WASHINGTON: ‘ Executive Actions Aimed at Rolling-Back Off-Shore Deals ‘

#AceFinanceNews – WASHINGTON – September 23 – The Obama administration on Monday unveiled long-awaited executive actions aimed at rolling back a recent rash of offshore tax deals.

Treasury Secretary Jack Lew said the new rules would at least lead companies to second-guess the benefits of shifting their legal addresses abroad — and slashing their tax bills in the process.

The new rules target the economic benefits of the tax deals and seek to make it more difficult for companies to complete these kinds of cross-border-mergers, known as “inversions.”

These transactions may be legal, but they’re wrong,” Lew told reporters on Monday.

For some companies considering deals, today’s action will mean that inversions no longer make economic sense.”

Still, Lew  also stressed the new rules, which would go into effect for deals that close Monday or after, don’t eliminate the need for Congress to act when it returns to Washington after November’s elections.

The secretary added that the department would consider further rules if Congress remains deadlocked on how to stop the deals.

This ensures that offshore tax deals will continue to be a potent political debate this year, after Democrats have questioned the patriotism of companies that move abroad.

I believe America does better when hard work pays off, responsibility is rewarded, and everyone plays by the same set of rules,” President Obama said in a Monday statement praising Lew and the new rules.

The Treasury’s announcement could give a new spark to a Democratic campaign issue that has yet to catch fire with voters.

Democrats have hammered companies like Burger King, medical device-maker Medtronic and pharmaceutical company AbbVie for seeking to reincorporate abroad.

Source: 

#ANS2014

#afn2014, #cross-border-mergers, #inversions, #obama, #offshore-deals, #patriotism, #tax-bills, #washington

` United States to sell `Strategic Petroleum Reserves ' for the first time since the Gulf War '

#AceFinanceNews The Obama administration plans to sell 5 million barrels, or less than 1 percent of the Strategic Petroleum Reserve, calling the move a test of the petrol distribution system.

The last time this happened was in August 1990 before the first Gulf War.

“Due to the recent dramatic increase in domestic crude oil production, significant changes in the system have occurred — including pipeline expansion, construction of new infrastructure, reversed flow of existing pipelines and increased use of domestic crude oil terminals,” William Gibbons, the US Energy Department spokesman said in a statement.

The government rejected a connection with the turmoil in Ukraine or other geopolitical events.

On Thursday the price of West Texas Intermediate (WTI) crude futures for April delivery fell by 2.3 percent on the New York Mercantile Exchange. It’s the biggest drop in two months.

WTI crude has a high sulfur content, similar to oil exported from Russia.

The large sale might be a test of the US system’s readiness for a hiccup in Russian supply, analysts suggest.

“The timing of this makes it seem like a warning shot across the bow towards the Russians,” the Financial Times quotes Michael Wittner, the head of global oil research at Société Générale in New York.

Reuters – Financial Times – AP

#AFN2014

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Are the Producers of the US of A Play – Starting to Make Themselves Known

Can Billionaire Philanthropists Replace the Federal Government?

Some wealthy individuals are using the government shut-down to promote a very different vision for America’s future.

October 11, 2013


The US Treasury Department is closed as a result of the government shutdown. (AP aPhoto/Carolyn Kaster)

When the clock ran down on congressional negotiations and the federal government shut down on October 1, preschoolers across the country were locked out of their Head Start centers. But then, Laura and John Arnold, a billionaire couple from Houston, made a personal gift of $10 million to Head Start. The Arnolds, with an estimated net worth of $2.8 billion, amassed their fortune before either spouse turned 40, through careers in the oil industry, particularly John’s energy trading hedge fund, Centaurus Advisors.

Seal of the United States Department of the Tr...

Seal of the United States Department of the Treasury (Photo credit: Wikipedia)

Ace News Group – Editorial:  

This is an excellent article from the Nation and brings me to the real players that people have heard me mention so many times, either in the form of the producers of the play, or those that manipulate the worlds resources. I do not mean the bankers or the oil men ,they are bad enough. These are the people who stand in the wings of the theatre  waiting for the final curtain of the US of A Plan, to fail! 

They have waited in the back ground just for the right time, when they can wield their power of money, this will not be the end, but the beginning of the end. This will be when all laws, rules and regulations can be changed, at the stroke of a pen and the almighty $!

This war will not be with weapons of mass destruction, even though these are bad enough for the those that are on the receiving end! This war will be fought out with who has the most money, power and control over the minions who do their bidding, for payment of course! These hidden people are given many names, from the Bildebergs, illuminati  with the real money such as controlled by their chosen few, these named the Rothschild’s or Rockefeller’s! Though the real identity of the controller’s is still unknown ,and will remain so until such time as the curtain of this US of A play finals falls, and the American Dream is finally over for the people who unknowingly were manipulated to the tune of the real producers, and eventually the writers of the script, that started in earnest after World War 2, and will end on floor of the senate very soon, but only when the controllers say so, and not a second before!                       

#acedebtnews, #acenewsservices, #aceworldnews, #10-million, #arnold, #bilderberg-group, #chemical-weapon, #government-shutdown, #head-start-program, #houston, #john-arnold, #john-d-arnold, #obama, #russia, #syria, #united-nations, #united-states

Are Romney’s Pledges As Good As They Seem-When He Says He Will Provide Jobs

 

Last week Mitt Romney committed himself to picking a Federal Reserve Board chairman that will try to keep workers’ wage down, likely costing them tens of thousands of dollars over the next decade. You remember reading the front page news stories on this pronouncement?
Of course you didn’t read them, because the media largely ignored President Romney’s statement about his choice of Fed chairs. And all of them ignored its implications for people’s wages and living standards. The media would rather focus on the ongoing debate over President Obama’s birth certificate or, when we are lucky, tax policy decisions that might in the extreme case make $1,000-$2,000 a year in difference to the typical family. The much more important policy decisions that allow people like Mitt Romney to be incredibly wealthy and the rest of the country to be struggling are totally off the media’s radar screen.
Romney’s statement about the Fed fits in the latter category because he said that he would pick a chair who supports a “strong dollar.” The implication is that he wants the Fed to run policies that keep the dollar over-valued relative to other currencies, making U.S. goods uncompetitive in international markets. Courtesy of Dean Baker – Huffington Post 

My Personal View: 

Will this type of action not cut wages and at the same time create a no-jobs for the man in the street, mentality? As anyone knows by keeping wages low you cut the ability of the economy to grow by the power of your workers! The sheer fact that there is less money in the economy will prevent growth and with the Fed ready to issue another round of fiscal stimulation, this will help overheat an already massive debt burden! Then the only way is that the balance of debt over growth will tip them into a deeper recession than the 1930’s!

The only way any country, nation or people can make any country prosperous is by rewarding people for a job well done, that are at the sharp-end. As these people are the coal on which any economy will grow! Then instead of warming themselves on Capitol Hill on the embers of a dying economy they can look out and see a nation of people proud to be Americans,once again.

 

#barack-obama-citizenship-conspiracy-theories, #current-events, #dean-baker, #federal-reserve-system, #mass-media, #mitt-romney, #obama, #politics, #republican, #romney, #united-states