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Luis Miguel Goitizolo

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RE: ARE WE NOW IN THE END TIMES?
10/6/2016 5:29:04 PM

Syrian army warns rebels and families to leave eastern Aleppo






The sun sets over Aleppo as seen from rebel-held part of the city, Syria October 5, 2016. To match Insight MIDEAST-CRISIS/SYRIA-ALEPPO REUTERS/Abdalrhman Ismail

BEIRUT: Syria's army has said that anybody who remains in the city of Aleppo after offering those who wish to leave an opportunity to do so would face their "inevitable fate".

A statement issued late Wednesday said the army had cut off insurgents' supply lines into the northern city and that it had accurate information about the location of all their positions and arms stores. It urged all fighters there to lay down their arms and leave.

Earlier Wednesday, the army said it was reducing its airstrikes and shelling of rebel-held eastern Aleppo to alleviate the humanitarian situation and allow people to depart for safer areas if they wanted to do so.

The army, backed by Shi'ite militias from Iraq and Lebanon, as well as Russia's air force, began an offensive against eastern Aleppo on Sept. 19 after the collapse of a week-long truce. The offensive began with one of the war's most intense bombardments.

The scale of destruction in Aleppo since the offensive began has prompted mounting international concern and caused the United States to break talks with Russia on attempting to renew a ceasefire.

The army and its allies have made some territorial gains in the northern part of Aleppo since the offensive began and have also opened fronts in the city center and in the south.


(dailystar.com.lb)

"Choose a job you love and you will not have to work a day in your life" (Confucius)

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Luis Miguel Goitizolo

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RE: ARE WE NOW IN THE END TIMES?
10/6/2016 5:51:07 PM
Why thousands of millionaires don’t pay federal income taxes



The tax code allows real estate developers or managers to use special tax breaks and benefits that the rest of us can’t. Here’s how that works.
(Daron Taylor, Sarah Parnass, Danielle Kunitz, Lisa Rein, Kelsey Snell/The Washington Post)


Tax documents obtained by the New York Times show that Donald Trump declared a massive net operating loss of $916 million in 1995, enough to allow him to avoid paying federal income taxes for up to 18 years. The documents shed light on provisions in the U.S. tax code that allow wealthy individuals to avoid income tax payments even in years when they make millions.

In 1995, Trump declared $3.4 million in business income, $7.4 million in interest income, and close to $100,000 in income from other sources such as dividends, taxable refunds and wages. But this income was more than offset by hundreds of millions of dollars in reported losses from real estate and "the financial wreckage he left behind in the early 1990s through mismanagement of three Atlantic City casinos, his ill-fated foray into the airline business and his ill-timed purchase of the Plaza Hotel in Manhattan," according to the Times.

About 46 percent of all tax filers (individuals or households) pay no federal income taxes each year because of various exclusions. High-income tax filers make up a tiny portion of that number, but they are by far the biggest beneficiaries. More than half of the tax revenue lost to the most common tax exclusions stays in the pockets of the richest one-fifth of Americans, according to an analysis by the Congressional Budget Office.

While it's rare for high-earners to pay no federal income tax, it's not unheard of. In 2011, for instance, about 433,000 tax filers with incomes over $100,000 paid no federal income tax, according to estimates based on limited IRS data by the Tax Policy Center, a nonprofit think tank. That number includes approximately 4,000 filers with an income of $1 million or more.

The wealthy and poor households that paid no income tax in 2011 did so for drastically different reasons. Most low-income filers — those with a pretax income of $20,000 or less — who paid no tax did so because of the basic structure of our progressive tax system, which determined they made just enough to cover family expenses, or less.

Many also benefit from the Earned Income Tax Credit, which offers a refund to low- and moderate-income workers. That cost the government about $61 billion in forgone tax revenue in 2013, according to the CBO.

By contrast, high earners who paid no tax were primarily able to do so because of a wide array of other special provisions in tax law. Roughly 1,000 of the 4,000 millionaire non-payers in 2011 did so because their income that year was locked away in individual retirement accounts not subject to federal taxes, according to Roberton Williams of the Urban Institute, one of the authors of the Tax Policy Center analysis.

At an annual cost of $137 billion annually, the tax exclusion for pension contributions was more than twice as expensive as the Earned Income Tax Credit.

Another significant chunk of the 4,000 high-income non-filers made their money from interest on municipal bonds, which is not subject to federal income tax. Reduced tax rates on capital gains were also one of most costly federal tax provisions: $161 billion.

Calculating the cost of the 10 largest tax expenditures — the exclusions, deductions and credits allowed through the tax code — the 2013 CBO report found that the top quintile of earners were the biggest beneficiaries.

The CBO report didn't include "net operating loss" in its calculation of top tax expenditures. But as Trump shows, it can be a major boon.

People like Trump who work in real estate can use real estate losses to offset gains or income from elsewhere, according to Williams. For real estate developers, "your business is such that you're more likely to generate losses in the short run, and [the government] is going to allow you a way of deferring your taxes while you're in a losing situation," Williams said.

But, he added, often times "these are paper losses, not real losses." The tax code allows property owners in the real estate business to claim losses from things like depreciation even if the property itself is gaining market value.

Williams says these provisions are not necessarily problematic or harmful on their own, and that they weren't created with the intention of allowing wealthy people to avoid paying taxes indefinitely. But the complexity they add to an already-complex and massive tax code can erode people's trust in the fairness of the tax system.

"Right now we have an extremely complex tax code that literally nobody understands," Williams said in an interview. "That's not right. The reasons that isn't right is not so much that the provisions themselves are wrong, but rather that we don't understand why we're paying what we do."

This complexity can lead to suspicion of wealthy non-taxpayers, like Trump. And it can just as easily lead to suspicion of low-income people who don't pay tax either.

"HALF of Americans don't pay income tax despite crippling govt debt," Trump tweeted in 2012. Left unsaid was that for at least part of his career, Trump was one of them.



Christopher Ingraham writes about politics, drug policy and all things data. He previously worked at the Brookings Institution and the Pew Research Center.
Follow @_cingraham




(The Washington Post)


"Choose a job you love and you will not have to work a day in your life" (Confucius)

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Luis Miguel Goitizolo

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RE: ARE WE NOW IN THE END TIMES?
10/6/2016 6:33:57 PM
Attention

Hurricane Matthew sends Florida into panic as 'direct hit' and 'massive destruction' expected

© NOAA
Hurricane Matthew is making its way towards the US, sending Floridians into a panic and rushing to finish last minute preparations before it strikes. Staple products have long been claimed by shoppers as officials warn of a "direct hit on Florida."

Matthew, a deadly Category 3 storm, is currently moving northeast through the Caribbean and is expected to make landfall on the Atlantic coast of Florida by Thursday evening or early morning on Friday.

The National Hurricane Center has issued an advisory at 11p.m. Wednesday, saying that Matthew was moving northwest near 10 mph (17 km/h) with maximum sustained winds reaching 115 mph (185 km/h).

"Strengthening is expected during the next 24-36 hours, and Matthew is forecast to be a category 4 hurricane as it approaches Florida," the NHC said.

The Central Florida coast is potentially at highest risk, with Flagler and Volusia counties bracing for a direct hit. Both hurricane and tropical storm warnings have been issued for Florida's coastline, stretching from Miami to the Volusia county line, which includes Fort Lauderdale, West Palm Beach, Cape Canaveral and Daytona Beach.


A mandatory evacuation has been in place in Florida since Wednesday, ordering residents living on the beach side, low-lying areas and RV and mobile-home park to seek safety and shelter.

"This is a dangerous storm and it is never too early to evacuate," Florida Governor Rick Scott said Wednesday, warning of"massive destruction that we haven't seen in years."

"You must leave before it's too late," he added. "We have to prepare and assume we will have a direct hit by this catastrophic hurricane."

President Obama had a similar message.

News of Matthew's landfall has stepped up awareness among residents all along Central Florida, with people rushing to stores.


Necessities such as water, bread and gas have been claimed by shoppers preparing for the worst. Shelves with batteries and flashlight have also been emptied.

In the Orlando area, where Matthew is not expected to strike as hard, worry has nevertheless spread just as severely.

South Carolina, North Carolina and Georgia are also expecting tropical storm and hurricane conditions to arrive by Friday morning and lasting through Saturday afternoon. States of emergency have been issued for counties in all three states.

South Carolina Gov. Nikki Haley has issued evacuation orders for the coastal counties of Charleston and Beaufort, which affected over 200,000 residents.

Hurricane Matthew has swept through Cuba and Haiti, where at least 22 people have been killed.

Matthew flattened homes and left a trail of destruction in the Dominican Republic, where four people have died.


Comment: After unusually forming very close to the equator, Matthew has already caused severe damage in Haiti and Cuba. Meanwhile in the Pacific, Typhoon Chaba has set new records in South Korea. Just over one week ago an 'unprecedented' stormresulted in the entire state of South Australia (inhabited by more than 1.7 million people) losing power


(sott.net)

"Choose a job you love and you will not have to work a day in your life" (Confucius)

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Luis Miguel Goitizolo

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RE: ARE WE NOW IN THE END TIMES?
10/7/2016 10:32:47 AM

Matthew hammers Florida, begins dayslong beating of coast

MIKE SCHNEIDER and KELLI KENNEDY, Associated Press


Hurricane Matthew approaches Florida on Oct. 6.

Photographer: GASTON DE CARDENAS/AFP/Getty Images


(Bloomberg)




"Choose a job you love and you will not have to work a day in your life" (Confucius)

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Luis Miguel Goitizolo

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RE: ARE WE NOW IN THE END TIMES?
10/7/2016 2:53:02 PM

TEMPERATURE OF EARTH REACHES HIGHEST LEVEL IN 115,000 YEARS

A former NASA climate scientist says the "young people's burden" is spreading like cancer.

BY ON 10/4/16 AT 11:23 AM


Satellite Imaging Is Using Data To Prevent Climate Change And May Be Even War

The temperature of our planet has reached the highest level in 115,000 years.

A paper entitled “Young People's Burden: Requirement of Negative CO2 Emissions” by James Hansen, a former senior NASA climate scientist, and 11 other experts, claims the global temperature has just reached a level similar to that in the interglacial (Eemian) period, 115,000 to 130,000 years ago, when Earth’s sea level was several meters higher than today.

As a result, glaciers and ice sheets are melting, the oceans are acidifying and rising seas will engulf coastal cities worldwide in the coming centuries.

Temperature earth
Sunset approaches in Los Angeles, California, August 25, 2012. A paper states that global fossil fuels emissions are continuing at an alarming rate leading to the temperature of the planet reaching its highest level in 115,000 years.FREDERIC J. BROWN/GETTY

“The assumption that young [people] will somehow figure out a way to undo the deeds of their forebears has crept into and spread like a cancer through United Nations climate scenarios,” the paper states.

Research shows that the rapid rise of global temperature—beginning in around 1975—continues at a rate of about 0.18°C per decade. The growth rate of climate change, due to human-caused greenhouse gases, increased over 20 percent in the past decade.

The paper states that as global fossil fuels emissions are continuing at a high rate, a burden is being placed on young people to undertake “massive technological CO2 extraction.”

Despite widespread recognition of the risks posed by climate change for decades, Hansen’s paper claims $104 trillion to $570 trillion will be required to combat the problem over the coming century.

The paper was submitted as a discussion paper to the Earth System Dynamics journal.

(Newsweek)

"Choose a job you love and you will not have to work a day in your life" (Confucius)

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