Tax Them Till They Bleed
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Jean-Léon Gérôme Truth Coming Out of Her Well to Shame Mankind 1896 An entire library of articles about Big Tech is coming out these days, and
[See the full post at: Tax Them Till They Bleed]What does a sustainable social/economic system need.
Taxes are not needed or necessary.
Borrowing and lending are not needed or necessary.
What is needed and necessary is adequate control of printing of the money supply.This book of Thierry Meysan (in French) is not available even in the bookshops of Paris. However, he is a big hit in Russia. I wonder why.
What Russian TV is saying about Thierry Meyssan’s book
Sous nos yeux : Du 11 Septembre à Donald Trump… (French Edition at Amazon)
Derivatives should be banned completely, or only allow very limited types. They are a mix of insurance and gambling, and are one of the greatest threats to the world.
I believe derivatives are the main reason for Greece’s current situation. In the early days of Greece’s problems it wanted to default on 70 billion Euros of debt, not a massive amount in today’s world. BUT it would have triggered derivatives with a total payout of 700 billion Euros, which could possibly have destabilised the global financial system. It couldn’t be allowed to happen, and wasn’t! I think this is the point when Greece was taken over.
The last estimate I read about suggested derivatives had a possible value of 1,000 trillion dollars. By comparison one article said you could buy every piece of land and building in the whole world for around 500 trillion dollars. While most derivatives would cancel each other out there would still be many trillions in payouts.
As derivatives usually involve some kind of security they have been senior debt in bank failures. With bail-in this means that if a bank goes bust your life savings would be used to pay off these derivatives. Oh, and if you have a mortgage with a bank it has possibly pledged your house as security against a loan so you could lose your house as well [rehypothecation].
You’re covering the point that Facebook, Google, Amazon, and hey, CitiGroup too, are the only thing left of our economy. However, every one of them is a complete, incredible loser, having never made money and indeed losing billions each year. What is it that Sam Zell said? That the valuation of Amazon requires it to be 25% of U.S. GDP in 5 years? A company that has never made money in 20 years, and it making 18% less this quarter. But they make it up on the volume.
So get the idea right out of your head that it’s “ad revenue” that keeps the companies in business. They’re like 10-20x the size of the whole world ad market, have only pennies of ad revenue, claim more ad clicks than there are demographic persons, yet have no trouble funding themselves. From where? I mean, statistically, there are no retail investors left, only algos, so from where is a company that has no revenue, no business model, no prospects, and is presently being revealed as an overpriced accounting fraud, getting billions and billions of investment a year?
That is, unless it’s really an arm of the intelligence service, setting up corporate power and spying as an end-run around the Constitution and the 4th Amendment. You think? Because there’s no other explanation in my book, and the $500M payout of Amazon from the CIA–which funds Bezos and WaPo–is appallingly apparent, and is just one event in one month of the year, not even tracking the flow-of-funds from the $6 Trillion missing from the Pentagon, the multiple Black Budgets, the channeled funds from the GSEs, the Treasury’s PPT, the Fed Funds quid pro quo with the major trading banks, and the fellow billionaire insiders who would prefer to have a surveillance world governed by multinational (not your nation) corporations, unaccountable and larger than governments, splitting them into more digestible pieces in Scotland and Catalonia.
I mean, really, is it so hard to follow? Suppose you had a taco cart with two customers a day, and he somehow made millions, his stock never went down, and bought up all the other restaurants and the City Council too, would you be a wee bit suspicious where the money came from? Because that’s the exact parallel here. It’s not a business, it’s a violent, abusive fraud. It’s the trillions we find missing in the water budgets of Flint, the City of Detroit, Baltimore, the P.R. electric grid, aren’t missing, they’re channeled to the profits of Google and the bailouts of Citi. It’s 10x the money you need to fix health care. It’s also illegal, unethical, murderous, and fatal both to men and society. And everybody eagerly signs up. Won’t even go down the street to the less-bad free encrypted mail service and browser.
What can I say? You’re the citizens. If you want to fix it, do your duty.
Guess we should thank our lucky stars for the “Unsubscribe” button. Before it is no longer an option, that is.
“What is needed and necessary is adequate control of printing of the money supply.”???
We could set up the “US Department of Adequate Money Supply Control” staffed by a bipartisan committee of incumbent politicians whose function is to decide how much printing of currency would be “adequate” to insure a favorable outcome in each election, maybe? Oh, wait….
Money’s not needed or necessary (redundant, but I’ll go with it).
Flailing within the system (taxing) isn’t a solution. Ending the system is a solution.
Economic sustainability requires that a business or country uses its resources efficiently and responsibly so that it can operate in a sustainable manner to consistently produce an operational profit.
A Google tax, also known as a diverted profits tax, refers to anti-avoidance tax provisions that have been introduced in several jurisdictions to deal with the practice of profits or royalties being diverted to other jurisdictions that have lower or zero tax rates. Large multinational companies can still save billions of dollars by using foreign subsidiaries and tax havens. At https://www.thepaystubs.com/blog/tax/what-is-futa-tax you can find out all the valuable information about futa tax. Other methods used to reduce taxes include accelerated depreciation and stock options, while some industries even offer specific tax breaks.
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