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Thom's blog
Oh, won't somebody please think of Mitt Romney???
The bankers, billionaires, and wealthy elite are losing one of their favorite offshore tax havens. The Cayman Islands has finally agreed to cooperate with the U.S., and make it more difficult for the wealthy to stash money overseas. Officials in that nation have agreed to accept provisions of the Foreign Account Tax Compliance Act, which will take effect in July of next year. After that, the Caymans will have to alert our Treasury Department about Americans' who have more than $50,000 dollars stashed in tax-free accounts in that nation.
The FATCA was enacted in 2010, after a Swiss banking scandal revealed that wealthy Americans were hiding substantial fortunes overseas. According to Reuters, banks and financial institutions that refuse to comply with the new law will be hit with a 30 percent withholding tax, which would essentially freeze them out of U.S. financial markets. The deal between the U.S. and the Caymans also puts pressure on several other low-tax nations, like Luxembourg, Bermuda, and the British Virgin Islands, to sign on to similar plans meant to fight U.S. tax evasion.
As it becomes more difficult to hide money offshore, rich people will actually have to pay their taxes, and there will be incentive for the wealthy to invest here at home. The days of the rich skipping out on their patriotic duty of paying taxes could soon be over, and the wealthy may have to start contributing to the care of our commons, which made their vast fortunes possible in the first place.
-Thom
(What do you think? Tell us here.) |
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Tonight on The Big Picture on RT TV at 7pm and 9pm... How rich is too rich? (check your local listings for stations or stream at RT, and catch past shows on Youtube)
Have a question or comment for Thom? Grab your phone, hit record and send your video to YourTakeMyTake@gmail.com and we may air it on "The Big Picture."
Screwed: Egypt - who's to blame?
Your Take / My Take Live: Call Thom LIVE at (202) 904-2134 TONIGHT 7-8pm ET (check local listings)
Geeky Science: Is sugar toxic to humans?
Daily Take: Will Washington, DC be renamed Reaganville?
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Wednesday's Daily Stack 
Hour One: Libertarianism, Capitalism Killed My Best Friend...
Hour Two: Is it time for America to build a smart grid?- Tony Stiles, The Tony Stiles Show 
Article: " Constitution of the United States" Article 1, section 8". "The Congress shall have power to lay and collect taxes, duties, imposts and excises, to pay the debts and provide for the common defense and general welfare of the United States;"
Quote: "The progress of science in furnishing the Government with means of espionage is not likely to stop with wire-tapping. Ways may someday be developed by which the Government, without removing papers from secret drawers, can reproduce them in court, and by which it will be enabled to expose to a jury the most intimate occurrences of the home" - Dissenting opinion of Justice Louis D. Brandeis in Olmstead v. United States", 1928.
Hour Three: Should we allow the USPS to offer secure encrypted e-mail to the public?- Tim Cavanaugh, The Daily Caller
Book: Addicted To War by Joel Andreas.
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Thursday on The Thom Hartmann Program, 3-6pm ET
Hour Two: Will Washington, DC be renamed Reaganville?
Plus, Geeky Science - is sugar toxic to humans?
And, the best of the rest of the news and your calls right here on...
The Thom Hartmann Program...your media support group for "we the people"...
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Friday on The Thom Hartmann Program, 3-6pm ET
It's Friday and that means "Brunch With Bernie"...America's Senator...Senator Bernie Sanders (I-VT) will be here talking about all of the important issues of the week and he'll be taking your calls too...
Plus, it's Anything Goes Friday...what's on your mind this week?
And, the best of the rest of the news along with your calls right here on...
The Thom Hartmann Program, Occupying The Media 3 hours a day 5 days a week" for "we the people"
And remember...Democracy is NOT a spectator sport...it begins with you...
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Thom's Poll
Does Bradley Manning deserve the Nobel Peace Prize?
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Watch & Listen to Thom
Libertarian Capitalism Killed My Best Friend...
>NSA agents aren't the only ones stealing your data...
Lone Liberal - Isn't it time for a Smart Grid?
Lone Liberal - Shouldn't our government give BP the boot?
Should we have any expectation of privacy?
Or watch the Full "Big Picture" Show...
Full Show 8/14/13: Libertarian Capitalism Killed My Dad
Thom debates Libertarian Ryan Radia on the potential merger of U.S. Airways and American Airlines, and talks internet privacy with Cullen Hoback, Director of the new film "Terms and Conditions May Apply." Tonight's "Lone Liberal Rumble" panel discusses whether the Post Office should be allowed to offer an email service, BP's lawsuit against the federal government and how Arizona Republicans are already scheming up ways to rig the 2020 election. In tonight's "Daily Take" Thom discusses how Libertarian capitalism killed his best friend, Dad and co-worker.
Thom Hartmann on the News: August 14, 2013
Caller: Amnesty for Undocumented Workers Won't Help Economy
Caller: Smart Grid Construction would Include Union Labor
Caller: GOP Won't Support Smart Grid Because it would Create Jobs
Is it Time for America to Build a Smart Grid?
Should USPS be Allowed to offer Secure Encrypted e-mail to the Public?
Why USPS Should Offer Email
Libertarianism Capitalism Killed My Best Friend
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Thom and Louise Hartmann founded the New England Salem Children's Village (NESCV) in New Hampshire in 1979. With states delaying payment for the children they entrust to the village, they need help with cash flow. Can you help? Now on Facebook. |
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Hello All