Do You Own an Offshore Bank Account?

I know that few of you do.  One person that does is the Republican candidate for president, Mitt Romney.  Just Google the above question and you will obtain quite a few responses.  Google, “Romney’s secret offshore bank accounts.”  You will see articles posted by Vanity Fair, Huffington Post, and the NY Daily News.  I know what you are thinking.  Those are all Liberal news companies.  You would be wrong.  The NY Daily News is owned by one wealthy businessman, Mort Zuckerman.  The same Mort Zuckerman who also owns U.S. News & World Report.  The same Mort Zuckerman who has been appearing as a guest on many political talk shows and slamming Barack Obama.

Mitt and Ann Romney
Mitt and Ann Romney

This is the New York Daily News report.

Mitt Romney’s massive fortune – estimated to be as high as $250 million – is held in a complex and opaque network of offshore havens that are impossible to penetrate, according to a report in Vanity Fair.

By / NEW YORK DAILY NEWS

Mitt Romney’s massive fortune – estimated to be as high as $250 million – is held in a complex and opaque network of offshore havens that are impossible to penetrate, according to a report in Vanity Fair.

Romney had a Swiss bank account and has interests in tax havens like Bermuda and the Cayman Islands. The Romney campaign has insisted he does not use the havens to avoid paying U.S. taxes, but Vanity Fair wrote it is impossible to confirm that he is not seeing a savings.

The Republican candidate paid a 14 percent tax rate on $21.7 million in income in 2010 – far lower than the rate paid by many Americans because his earnings comes from investments rather than wages.

Vanity Fair noted that Romney has continued to receive large payments from Bain Capital since leaving the private equity firm in 1999.

Romney has personal interests in at least a dozen of the 138 or more funds organized by Bain in the Cayman Islands. Vanity Fair said the Romney-related funds are worth as much as $30 million and hidden behind confidentiality disclaimers.

READ MORE: MITT ROMNEY HOLDS MILLIONS IN CAYMAN ISLES TAX HAVEN, BUT SAYS ‘I’M NO TAX DODGER’

The report also raised questions about Romney’s blind trusts, which are used by politicians to remove conflicts of interests by turning investment control over to an independent trustee.

Romney’s financial disclosure form lists 25 such investments in an open-ended category labeled “over $1 million,” Vanity Fair reported. Many of them are set up in tax havens like the Cayman Islands.

Meanwhile, the Romney campaign is distancing itself from the CEO of Barclays, who stepped down from the British bank Tuesday amid an interest-rate fixing scandal.

Robert Diamond will no longer co-host a London fundraiser scheduled for July 27 when Romney will be in town for the Olympics.

“Mr. Diamond decided to step aside as a co-host for the upcoming London reception to focus all his attention on Barclays,” Romney spokeswoman Andrea Saul told The Financial Times. “We respect his decision.” The fundraiser will go on without the former CEO.

Barclays was fined $453 million last week by U.S. and British regulators for submitting false reports on interbank borrowing rates between 2005 and 2009.

Israeli Draft Pits Secular Jews vs. Ultra-Orthodox

A central problem for the State of Israel is that it is a theocratic democracy.  People can elect representatives, but religious leaders have a lot of power over what the government can do.  How can Israel, a country that holds itself out as the one true democracy in the Middle East, allow a minority religious sect to dictate its rights and the rule of law for the entire nation?

This article was posted by the Associated Press on my home page.  It has been abridged due to its length.

ARON HELLER
From Associated Press

July 07, 2012 3:09 PM EDT

JERUSALEM (AP) — Deep in the heart of Mea Shearim, a Jerusalem bastion of hardline ultra-Orthodox Jews, hundreds of bearded young men in black suits have their noses burrowed into books, immersed in biblical study and oblivious to their surroundings.

They are the creme de la creme of a cloistered community, the Harvard of the ultra-Orthodox world, who are expected neither to work for a living nor serve in the military with other Israelis.

The fight centers on whether ultra-Orthodox males should be drafted into the military along with other Jews, but it really is about a much deeper issue: the place of Judaism in the Jewish state.

The question has come to the fore as the government races to meet a Supreme Court-ordered deadline to revamp the nation’s draft law. In its current form, secular males must perform three years of compulsory service when they turn 18. Ultra-Orthodox men, like the young scholars at the Mir Yeshiva, have special exemptions that allow them to continue studying in their isolated enclaves while collecting government subsidies.

For their supporters, seminary students are preserving a tradition that has served as the very bedrock of Judaism for thousands of years.

“Jews need to study the Bible. That is what makes us unique as a people,” Yerach Tucker, a 30-year-old spokesman for the ultra-Orthodox community, said proudly as he guided a visitor through the Mir Yeshiva. “It is the essence of our lives.”

But polls show the vast majority of Israelis, who risk their lives and put their careers on hold while serving in the military, object strongly to the arrangement, and many see it as the essence of everything that is wrong with their country.

This resentment has fueled a broader high-decibel culture war.

“It is something so ethical, so basic, that we have all grown up upon: service, giving to the state. Everyone here has to give something to society because we are one society,” said Boaz Nol, a reserve officer who was among those planning a massive protest in Tel Aviv against the continued exemptions.

More than 10,000 reservists and their supporters turned out for the rally Saturday night, many of them carrying placards reading “everybody serves.”

The Supreme Court earlier this year ruled the draft exemptions illegal and gave the government until Aug. 1 to figure out a new, fairer system. That is proving far more difficult than expected.

Benjamin Netanyahu’s largest governing partner, the centrist Kadima Party, is now threatening to quit the government, just two months after joining the coalition with the goal of reforming the draft. Netanyahu has vowed to find a compromise.

Dan Halutz, a former Israeli military chief turned Kadima politician, visited the reservists’ protest tent in Tel Aviv Saturday and announced that he was leaving the party.

A glimpse into the world of the ultra-Orthodox shows just how intractable the issue has become. The draft exemptions date back to the time of Israel’s independence in 1948, when founding father David Ben-Gurion exempted 400 exemplary seminary students to help rebuild great schools of Jewish learning destroyed in the Holocaust, when 6 million Jews were murdered.

As ultra-Orthodox parties became power brokers, the numbers mounted. Ultra-Orthodox officials now estimate there are about 100,000 full-time Torah learners of draft age. The heavy emphasis on religious study, begun early on in a separate system of elementary schools, has pushed many ultra-Orthodox men to shun the work world, relying on welfare as they spend their days immersed in holy texts. The ultra-Orthodox make up about 10 percent of Israel’s 8 million citizens.

Steep unemployment, believed to hover around 50 percent, coupled with a high birthrate has fueled deep poverty in the ultra-Orthodox sector. Experts say if these trends continue, Israel’s long-term economic prospects are in danger.

Leaders speak proudly of centuries-old traditions of prayer and learning that they believe has allowed the Jewish people to survive such tragedies as the Spanish Inquisition, European pogroms and the Holocaust.

Ultra-Orthodox leaders insist they will never be forced to serve in the military.

For decades, a string of secular-led Israeli governments have maintained the status quo, either because of their dependence on ultra-Orthodox political kingmakers or out of fear of an angry backlash from a sector that hasn’t hesitated to block roads, clash with police or mobilize tens of thousands of activists into the streets when ordered by their rabbis.

With the clock ticking, Netanyahu now faces a near-impossible task as he tries to satisfy the demands of the secular masses, the Supreme Court and various coalition partners all while preventing sectarian unrest.

Before the parliamentary committee collapse, ultra-Orthodox parties boycotted the panel.

A day after Netanyahu disbanded the committee, its chairman nonetheless released his recommendations. Among the proposals: that no more than 20 percent of ultra-Orthodox males, roughly 1,500 people a year, be granted exemptions, while others be permitted to defer service for no more than five years. A national service option was also introduced for those who didn’t fit into the military.

The details of the debate have dominated political discussion in Israel, handing Netanyahu his biggest challenge yet since he formed a 94-member coalition in early May. His office says he will meet quietly with political leaders in the coming days in order to formulate a fair draft law.

Unlike other Israelis, who mark graduations, military promotions, and professional accomplishments, the ultra-Orthodox only celebrate study. Later this month, for instance, thousands of believers are scheduled to pack a basketball arena to mark the completion of a full study of the Talmud — a seven-year odyssey in which 2,700 pages of rabbinical debates over Jewish law are meticulously dissected at a pace of one page a day.

Many ultra-Orthodox sects aren’t even Zionist and refuse to recognize Israel as a Jewish state until the coming of the Messiah. Some tiny extreme sects even side with the Palestinians and Israel’s archenemy Iran.

Most object to change on much simpler grounds. In Hebrew, the ultra-Orthodox are known as “Haredim,” or “those who fear” God. But it’s not death they fear in the military — it’s immersion in what they see as a secular and hedonistic society.

“The main reason that we can’t serve is that the military simply doesn’t suit us. The military is a secular melting pot,” said Chaim Walder, a well-known ultra-Orthodox author and activist.

It’s not clear how much the military even wants Haredi conscripts. While it formally calls for everyone to serve, military officials acknowledge it will be extremely difficult to incorporate them into the army.

Many Haredi men lack basic skills, like rudimentary math, because their independent school systems barely teach them. Their aversion to direct contact with women would require segregation and could undercut the military’s record of giving female soldiers equal opportunities.

Insubordination could also grow if ultra-Orthodox men found themselves forced to choose between religious beliefs and commanders’ orders.

The costs would also be high: Drafting this community would require special arrangements, such as kitchens conforming to the strictest interpretation of Jewish dietary law and a large chunk of the day set aside for bible study. And as those who are married and with children are entitled to higher salaries — the military would face another financial burden.

Inclusion has been successful in some areas however. The army has designed a number of roles specifically for the needs of ultra-Orthodox soldiers, including a segregated infantry unit as well as computer, technology and intelligence units.

A military official involved in the effort said 85 percent of discharged ultra-Orthodox soldiers went on to find jobs in civilian life.

But altogether, the numbers remain small. Fewer than 1,300 conscripts participated in these programs over the past year, military figures show.

Some leading rabbis have ruled that those not cut out for intensive seminary life or those who were already married — and perhaps less susceptible to the lure of the secular world — could be eligible to serve or take part in a range of civil service options being considered.

“The only thing that is truly keeping us safe here is bible study,” Chaim Walder said. “We are protecting the country with our prayer. We are making sure that there is something here to protect.”
____

Follow Aron Heller at http://www.twitter.com/aronhellerap

Can Anyone Fix This Economy?

Read Mitt’s plan then read Barack’s plan.  If it’s “the economy stupid” then where is the plan to set the nation on a course to recovery?

The number of new employees added to the job payrolls has been less than breathtaking. With 5 million long term unemployed is anything other than low pay service sector jobs going to be created in the coming years?  The number of new June jobs is 80,000.  The unemployment rate remains at 8.2% for a second straight month.  That is less than the number required to keep pace with our growing population according to most economists.  Perhaps the better question to ask is what are the plans of the two candidates for president?

From Mitt Romney’s campaign web site.

Mitt’s Plan

Mitt Romney sees two important objectives that America can pursue immediately to build on the extraordinary traditional strengths of its workforce. The first is to retrain American workers to ensure that they have the education and skills to match the jobs of today’s economy. The second is to attract the best and the brightest from around the world.
   

Retraining Workers

Mitt Romney will approach retraining policy with a conservative mindset that recognizes it as an area where the federal government is particularly ill-equipped to succeed. Retraining efforts must be founded upon a partnership that brings together the states and the private sector. The sprawling federal network of redundant bureaucracies should be dismantled and the funds used for better purposes. One particularly promising approach that Romney supports and believes states should be encouraged to pursue is a system of Personal Reemployment Accounts for unemployed individuals. These accounts would facilitate programs that place individuals directly into companies that provide on-the-job training—as governor of Massachusetts, Romney helped create just such a program.

  • Eliminate redundancy in federal retraining programs by consolidating programs and funding streams, centering as much activity as possible in a single agency
  • Give states authority to manage retraining programs by block granting federal funds
  • Facilitate the creation of Personal Reemployment Accounts
  • Encourage greater private sector involvement in retraining programs

Attracting the Best and the Brightest

To ensure that America continues to lead the world in innovation and economic dynamism, a Romney administration would press for an immigration policy designed to maximize America’s economic potential. The United States needs to attract and retain job creators from wherever they come. Foreign-born residents with advanced degrees start companies, create jobs, and drive innovation at an especially high rate. While lawful immigrants comprise about 8 percent of the population, immigrants start 16 percent of our top-performing, high-technology companies, hold the position of CEO or lead engineer in 25 percent of high-tech firms, and produce over 25 percent of all patent applications filed from the United States.

  • Raise visa caps for highly skilled workers
  • Grant permanent residency to eligible graduates with advanced degrees in math, science, and engineering

Barack Obama jobs plan is not posted on his campaign web site.  Instead his site points to the growth of jobs and offers these successes and plans.

Barack’s Plan

  489,000: Jobs added in the manufacturing sector since January 2010

  233,000: Jobs added in the auto industry since June 2009—the most growth in a decade

  100%: The percent of investment in plants and equipment that businesses could expense under a tax cut extension President Obama proposed, which would spur investment in the United States

  18%: Tax deduction President Obama has proposed for domestic advanced manufacturing technologies—which would double the current 9 percent deduction

  20%: Income tax credit the President has proposed providing to companies on expenses related to moving operations back to the United   States

Neither candidate offers any idea to re-employ those middle class wage earners that have faced a devastatingly long unemployment period.  As matter of fact no one has offered one sensible plan.  If Mitt Romney believes that the independent voters will elect him to office by just saying Obama has failed to re-invigorate the economy he is not likely to gain my support.  He should not gain your support either.  Vague references to re-training programs when the there are no growing industries are not enough.

If my choice is between just another face and no plan then I will vote for Obama.  At least he has the experience that no other job in the world can provide.  Then again why should I vote for a leader who has not been able to change our course?

The Astonishing List of Products Made by One Company

I was casually looking at a Sunday paper a few weeks ago and was flipping through the coupon packages when I noticed a group with the cover page titled Procter and Gamble.

The list was astounding.  I realized that many of the items in my house are all made by the same company.  Just read the list.  This is not their complete list.  This is just the items in my house past and present.

Columns are not aligned.  It’s a problem for me.

Beauty & Grooming

Always                        Clairol Professional              CoverGirl      

Crest                            Head & Shoulders                 Herbal

Gillette                       Essences                                     Ivory

Nice ‘n Easy              Olay                                             Old  Spice

Oral-B                         Pantene                                     Scope 

Tampax                      Vidal Sassoon

Household Care

Ace                              Bounce                                   Bounty                       

Cascade                     Downy

Charmin                    Cheer                                      Comet

Duracell                     Febreze                                  

Mr. Clean                 

Pampers                    Pepto-Bismol                       Prilosec OTC

Swiffer                       Vicks                   

Obama Care is the Wrong Plan

No doubt, health care for all Americans is a wonderful idea.

I oppose this law for one single reason.  There are no controls or limits on the cost of insurance.  The explanations I have read say that insurance companies can make reasonable rate increases to cover their costs.   What is “reasonable?”  It appears that costs will increase for three reasons.

1) 10 to 15 million people will be added to insurance company rolls without adequate payments to cover their enrollment.

2) Those excluded from insurance because of pre-existing conditions will be now be added to the plans.

3) Insurance companies will be permitted to earn 20% of the fees they charge.

Without a plan to control medical costs no plan can survive. 

Just today I received a plea from change.org to sign a petition addressed to Blue Cross of Idaho. The insurance company refuses to pay the bill for the chemotherapy drug, Avastin.  It may prolong the life of a victim of stage four colon cancer for an additional three months.  According to the New York Times the cost will be about $8,300 per month.  It seems to be OK, in the minds of many people, for insurance companies to make these decisions but many people object to a government committee making the decisions. Why? What is the difference?

A better solution to this would have been a single payer system like Medicare.  The plan that has been adopted (Patient Protection and Affordable Care Act) is one that was proposed many years ago by Republicans.  It is the Massachusetts plan that was implemented by Mitt Romney.

Canada and most European nations seem to have addressed the issue of health care.  Care is available for everyone.  I am certain there are situations that their health care plans do not cover. Considering America is listed as the 41st in child mortality with the highest health care cost of any nation on Earth says we are doing a lousy job.  Quite shocking when we consider that the USA is the wealthiest nation on earth.

Marrying Attractive Young Women

Men who are old but famous and rich can marry anyone they want.

Hilaria Thomas
Hilaria Thomas

The latest is Alec Baldwin.  He is 54 and his new bride is his attractive 28 year old yoga instructor, Hilaria Thomas.

He is not the first star to marry someone half his age or close to that number.  Consider Michael Douglas, age 68.  His wife is Catherine Zeta-Jones, age 42.

This desire to marry attractive younger women is not only those in the entertainment community.  Consider Alan Greenspan born in 1926.  His lovely wife is Andrea Mitchell (American television journalist, anchor, reporter, commentator, for NBC News) born in 1946.

From futurescopes.com

Australian media mogul Rupert Murdoch, born 1931, split from his wife Anna after a marriage of 32 years and three children  together.  Barely seventeen days after his divorce, Murdoch tied the knot with the Chinese-born Wendy Deng, born 1968, who had been newly appointed as the Vice President of Murdoch’s Star TV network and is almost 38 years his junior.

Greek shipping magnate, Aristotle Onassis married Jacqueline Kennedy, widow of U.S. President John F. Kennedy, on October 20, 1968. This was a second marriage for both and at the time Onassis was almost sixty while Jacqueline was thirty-nine.

My thing is attractive young red-heads.  However, limited funds and loving my wife limits my options. My wife knows this but she will be dark brown until the day she dies.  It’s worth her visit to the hair dresser every six weeks.

Supreme Court Chief Justice John Roberts Surprises Everyone

ObamaCare Lives

John Roberts
John Roberts

How could Chief Justice John Roberts have voted with the liberal justices in favor of Obama care? Charles Krauthammer has written a piece for the National Review contending that the “Commerce Clause contained, constitutional principle of enumerated powers [has been] reaffirmed.”  “Law upheld, Supreme Court’s reputation for neutrality maintained.”  He suggests that Roberts was more concerned with the Court’s reputation than the outcome of this case.  I disagree.

George Will, also writing in the National Review offered similar analysis.

We may never know Roberts’ thinking.  Considering the far reaching consequences of his (Roberts) decision I cannot believe that he would not be more concerned with the impact this law will have on almost every American.

John Roberts said the law was legal under the right of the Federal government’s power to tax.  The Obama administration denied the penalty against the non-insured is a tax.  Roberts obviously had to search out his justification for voting in favor of the law.  It must have come as a great surprise in the White House when they heard Roberts’ reasoning.

One thing is obvious.  The media proved that even their smartest commentators could not conjure the outcome nor explain the logic of John Roberts.

Religion or Government – Which Laws Prevail?

Does the First Amendment permit religions to ignore secular law?

Dick Van Dyke
Dick Van Dyke

I was watching a Diagnosis Murder television show this evening.   You may recall that is the Dick Van Dyke program where he plays a doctor who solves crimes. In this particular episode a Catholic priest refuses to tell anyone including the police who committed a murder.  His reason is that his knowledge is the result of a “confession.”  I was astonished that he held the position that he is sworn to keep all confessions private.

Then I Google the question, “Can Catholic priests reveal confessed crimes to the police?”  Apparently I am mis-informed; it is an accurate fact that “confessions” are never to be revealed.  Perhaps that explains the reason that priests who are child abusers were not reported to the police.  The priests simply “confessed” their sins.

We all know how that turned out.  Still, the laws regarding religion seem to disregard society’s right to law enforcement.

If you are an Orthodox Jewish family and a relative dies under suspicious circumstances the law requires an autopsy.  Will an autopsy be preformed against Jewish law?

How will America’s response to Sharia Law be handled?  I contend that when religious law conflicts with government law, the government prevails.  How will the Supreme Court handle this?

The War of 1812

I am glad the Canadians won the fight.

According to History.com “The War of 1812 produced a new generation of great American generals, including Andrew Jackson, Jacob Brown and Winfield Scott, and helped propel no fewer than four men to the presidency: Jackson, John Quincy Adams, James Monroe and William Henry Harrison.” 

This was a war between England and the U.S.   Canada was a colony.  The U.S. did not see itself at war with Canada.  It was a war with the British Empire.  Americans learn in school that the war was about British attempts to restrict U.S. trade and to a lesser extent a continuation of the American Revolution.  For us Americans the fight settled the question of America’s independence from Great Britain.

Canadians in Ontario seem to want to celebrate their victory over American forces.  Johns Hopkins University professor Eliot Cohen supports this view. He writes in his just-published book Conquered Into Liberty that, “ultimately, Canada and Canadians won the War of 1812.”

 Americans don’t want to be bothered celebrating that war.  The only thing Americans gained was the “Star Spangled Banner.”  It is a terrible song that celebrates the flag.  “America the Beautiful” or “God Bless America” are far better songs that celebrate everything that is good about this country.

Interestingly it is Canada that has shown more openness than the United States on the subject of accepting all people equally.  Read the Toronto Star newspaper and you learn more about the world than reading many American newspapers.  Walk down the streets of Toronto and you have the feeling you are in the United Nations.  Or is it my imagination?  No, I don’t think so.  There really is a feeling of acceptance that is difficult to find elsewhere.