Formulas to Increase your Vemma Income and End the Struggling.

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Build An Income With Online Shops - Covert Store Builder

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The Company That Ran The ‘Cruise From Hell’ Pays Almost No Income Tax

Carnival’s “cruise from hell” — during which the ship lost power off the Yucatan peninsula and was stuck for days, leaving passengers no recourse to relieving themselves in plastic bags — finally ended last night as the crippled boat was tugged into port. “It was horrible. Horrible,” one passenger said. “The bathroom facilities were horrible and we could not flush toilets. No electricity and our rooms were in total darkness.”

Carnival will be refunding money to the passengers of the ill-fated cruise and offering them a free trip in the future. (“This is my first and last cruise. So if anyone wants my free cruise, look me up,” one passenger said.) But one entity to which Carnival has not been giving any money is the national treasury — as the New York Times’ David Leonhardt reported, the company has paid just a 1.1 percent rate on 11.3 billion in profits over the last five years:

The Carnival Corporation wouldn’t have much of a business without help from various branches of the government. The United States Coast Guard keeps the seas safe for Carnival’s cruise ships. Customs officers make it possible for Carnival cruises to travel to other countries. State and local governments have built roads and bridges leading up to the ports where Carnival’s ships dock.

But Carnival’s biggest government benefit of all may be the price it pays for many of those services. Over the last five years, the company has paid total corporate taxes — federal, state, local and foreign — equal to only 1.1 percent of its cumulative $11.3 billion in profits. Thanks to an obscure loophole in the tax code, Carnival can legally avoid most taxes.

Carnival uses a tax loophole that allows companies incorporated overseas to avoid U.S. taxes, even if the bulk of their operations are based in the states. Between 2008 and 2011, 26 major corporations in the U.S. managed to pay no income tax, despite making $205 billion in pre-tax profits. (HT: Teamster Nation)

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World Economic Forum: Income Inequality Is A Major Global Risk

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Weekly Address: Congress Must Protect the Middle Class from Income Tax Hike

The White House

Office of the Press Secretary

Hello Everybody. For the past couple months, I’ve been working with people in both parties – with the help of business leaders and ordinary Americans – to come together around a plan to grow the economy and shrink our deficits.

It’s a balanced plan – one that would protect the middle class, cut spending in a responsible way, and ask the wealthiest Americans to pay a little more.  And I’ll keep working with anybody who’s serious about getting a comprehensive plan like this done – because it’s the right thing to do for our economic growth.

But we’re now at the point where, in just a couple days, the law says that every American’s tax rates are going up. Every American’s paycheck will get a lot smaller. And that would be the wrong thing to do for our economy. It would hurt middle-class families, and it would hurt the businesses that depend on your spending. 

And Congress can prevent it from happening, if they act now. Leaders in Congress are working on a way to prevent this tax hike on the middle class, and I believe we may be able to reach an agreement that can pass both houses in time.

But if an agreement isn’t reached in time, then I’ll urge the Senate to hold an up-or-down vote on a basic package that protects the middle class from an income tax hike, extends vital unemployment insurance for Americans looking for a job, and lays the groundwork for future progress on more economic growth and deficit reduction. 

I believe such a proposal could pass both houses with bipartisan majorities – as long as these leaders allow it to come to a vote. If they still want to vote no, and let this tax hike hit the middle class, that’s their prerogative – but they should let everyone vote. That’s the way this is supposed to work. 

We just can’t afford a politically self-inflicted wound to our economy. The economy is growing, but keeping it that way means that the folks you sent to Washington have to do their jobs. The housing market is healing, but that could stall if folks are seeing smaller paychecks.  The unemployment rate is the lowest it’s been since 2008, but already, families and businesses are starting to hold back because of the dysfunction they see in Washington. 

You meet your deadlines and your responsibilities every day. The folks you sent here to serve should do the same. We cannot let Washington politics get in the way of America’s progress. We’ve got to do what it takes to protect the middle class, grow this economy, and move our country forward.

Thanks, everybody.

President Obama urges Congress to meet its deadlines and responsibilities, protect the middle class from an income tax hike, and lay the groundwork for future progress on more economic growth and deficit reduction.

Take a look at the videos that have been viewed the most.

At a press conference following a meeting with Senate and House leaders, the President said that he is optimistic an agreement that can pass both houses will be reached in time.

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Weekly Address: Congress Must Protect the Middle Class from Income Tax Hike

The White House

Office of the Press Secretary

Hello Everybody. For the past couple months, I’ve been working with people in both parties – with the help of business leaders and ordinary Americans – to come together around a plan to grow the economy and shrink our deficits.

It’s a balanced plan – one that would protect the middle class, cut spending in a responsible way, and ask the wealthiest Americans to pay a little more.  And I’ll keep working with anybody who’s serious about getting a comprehensive plan like this done – because it’s the right thing to do for our economic growth.

But we’re now at the point where, in just a couple days, the law says that every American’s tax rates are going up. Every American’s paycheck will get a lot smaller. And that would be the wrong thing to do for our economy. It would hurt middle-class families, and it would hurt the businesses that depend on your spending. 

And Congress can prevent it from happening, if they act now. Leaders in Congress are working on a way to prevent this tax hike on the middle class, and I believe we may be able to reach an agreement that can pass both houses in time.

But if an agreement isn’t reached in time, then I’ll urge the Senate to hold an up-or-down vote on a basic package that protects the middle class from an income tax hike, extends vital unemployment insurance for Americans looking for a job, and lays the groundwork for future progress on more economic growth and deficit reduction. 

I believe such a proposal could pass both houses with bipartisan majorities – as long as these leaders allow it to come to a vote. If they still want to vote no, and let this tax hike hit the middle class, that’s their prerogative – but they should let everyone vote. That’s the way this is supposed to work. 

We just can’t afford a politically self-inflicted wound to our economy. The economy is growing, but keeping it that way means that the folks you sent to Washington have to do their jobs. The housing market is healing, but that could stall if folks are seeing smaller paychecks.  The unemployment rate is the lowest it’s been since 2008, but already, families and businesses are starting to hold back because of the dysfunction they see in Washington. 

You meet your deadlines and your responsibilities every day. The folks you sent here to serve should do the same. We cannot let Washington politics get in the way of America’s progress. We’ve got to do what it takes to protect the middle class, grow this economy, and move our country forward.

Thanks, everybody.

President Obama urges Congress to meet its deadlines and responsibilities, protect the middle class from an income tax hike, and lay the groundwork for future progress on more economic growth and deficit reduction.

At a press conference following a meeting with Senate and House leaders, the President said that he is optimistic an agreement that can pass both houses will be reached in time.

A new release of White House visitor records brings the grand total of records that this White House has released to more than 2.8 million.

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