The Republican tax code overhaul is set to become law. Although Congressional Republicans have largely ignored public backlash against the massive benefits provided to wealthy businesses and individuals, as well as other special interest groups, they may well be forced to act on criticism surrounding proposed provisions that benefit Congressional members, such as the provision that allows individuals with real estate holdings to use “pass through” businesses to capitalize on lower tax rates. Not only does the “Corker Kickback” scandal raise red flags and threaten the success of the Republican tax reform effort, it forces Americans to consider who, under what circumstances, should receive special treatment under the US tax code.
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Putin, Trump Declare Victory Over ISIS, Redefine the Syrian Civil War as a US-Russian Conflict12/15/2017 Russian President Vladimir Putin declared victory over the Islamic State, as well as others the Assad regime considers terrorists, during a surprise visit to a Russian military base in Syria on December 11th, 2017. Although Russian forces appear to be reducing their involvement in the Syrian Civil War, Russia does not have any plans to withdraw from Syria. More importantly, the Russian victory is incomplete as the nature of the Islamic State threat has simply been transformed into that of a guerrilla war while Assad has yet to reassert and solidify control over the bulk of the Syrian territory. The nature and objective of Russia’s intervention is, therefore, transforming.
Politicizing the Tax Code: Double Taxation Shows How Special Interests Have Poisoned Public Policy12/13/2017 Senate Republicans and House Republicans reached a compromise by lowering tax rates for higher earners, thus enabling the 2017 GOP Tax Plan to advance to a final round of voting. Although analysis by some organizations, such as the Treasury Department’s Office of Tax Policy, suggest the major tax overhaul will be a net benefit to the economy and the Federal budget, based on a rosy assumption for increased economic growth, others shows little benefit in terms of economic growth, increased Federal deficits, and higher tax burdens on middle to lower income taxpayers. All of the analyses are based on a number of debatable assumptions. Which analysis is more correct seems to depend more upon one’s political views than the actual validity of the argument and data used, which demonstrates exactly why public policies tend to be so flawed.
Bitcoins, as well as other cryptocurrencies, are literally a pretend asset. Mathematically-derived, these so-called virtual currencies are as real as the real-estate of video games. Because people are willing to buy them, however, they can be treated as a real asset. With the launch of the Bitcoin futures markets, regulators and investors have even given Bitcoins the legitimacy of any other tangible asset or financial derivative. Bitcoin derivatives are literally a virtual asset of a virtual asset. This situation and the broader trend of decoupling the economy from reality, of course, makes any number of economic scenarios possible. Reflecting on the Republican Tax Bill, some have suggested the ballooning US Debt truly does not matter, which might be true in a virtual economy.
Russia’s Alternative Internet And The Need to Guard the Cyberworld Against Government Seizure12/8/2017 The Russian government wants to build its own internet. It plans to create an alternative to the Domain Name System, or DNS, which is the directory that allows internet-enabled devices to find and connect to websites. The expressed goal is to help guard against a “global internet malfunction,” but the Russian Security Council has raised concerns about the capabilities of Western powers to conduct cyberespionage and cyberwarfare. Given Russia plans to built this “alternet” for the so-called BRICS nations, Brazil, Russia, India, China, and South Africa, it is likely part of a strategy to perpetuate the Cold War divide, which was reignited by the Ukraine Crisis, and position Russia as a major global power.
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