Wall St protests spread to global stage -The protests against the global financial system that have swept across the US in the past month have spread to the international stage, inspiring offshoot occupations in London, Sydney, Frankfurt, Hong Kong, Toronto and other cities. A “global day of protest” is planned for Saturday in at least 868 cities in 78 countries. Organisers say they are broadly in favour of greater democracy in global financial and political systems. “Undemocratic international institutions are our global Mubarak, our global Assad, our global Gaddafi,” said a statement from Egality, an activist group that is helping co-ordinate the global protests. Shimri Zameret, a co-ordinator for Egality, said that events such as the Arab spring, the student-led protest movement in Chile and Spain’s indignados, or outraged, who have been demonstrating against joblessness and austerity measures, were all part of the same global movement demanding greater democracy and fairness.The inspiration for Saturday’s protests is the Occupy Wall Street movement in the US, which began in New York last month with the occupation of Zuccotti Park in downtown Manhattan, but has since spread to cities including Boston, Philadelphia, Chicago, Atlanta and San Francisco. auckland, christchurch, sidney, hongkong, tokyo, et al already underway…
Can someone tell me why the following tax dodge would be illegal? It seems kind of obvious, so there must be something wrong with it…
In place of a salary, my employer and I set up a deal. He lends me, say, $1,000,000 at zero interest, and I lend it back to him at 10% interest. I hold it for one year and one day, and then start cashing it in at a rate of $100,000+interest per month. He then reloans me the same $100,000 with the same swap. Now all of my earnings are capital gains, aren’t they? Throw in a minimum wage salary on the side (which would get stuffed into 401k’s or Roths) and I am set. To make it even more fun, if I had sufficient assets to handle the lumpy cash flows, we could set up up where I had years with no or minimal pay (say by getting big lump sums on 12/31 the year prior and 1/1 the year after). Then I could even milk the welfare state every other year as a fringe benefit! lol
Anyway, I am sure this is wrong. Just wondering what kinds of policies we have that ban this kind of garbage.
Here’s a topic for which the time has come. Are our local and state police forces becoming too militarist in the face of peaceful assembly and protest? From Nieman Watchdog web cite, http://www.niemanwatchdog.org/index.cfm?fuseaction=ask_this.view&askthisid=00529 “Local police forces are now little armies. Why?”By John Hanrahan
“Let’s do the Time Warp again!”
Rocky Angry Picture Show? ’14th’ might be less disorienting.
from the FT:
Wall St protests spread to global stage -The protests against the global financial system that have swept across the US in the past month have spread to the international stage, inspiring offshoot occupations in London, Sydney, Frankfurt, Hong Kong, Toronto and other cities. A “global day of protest” is planned for Saturday in at least 868 cities in 78 countries. Organisers say they are broadly in favour of greater democracy in global financial and political systems. “Undemocratic international institutions are our global Mubarak, our global Assad, our global Gaddafi,” said a statement from Egality, an activist group that is helping co-ordinate the global protests. Shimri Zameret, a co-ordinator for Egality, said that events such as the Arab spring, the student-led protest movement in Chile and Spain’s indignados , or outraged, who have been demonstrating against joblessness and austerity measures, were all part of the same global movement demanding greater democracy and fairness.The inspiration for Saturday’s protests is the Occupy Wall Street movement in the US, which began in New York last month with the occupation of Zuccotti Park in downtown Manhattan, but has since spread to cities including Boston, Philadelphia, Chicago, Atlanta and San Francisco. auckland, christchurch, sidney, hongkong, tokyo, et al already underway…
Can someone tell me why the following tax dodge would be illegal? It seems kind of obvious, so there must be something wrong with it…
In place of a salary, my employer and I set up a deal. He lends me, say, $1,000,000 at zero interest, and I lend it back to him at 10% interest. I hold it for one year and one day, and then start cashing it in at a rate of $100,000+interest per month. He then reloans me the same $100,000 with the same swap. Now all of my earnings are capital gains, aren’t they? Throw in a minimum wage salary on the side (which would get stuffed into 401k’s or Roths) and I am set. To make it even more fun, if I had sufficient assets to handle the lumpy cash flows, we could set up up where I had years with no or minimal pay (say by getting big lump sums on 12/31 the year prior and 1/1 the year after). Then I could even milk the welfare state every other year as a fringe benefit! lol
Anyway, I am sure this is wrong. Just wondering what kinds of policies we have that ban this kind of garbage.
Here’s a topic for which the time has come. Are our local and state police forces becoming too militarist in the face of peaceful assembly and protest? From Nieman Watchdog web cite,
http://www.niemanwatchdog.org/index.cfm?fuseaction=ask_this.view&askthisid=00529
“Local police forces are now little armies. Why?” By John Hanrahan
Open thread Oct. 4, 2011
Earth to Rdan, come in ,please. It’s the 14th of October.