Progressively Hostile GE Thwarts Common Sense Energy Needs of Consumers

American

2009-04-25 04:20:10 UTC

We get no more *popular* independent prosperity than
U.S. nationalists can float off from the Federal Reserve, and
all of this without either implementing a new gold standard
or improving and/or expanding entrepreneural and
engineering tinkersmanship. And this is supposed to
represent an engineering renaissance? What a freaking joke..
I guess this answers the question of why there is yet no list
of AIG beneficiaries available to anyone suspected of being
in the "non-nationalist" category - THAT would impugn most
of us at the local and state level, as well as any entity of
local revolutionary energy technology doing business,
either earth-based or orbit-wise.
It would make any of our founding fathers terminally sick to
have to observe the mass sacrilege and anti-scientific micro-
management of legislative minutia becoming echoed and dis-
played by all of these Congressional whores of disobedience.
e.g. General Electric, in bed w/ administration over cap & trade
initiatives (supress American entrepreneurialism & expand trade
with foreign & potential enemy nations), board has a meeting
w/shareholders yesterday in Orlando, Fla., and turn the micro-
phone off when asked i.e. if they were giving Obama a
free pass w/endorsing green energy initiatives.
and the tea parties resulted in cutting the microphone off during
the question to the CEO, and no resulting news coverage of
the event, other than the superficial NBC advertising for GE.
(Cap-and-trade and a new energy future is the only thing that
matters to them).
The resultant 'greening of GE' will result in increased dividend
cuts for shareholders and increased manufacturing and energy
costs on the horizon for all companies doing business with GE.

Article by William R. Pomierski and Thomas D. Sykes
These initiatives offer welcome relief to non-filers who have been
considering voluntary disclosure, but have been reluctant to proceed.
McDermott's 2006 On The Subject entitled " Foreign Financial Account
Holders: Prepare to File" detailed the annual information reporting
requirements for individuals and entities with a financial interest in or
signatory or other authority over a foreign bank or financial account
(FBAR). The FBAR reporting requirements apply to any such foreign accounts
where the aggregate balance exceeds $10,000 at any time during the year. As
previously noted, the FBAR requirements are broad in their reach and the
penalties for non-compliance were significantly increased in 2004.
In an effort to encourage voluntary compliance by non-filers, the Internal
Revenue Service (IRS) adopted internal guidelines in July 2008 relating to
the potential imposition of penalties. More recently, on March 23, 2009, the
IRS announced a penalty initiative during the next six months for non-filers
who voluntarily disclose non-compliance. These developments offer welcome
relief to those non-filers who have been considering voluntary disclosure,
but have been reluctant to proceed.
Penalty Guidelines
For an FBAR violation occurring after October 22, 2004, the maximum civil
penalty for a willful violation is the greater of $100,000 or 50 percent of
the account balance at the time of the violation. Non-willful violations can
result in a penalty of as much as $10,000. Criminal violations can result in
additional fines and/or five years imprisonment.
Considering the fact that the statute authorizes the assessment of the
maximum penalty per violation-which could result in a separate penalty for
each foreign account for which an FBAR report was not filed and for each
year in which the failure to file occurred-the prior absence of any penalty
guidelines likely discouraged many non-filers from voluntary disclosure,
particularly for smaller accounts. To encourage non-filers to come forward,
the IRS adopted FBAR penalty guidelines in July 2008, authorizing IRS
examiners to exercise discretion in imposing reduced penalties for
non-compliance. Although these guidelines are not binding on the IRS, they
provide valuable insight into how the IRS is expected to proceed in many
cases.
The IRS's guidelines recognize that the purpose for imposing FBAR penalties
is to "serve as a tool to promote compliance." While there is no assurance,
this statement suggests that the IRS may not intend to assess penalties for
FBAR violations as a tool to raise revenues. With this compliance goal in
mind, the guidelines establish suggested reduced penalties if certain
threshold conditions are met. IRS examiners are also instructed to consider
whether, in appropriate cases, a penalty below that suggested by the
guidelines should be imposed, including the possibility that only a warning
letter should be issued. Most important, the guidelines state that "given
the magnitude of the maximum penalties permitted for each violation, the
assertion of multiple penalties and the assertion of separate penalties for
multiple violations with respect to a single FBAR form, should be considered
only in the most egregious cases."
Under the IRS's FBAR penalty guidelines, if the failure to have previously
filed the required reports is not "willful," and the threshold conditions
are met, the guidelines "suggest" penalties ranging from $5,000 to $15,000,
depending on the balance in the particular account. The threshold conditions
* The person does not have a history of past FBAR penalty assessments
(and, for violations occurring after October 22, 2004, the person does not
have a history of criminal tax or Bank Secrecy Act convictions).
* The money that passed through any of the foreign accounts associated
with the person was not from an illegal source nor used to further a
criminal purpose.
* The person cooperated during the examination (i.e., the IRS did not
have to resort to a summons to obtain non-privileged information; the
taxpayer responded to reasonable requests for documents, meetings and
interviews; or the taxpayer back-filed correct reports).
* The IRS did not sustain a civil fraud penalty against the person for
an underpayment of taxes for the year in question due to the failure to
report income related to any amount in a foreign account.
If a "willful" non-filer meets these conditions, the guidelines suggest
penalties ranging from 5 percent to 50 percent of the maximum balance in the
particular account for the year in question.
On March 23, 2009, the IRS took another step designed to encourage voluntary
disclosure by announcing a penalty initiative that is available during the
next six months. Under this initiative, non-filers who make voluntary
disclosures, and who make all delinquent filings (FBAR and other information
returns), pay back-taxes and interest for six years, and pay an accuracy or
delinquency penalty for all six years, will be eligible for a one-time
penalty of 20 percent of the highest asset value in any unreported account
at any time during the six-year period (as opposed to a penalty for each
year in which an FBAR report was not filed). This penalty is reduced to 5
percent if the taxpayer did not open the account, there was no account
activity while the taxpayer controlled the account, and all taxes on the
account have been paid. This initiative expires on September 23, 2009.
These penalty initiatives are clearly designed to encourage voluntary
disclosure by persons who have previously failed to comply with the FBAR
reporting requirements by offering a measure of predictability as to the
likelihood and amount of penalties. Any individual or entity that may have
failed to comply with the FBAR reporting rules in the past, whether
inadvertently or purposely, should seriously consider taking advantage of
these penalty initiatives. However, before any such disclosure is made, all
of the relevant facts relating to the non-compliance must be evaluated to
determine the likely level of penalties that may be asserted under the IRS's
suggested guidelines, and/or the availability of the IRS's six-month penalty
initiative. A non-filer should proceed with a voluntary disclosure only
after a thorough evaluation of all the facts and circumstances surrounding
the foreign account, and a careful consideration of the alternative
corrective measures that may be available under the particular
circumstances.- Hide quoted text -
- Show quoted text -

So while all of these financial accounting practices, Foreign
Financial
Account Holders Prepere to File legislation, Foreign Bank or
Financial
Account (FBAR) statutes, IRS adopted guidelines, penalty initiatives
for
non-filers, non-willing violators, guidelines, maximum penalty for
violation,
additional fines, terms of imprisonment, statute assessments,
promotion
tools to raise revenues, warning letters, multiple violation
considerations,
delinquencies, eligibilities, reporting requirements, unreported
accounts,
evaluations, circumstances, facts, voluntary disclosures,
availabilities,
rules reports, expirations, pay-back taxes, interests, maximum
balance
percentage ranges, and foreign account details are being quantified,

What tools are/were available from our Constitution that supports our
national economy in propogating the glut of legal morass in
substituting
the kind of confiscatory golden calf tax structure that would result
in the financial indebtedness of its citizens by either the
Federal Reserve and/or foreign governments?

Since when do governments take it upon themselves, without the
least bit of engineering tinkersmanship representation at the local
and/or state level, the mission of saving the rest of the world's
infrastructure, at the total expense of the sovereignity of its
citizens,
and in assuming that its own credit is based upon its ability to
create
infrastructure ad intinitum, so that its own feet become hardened
in its own concrete, steel, and power structures? Are these not
substitutes for golden calves of the NWO?

The kinds of minutia propogated by not only this administration,
but all the corporate greek statues who think they can do themselves
a favor with OUR Constitution by creating through illegal legislation,
new taxing authorities, are only quibbling with alphabet soup when
it comes to the most long standing doctrine. The political words
that our founding fathers entrusted us with are based not upon the
words of men, but consist of the Seven Woes to the Scribes and
Pharisees: in Matthew they represent the selfish ambition and pride
of political parties of governments all over the world:

"Woe to you, teachers of the law and Pharisees, you hypocrites!
You shut the kingdom of heaven in men's faces. You yourselves
do not enter, nor will you let those enter who are trying to.

"Woe to you, teachers of the law and Pharisees, you
hypocrites! You travel over land and sea to win a single
convert, and when he becomes one, you make him twice as much
a son of hell as you are.

"Woe to you, blind guides! You say, 'If anyone swears by the
temple, it means nothing; but if anyone swears by the gold of
the temple, he is bound by his oath.' You blind fools! Which
is greater: the gold, or the temple that makes the gold sacred?
You also say, 'If anyone swears by the altar, it means nothing;
but if anyone swears by the gift on it, he is bound by his
oath.' You blind men! Which is greater: the gift, or the altar
that makes the gift sacred? Therefore, he who swears by the
altar swears by it and by everything on it. And he who swears
by the temple swears by it and by the one who dwells in it.
And he who swears by heaven swears by God's throne and by the
one who sits on it.

"Woe to you, teachers of the law and Pharisees, you
hypocrites! You give a tenth of your spices - mint, dill and
cummin - But you have neglected the more important matters of
the law - justice, mercy and faithfulness. You should have
practiced the latter, without neglecting the former. You blind
guides! You strain out a gnat but swallow a camel.

"Woe to you, teachers of the law and Pharisees, you hypocrites!
You clean the outside of the cup and dish, but inside they are
full of greed and self-indulgence. Blind Pharisee! First
clean the inside of the cup and dish, and then the outside also
will be clean.

"Woe to you, teachers of the law and Pharisees, you hypocrites!
You are like whitewashed tombs, which look beautiful on the
outside but on the inside are full of dead men's bones and
everything unclean. In the same way, on the outside you appear
to people as righteous but on the inside you are full of
hypocrisy and wickedness.

"Woe to you, teachers of the law and Pharisees, you hypocrites!
You build tombs for the prophets and decorate the graves of the
righteous. And you say, 'If we had lived in the days of our
forefathers, we would not have taken part with them in shedding
the blood of the prophets.' So you testify against yourselves
that you are the descendants of those who murdered the prophets.
Fill up, then, the measure of the sin of your forefathers!

***

While credit card defaults will go through the roof, even with the
confiscatory rates that the credit companies are charging, the U.S.
is looking at 1/6 credit card holders defaulting already - credit
card
companies will close down - all while the most porkulus is yet to
happen with GE in bed with the Obama Administration, when the real
needs of this nation are at home - 2/3 of this nation depends upon
consumer spending - GE needs not to go "green" - it needs to halt
its juggernaut of antiquated energy technology and free up the more
productive aspects of cheaper, energy replacement technology,
rather than inhibiting this nation's ability to produce.

Instead, by defaulting to transnationalism, GE helps to deconstruct
entrepreneurialism at home, and increases tax liability on those who
would also otherwise be creating new energy technologies, and
while continuing to increase debt to the federal reserve,
transnationalist[1] growth abroad becomes the opposite of
intellectual capital in our own country, and opposes
THE COMMON SENSE of building a spiritual house on rock -
not sand.

Is it really no wonder that commercial real estate walk-away rates
are eventually going through the roof - because the nation as a whole
has refrained from the right kinds of energy and revolutionary
technology PRODUCTION when it has already CONSUMED itself
to death with systems of FIAT CREDIT???

American

"When, in countries that are called civilized, we see age going
to the workhouse, and youth to the gallows, something must
be wrong in the system of government."

- Thomas Paine, The Rights of Man, pt. 2, 1792

[1]

However, many of the U.S. transnationalist companies are moving
their base of operations to Switzerland because of the Obama
penalty & confiscatory tax rates.