Some of the world’s biggest banks hinted they wanted to repay government money: JP Morgan, Goldman Sachs and Morgan Stanley were reported to have applied to refund up to $45bn of US government funds from the Troubled Asset Relief Program. I am crossing my fingers for them. Pay back as soon as possible so I can breathe normal as capitalist again.
Archive for the ‘Free Markets’ Category
Obama Flipping Coin on US Economy
Posted: 2009/05/06 in Economy, Offshore Banking, TaxesTags: corporate taxes, IRS, Obama, offshore haven, tax break, tax reform, US Chamber of Commerce
Some of the highlights of Obama’s proposed international tax reform policy include:
•Raising corporate taxes by $210 billion to those companies earning a profit overseas
•Extracting more information from foreign banks on the U.S. customers
•Adding 800 more employees for the IRS to strictly focus on international tax enforcement
The response to this proposal remains to be seen. It is estimated the proposal will face considerable opposition in Congress; there has already been strict opposition from about 200 companies including Microsoft, General Electric and the U.S. Chamber of Commerce.
Indian Sugar Industry Dilemma
Posted: 2009/04/20 in Economy, Free Markets, Free trade, GeopoliticsTags: sugar
One of our subsidiaries, MJS Commodities specializes in various cash commodities such as sugar. Our current Indian partners within the sugar and basmati rice categories have been struggling with too many fluctuating governmental regulations that the Indian leaders impose. It has been quite difficult to get any business done. Let me shed a little light [...]
