the same old shi…nanigans— no, scratch that word. Let’s say legal legislative fraud upon the public.
General Electric is sending a small army of lobbyists to Washington this year because one of its most profitable tax loopholes (active financing) has just expired. Active financing allows GE to put off paying taxes while GE shifts profit from interest and dividends to offshore tax havens.
My comment: the taxes that GE does not pay (BUT SHOULD) do not go back to the public. However, they do end up in one form or another in the pockets of the corporacracy (CEO’s), and continue to widen the gap between those that have, and those that don’t. Meanwhile our legislators continue to disregard the obvious – this loophole should not exist in the first place. Now it has expired! So why revive it?
Well… because Senate minority leader Mitch McConnell has said that corporate tax loopholes should be renewed… without the cost (meaning lost revenue) being covered.
The tragedy is that this “legislative legal fraud upon the public” is rampant, while the public is ignorant because it is disguised as politics.
FRAUD…Excerpted in part from THE ENCYCLOPEDIA OF OBSERVATIONS.
Have you used deceit or trickery to gain unfair or dishonest advantage? Do you condone deception, cheating and duplicity?
Can fraud be more than just a tort (civil wrong for which a remedy may be obtained)?
What part does Misrepresenting of the truth or concealment of material fact play in your life?
What are the types of fraud: Actual? Constructive? Extrinsic (collateral to issues being considered)? Induced? Intrinsic? Promissory?
Can legislation involve fraud as a deception against the public (trust)?