Greed, taxes and a lack of empathy

It’s tax time in Travis county and Austin, that means it’s the annual hand wringing and whining because the property values are up again, by huge amounts. Taxes are all relative. The total of tax paid is still stunningly low compared to the quality of life and services you get for that. Yes, property taxes are high, but sales tax is relatively low, there is no state income tax, and while the Ledge and Republicans have you convinced that Federal Taxes are high, and money being wasted on drug taking, idle, work shy, “minorities”, it doesn’t matter that that is … Continue reading Greed, taxes and a lack of empathy

insidious greed – HSBC

If you’ve not been following along today, it’s well worth reading back through the BBC Business Live News feed on the HSBC Tax Avoidance scandal. It is indeed the perfect example of the sort of insidious greed that is destroying society today. It’s not just the “me” culture that is all around us, but the industry and culture that is behind it. Rather than pay taxes now, there is a whole industry on tax-avoidance. It’s become an accepted practice, mostly illegal, certainly immoral and to deflect interest in their actions, just like with the bully at school, they deflect criticism … Continue reading insidious greed – HSBC

Wonky property taxes

The new Austin 10/1 council is pretty much settled after the run-offs. The new districts will be represented by 9 new Council members, two of whom are Realtors, a new Mayor with zero Council experience, all voted in by an appallingly low voter turnout especially in the runoff elections. In District-3,  Sabino “Pio” Renteria won with just 2,555 votes, a victory by 833 votes… I assume a mere $10,000 could have bought victory for  his opponent by paying locals $10 to go vote. I bet that TV and newspaper advertising looks lame now. One of the flagship, priority subjects will no doubt … Continue reading Wonky property taxes

Happy 4th to all my US Readers…

Happy 4th of July. This was my token yearly protest at 6:30am this morning, throwing a tea bag into Lake Austin from the Congress (bat) bridge. No taxation without representation! The reality is I pay little tax in Texas, not counting what the State takes from the federal government. However, I for one would be willing to pay state income tax if it helped fix the deep inequalities in the property tax, which have arisen from people like me moving to Austin, and driving huge increases in property taxes. The state of Travis county property taxes is in itself deeply … Continue reading Happy 4th to all my US Readers…

The Great American Ripoff: The High Cost of Low Taxes

Americans pay almost four times as much as the citizens of other wealthy countries for things such as retirement security and health care on the private market – 10.6 percent of our economic output versus an average of just 2.7 percent among OECD member states. via The Great American Ripoff: The High Cost of Low Taxes | Connecting the Dots, What Matters Today | BillMoyers.com. Bill Moyers website has a great perspective on the whole state vs private industry, tax vs pay debate. It shows that Americans for the most part want what the government provides, well-maintained infrastructure, safe food … Continue reading The Great American Ripoff: The High Cost of Low Taxes

How Turbo tax is keeping taxes complicated

As we head towards US Tax season and the whole circus that surrounds it, I am as always bewildered how complex and how much effort has to go into filing your annual personal taxes, so much so, I’m behind and won’t be ready again. Worse still, for Tax Year 2012, I have my personal taxes and 2x businesses taxes to file. Like so many things, Americans make, and thus assume taxes have to be complex. Businesses make marketing campaigns out of tax refund checks, you can get everything from interest free payments “until you get your refund”, to payday loan … Continue reading How Turbo tax is keeping taxes complicated

When heros were not zeros

So the election is over, I’m still struggling with the reality of what candidate Romney said he’d do and what President Romney would have had to do. A couple of recent things illustrate my confusion. Much of what the republicans were doing was looking back, back to a time when America was a producer, not just a consumer. Sure things are made here now, but so much of what we consume isn’t. Here in Austin, at yesterdays City Council meeting, a big deal was made out of the package of incentives given to Visa to set-up office in Austin. Visa … Continue reading When heros were not zeros

to Tax or Not to Tax…. debt is the question

Sat watching the BBC News tonight, my heart rate raced a few beats higher as I watch the Chief Accountants from Apple, Google and Starbucks in the UK defend their accounting process which has meant they’ve largely avoided paying UK Corporation tax, and particularly the hapless public policy wonk from Amazon.com, Andrew Cecil. I’m glad I’m not working at Google in the UK, who at least as far as their management seemed to be concerned, don’t “innovate” in the UK. oops. Interestingly I used to work with Nelson Mattos at IBM, I wonder what he thinks now? Starbucks came in … Continue reading to Tax or Not to Tax…. debt is the question

TED and Job Creators

Over the past couple of years I’ve watched a few TED videos, they are often educational, always informative and sometimes even entertaining as well. This one showed up in a Yahoo most watched/recommended list on a sidebar on a web search… I’d never heard of Nick Hanauer, but wikipedia and google search have, and he is is an American entrepreneur and venture capitalist and author of the book, The True Patriot. Nick adds a great link to the chain in so much as I’m able to explain why the current argument over tax in the US positions the 1% incorrectly, but it … Continue reading TED and Job Creators

Fiscal fairness, take the money and run

Early this month I posted this entry on “fiscal fairness” about paying taxes. This week two items have come up that show why the tax avoidance situation has become unsustainable here in the US and in the UK. First up in the US in the story that Facebook founding backer Eduardo Saverin’s renunciation of his U.S. citizenship. It really doesn’t matter what he says, Eduardo benefit from the system in place here in the US, and now he is about to get billions of US$ from the Facebook IPO, On advice of counsel, he’s established residency in Singapore, where there is no capital-gains tax. … Continue reading Fiscal fairness, take the money and run