The Daily Blog Open Mic Thursday 8th October 2015

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openmike

 

Announce protest actions, general chit chat or give your opinion on issues we haven’t covered for the day.

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5 COMMENTS

  1. ( Another reason why the people of USA and NZ should oppose the TPP…white collar corporate tax evasion crime)

    ‘Top 500 US companies keep $2.1 trillion where tax collectors can’t get it’

    https://www.rt.com/usa/317839-top-usa-companies-trillion-overseas/

    “The top 500 US companies retained $620 billion that would have otherwise been taxed and spent by the government by using overseas bank accounts, according to a report from Citizens for Tax Justice and the US Public Interest Research Group Education Fund.

    “At least 358 companies, nearly 72 percent of the Fortune 500, operate subsidiaries in tax haven jurisdictions as of the end of 2014,” the report states. In total, the 500 companies keep about $2.1 trillion in tax havens outside the US, most often in Bermuda or the Cayman Islands.

    So-called “offshore” profits often don’t leave the US economy, however. The money is still circulating within America, just under the name of a registered foreign subsidiary of a US company. The report’s conclusion is that the real problem lies in too many loopholes resulting in too little government revenue.

    • the local tax-fact that has blown my little mind..is that some 12 out of our 20 richest people declare taxable incomes of only about seventy-five grand..

      ..how seriously fucked up is that..?

      ..add that to the (industry-estimates) of three to five billion in tax-evasion by corporates/the richest..each and every year..

      ..and it it difficult to keep yr mind not blown..

      ..but we ‘can’t afford’ to do anything about the quarter of a million children living in poverty..eh..?

  2. THE PANDAS

    You sign an FTA with China and then sell them a lot of milk products and they buy land etc in NZ. There is goodwill and reciprocation.

    Then you sign an FTA with other Pacific rim countries that excludes China and is claimed to be an instrument designed to weaken China.

    How does your trading partner feel about this?

    Therefore you need to make amends, perform an act that restores the mana of your trading partner.

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