more colloquially inside the Pentagon as “the Doomsday Project.” A few of these actors may have been located at the top, as overseers of the secret COG system. Others – including some I shall talk about today – were located further down in its secret communications network.
Posted in economics, foreign policy, government, military, tagged Air Force, Andrews Air Force Base, INVESTIGATION, Iraq, Iraqi government, Lebanon, Saddam Hussein on October 14, 2014 | Leave a Comment »
–$1.2 billion to $1.6 billion had been stolen and moved to a bunker in rural Lebanon
12 Oct 2014 Not long after American forces defeated the Iraqi government of Saddam Hussein in 2003, caravans of trucks began to arrive at Andrews Air Force Base outside Washington on a regular basis, unloading an unusual cargo — pallets of shrink-wrapped $100 bills. The cash, withdrawn from Iraqi government accounts held in the United States, was loaded onto Air Force C-17 transport planes bound for Baghdad. Over the next year and a half, $12 billion to $14 billion was sent to Iraq in the airlift, and an additional $5 billion was sent by electronic transfer. Exactly what happened to that money after it arrived in Baghdad became one of the many unanswered questions from the chaotic days of the American occupation, when billions were flowing into the country from the United States and corruption was rampant.
- FOR THE ECONOMIC SUBSCRIBERS
The U.S. dollar is dying ►0:55
– ZIRP and QE to infinity is inevitable ►5:04
– Fed “taper” is a lie ►9:21
– Systemic failure ahead ►14:37
– Logical conclusion: rejection of U.S. dollar ►18:24
– How would a “Gold Trade Standard” impact the global banking system? ►22:11
– Why did gold and silver prices fall in the last couple weeks? ►39:39
Each month James is joined by David Smith of the Geneva Business Insider to discuss the latest breaking stories in politics, finance and society. This month they tackle: Libya’s sovereign wealth fund’s billion dollar lawsuit against Goldman Sachs; the many, many fraud cases and convictions against GlaxoSmithKline; and the latest DOJ show trials against the banksters.
A week ago I noticed that the Treasury published our total increase in Treasury bonds for the past year. It had grown by $1,085,888,854,036.50. Some people mistakenly think that this is the Treasury deficit. Not quite. They have not accounted for the privilege certain Too Big To Jail Banks have which is that one or more of them is allowed to counterfeit US Treasury bonds and pocket the cash.
The Treasury deficit is calculated the old fashioned way. You take federal expenses and subtract revenues. The total Treasury deficit for 2013 cited by Joint Statement of Secretary Lew and OMB Director Burwell on Budget Results for Fiscal Year 2013 was $680 billion.
If you subtract the Budget deficit from the total number of Treasury bonds sold you have: $1,085,888,854,036.50 minus $680 billion which equals $405,888,854,036.50.
So the Bankers are allowed to take more than $405 billion a year from you because they can counterfeit Treasury bonds. The Federal Reserve has 21 primary dealers who handle Treasury transactions through the New York branch of the FED.
Is there any evidence that there are large amounts of fake Treasury bonds floating around? Yes. There is. There is a rather intriguing story from June 2009 about two Japanese men headed to Switzerland who were detained in Italy with 134 billion dollars in US Treasury bonds. The bonds turned out not to be genuine according to the US Treasury. It is illegal to possess counterfeit securities, but the men were sent back to Japan without being charged. Bloomberg did a story a few days later saying this was merely bizarre news.
8 Oct 2014 Eleven months ago, Washington Gov. Jay Inslee (D-Dimwit) signed a package of tax breaks and incentives aimed at keeping tens of thousands of Boeing jobs in the Puget Sound region. Valued at $8.7 billion over 27 years, the set of bills amounted to the single largest tax break any state has ever given to a single company. Now, policymakers who feel they bent over backwards to accommodate the aerospace giant feel burned: In the past two weeks, Boeing announced it would move thousands of jobs out of Washington State…When Boeing’s machinists’ union was considering a contract the company said was necessary to keep the 777X jobs in the state, Inslee and Rep. Rick Larsen (D-Useless) urged union members to vote on the contract, without specifying how they should vote, at the request of Boeing executives; both statements angering their labor supporters.
Posted in economics, government, military, tagged AAF, Afghan Air Force, Department of Defense, government inquiry, military transport planes, Scrap, United States government on October 11, 2014 | 1 Comment »
10 Oct 2014 Sixteen military transport planes bought by the United States government for the Afghan Air Force (AAF) at a cost of nearly $500 million were recently destroyed by the Afghan military and sold for scrap parts at around six cents per pound, prompting a government inquiry to determine why millions of taxpayer dollars were wasted on the ill-fated program. The Department of Defense purchased for the AAF a total of 20 Italian-made G222 military transport planes at a cost of $486 million. However, the fleet was grounded in March 2013 “after sustained, serious performance, maintenance, and spare parts problems” were discovered, according to the Special Inspector General for Afghanistan Reconstruction (SIGAR).
The Bureau of Labor Statistics headline this morning reads: “Payroll employment increases by 248,000 in September; unemployment rate declines to 5.9%.”
How can this be? US corporations are investing in buying back their own stocks, not in new business ventures that produce new jobs.
According to the Census Bureau’s Poverty Report, US real median family income has declined to the level of twenty years ago. Consumer credit and real retail sales are not growing. Construction is limited to rental units. Construction shows 16,000 new jobs, half of which are “specialty trade contractors” or home remodelers.
The payroll jobs report lists 35,300 new jobs in retail trade. How is this possible when J.C. Penny’s, Macy’s, Sears, and the dollar store chains are in trouble and closing stores, and shopping centers are renting space by the day or hour?
At a time when there is a surfeit of office buildings and only 500 new jobs in “heavy and civil engineering construction,” the jobs report says 6,000 new jobs have been created in “architectural and engineering services.” What work are these architects and engineers doing?
The 4,900 computer systems jobs, if they exist, are likely short-term contracts from 6 to 18 months. Those who have the jobs are not employees but “independent contractors.”
The payroll jobs report gives an unusually high number–81,000–of “professional and business services” jobs of which 60,000 are “administrative and waste services,” primarily “temporary help services.”
“Health care and social assistance” accounts for 22,700 of the new jobs, of which 63 percent consist of “ambulatory health care services.”
“Performing arts and spectator sports” gave the economy 7,200 jobs, and 20,400 Americans found employment as waitresses and bartenders.
State governments hired 22,000 people.
Let’s overlook the contribution of the discredited “birth-death model” which overstates on average the monthly payroll jobs by at least 50,000, and let’s ignore the manipulation of seasonal adjustments. Instead, let’s assume the numbers are real. What kind of economy are we looking at?
We are looking at the workforce of a third world country with the vast bulk of the jobs in low-pay domestic service jobs. People working these part-time and independent contractor jobs cannot form a household or obtain a mortgage.
As John Titus, Dave Kranzler and I have shown, these jobs are filled by those aged 55 and over who take the low paying jobs in order to supplement meager retirement incomes. The baby boomers are the only part of the US labor force whose participation rate is rising. Of the claimed new jobs in September, 230,000 or 93 percent were jobs filled by those 55 and older. Employment of Americans of prime working age (25-54) declined by10,000 jobs in September from the August level.
As John Titus, Dave Kranzler and I have shown, these jobs are filled by those aged 55 and over who take the low paying jobs in order to supplement meager retirement incomes. The baby boomers are the only part of the US labor force whose participation rate is rising. Of the claimed new jobs in September, 230,000 or 93 percent were jobs filled by those 55 and older. Employment of Americans of prime working age (25-54) declined by 10,000 jobs in September from the August level.
Raytheon, a major American defense contractor and the world’s largest producer of guided missiles, has won an Israeli contract to supply $149.3 million in Tamir missiles, the projectiles used in Israel’s Iron Dome defense system.
The Iron Dome system was jointly developed and funded by the US. It is credited by the IDF with shooting down over 700 rockets from Gaza that were headed for Israeli population centers, a “kill ratio” of about 85-90 percent of the total rockets fired at population centers. (Most of the 4,500 rockets fired from Gaza fell in uninhabited areas in Israel or, in some cases, inside Gaza.)
The contract, from Israel’s Rafael Advanced Defense Systems Ltd., is intended to expand Israel’s supply of Tamir missiles, according to a Raytheon press release last week.
Turner Broadcasting, the parent company of CNN, will cut its total workforce by about 10% in the coming weeks through a mix of buyouts, layoffs and other measures, the company said Monday.
The reductions are part of a broader effort to save money and refocus investment, known internally as Turner 2020.
The company said about 1,475 positions — out of 14,000 full-time positions worldwide — would be eliminated in the coming weeks.
Within CNN Worldwide, where the workforce totals roughly 3,500, about 300 positions will be cut, according to a person with direct knowledge of the plan, totaling 8.5%.
CNN Worldwide includes CNN’s U.S. and International television channels, HLN, CNN Digital, and other ventures.
About 130 of the CNN reductions are being achieved through voluntary buyouts, the person said.
A buyout program for Turner staffers age 55 and older with ten-plus years at the company was announced in August.
The remainder of the CNN positions, about 170, will be cut through layoffs.
Along with CNN, Turner owns cable channels like TNT, TBS, and the Cartoon Network. The headcount reductions there will also come from both buyouts and layoffs.
The eliminations “are at all levels of the company’s news, entertainment, kids, young adult and sports networks and businesses, as well as corporate functions, in 18 Turner locations around the world,” Turner CEO John Martin said in a memorandum to staffers.
“Those whose jobs are impacted will receive every consideration and the respect they are due, starting with severance pay for transition,” Martin wrote. “Whatever their job title, business unit or location, they have contributed to the success story that is Turner Broadcasting, and they leave with our thanks and sincere best wishes.”
The layoffs will take place in the next two weeks.