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…. “There are Trillions at Stake!” Overall, the New York Times is reporting a campaign support spending plan of more than $200 million. Essentially, these are payments from the billionaire Wall Street donors and multinationals, funneled through the SuperPAC, to influence the ’24 election. The context of the New York Times report sounds accurate. NYT – A key political group supporting Ron DeSantis’s presidential run is preparing a $100 million voter-outreach push so big it plans to knock on the door of every possible DeSantis voter at least four times in New Hampshire, Nevada and South Carolina — and five...

How is it that more than 190 governments from all over the world ended up dealing with the COVID-19 pandemic in almost exactly the same manner, with lockdowns, mask mandates, and vaccination cards now being commonplace everywhere? The answer may lie in the Young Global Leaders school, which was established and managed by Klaus Schwab of the World Economic Forum, and that many of today’s prominent political and business leaders passed through on their way to the top. The German economist, journalist, and author Ernst Wolff has revealed some facts about Schwab’s “Young Global Leaders” school that are relevant for...

President Trump is disrupting decades of multinational financial interests who use the U.S. as a host for their ideological endeavors. President Trump is confronting multinational corporations and the global constructs of economic systems that were put in place to the detriment of the host (USA) ie. YOU. There are trillions at stake; it is all about the economics; all else is chaff and countermeasures. We are already familiar how China, Mexico and ASEAN nations export our raw materials (ore, coking coal, rare earth minerals etc.). The raw materials are used to manufacture goods overseas, the cheap durable goods are then shipped back...

The pace of companies moving production out of China is accelerating as more than 50 multinationals from Apple to Nintendo to Dell are rushing to escape the punitive tariffs placed by the U.S., according to the Nikkei Asian review. The trade war between the U.S. and China has dragged on for more than a year with 25% tariffs placed on $200 billion of Chinese goods. President Donald Trump is still threatening to slap duties on another $325 billion of goods. In wake of the intensifying battle, more and more companies announced plans or are considering shifting manufacturing from China. American...

Seven multinational companies launched a Partnership for LGBTI Equality on Tuesday at the World Economic Forum in Davos, Switzerland. For the first time, the high-profile club of global political and economic leaders welcomed a special session for “LGBTI rights,” which world businesses want to promote and implement according to United Nations LGBTI Standards of Conduct, with the backing of the WEF and the office of the United Nations High Commissioner for Human Rights. The new initiative is led by Accenture, Deutsche Bank, EY, MasterCard, Microsoft, Omnicom, and Salesforce. They aim to enlist at least 100 more companies from WEF members...

In a setback for government efforts to abolish low tax rates for thousands of multinational firms while encouraging them to stay, the Swiss voted overwhelmingly against an overhaul the country's corporate tax system. Swiss broadcaster SRF said voters rejected the tax plans by about 60% to 40%. As Reuters notes, Switzerland has been in the European Union's firing line for years because Swiss cantons have a special tax status for foreign companies that means some pay virtually no tax other than an effective federal tax of 7.8%, an incentive to incorporate and stay on Swiss soil. In 2014, the...

In the tweet heard round the world, Donald Trump threatened to slap a 35% tariff on companies that shift jobs overseas, then ship their goods back to the U.S. Since his election, the focus has been on the carrots Trump will offer to grow and protect America's manufacturing base: corporate tax cuts and possibly a side order of state tax incentives. That's the menu that will keep open a Carrier plant in Indiana... But now Trump is signaling a more combative approach... ...There will be a tax on our soon to be strong border of 35% for these companies," Trump...

AT LEAST six of Britain's 10 biggest multinationals -- including Shell, British American Tobacco (BAT) and Lloyds Banking Group -- paid no UK corporation tax in 2014 despite combined global profits of more than £30bn. The disclosure comes as the Tories are embroiled in a row over a deal with Google that allowed it to pay just £130m in corporation tax since 2005. The other companies that paid no UK corporation tax in 2014 were Lloyds, brewer SABMiller and drugs company AstraZeneca. BP and drugs company Glaxo Smith Kline (GSK) declined to reveal how much UK corporation tax they paid,...

Thanks to our Change.org petition (307,000-plus signatures and rising), millions of Americans have learned that the U.S. Department of Agriculture (USDA) is about to allow U.S chickens to be sent to China for processing and then shipped back to the U.S. for human consumption. This arrangement is particularly alarming given China’s appalling food safety record and the fact that there will be no on-site USDA inspectors in those plants. In addition, American consumers will never know that chicken processed in China is in foods like chicken soup or chicken nuggets because there’s no requirement to label it as such. One...

President Barack Obama proposed raising about $100 billion in revenue over the next decade through new taxes and restrictions on U.S. multinational companies. The changes, included in his budget plan for fiscal 2015, would affect digital goods, deductions for "excessive" interest and so-called hybrid arrangements that can lead to income that isn't taxed in any country, according to the budget. Obama also wants to make it tougher for U.S.-based companies to move to other countries.

Tax avoidance loopholes for EU-based multinationals introduced by the World Bank and the International Monetary Fund (IMF) are said to be costing African countries double the amount they receive in foreign aid. “It is killing us; you cannot now explain poverty in Africa without this and this is the story that has been suppressed for so long,” Zitto Kabwe, an MP who is also chairman of the public accounts committee in Tanzania, told this website on Wednesday (30 October). He said Tanzania was forced in the late 1990s by the World Bank and the IMF to sign tax rules and...

Large multinationals, many of them based in the United States, are masters at avoiding taxes on profits made abroad. Apple, for example, paid just $100 million in taxes in 2010 on overseas profits of $13 billion. But Germany would like to put a stop to the practice, and is finding some influential support. … The operations corporations launch to optimize their tax bill go by various names, including "Double Irish" and "Dutch Sandwich," but the principle is always the same. In a confusing network of parent companies and subsidiaries, foreign branches and holding companies, sales, earnings and costs are shifted...

Prime Minister Vladimir Putin on Monday criticized U.S. President Barack Obama's plan to raise taxes on U.S. companies' foreign operations, saying it would amount to double taxation that will hurt the global economy. "This is a serious decision for the world economy," Putin said at a meeting of the Presidium, the government said on its web site. "If taxes are imposed on all companies working abroad, then it will mean the total destruction of the system for avoiding double taxation." Putin instructed Finance Minister Alexei Kudrin to hold discussions on the plan with Obama's administration. Kudrin met with finance ministers...

The Justice Department is increasing its prosecutions of alleged acts of foreign bribery by U.S. corporations, forcing them to take costly steps to defend against scrutiny. The crackdown under the Foreign Corrupt Practices Act, or FCPA -- a post-Watergate law largely dormant for decades -- now extends across five continents and penetrates entire industries, including energy and medical devices. Among the companies currently under Justice Department review: Sun Microsystems Inc. and Royal Dutch Shell PLC, according to the companies' disclosures. At least 120 companies are under investigation, according to Mark Mendelsohn, a deputy chief in the Justice Department division overseeing...

Listen to President Obama, and the status quo seems a cesspool. Pervasive "loopholes" engineered by "well-connected lobbyists" allow U.S. multinationals to skirt American taxes and outsource jobs to low-tax countries. Myth: Aided by those overpaid lobbyists, American multinationals are taxed lightly -- less so than their foreign counterparts. Reality: Just the opposite. Most countries don't tax the foreign profits of their multinational firms at all. Myth: When U.S. multinationals invest abroad, they destroy American jobs. Reality: Not so. Myth: Plugging overseas corporate tax loopholes will dramatically improve the budget outlook as multinationals pay their "fair" share. Reality: Dream on.

In the name of tax reform, Pres. Barack Obama has announced $190 billion of tax hikes on many of the biggest U.S. employers. By reducing after-tax profits, these tax hikes could hammer stock prices that reflect investor expectations of future profits. Among the employers in Obama’s crosshairs: Aetna, Alcoa, Allstate, American Express, Berkshire Hathaway, Best Buy, Cisco Systems, Coca-Cola, Costco Wholesale, Dell, Dow Chemical, DuPont, Exxon Mobil, Ford, General Motors, GMAC, Hewlett-Packard, Honeywell, IBM, Intel, Johnson & Johnson, Kraft Foods, Kroger, McDonald’s, Merck, Microsoft, Motorola, News Corp., PepsiCo, Pfizer, Proctor & Gamble, Safeway, Sears, Sprint Nextel, Supervalu, Sysco, Target, Time...

President Obama revealed Monday that he's half a supply-sider. If only someone could explain to him the other half. We have a tax code, the President said, "that says you should pay lower taxes if you create a job in Bangalore, India, than if you create one in Buffalo, New York." That sounds like a great argument for lowering taxes on the guy creating jobs in Buffalo. Alas, that's not what he has in mind.

Obama to roll out international tax proposals Sun May 3, 2009 7:01pm EDT Email | Print | Share | Reprints | Single Page [-] Text [+] WASHINGTON (Reuters) - President Barack Obama plans to roll out a set of proposals on international tax policies on Monday, in an announcement with potential implications for U.S. multinational firms. The White House said Obama will be joined by Treasury Secretary Timothy Geithner for the 11:05 a.m. EDT (1505 GMT) event. Obama's budget outline released in February made reference to proposals to change the tax treatment of U.S. firms with overseas operations and measures...

There he goes again, bashing Bangalore. Not for the first time, US President Barack Obama invoked India’s much-celebrated economic hotspot, which has become an all-encompassing metaphor to describe everything from job loss to globalization, to rally Americans for a protectionist cause. At a White House event on Monday to unveil tax reforms aimed at forcing American multinationals to pay corporate taxes -- and keep jobs -- at home, Obama lashed out at the current US system, saying it encouraged paying ''lower taxes if you create a job in Bangalore, India, than if you create one in Buffalo, New York.'' The...

President Barack Obama promised sternly on Monday to crack down on companies ''that ship jobs overseas'' and duck U.S. taxes with offshore havens. It won't be easy. Democrats have been fighting -- and losing -- this battle since John F. Kennedy made a similar proposal in 1961. Obama's proposal to close tax loopholes was a reliable applause line during the presidential campaign, but it got a lukewarm response Monday from Capitol Hill. Sen. Max Baucus of Montana, the Democratic chairman of the Senate Finance Committee, said the plan needed further study, even though similar ideas have been around for years....