Author Archives: Tim

This of course is the infamous Japanese American internment provision that has not been used since the 1940s and which Chuck Schumer attempted to get repealed as part of “comprehensive” immigration reform.

http://www.cadc.uscourts.gov/internet/opinions.nsf/DB41AEB1927849CF85257D2E004E3FC8/$file/12-5200-1506785.pdf

http://www.sacbee.com/2014/08/08/6615081/appeals-court-allows-inmate-to.html

“For reasons we do not understand, Aaron Schnitzler, a South Dakota state prisoner, wants to renounce his United States citizenship,” Garland wrote. “For reasons the government has failed to explain — or rather, for a host of ever-changing reasons — it has made it impossible for him to do so.”

Schnitzler is nearing the end of a 15-year sentence for sexual conduct with a child under the age of 16. Starting in about 2010, he embarked on what Garland termed a “merry-go-round” of entreaties to a variety of federal agencies, in search of his citizenship renunciation. Frustrated, he sued.

Among other arguments, the government said an in-person interview is required to request renunciation. But, since Schnitzler is incarcerated, such an interview was impossible. He’d have to wait until he was released. Not good enough, Schnitzler says.

“’I want to renounce citizenship while in prison right now!’ he said,” Garland recounted.

And I heard all Europeans loved Obama. The shipyard workers are worried though that their own president is spineless.

http://news.nationalpost.com/2014/07/22/david-camerons-anger-at-frances-refusal-to-halt-warships-sale-to-russia-called-a-debate-led-by-hypocrites/

The owner of Le Ralliement, a café patronized by shipyard workers a few hundred metres from where the Vladivostok is docked, bristled with anger at Mr. Cameron and Barack Obama, the U.S. president.

“Obama should get off our case and concentrate on solving America’s problems,” said the burly 62-year-old, who declined to be named.

Thumping his hands on the bar for emphasis, he added, “As for Cameron, he should stop being the voice of his master and obediently repeating everything Obama says. If he wants to be heard in Europe, he should act as if he’s part of it.”

He stroked his moustache before going on, “The British should have been kicked out of the European Union when they chose not to take the euro like everyone else. And that soft president of ours hasn’t got the guts to stand up to anyone.”

Asked if it was morally justifiable to sell sophisticated warships to Russia after the downing of Flight MH17 by a missile which Washington says was fired from an area in eastern Ukraine held by pro-Moscow rebels, the café owner replied, “If we don’t sell ships to them, someone else will.”

Around the port, used by the Nazis as a submarine base in the Second World War, many shared his opinion, even if they expressed it less vehemently.

Stephane Gohaud, a 46-year-old taxi driver, described the MH17 disaster as “horrifying and tragic”, but added, “[The plane] should never have flown over a war zone. I don’t believe the Russians wanted it to be shot. It was a horrible mistake.”

http://www.thestar.com/business/2014/07/18/why_canadas_banks_will_feel_the_urge_to_merge_olive.html

http://www.burlingtonfreepress.com/story/news/politics/2014/07/18/sanders-bill-targets-corporate-deserters/12847561/

At the ACA event in Toronto someone asked whether the State of Vermont and its residents were somehow more “pro Canada” than the rest of the United States. I just laughed. Hell no.

Perhaps though Senator Sanders(and former Mayor of Burlington, VT) might enjoy if the one and only natural gas pipeline that services Vermont(running from Montreal to Burlington, VT) were to be “shut off” on the Canadian side on the coldest day of next winter.  Senator Sanders might start discovering some new definitions of patriotism.

Not quite exactly but pretty close.

Reluctantly, Patriot Flees Homeland for Greener Tax Pastures

Heather Bresch grew up around politics. Her father is Joe Manchin, the Democratic senator from West Virginia and a former governor. She has heard him say repeatedly, “We live in the greatest country on Earth,” as he did in countless political advertisements. And it appeared to rub off on her: Ms. Bresch was named a “Patriot of the Year” in 2011 by Esquire magazine for helping to push through the F.D.A. Safety Innovation Act.

But on Monday, Ms. Bresch announced plans to renounce her company’s United States citizenship and instead become a company incorporated in the Netherlands, where the tax rates are lower. She did so by agreeing to acquire Abbott Laboratories’ European generic drug business.

http://fortune.com/2014/07/07/taxes-offshore-dodge/

This guy sure is a piece of work. Big time financial reporter at Fortune Magazine.

Inverters don’t hesitate to take advantage of the great things that make America America: our deep financial markets, our democracy and rule of law, our military might, our intellectual and physical infrastructure, our national research programs, all the terrific places our country offers for employees and their families to live. But inverters do hesitate–totally–when it’s time to ante up their fair share of financial support of our system.

Inverting a company, which is done in the name of “shareholder value”–a euphemism for a higher stock price–is way more offensive to me than even the most disgusting (albeit not illegal) tax games that companies like Apple AAPL -0.64%  and GE GE -1.42% play to siphon earnings out of the U.S. At least those companies remain American. It may be for technical reasons that I won’t bore you with–but I don’t care. What matters is the result. Apple and GE remain American. Inverters are deserters.

Even though I understand inversion intellectually, I have trouble dealing with it emotionally. Maybe it’s because of my background: I’m the grandson of immigrants, and I’m profoundly grateful that this country took my family in. Watching companies walk out just to cut their taxes turns my stomach.

Defending wealthy tax cheats is all the rage these days

http://fortune.com/2014/06/25/foreign-tax-evasion-law/

The biggest chunk of money is projected to come from a provision that would force people who inherit IRAs and other retirement plans to take required taxable distributions over five years. Under current law, they take those payments over a longer period that is linked to their life expectancy. The change is expected to generate $3.7 billion in revenue over 10 years.

Instead of – or along with, outrage – let me propose another reaction for French companies: Compliance. Specifically, I propose that French business leaders equip their companies to succeed in the international economy.  French companies involved in cross-border transactions know, and have now seen, that they will have to play by rules set by parties outside of l’Hexagone. The U.S. sanctions regime, overreaching or not, is a reality. Sophisticated sanctions such as prohibiting U.S. Dollar clearing on sanctioned country transfers, are a reality. French companies, like all others reaching into the global marketplace, can greatly benefit by understanding and preparing for such foreign regulations. By looking outward, understanding the terrain, and planning to navigate within the applicable legal framework, companies can continue to grow and prosper without risking violations – particularly violations that are so enormously costly to company and country

Expect to hear a lot of criticism of Rand Paul. Mr. Stack is speaking once again.

http://www.foreign.senate.gov/hearings/treaties-06-19-14

http://www.foreign.senate.gov/hearings/watch?hearingid=754236b6-5056-a032-5290-2ff36c720941 Starts at about 18:40.