Tag Archives: Bandit Gang Writ Large

China to offer tax breaks to foreign companies after GOP tax bill

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“The New York Times reported that China will temporarily allow foreign companies to not pay tax on their earnings.  The exemption will ‘promote the growth of foreign investment, improve the quality of foreign investment and encourage overseas investors to continuously expand their investment in China,’ China’s Finance Ministry said in a statement Thursday.  However, those companies must invest those earnings from the exemption in areas being promoted by the Chinese government, like technology and mining. The exemption is retroactive to Jan. 1, 2017.”

Read more: http://thehill.com/policy/international/china/366752-china-to-offer-tax-breaks-to-foreign-companies-after-gop-tax-bill

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China Is Moving in the Right Direction on Tariffs

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“While U.S. trade policy under the Trump administration has become a confusing mix of bluster, posturing, threats, and uncertainty, China has gone in the other direction, at least incrementally by lowering some of its tariffs unilaterally.  On November 24, China’s Ministry of Finance announced that it would cut tariffs on 187 consumer products. The lower duty rate took effect on December 1, so Chinese consumers are now benefitting from more competition and lower prices.  This is the fourth tariff cut since 2015.”

Read more: https://fee.org/articles/china-is-moving-in-the-right-direction-on-tariffs/

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Washing Machine Tariffs Will Hurt Americans

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“The protectionist move against LG and Samsung comes, perversely, just as those companies are set to employ thousands of Americans in Tennessee and South Carolina.  It may also inadvertently put the final nail in the coffin of one of the longest-standing bastions of the American service industry, Sears Holdings Corp. Trump should reject the remedy proposal put forth by the International Trade Commission. Making it more expensive for LG to import the washers it produces for Kenmore, one of Sears’ most popular product lines, will jeopardize the retailer’s efforts to revitalize its brand.”

Read more: https://fee.org/articles/washing-machine-tariffs-will-hurt-americans/

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Double standard: Mugabe ‘was leasing out land to whites’, says report

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“As recently as late October, Mugabe said black owners who invited whites back to rent and work seized fields would lose their farms.  But the Zimbabwe Independent reports that the former first family was doing exactly that: leasing out part of Mazowe Citrus Estate to a company in which some of the main shareholders were white.”

Read more: https://www.news24.com/Africa/Zimbabwe/revealed-mugabe-was-leasing-out-land-to-whites-says-report-20171211

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Senate Tax Bill’s Marginal Rates Could Top 100% for Some

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“The possible marginal tax rate of more than 100% results from the combination of tax policies designed to provide benefits to businesses and families but then deny them to the richest people. As income climbs and those breaks phase out, each dollar of income faces regular tax rates and a hidden marginal rate on top of that, in the form of vanishing tax breaks. That structure, if maintained in a final law, would create some of the disincentives to working and to earning business profit.”

Read more: http://www.economicpolicyjournal.com/2017/12/insane-senate-bills-marginal-rates.html

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Congress Needs to Put a Stop to Asset Forfeiture

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“Revenues generated through forfeiture may be spent with virtually no oversight. Funds distributed to local or state agencies via the equitable sharing program are similarly beyond the reach of state or local lawmakers.  Perhaps this lack of accountability explains how funds supposedly reserved for ‘law enforcement purposes’ wind up getting spent on margarita machines, training trips to Hawaii, and chrome accents for Harley Davidson motorcycles.”

Read more: https://fee.org/articles/congress-needs-to-put-a-stop-to-asset-forfeiture/

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In Duterte’s anti-drug pogrom, police and cameras tell different stories

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“Chilling surveillance footage of a drug-war operation in Manila raises fresh doubts about police actions in President Rodrigo Duterte’s brutal anti-narcotics campaign. Reuters obtained the footage, which shows the deadly operation from start to finish.”

Read more: https://www.reuters.com/investigates/special-report/philippines-drugs-surveillance/

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Judge halts Indiana city’s code-enforcement property seizure racket

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“The judge had particularly harsh words for Hall, who indicated in emails that it would be ‘financially disastrous’ for residents to try to improve their homes, because the homes would be demolished anyway. Such statements, coupled with the city’s policy of not levying fines against LLC-owned homes, undermine the goal of maintaining safety, Mount said.”

Read more: https://www.theindianalawyer.com/articles/45541-special-judge-halts-irrational-charlestown-code-enforcement

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How police used a traffic stop to take $91,800 from an innocent man

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“He only got a $25 ticket for improperly wearing his seat belt and a warning for ‘lane use.’ But Wyoming law enforcement officers found and eventually seized the $91,800 in cash, as it was hidden in a speaker cabinet — by getting Parhamovich, under what he claims was duress, to sign away his interest in the money through a waiver.  He has since tried to get his money back. But state law enforcement officials have rejected his pleas. Responding to a request for records related to Parhamovich’s case, state officials said they consider the cash ‘abandoned.’ The state has even moved to forfeiture the money without notifying Parhamovich of the relevant court hearing until after it happened.”

Read more: https://www.vox.com/policy-and-politics/2017/12/1/16686014/phillip-parhamovich-civil-forfeiture

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US Senate Moves to Criminalize Undeclared Cryptocurrency Ownership

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“If passed, the bill would likely have far-reaching effects for users of digital currencies both in the US and abroad.”

Read more: https://cointelegraph.com/news/us-senate-moves-to-criminalize-non-disclosure-of-cryptocurrency-ownership

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