...stricter gun laws, yet there is nothing directly targeting the greatest issue at hand: keeping any and all weapons, especially those of mass destruction, out of the hands of the mentally ill and people with a history of violence. Today, anyone can walk into a gun show and purchase an assault rifle, or any other weapon for that matter, without having to go through any kind of criminal or mental background check. This loophole in America’s current gun laws grants access to weapons to those not capable of owning one. In order to ensure that violent or mentally ill people do not have access to weapons of mass destruction, the US government should work to eliminate the gun show loophole....
Words: 624 - Pages: 3
...There are loopholes in gun sales that need to be closed therefore laws need to be tightened. In the article “Gun Show Loopholes Should Be Closed,” it talks about how gun shows and selling firearms create unique marketplaces because of the different types of sellers. Secondly, it talks about how each type of seller creates loopholes and how they each create an act of crime when selling. Lastly, the article talks about the secret investigation that occurred, the results of that investigation, and the solutions to that investigation. The article “Gun Show Loopholes Should Be Closed” acknowledges an ATF (Bureau of Alcohol, Tobacco, Firearms, and Explosives) report that states, “30 percent of guns involved in federal illegal gun trafficking investigations...
Words: 389 - Pages: 2
...Six months ago I wrote a report titled “How to Hack the Stock Market”. The report is just 62 pages long but it explains a specific stock market loophole I use to make roughly $10,000 a month. After first writing the report I sold it to experienced traders from an online investing community. Within weeks some of the traders were exploiting the loophole and making thousands of dollars. Because of that success I decided to create this website and sell the report online. I apologize for the short quiz I just had you fill out... I only want to teach this strategy to those who will actually put it to use. If someone couldn’t answer those simple questions, they will not have the drive or motivation to make this work. I could write a killer ad for my report. I could fill it with testimonials from successful students and even show you proof of my earnings. But I’m not going to do that – I hate those late night infomercials more than anyone else I know. Instead, I’m just going to let you read Chapter 1 of my report. (I’ve reproduced it below). But first, I need to tell you something. Some of my friends and clients laugh at the title of the report. I mean, I admit "How to Hack the Stock Market" is a little kitsch. But I called it that because... My report won't teach you about "life". I'm not gonna bore you with mindless drivel about personal finance and achieving your dreams. If you want that stuff buy 'Rich Dad Poor Dad'. Or any of the other "get rich quick" books...
Words: 2938 - Pages: 12
...Jingwa Pan Introduction US corporations has been using loopholes to minimize their tax reported annually, however, recently president Obama have claimed that some actions should be taken to avoid those corporations taking advantages of these loopholes in tax regulations which have helped them avoid tax duties. Corporations’ taking advantage of such tax duties can cause unexpected results. Other hardworking corporations and individuals may have sense of unfair. This report will analyze the problems that exists about those corporations escape tax duties using the loopholes of tax regulations as well as an explanation on President Obama’s new claim about tax returns. Problem statement Inversions are transactions in which a U.S. company merges with a foreign company overseas to lower its tax burden.(citation 1) So far, tax avoiding corporate inversions lowers companies’ tax bills by allowing them to redomicile overseas even though their core operations and management usually remain in the United States. (citation 2) This is a loophole in tax regulation that corporations will take advantage of it by reincorporate overseas while lawmakers haven’t notice about it. A lot of investors and entrepreneurs has been looking for a good way to reduce the tax duties as much as possible. Since the U.S. has one of the world’s highest top rates which is 35%, although effective rates everywhere can be substantially lower depending on tax breaks and other incentives, the U.S. also is one of the...
Words: 673 - Pages: 3
...Accounting and its role in society Accounting is concerned with collecting, analysing and communicating economic information (Atrill & McLaney, 2004, p1). However in order to develop a broader understanding of accounting and the central role it plays in society, we need to consider it from a social perspective. Individuals in society coexist by establishing relationships with each other. Another way of viewing society is by segmenting it into different groups or arenas, for example the social, economic, organizational and political arenas (Kyriacou, 2007, Lecture 1, p4). In order to function effectively, these different arenas need to communicate and it is accounting information that facilitates this communication. According to Kyriacou (2007, Lecture 1, p5) accounting information serves many important purposes, for example assisting users in making informed decisions, in relation to the effective allocation of scarce resources. Therefore accounting information can be seen to be a potent influence in society, which affects everybody. This is illustrated by the National Coal Board case (Cooper et al, 1985, p10) were the measurement of accounting profit was used to justify the closure of coal pits, causing an impact on electricity prices, jobs and taxes. Accounting has a long history and as demonstrated by Hines (1988, p251-261) it is seen as being socially constructed i.e. it is practised by people for people and therefore it is more of an art rather than a science. Unlike...
Words: 2244 - Pages: 9
...Case #1 Question #1. The ethical issue in this scenario is that Linda would give Bill an unfair advantage in the interview if she gave him the interview questions. Giving Bill the questions would not give the interviewer the correct first impression of Bill and may give the interviewer a false picture of Bill's qualifications. Question #2. Instead of Linda giving Bill the interview questions she could simply give him a brief, verbal overview of what to expect. She should not be specific in what questions they may ask. Because Linda will be a reference for Bill she can give an recommendation to the interviewers about him before he has an interview. Linda can also tell Bill to study and research the company so he is prepared. Case #2 Question #1. The ethical issue in the this scenario is that Violet could easily take a computer for her son and only send 11 computers to the elementary school. These transactions are not kept on record so Violet would be able to do it without anyone noticing, provided the school doesn't know how many computers they should be receiving. Question #2. Instead of Violet jeopardizing her job she could go to her son and explain the situation. Let him know that getting a computer for him is very hard on her own and ask he if could pitch in to help. If her son got a job and used some of his pay to help out it would be easier for Violet to buy a computer. Also, Violet does not have to a buy a brand new computer. There are many ways for her buy...
Words: 738 - Pages: 3
...Expansion of the H1-B Exploitation: More Cheap Labor and Outsourcing? The H1-B visa program has so many loopholes that it should be undergoing reform instead of expansion, since expansion would only promote further abuse of the program. Tech companies asking for expansion state that they have labor shortages and need to recruit the best and the brightest. One would assume that the best and the brightest would be paid at least as much as their American counterparts. However, Norman Matloff’s research has found that H1-B workers are actually paid, on average, 6% less than their comparable American counterparts. His research also found that the foreign workers’ talent was less than, or at best equal to, that of American workers. These findings makes one question whether there is a labor shortage and a need for the best, or if tech companies are simply using the visa program for cheap labor. Another concern are consulting companies that bring in offshore consultants. These companies are allegedly using the visa to bring workers to learn skills and then off-shoring the service. Ron Hira, a professor of public policy at the Rochester Institute of technology, has been studying how consulting firms use the visas to help American company cut costs. He says, “What these firms have done is exploit the loopholes in the H-1B program to bring in on-site workers to learn the jobs [of] the Americans to then ship it back offshore.” Indeed, information on Molina payroll indicates that offshore...
Words: 334 - Pages: 2
...bonuses to the executives lead to their financial misreporting. • How greedy auditors colluded to misrepresent financial statements. 3. How collapse of Enron could have been prevented. • Did the relevant act negligently abetting in the corporate collapse. • How loopholes in financial laws can be exploited • How the investors were blinded by quick gains preventing them being cautious when investing. • How over speculation can lead to huge loses. 4. Lessons from the collapsed corporation. • Lesson that were taught to the policy makers and the investing public from the collapse. • Lessons that the collapse taught other corporations. 5. Conclusions and recommendations. 1. Historical background of the collapsed Enron corporation • How the corporate was founded and its growth • The corporate culture of the collapsed corporation. 2. What caused the collapse of Enron • How bonuses to the executives lead to their financial misreporting. • How greedy auditors colluded to misrepresent financial statements. 3. How collapse of Enron could have been prevented. • Did the relevant act negligently abetting in the corporate collapse. • How loopholes in financial laws can be exploited • How the investors were blinded by quick gains preventing them being cautious when investing. • How over speculation can lead to huge loses. 4. Lessons from the collapsed corporation. • Lesson that were taught to the policy...
Words: 646 - Pages: 3
...Grad Papers Beichen Qin 8727085856 Abstract Last year the most successful I.T. Company Apple has caught a national wide focus. This time is not because they held a conference for new iphone or any i-products, but because their tax planning. As a model company, Apple always create amazing products, we can see their products all around the world, so many newspapers and magazines praise their design teams and marketing teams. These time their Tax team was enjoying the annoyance, after the news related Apple’s tax strategy open to the public there were a lot of argument around them. Some people thought they break the Tax laws, some people believe the Apple was clean, and some people thought Apple’s approach is immorality. In this paper, I will explain the approach which Apple use to avoid tax, show some supporting codifications and regulations about this approach, and analysis whether this approach is lawful. At last, I will show my view point about this issue. 1. Explain the approach which Apple use to avoid tax. 1) Basic knowledge Apple is one of the largest international company in the U.S., they create billions of profit a year and become the most successful I.T. Company in the world. Apple sell their products all over the world, at same time, they also have some subsidiary companies overseas to help them avoiding tax. The approach for Apple Inc. to avoiding the huge tax is very complex, and need several special requirements. The main profits Apple earned are from...
Words: 2726 - Pages: 11
...officers are make bonuses and profits when they show how well a company is doing. Their own personal greed is the only thing that concerns them no matter how well the company is doing. It might be several top executives involved to just a couple of individuals, however the people who pay for their unethical decisions are the stock holders, employees and the public. The Sarbanes-Oxley Act was enacted July 29, 2002 and was named after U. S. Senator Paul Sarbanes and U. S. Representative Michael G. Oxley. According to CNNMoney March 24, 2010 a report by McGuffin a highly readable 2000 page report, Lehman Brothers has been accused of using an accounting loophole to massage its books, and they question whether regulators can anticipate or prevent malfeasance. The idea of Sarbanes-Oxley was to stop people from finding and using loopholes in accounting and increase transparency within...
Words: 438 - Pages: 2
...Week One Assignment Research Notes Children’s Internet Protection Act, 2000 Federal Communications Commissions: Federal law created by the Congress to address concerns about viewing offensive sites in school and library computers. Early 2001, CIPA regulated rules and requirements for certain schools and libraries that are eligible to receive funds. These rules and regulations are towards those who receive funds through E-rate- a program that makes certain communication technologies more affordable. CIPA states that: 1) Schools and libraries may not receive funds unless internet and computer has a child safety measure program. Also, this facility must hold one public meeting to address the proposal. 2) Schools under the CIPA must enforce internet monitoring for minors. 3) Schools and libraries subject to CIPA are required to adopt and implement an Internet safety policy addressing: (a) access by minors to inappropriate matter on the Internet; (b) the safety and security of minors when using electronic mail, chat rooms and other forms of direct electronic communications; (c) unauthorized access, including so-called “hacking,” and other unlawful activities by minors online; (d) unauthorized disclosure, use, and dissemination of personal information regarding minors; and (e) measures restricting minors’ access to materials harmful to them. Schools and libraries must have safety policies and computers in proper working functions for the minors before receiving E-rate funding...
Words: 533 - Pages: 3
...The United States imposes one of the highest federal corporate income taxes in the world, enticing corporations to outsource where more favorable tax rates lie. Will lowering this corporate tax rate help bring back those jobs to the U.S. and decrease the growing unemployment rate? Some argue yes, while other experts say no. While we argue both sides of this topic, the goal of this paper is to leave you, the reader, with enough facts to form your own opinions to the above question. How The Income Tax Came To Be In order to learn how the current corporate tax rates came to exist, we must first look at the history of the income tax. Although the Revenue Act of 1894 established the principle of taxing corporations separate from their owners, a federal tax on corporate income was never imposed until 1909. The Revenue Act levied a 2% income tax on any incomes totaling more than $4000 in order to make up the lost federal revenue (Dierdrich 2011). In the next year, the U.S. Supreme Court deemed the Act unconstitutional saying it was not allocated according to the population size of each state. How did Congress work around this? With the same principles in mind that lie within the Revenue Act of 1894, Congress passed the Corporation Excise Tax Act in 1909 (2013). Apart from its predecessor, this Act imposed a 1% tax on corporate income totaling more than $5000 (Tax Foundation 2013); however, it wasn’t until 1913 and the creation of the 16th amendment, which allows Congress to levy...
Words: 2427 - Pages: 10
...sit-in on the House floor, recommending the reintroduction of bills on gun control, including universal background checks. The rise in gun-related incidents has caused a reevaluation of existing policies, particularly those surrounding background checks and the so-called gun show loophole. In light of the alarming statistics on gun deaths and the increasing frequency of mass shootings, it is imperative to tighten gun control measures in the United States, focusing on universal background checks and addressing the loopholes that contribute to the easy access of firearms. Universal background checks serve as a crucial component of effective gun control measures. The loopholes, particularly the gun show exemption, allow private individuals to sell firearms without conducting background checks. “This act also codified the so-called gun show loophole, whereby private individuals can sell firearms at a gun show without first conducting a background check. Other private-party gun sales are also exempt from the background-check provision (Gun Control: Guide to Critical Analysis).” Critics argue against stricter background checks, but the evidence from the CDC indicates an urgent need to address these loopholes to curb the rising gun death rate. In response to the escalating gun violence crisis, more than 170 Democratic lawmakers took a decisive stand, staging a day-long sit-in on the floor of the House of Representatives. Their goal was clear: to force the reintroduction of several bills...
Words: 1134 - Pages: 5
...decision makers, the rights of the stakeholders, and the impact of the actions of the options on stakeholders. Identify Stakeholders: According to Businessdictionary.com (2015), “a stakeholder is a person, group, or organization that has interest or concern in an organization” (para. 1). Stakeholders can affect or be affected by changes within the organization such as objectives, issues, problems, and policies. For this organization the stakeholders are consists of employees, directors, owners, suppliers, the community, unions, and creditors. Risks, Issues, Problems, and Consequences: The problem that lies here is that there is a loophole in which those who are not authorized to have personnel access do have it; they are able to see confidential data that they should not be allowed. The issue at hand is that those employees know that there is a loophole, but still took it upon themselves to access those personal records. Employees having unauthorized access to these personnel records pose a risk because of the information that is available. Social security numbers, addresses, and other confidential information can be obtained...
Words: 1074 - Pages: 5
...for these crimes and responsible adults should have the ability to own firearms. Increased gun safety education as well as training is more important to decreasing violence. Restricting the criminals and not the firearms will go further to resolve this issue. Everyone has the right to bear arms as stated in the US Constitution. In January of 2008, President Bush signed a measure to include the criminal mental health records when doing back ground checks (Schumer, 2008). A gentleman bought a gun at a gun show and shot a Priest and parishioner. The man had a history of mental illness. Gun advocates are also trying to close another loophole: unlicensed dealers selling guns at a gun show and not doing the proper background checks. This loophole proves to be dangerous and many unnecessary lives are lost. The N.R.A. would like to work with legislation on the proper laws to put in place at these events while ensuring their 2nd amendment...
Words: 2262 - Pages: 10