…and, by extension, the goal of this administration’s Europe-wannabe tax schema.
Matthew Karnitschnig and Robin van Daalen, in The Wall Street Journal, interviewed the newly retired Marius Kohl, who was for 22 years the Attendant—head—of Luxembourg’s Sociétés 6, or Companies 6, the Luxembourg government agency that, among other things, determines the annual tax owed by each of roughly 50,000 Luxembourg-registered holding companies.
It’s a wide-ranging interview and well worth the read, but I want to focus on one small bit of it.
I’m going to poke my nose into European affairs, again.
The backdrop is the French budget crisis. The backdrop to that is this. In one of the EU’s responses to their part in the global economic crisis of 2008-2009, the EU passed the Stability and Growth Pact, which authorized the European Commission, the executive body of the European Union (though the Commission has its own president, the body acts like a President-by-Committee) to require EU member nations to submit their national budgets to Commission approval. If the Commission disapproved the budget and the nation in question refused to make Commission-directed corrections, the Commission could levy very serious fines on that nation.
I’ve written elsewhere about converting Medicaid subsidy transfers to the states to block grants on a declining schedule that eliminates the Medicaid subsidy altogether over a 10 year period.
In an era of excessive Federal government spending, ongoing Federal budget deficits as the normal state of affairs, and the resulting burgeoning Federal debt, it’s time to look at converting all Federal transfers to the states on a declining schedule that eliminates the subsidies altogether over a 10 year period.
It’s time to restore the Federalism to the Federalism concept of our Constitution.
…of a concept that’s lost on one of the main groups of central planners of the world, those of Russia.
This one comes from an article in Pravda, which plays a role for the Russian government similar to that of The New York Times for the Democratic Party’s administrations. Interestingly, in addition to being missed by the Pravda author, it’s also missed by Tom Friedman, who cited the article in his NYTarticle.
German factory orders fell 5.7% in August, real GDP is stagnant or falling in many European countries, Standard & Poor’s has downgraded France to AA from AA+….
[T]he 18 euro area countries had zero real growth in the volume of production during the second quarter of 2014. Euro area real GDP grew only 0.5% in 2013 after falling 1% in 2012. In other words, output was lower in mid-2014 than it was at the end of 2011.
In the case of some Democrats, like President Barack Obama, it looks like us taxpayers pay a significant fraction of the costs. As Mark Knoller of CBS Newsnoted the other day,
Under Federal Election Commission (FEC) rules, the government must be reimbursed for parts of presidential political travel.
“When a trip is for political or unofficial purposes, those involved must pay for their own food and lodging and other related expenses, and they must also reimburse the government with the equivalent of the airfare that they would have paid had they used a commercial airline,” states the Congressional Research Service in a 2012 analysis of “Presidential Travel: Policy and Costs.”
California’s health insurance exchange has awarded $184 million in contracts without the competitive bidding and oversight that is standard practice across state government, including deals that sent millions of dollars to a firm whose employees have long-standing ties to the agency’s executive director.
Several of those contracts worth a total of $4.2 million went to a consulting firm, The Tori Group, whose founder has strong professional ties to agency Executive Director Peter Lee, while others were awarded to a subsidiary of a health care company he once headed.
Mark Helprin had some thoughts a couple years ago about this administration’s Naval policy; they’re worth revisiting these days in light of the People’s Republic of China’s ongoing grab for and occupation of the South and East China Seas, and especially against the backdrop of the PRC’s decision to deny the people of Hong Kong their right to choose their own government members, in particular their Chief Executive, in violation of the Sino-British Joint Declaration. In the latter’s case, the PRC will tell the Hong Kong citizens who will be on the ballot and so for whom they’ll be permitted to “vote.”
A federal judge has dismissed a lawsuit challenging a California law that requires all eggs sold in the Golden State to come from hens housed in roomier cages.
State Attorneys General from Missouri, Iowa, Nebraska, Kentucky, Oklahoma, and Alabama had sued to block implementation of the law on the grounds that it unconstitutionally interfered with interstate commerce under the Commerce Clause.
They said farmers would have to spend hundreds of millions of dollars overhauling farms to ensure they would have access to the California market….
US District Judge Kimberly Mueller of the Eastern District of California disagreed.