Culture minister says government is considering making those who own a computer screen but no television pay up
The French government is considering extending the television licence fee to include computer screen owners to boost revenues for public-sector broadcasting operations, the culture minister said on Saturday.
President François Hollande’s Socialist government aims to raise an extra €7.5bn (£6bn) this year through tax rises included in an amended budget bill to be unveiled next week.
Courtesy of the class division SWAT team, we already know all too well that Buffett had a lower tax rate than this secretary. We however have a question: according to just released data, the Obama’s paid $789,674 in taxes in 2011…
OBAMAS PAID 20.5% IN TAXES ON $789,674 IN 2011
From Bloomberg: “President Obama, wife Michelle had adjusted gross income of $789,674 in 2011, paid $162,074 in taxes, according to federal tax returns released by White House.”
Since the European colonial state of southern Bavaria Sachs (formerly known as the insolvent Hellenic Republic) no longer even pretends to be anything less than a pass-thru funding colony of its creditors, said creditors (European banks and various insurance companies) are about to send out the first group of colonial scouts in the form of German tax collectors. Also, since as reported previously, Greece will literally have to collect taxes to fund the Second “bailout package”, which is merely a front for on ongoing Greek bailout of European banks (recall that it is Greece who is partially funding the bailout Escrow Account), said tax collectors will assist their Greek counterparts (who will rather likely miss their quote of becoming 200% more efficient in 2012) in collecting money from Greek citizens to pay off German banks. If in the process a few (or all) bars of gold end up missing, so be it.
More than 160 German financial services executives are willing to come to Greece in order to strengthen the Greek tax mechanism, according to a report to be published in the German magazine ‘Wirtschafts Woche’, which will be released on Monday.
Corporate jets used by billionaires the Duke of Westminster and Lord Ashcroft are among the aircraft to be allocated free “carbon allowances” to offset the cost of a new green tax.
Almost 200 corporate jet owners, from oil company ExxonMobil to Starbucks and Iceland Foods, will be awarded free permits to compensate them for the new expense of Europe’s carbon trading scheme for aircraft.
Edwin talks about this book, how it came to be and the new editions. Edwin explains the role that the gold commission hearings and Ron Paul played. He also says how important and urgent monetary reform is for the United States and how the best chance of reform comes at the state level.
They discuss constitutional money in the USA and the authority of states to use gold and silver as legal tender, as well as legal precedent from the Supreme Court. He talks about how several states are contemplating legislation to allow gold and silver as alternative currencies.
Edwin explains the Treasury’s legal obligation to maintain parity between all forms of US currency, about Roosevelt’s gold seizure, the gold reserve act and the abolition of the gold clause. Edwin and James talk about the need for insurance against a currency collapse and how alternative currencies could play that role. They discuss the stark choice that follows a currency collapse: How the US reacted after the collapse of the Continental Dollar by enshrining sound money in the Constitution vs. how Weimar Germany drifted towards National Socialism.
He explains how US states have the legal duty and authority to carry out monetary reform. Given the deadlock in Washington, they must take the initiative to prepare for the coming crisis. Edwin and James also stress the need for a rational currency system which allows for economic calculation, and decry the current fiat, politically driven, irrational monetary system as incompatible with the free market, and a focus of financial instability.
They both talk about the current lack of financial education, and liken the alternative currency initiatives by state legislatures to building lifeboats for the Titanic that is the US dollar. They also talk about the different things that can be done to prepare for the impending collapse of the dollar. They also return to the Continental Dollar and how America’s founding fathers were able to learn from their mistakes by enshrining sound money in the Constitution and how, with today’s technology, we could do even better.
Read Full Transcript :
James Turk: I’m James Turk. I’m a director of the GoldMoney Foundation. I’m pleased to be here today with Edwin Vieira, the author of Pieces of Eight, which is a book that the GoldMoney Foundation just recently republished. Edwin, it’s a pleasure to be here with you today.
Edwin Vieira: My pleasure to be here with you, James.
James: Edwin, I can’t tell you how many emails that I’ve received saying great things about the book, Pieces of Eight. I want to start by talking a little bit about that. I remember reading the first edition of it back in 1983, perhaps?
Edwin: That’s right, I think.
James: And it was a great book. And now the new edition, which came out 20 years or so later. What’s the background for Pieces of Eight?
Too Rich to Live? The estate tax is set to come roaring back in January. That sets the stage for a perverse calculus: End it all-or leave a massive bill for your heirs to deal with.
Tim Gruber for The Wall Street Journal
Eugene Sukup, 81, visits the grave of his parents and grandparents at the Hillside Cemetery in Sheffield, Iowa.
It has come to this: Congress, quite by accident, is incentivizing death.
When the Senate allowed the estate tax to lapse at the end of last year, it encouraged wealthy people near death’s door to stay alive until Jan. 1 so they could spare their heirs a 45% tax hit.
Now the situation has reversed: If Congress doesn’t change the law soon-and many experts think it won’t-the estate tax will come roaring back in 2011.
Not only will the top rate jump to 55%, but the exemption will shrink from $3.5 million per individual in 2009 to just $1 million in 2011, potentially affecting eight times as many taxpayers.
The math is ugly: On a $5 million estate, the tax consequence of dying a minute after midnight on Jan. 1, 2011 rather than two minutes earlier could be more than $2 million; on a $15 million estate, the difference could be about $8 million.
Of course, there is a “death incentive” whenever Congress raises the estate tax. But it hasn’t happened in decades; the top rate has held steady or fallen since 1942, according to tax historian Joseph Thorndike of Tax Analysts, a nonprofit group. In fact, the jump from zero to 55% would be “the largest increase in a major tax that we’ve ever seen,” Mr. Thorndike says.
That possibility presents a bizarre menu of options for wealthy older people-and their heirs. Estate planning was never cheerful, but now it is getting downright macabre, at least for the tax averse.
This tax season will be kind to Bank of America and Wells Fargo: It appears that neither bank will have to pay federal income taxes for 2009.
Bank of America probably won’t pay federal taxes because it lost money in the U.S. for the year. Wells Fargo was profitable, but can write down its tax bill because of losses at Wachovia, which it rescued from a near collapse.
Embattled Governor: $1.5 Billion In School Aid Next To Be Halted
Gov. David A. Paterson
NEW YORK (CBS) ― For hundreds of thousands of New Yorkers, the check won’t be in the mail — at least not on time. New York State has stopped paying tax refunds and won’t start again until next month.
The tax refund delay is part of a bigger cash crunch.
Message to New Yorkers: don’t start spending your tax refund money because it’s going to be delayed.
Half a billion dollars’ worth of refund checks were put on hold last Friday, and state beancounters won’t start sending you your money until at least April 1.
“I apologize that we had to do this. I hope it serves notice on the public of how serious our financial situation is,” Gov. David Paterson said.
Several hundred thousand New York taxpayers will be affected with most getting an average refund of $1,000. People who filed in late February and early March might have to wait as long as six weeks till the checks are in the mail.
The governor said the move was unavoidable. He’s also planning to withhold $1.5 billion in school payments and aid to local governments.