Transfer Pricing Quotes

Nothing should be more obvious than that the business organism cannot function according to design when its most important “parameters of action”—wages, prices, interest—are transferred to the political sphere and there dealt with according to the requirements of the political game or, which sometimes is more serious still, according to the ideas of some planners.

I purposefully abstain from dates on this occasion,that very one may be liberty to fix their own,aware that the cure of unconquerable passions,and the transfer of unchanging attachments,must vary much as to time in different people.---I only entreat every body to believe that exactly at the time when it was quite natural that it should be so, and not a week earlier,Edmund did cease to care about Miss Crawford, and become anxious to marry Fanny,as Fanny herself could desire.

[Walmart]s largest innovation consists in getting rid of the central Fordist principle of paying the workers enough so that they can afford to buy what they manufacture. Instead, WalMart has pioneered the inverse principle: paying the workers so little that they cannot afford to shop anywhere other than at WalMart. It might even be said, not too hyperbolically, that WalMart has singlehandedly preserved the American economy from total collapse, in that their lowered prices are the only thing that has allowed millions of the “working poor” to retain the status of consumers at all, rather than falling into the “black hole” of total immiseration. WalMart is part and parcel of how the “new economy” has largely been founded upon transferring wealth from the less wealthy to the already-extremely-rich.

We are about to be eaten by a dragon, you’re crawling on bleeding hands through bat droppings, and you’re worried about being proper?

But when necessary and proper battle it out, necessary always wins.

For a split second I wonder what I am doing here on this battlefield, on the front line. I am a princess. I am soft and regal. I am quiet, forgotten Sorrowlynn, who never leaves her rooms. And yet I am so much more. I have the capacity to be anything. To be everything! This girl running to fight for the greater good is me. For the first time ever, I feel like I am living the life I was meant to be living all along.

Look at the evolution of the price of a kilogram of the drug, as it makes its way from the Andes to Los Angeles. To make that much cocaine, one needs somewhere in the neighborhood of 350 kilograms of dried coca leaves. Based on price data from Colombia obtained by Gallego and Rico, that would cost about $385. Once this is converted into a kilo of cocaine, it can sell in Colombia for $800. According to figures pulled together by Beau Kilmer and Peter Reuter at the RAND Corporation, an American think tank, that same kilo is worth $2,200 by the time it is exported from Colombia, and it has climbed to $14,500 by the time it is imported to the United States. After being transferred to a midlevel dealer, its price climbs to $19,500. Finally, it is sold by street-level dealers for $78,000.10 Even these soaring figures do not quite get across the scale of the markups involved in the cocaine business. At each of these stages, the drug is diluted, as traffickers and dealers “cut” the drug with other substances, to make it go further. Take this into account, and the price of a pure kilogram of cocaine at the retail end is in fact about $122,000.

The age-old trick of transfer pricing Taking advantage of the fact that they operate in countries with different tax rates, TNCs [transnational corporations] have their subsidiaries over-charge or under-charge each other – sometimes grossly – so that profits are highest in those subsidiaries operating in countries with the lowest corporate tax rates. In this way, their global post-tax profit is maximized. A 2005 report by Christian Aid, the development charity, documents cases of under-priced exports like TV antennas from China at $0.40 apiece, rocket launchers from Bolivia at $40 and US bulldozers at $528 and over-priced imports such as German hacksaw blades at $5,485 each, Japanese tweezers at $4,896 and French wrenches at $1,089. The Starbucks and Google cases were different from those examples only in that they mainly involved ‘intangible assets’, such as brand licensing fees, patent royalties, interest charges on loans and in-house consultancy (e.g., coffee quality testing, store design), but the principle involved was the same. When TNCs evade taxes through transfer pricing, they use but do not pay for the collective productive inputs financed by tax revenue, such as infrastructure, education and R&D. This means that the host economy is effectively subsidizing TNCs.

I do not see how my agreeing to marry a scruffy old brute will have the power to keep a fire-breathing dragon locked beneath a mountain. And if I don’t agree to marry him, will I truly be fed to the dragon? That is savage, and inhumane, and crazy.

the consequences of scientific illiteracy are far more dangerous in our time than in any that has come before. It’s perilous and foolhardy for the average citizen to remain ignorant about global warming, say, or ozone depletion, air pollution, toxic and radioactive wastes, acid rain, topsoil erosion, tropical deforestation, exponential population growth. Jobs and wages depend on science and technology. If our nation can’t manufacture, at high quality and low price, products people want to buy, then industries will continue to drift away and transfer a little more prosperity to other parts of the world. Consider the social ramifications of fission and fusion power, supercomputers, data “highways,” abortion, radon, massive reductions in strategic weapons, addiction, government eavesdropping on the lives of its citizens, high-resolution TV, airline and airport safety, fetal tissue transplants, health costs, food additives, drugs to ameliorate mania or depression or schizophrenia, animal rights, superconductivity, morning-after pills, alleged hereditary antisocial predispositions, space stations, going to Mars, finding cures for AIDS and cancer. How can we affect national policy—or even make intelligent decisions in our own lives—if we don’t grasp the underlying issues?

Universities today loudly proclaim their commitment to diversity. But in the meantime, democratization through public investment has been replaced by democratization through consumer credit, effectively transferring the costs of diversity back to the individual student and her family. The beauty of securitized credit is that it excludes no one a priori. By abstracting from class stratification in the present, it can accommodate all differences preemptively simply by pricing them at variable rates and deferring repayment to some barely imaginable point in the future. In principle, we all have access to a college education, no matter how much we or our parents earn. Yet, private credit does not merely obscure the effects of class; it also actively exacerbates inequality by forcing those without income or collateral to pay higher rates for the same service. When the long-term costs of credit begin to materialize and accumulate, students are once again confronted with the intractable resistances of class, race, and gender stratification. The divisions of family wealth reassert themselves with all their historical force.

Why the transfer of…decisions from the individuals and organizations directly involved – often depicted collectively and impersonally as “the market” – to third parties who pay no price for being wrong should be expected to produce better results for society at large is a question seldom asked, much less answered.

If men create intelligent machines, or fantasize about them, it is either because they secretly despair of their own intelligence or because they are in danger of succumbing to the weight of a monstrous and useless intelligence which they seek to exorcize by transferring it to machines, where they can play with it and make fun of it. By entrusting this burdensome intelligence to machines we are released from any responsibility to knowledge, much as entrusting power to politicians allows us to disdain any aspiration of our own to power. If men dream of machines that are unique, that are endowed with genius, it is because they despair of their own uniqueness, or because they prefer to do without it - to enjoy it by proxy, so to speak, thanks to machines. What such machines offer is the spectacle of thought, and in manipulating them people devote themselves more to the spectacle of thought than to thought itself. It is not for nothing that they are described as 'virtual', for they put thought on hold indefinitely, tying its emergence to the achievement of a complete knowledge. The act of thinking itself is thus put off for ever. Indeed, the question of thought can no more be raised than the question of the freedom of future generations, who will pass through life as we travel through the air, strapped into their seats. These Men of Artificial Intelligence will traverse their own mental space bound hand and foot to their computers. Immobile in front of his computer, Virtual Man makes love via the screen and gives lessons by means of the teleconference. He is a physical - and no doubt also a mental cripple. That is the price he pays for being operational. Just as eyeglasses and contact lenses will arguably one day evolve into implanted prostheses for a species that has lost its sight, it is similarly to be feared that artificial intelligence and the hardware that supports it will become a mental prosthesis for a species without the capacity for thought. Artificial intelligence is devoid of intelligence because it is devoid of artifice.

Ideally, a fair and equitable society would regulate debt in line with the ability to be paid without pushing economies into depression. But when shrinking markets deepen fiscal deficits, creditors demand that governments balance their budgets by selling public monopolies. Once the land, water and mineral rights are privatized, along with transportation, communications, lotteries and other monopolies, the next aim is to block governments from regulating their prices or taxing financial and rentier wealth. The neo-rentier objective is threefold: to reduce economies to debt dependency, to transfer public utilities into creditor hands, and then to create a rent-extracting tollbooth economy. The financial objective is to block governments from writing down debts when bankers and bondholders over-lend. Taken together, these policies create a one-sided freedom for rentiers to create a travesty of the classical “Adam Smith” view of free markets. It is a freedom to reduce the indebted majority to a state of deepening dependency, and to gain wealth by stripping public assets built up over the centuries.

I don’t know to what extent ignorance of science and mathematics contributed to the decline of ancient Athens, but I know that the consequences of scientific illiteracy are far more dangerous in our time than in any that has come before. It’s perilous and foolhardy for the average citizen to remain ignorant about global warming, say, or ozone depletion, air pollution, toxic and radioactive wastes, acid rain, topsoil erosion, tropical deforestation, exponential population growth. Jobs and wages depend on science and technology. If our nation can’t manufacture, at high quality and low price, products people want to buy, then industries will continue to drift away and transfer a little more prosperity to other parts of the world. Consider the social ramifications of fission and fusion power, supercomputers, data “highways,” abortion, radon, massive reductions in strategic weapons, addiction, government eavesdropping on the lives of its citizens, high-resolution TV, airline and airport safety, fetal tissue transplants, health costs, food additives, drugs to ameliorate mania or depression or schizophrenia, animal rights, superconductivity, morning-after pills, alleged hereditary antisocial predispositions, space stations, going to Mars, finding cures for AIDS and cancer.

A 1997 study of the consumer product design firm IDEO found that most of the company’s biggest successes originated as “combinations of existing knowledge from disparate industries.” IDEO’s designers created a top-selling water bottle, for example, by mixing a standard water carafe with the leak-proof nozzle of a shampoo container. The power of combining old ideas in new ways also extends to finance, where the prices of stock derivatives are calculated by mixing formulas originally developed to describe the motion of dust particles with gambling techniques. Modern bike helmets exist because a designer wondered if he could take a boat’s hull, which can withstand nearly any collision, and design it in the shape of a hat. It even reaches to parenting, where one of the most popular baby books—Benjamin Spock’s The Common Sense Book of Baby and Child Care, first published in 1946—combined Freudian psychotherapy with traditional child-rearing techniques. “A lot of the people we think of as exceptionally creative are essentially intellectual middlemen,” said Uzzi. “They’ve learned how to transfer knowledge between different industries or groups. They’ve seen a lot of different people attack the same problems in different settings, and so they know which kinds of ideas are more likely to work.” Within sociology, these middlemen are often referred to as idea or innovation brokers. In one study published in 2004, a sociologist named Ronald Burt studied 673 managers at a large electronics company and found that ideas that were most consistently ranked as “creative” came from people who were particularly talented at taking concepts from one division of the company and explaining them to employees in other departments. “People connected across groups are more familiar with alternative ways of thinking and behaving,” Burt wrote. “The between-group brokers are more likely to express ideas, less likely to have ideas dismissed, and more likely to have ideas evaluated as valuable.” They were more credible when they made suggestions, Burt said, because they could say which ideas had already succeeded somewhere else.

The federal government could make a Rolls Royce affordable for every American, but we would not be a richer country as a result. We would in fact be a much poorer country, because of all the vast resources transferred from other economic activities to subsidize an extravagant luxury. [...] To have politicians arbitrarily change the price tags, so that prices no longer represent the real costs, is to defeat the whole purpose [of an economy: to make trade-offs, with the prices of a market economy representing the costs of producing things]. Reality doesn't change when the government changes price tags. Talk about "bringing down health care costs" is not aimed at the costly legal environment in which medical science operates, or other sources of needless medical costs. It is aimed at price control, which hides costs rather than reducing them. [...] Whether in France during the 1790s, the Soviet Union after the Bolshevik revolution, or in newly independent African nations during the past generation, governments have imposed artificially low prices on food. In each case, this led to artificially low supplies of food and artificially high levels of hunger. People who complain about the "prohibitive" cost of housing, or of going to college, for example, fail to understand that the whole point of costs is to be prohibitive. [...] The idea [that "basic necessities" should be a "right"] certainly sounds nice. But the very fact that we can seriously entertain such a notion, as if we were God on the first day of creation, instead of mortals constrained by the universe we find in place, shows the utter unreality of failing to understand that we can only make choices among alternatives actually available. [...] Trade-offs [as opposed to solutions] remain inescapable, whether they are made through a market or through politics. The difference is that price tags present all the trade-offs simultaneously, while political 'affordability' policies arbitrarily fix on whatever is hot at the moment. That is why cities have been financing all kinds of boondoggles for years, while their bridges rusted and the roadways crumbled.

if consumer demand should increase for the goods or services of any private business, the private firm is delighted; it woos and welcomes the new business and expands its operations eagerly to fill the new orders. Government, in contrast, generally meets this situation by sourly urging or even ordering consumers to “buy” less, and allows shortages to develop, along with deterioration in the quality of its service. Thus, the increased consumer use of government streets in the cities is met by aggravated traffic congestion and by continuing denunciations and threats against people who drive their own cars. The New York City administration, for example, is continually threatening to outlaw the use of private cars in Manhattan, where congestion has been most troublesome. It is only government, of course, that would ever think of bludgeoning consumers in this way; it is only government that has the audacity to “solve” traffic congestion by forcing private cars (or trucks or taxis or whatever) off the road. According to this principle, of course, the “ideal” solution to traffic congestion is simply to outlaw all vehicles! But this sort of attitude toward the consumer is not confined to traffic on the streets. New York City, for example, has suffered periodically from a water “shortage.” Here is a situation where, for many years, the city government has had a compulsory monopoly of the supply of water to its citizens. Failing to supply enough water, and failing to price that water in such a way as to clear the market, to equate supply and demand (which private enterprise does automatically), New York’s response to water shortages has always been to blame not itself, but the consumer, whose sin has been to use “too much” water. The city administration could only react by outlawing the sprinkling of lawns, restricting use of water, and demanding that people drink less water. In this way, government transfers its own failings to the scapegoat user, who is threatened and bludgeoned instead of being served well and efficiently. There has been similar response by government to the ever-accelerating crime problem in New York City. Instead of providing efficient police protection, the city’s reaction has been to force the innocent citizen to stay out of crime-prone areas. Thus, after Central Park in Manhattan became a notorious center for muggings and other crime in the night hours, New York City’s “solution” to the problem was to impose a curfew, banning use of the park in those hours. In short, if an innocent citizen wants to stay in Central Park at night, it is he who is arrested for disobeying the curfew; it is, of course, easier to arrest him than to rid the park of crime. In short, while the long-held motto of private enterprise is that “the customer is always right,” the implicit maxim of government operation is that the customer is always to be blamed.

Churchill made a point about the power of government: A National or Municipal Beef Trust, with the United States Treasury at its back, might indeed give more regular employment at higher wages to its servants, and might sell cleaner food to its customers—at a price. But if evil systems corrupt good men, it is no less true that base men will dishonor any system, and while no bond of duty more exacting than that of material recompense regulates the relations of man and man, while no motion more lofty than that of self-interest animates the exertions of every class, and no hope beyond the limits of this fleeting world lights the struggles of humanity, the most admirable systems will merely succeed in transferring, under different forms and pretexts, the burden of toil, misery, and injustice from one set of human shoulders to another.

Inefficiency. A centralized financial system has many inefficiencies. Perhaps the most egregious example is the credit card interchange rate that causes consumers and small businesses to lose up to 3 percent of a transaction's value with every swipe due to the payment network oligopoly's pricing power. Remittance fees are 5–7 percent. Time is also wasted in the two days it takes to “settle” a stock transaction (officially transfer ownership). In the Internet age, this seems utterly implausible. Other inefficiencies include costly (and slow) transfer of funds, direct and indirect brokerage fees, lack of security, and the inability to conduct microtransactions, many of which are not obvious to users. In the current banking system, deposit interest rates remain very low and loan rates high because banks need to cover their brick-and-mortar costs. The insurance industry provides another example.

The Blood player could acquire a Rose item, but only by handing over an atrocity, thus leaving himself with less ammunition and the Rose player with more. If he was a skilful player he could attack the Rose side by means of the atrocities in his possession, loot the human achievement, and transfer it to his side of the board. The player who managed to retain the most human achievements by Time’s Up was the winner. With points off, naturally, for achievements destroyed through his own error and folly and cretinous play. The exchange rates – one Mona Lisa equalled Bergen-Belsen, one Armenian genocide equalled the Ninth Symphony plus three Great Pyramids – were suggested, but there was room for haggling. To do this you needed to know the numbers – the total number of corpses for the atrocities, the latest open-market price for the artworks; or, if the artworks had been stolen, the amount paid out by the insurance policy. It was a wicked game.

I know that the consequences of scientific illiteracy are far more dangerous in our time than in any that has come before. It’s perilous and foolhardy for the average citizen to remain ignorant about global warming, say, or ozone depletion, air pollution, toxic and radioactive wastes, acid rain, topsoil erosion, tropical deforestation, exponential population growth. Jobs and wages depend on science and technology. If our nation can’t manufacture, at high quality and low price, products people want to buy, then industries will continue to drift away and transfer a little more prosperity to other parts of the world. Consider the social ramifications of fission and fusion power, supercomputers, data “highways,” abortion, radon, massive reductions in strategic weapons, addiction, government eavesdropping on the lives of its citizens, high-resolution TV, airline and airport safety, fetal tissue transplants, health costs, food additives, drugs to ameliorate mania or depression or schizophrenia, animal rights, superconductivity, morning-after pills, alleged hereditary antisocial predispositions, space stations, going to Mars, finding cures for AIDS and cancer. How can we affect national policy—or even make intelligent decisions in our own lives—if we don’t grasp the underlying issues? As I write, Congress is dissolving its own Office of Technology Assessment—the only organization specifically tasked to provide advice to the House and Senate on science and technology. Its competence and integrity over the years have been exemplary. Of the 535 members of the U.S. Congress, rarely in the twentieth century have as many as one percent had any significant background in science. The last scientifically literate President may have been Thomas Jefferson.* So how do Americans decide these matters? How do they instruct their representatives? Who in fact makes these decisions, and on what basis? —

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To purchase a Volkswagen, customers were required to make a weekly deposit of at least 5 Reichsmarks into a DAF account on which they received no interest. Once the account balance had reached 750 Reichsmarks, the customer was entitled to delivery of a VW. The DAF meanwhile achieved an interest saving of 130 Reichsmarks per car. In addition, purchasers of the VW were required to take out a two-year insurance contract priced at 200 Reichsmarks. The VW savings contract was non-transferable, except in case of death, and withdrawal from the contract normally meant the forfeit of the entire sum deposited. Remarkably, 270,000 people signed up to these contracts by the end of 1939 and by the end of the war the number of VW-savers had risen to 340,000. In total, the DAF netted 275 million Reichsmarks in deposits. But not a single Volkswagen was ever delivered to a civilian customer in the Third Reich. After 1939, the entire output was reserved for official uses of various kinds. Most of Porsche’s half-finished factory was turned over to military production. The 275 million Reichsmarks deposited by the VW savers were lost in the post-war inflation. After a long legal battle, VW’s first customers received partial compensation only in the 1960s.

In many societies women were simply the property of men, most often their fathers, husbands or brothers. Rape, in many legal systems, falls under property violation – in other words, the victim is not the woman who was raped but the male who owns her. This being the case, the legal remedy was the transfer of ownership – the rapist was required to pay a bride price to the woman’s father or brother, upon which she became the rapist’s property. The Bible decrees that ‘If a man meets a virgin who is not betrothed, and seizes her and lies with her, and they are found, then the man who lay with her shall give to the father of the young woman fifty shekels of silver, and she shall be his wife’ (Deuteronomy 22:28–9). If a husband raped his own wife, he had committed no crime. In fact, the idea that a husband could rape his wife was an oxymoron. To be a husband was to have full control of your wife’s sexuality. To say that a husband ‘raped’ his wife was as illogical as saying that a man stole his own wallet. Such thinking was not confined to the ancient Middle East. As of 2006, there were still fifty-three countries where a husband could not be prosecuted for the rape of his wife. Even in Germany, rape laws were amended only in 1997 to create a legal category of marital rape.

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Traditional development programmes stress resources and markets. People are poor, the argument goes, because they lack resources: not just money but roads, clinics, schools and irrigation canals. The job of development is to provide those things. And since resources also need to be allocated properly, prices have to be right. So a lot of development is about freeing prices and making markets more efficient. A behavioural approach to development is different. It focuses on how decisions are made and how they can be improved. For example, in Bogotá a conditional-cash transfer programme paid mothers a monthly stipend if they took their children to school. Attendance during the school year was good but

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We need the rich today to do their modest part to enable all of society to share in prosperity. By passing that hurdle, we would reduce the need for long-term transfers from rich to poor in the future. The

The information revolution didn't make information free. What it did was transfer the money from the producers of information to the owners of the technologies that deliver it to their audience

In many cases, help for the poor is not simply an income transfer used for short-run consumption but is a government benefit that enables poor households to raise their long-term productivity. Some of the key government programs for poor households include help for nutrition of mothers and young children; preschool; college tuition; and job training. Each of these is a government-supported investment in “human capital” and specifically a way for a poor household to raise its long-term productivity. Taxing the rich to help the poor can then mean cutting lavish consumption spending by the rich to support high-return human investments by the poor. The outcome is not only fairer but also more efficient. The

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Provisions that set forth what the contract is about, referred to herein as the "operative provisions." For example, the operative provisions of a contract to sell the assets of a business would include a description of the assets, the calculation and method of payment of the purchase price, and the mechanics of transferring the assets. An asset sale contract containing only these operative provisions would be a very short document, legally enforceable, but not addressing many of the other important issues that buyers and sellers care about. What

It may be argued that the host country should not complain about transfer pricing, because, without the foreign direct investment in question, the taxable income would not have been generated in the first place. But this is a disingenuous argument. All firms need to use productive resources provided by government with taxpayers' money (e.g., roads, the telecommunications network, workers who have received publicly funded education and training). So, if the TNC subsidiary is not paying its 'fair share' of tax, it is effectively free-riding on the host country.

father—his name is Brockman—was working on developing a chip for mind-body transfers.

But Amazon is not alone in its avoidance of taxes. Bloomberg Businessweek reports, “The tactics of Google and Facebook depend on ‘transfer pricing,’ paper transactions among corporate subsidiaries that allow for allocating income to tax havens while attributing expenses to higher-tax countries. Such income shifting costs the U.S. government as much as $60 billion in annual revenue, according to Kimberly A. Clausing, an economics professor at Reed College in Portland, Oregon.” At a time when both local and federal governments are putting off needed infrastructure improvements because of tax revenue shortfalls, the tax avoidance schemes of our richest technology companies are partially to blame.

Rivalry is especially destructive to profitability if it gravitates solely to price because price competition transfers profits directly from an industry to its customers. P.32

Housing privatization in China was one of the greatest wealth transfers in history, and it laid the foundations for the extraordinary housing boom of the following decade. Urban households got to buy valuable property for far less than its market value. The difference between what they paid their SOE landlords for this property, and the higher price they were ultimately able to sell it for, represented a transfer of wealth from the state to households. The total value of that wealth transfer was about $540 billion, or one-third of China’s GDP in 2003, the year when housing privatization was largely complete.14

You could be on the other side of the door which you think is barred against you. It will open wide when you are ready to enter; that is, when you have paid the price of admission. No one can give you a free pass, and admission tickets are not transferable. You must pay the price yourself or stay outside. The price is self-effort.

In October 2010 a Bloomberg reporter explained how Google Inc. cut its taxes by $3.1 billion in the previous three years through transfer pricing games known by names such as the “Double Irish” and the “Dutch Sandwich,” ending up with an overseas tax rate of 2.4 percent. The problem is getting worse. Microsoft’s tax bill has been falling sharply, for similar reasons. Cisco is at it. They are all at it. Transfer pricing alone costs the United States an estimated $60 billion a year—and that is just one form of the offshore tax game.

Arsenal hasn’t been a great soccer club lately, but it has been a good business. This is what a soccer club run as a business looks like: high ticket prices, little desire to win trophies, and respectable profits. If FFP takes force, and other big clubs end up being run like Arsenal rather than like Abramovich’s Chelsea, then we predict:        •   A fall in players’ wages        •   A fall in transfer fees, which would mean less money trickling down from big clubs to the rest        •   A rise in club profits, which would mean more money being taken out of the game by people like the Glazers

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The part of national income that is available to families, after taxes have been paid and any transfers received, is personal disposable income, which is the second line from the top. It is a good deal smaller than GDP, but the historical picture of growth and fluctuation is very similar. Much the same is true if we look, not at what people get, but at what they spend. This is consumers’ expenditure, the third line. The difference between personal disposable income and consumers’ expenditure is the amount that people save, and the figure shows that the fraction of their income that Americans save has been falling, especially over the past thirty years. We don’t know exactly why this has happened, and there are several possible explanations: it is easier to borrow than it used to be; it is no longer as necessary as it once was to save up to make the deposit on a house, a car, or a dishwasher; Social Security has perhaps reduced the need to save for retirement; and the average American benefited from increases in the stock market and in house prices—at least until the Great Recession.

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Despite the continual calls for expanded background checks after mass public shootings, there is no evidence that background checks on private transfers of guns would have prevented any of the attacks. Nor is there any statistical evidence that indicates that these mass public shootings are rarer in states with background checks on private transfers. What we do find is that fatalities and injuries from mass public shootings increased in states after they imposed background checks on private transfers. States with background checks on private transfers tended to have relatively low rates of murders and injuries from mass public shootings before the passage of background checks on private transfers, and these rates became relatively high afterwards. Clearly, there is no evidence that these laws lower mass public shootings. There are real costs of expanding background checks to private transfers. In particular, the fees on private transfers reduce gun ownership, particularly among law-abiding poor blacks who live in high crime urban areas and who benefit the most from protecting themselves; they will be the ones most likely priced out of owning guns for protection. Without some benefits in terms of either reduced crime or mass public shootings, it is hard to see how these rules pass any type of cost-benefit test.

homes. In this book, we will show how claims that real hourly earnings and real median household income have stagnated in postwar America and that the poverty rate has remained unchanged for fifty years are solely the result of a failure by the statistical agencies of the American government to count most transfer payments as income and to use the most accurate available price indexes to adjust for inflation. Every significant measure of economic well-being expressed in terms of dollars is higher than the official measure shown in government statistics.

With the brakes off, the oligarchs embarked on an orgy of stealing. The tools they used were many and with no law enforcement to stop them, their imaginations ran wild. They engaged in asset stripping, dilutions, transfer pricing, and embezzlement, to name but a few of their tricks.

As share prices rise, the money men ratchet up immense profits, leaving bankers with a juicy cut. And when the bubble bursts, the bankers dial the number of their favorite politician, whose campaign they featherbedded, and, before anyone notices, their losses are transferred to the taxpayer — many of whom the banks evict from their homes after foreclosing on their mortgages.

It is clearly evident that unethical and corrupt practices were the bedrock of Prannoy Roy journalism. After getting the Doordarshan contract through patronage and a quid pro quo, he shrewdly cashed out over Rs.23 crores (to his personal account in 1994-95) in a short span of few years (see Table 1 below) by selling shares at astronomical valuations to a foreign investor. Simply put, through political patronage he built a business and cashed out for personal profit.  Table 1. Source: NDTV public issue prospectus filed with SEBI in 2004. Date of transfer No. of Equity Shares (Face value of Rs.10) Cost per Shares (Rs.) Price (Rs.) Nature of payment No. of Equity Shares (of Face Value of Rs.4) post splitting 21 Oct 1994 48,140 10 675 Cash 120,350 16 May 1995 99,070 10 675 Cash 247,675 Jul 21 1995 121,625 10 675 Cash 304,063 Aug 22 1995 81,481 10 675 Cash 203,702 After inking favorable deals with Doordarshan, many people in Central Government in 1997 helped NDTV to clinch a magical figure deal with Rupert Murdoch’s Star TV[3] during the liberalization period. The Lutyens Delhi’s cozy club arm twisted Murdoch into an agreement with Prannoy Roy’s NDTV to launch the Star News channel.

Fines, often in the thousands of dollars, are assessed against many prisoners when they are sentenced. There are twenty-two fines that can be imposed in New Jersey, including the Violent Crime Compensation Assessment (VCCA), the Law Enforcement Officers Training & Equipment Fund (LEOT), and Extradition Costs (EXTRA). The state takes a percentage each month out of a prisoner’s wages to pay for penalties. It can take decades to pay fines. Some 10 million Americans owe $50 billion in fees and fines because of their arrest or imprisonment, according to a 2015 report by the Brennan Center. If a prisoner who is fined $10,000 at sentencing relies solely on a prison salary, he or she will owe about $4,000 after making monthly payments for twenty-five years. Prisoners often leave prison in debt to the state. And if they cannot continue to make regular payments—difficult because of high unemployment among ex-felons—they are sent back to prison. High recidivism is part of the design. Most of the prison functions once handled by governments have become privatized. Corporations run prison commissaries and, since the prisoners have nowhere else to shop, often jack up prices by as much as 100 percent. Corporations have taken over the phone systems and grossly overcharge prisoners and their families. They demand exorbitant fees for money transfers from families to prisoners. And corporations, with workshops inside prisons, pay little more than a dollar a day to prison laborers. Food and merchandise vendors, construction companies, laundry services, uniform companies, prison equipment vendors, cafeteria services, manufacturers of pepper spray, body armor, and the array of medieval-looking instruments used for the physical control of prisoners, and a host of other contractors feed like jackals off prisons. Prisons, in America, are big business.