Money status – Church Of God Anonymous http://churchofgodanonymous.org/ Tue, 10 May 2022 20:01:01 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://churchofgodanonymous.org/wp-content/uploads/2021/06/icon-2021-06-25T213907.443.png Money status – Church Of God Anonymous http://churchofgodanonymous.org/ 32 32 Colombia seeks Abrams tanks as part of new ally status with US https://churchofgodanonymous.org/colombia-seeks-abrams-tanks-as-part-of-new-ally-status-with-us/ Tue, 10 May 2022 19:08:54 +0000 https://churchofgodanonymous.org/colombia-seeks-abrams-tanks-as-part-of-new-ally-status-with-us/ SANTIAGO, Chile — Colombia has asked the United States to procure used Abrams M1A2 tanks to bolster the armored capability of its ground forces, local military sources tell Defense News. Colombia is currently on its way to becoming a major non-NATO ally of the United States, with President Joe Biden announcing in March that the […]]]>

SANTIAGO, Chile — Colombia has asked the United States to procure used Abrams M1A2 tanks to bolster the armored capability of its ground forces, local military sources tell Defense News.

Colombia is currently on its way to becoming a major non-NATO ally of the United States, with President Joe Biden announcing in March that the process had begun.

The Colombian army currently has no main battle tanks. The main armored vehicle in its inventory is the Brazilian-made Engesa EE-9 Cascavel, a six-wheel-drive armored truck equipped with a 90 mm gun, 123 of which were purchased in the 1980s.

Plans to purchase at least 50 main battle tanks were unveiled about 20 years ago. The country’s focus on modernizing and diversifying its conventional capabilities comes after decades of prioritizing equipment and training to fight terrorism, insurgencies and drug trafficking.

One of the factors behind these efforts is the tension with neighboring Venezuela, a country which over the past two decades has invested heavily in buying modern military equipment from Russia and China. , including T-72B1V main battle tanks and Sukhoi Su-30 fighter-bombers.

Colombia is also looking for a new advanced fighter-bomber to replace its Israeli-built Kfir jets which are nearing the end of their life. The Lockheed Martin F-16 – both used and new build advanced Block 70 versions – are under consideration.

The Colombian Defense Ministry did not respond to a request for comment and military sources spoke to Defense News on condition of anonymity as they were not authorized to speak to the press.

The status of a major non-NATO ally of the United States will allow Colombia to receive special treatment with regard to American financial assistance and access to surplus equipment. It would also help Colombian President Iván Duque fulfill a promise he made in 2018 to modernize the armed forces.

Closely aligned with the United States since the 1940s, Colombia received $10 billion in US military aid between 2001 and 2016 to fight insurgents and drug trafficking, according to the US State Department. In 2017, Colombia became NATO’s first global partner in Latin America, and in 2021 it signed a new agreement deepening and expanding cooperation with the alliance.

Colombia is the second biggest defense spender in South America, behind Brazil, helped by the expansion of its economy which has seen gross domestic product grow by 36% since 2012, according to Robin Brooks, chief economist at the Institute of International Finance.

More on earth
How the Pentagon is harnessing 5G for future combat
The Department of Defense’s 5G strategy is written with a sense of urgency: Nations “that master advanced communications technologies and ubiquitous connectivity will have long-term economic and military advantage,” reads its unclassified public pages.
Why the Army CIO wants data upgrades now
“You could have the best weapons systems in the world, you could have the best military in the world,” said chief information officer Raj Iyer. “But our advantage in the future will be the quality and speed with which we will be able to synthesize” the data and share it.

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The Crypto Brothers Descend on ‘Silicon Bali’ https://churchofgodanonymous.org/the-crypto-brothers-descend-on-silicon-bali/ Sat, 07 May 2022 10:00:01 +0000 https://churchofgodanonymous.org/the-crypto-brothers-descend-on-silicon-bali/ With its ocean views and resorts, Bali has long attracted surfers and vacationers. Today, it is also a top destination for crypto enthusiasts around the world. Among the recent arrivals is Ilia Maksimenka, a 33-year-old Russian blockchain entrepreneur, who came to the Indonesian island in 2020, shortly after the Covid-19 outbreak. “It’s very easy to […]]]>

With its ocean views and resorts, Bali has long attracted surfers and vacationers. Today, it is also a top destination for crypto enthusiasts around the world.

Among the recent arrivals is Ilia Maksimenka, a 33-year-old Russian blockchain entrepreneur, who came to the Indonesian island in 2020, shortly after the Covid-19 outbreak.

“It’s very easy to meet the right people,” he says. “As far as Southeast Asia goes, Bali is like the [international] crypto hub now.

While the pandemic has dampened international tourism, the rise of working from home has also prompted many to reconsider their comfort of living in cities that have traditionally been business hubs. For Maksimenka, who comes from Moscow, Bali was an exotic alternative.

“When you come to Bali, you have maybe 10 times cheaper living than in California. But you have the same level of comfort and much higher quality of food. People prefer to come here and experience the tropical life” , did he declare.

In Bali’s expat community, who like to describe themselves as “digital nomads”, crypto is a common interest. On social media, many brag about the fortunes they’ve made trading cryptocurrency in sunny villas, while friends muddle through cramped apartments at home.

Tokocrypto office in Jakarta, Indonesia © Dimas Ardian/Bloomberg

“[We’re] Work in [these] hippie places. And you’re starting to see Lamborghinis,” said Emilio Canessa, an Italian who works in marketing for the internet computer, a project by blockchain firm Dfinity. “The caliber of people here. . . It’s crazy.”

“They started calling this place Silicon Bali,” he added.

Tokocrypto, an Indonesian crypto exchange, says it now has 37,660 registered users in Bali, up from just 808 at the start of 2021. Members of the Bali crypto community that the Financial Times spoke to had a variety of interests, including trading cryptocurrency, non-fungible tokens, metaverse and decentralized finance. But most recent arrivals fit a particular mould.

“It’s very heavy for the men. White men, people in their early twenties,” said Antria Dwi Lestari, who works in community engagement for Tokocrypto in Bali.

As more of these young men from around the world flock to Bali in search of the crypto dream, companies have spotted an opportunity. This year, Tokocrypto launched T-Hub, a “crypto clubhouse” in Bali with a co-working space and a swimming pool. Indodax, another Indonesian crypto exchange, has its second office on the island. Canessa suggested his company establish a “community-focused cultural presence.”

At the same time, other businesses in Bali are struggling. Up to 80% of the island’s economy relies on tourism, a source of income that has come to a virtual halt during the pandemic.

The influx of crypto-migrants will not compensate for this loss of income. According to Bali’s statistics office, only 51 tourists visited the island last year, compared to more than 6 million a year before the pandemic. Parts of the island have been practically emptied.

Members of the crypto community are not blind to the local businesses struggling around them. Last year, an anonymous group launched Bali Token, a crypto token. According to its website, it can be used as a “discount voucher” at “any tourist spot in Bali”, helping “millions of[s] of Balinese. . . staying strong during Covid-19”. The token’s value has fallen nearly 100% since its January peak, according to data provider CoinMarketCap.

Up to 80% of Bali’s economy relies on tourism © Sonny Tumberlaka/AFP/Getty Images

Separately, an online petition has called on the Indonesian government to create a “remote worker visa” to boost the “digital and creative economy” as Bali battles tourism drought. It has been signed by 3,416 people since its launch two years ago.

The petition says that without specialized permits, remote workers in places like Bali often have ambiguous legal status.

Maksimenka suggested that many posts about Bali on social media should be treated with skepticism.

“Most of those golden kids who tried to show off their riches [on social media], they are usually scam artists,” he said. Only about 10% of Bali’s crypto community are “serious about technology”, he added, while the rest “just jump on the hype” and try to make money.

Mega Septiandara, an Indonesian who works remotely for a Bali investment company, also suggested that not every expat should be on the island long-term.

“I have a job and that’s how I stay alive. Crypto is cool. I get a good side income out of it,” she said.

But others are “trying to make a fortune”, she added. “Some are having a little trouble and have decided to return to their country of origin. [They] maybe find it a bit boring in Bali. After a while, it’s just, ‘Oh, it’s the beach.’ »

Video: Highlights from the FT Summit on Crypto and Digital Assets | FT live

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Monitoring migrant flows in Tapachula and Tenosique, Round 1 (March 2022) – Mexico https://churchofgodanonymous.org/monitoring-migrant-flows-in-tapachula-and-tenosique-round-1-march-2022-mexico/ Thu, 05 May 2022 11:38:19 +0000 https://churchofgodanonymous.org/monitoring-migrant-flows-in-tapachula-and-tenosique-round-1-march-2022-mexico/ Tapachula (Chiapas) and Tenosique (Tabasco) are the main cities receiving migrants on Mexico’s southern border. 2021 saw a record number of migrants entering Mexico through the southern border according to the Mexican Commission for Aid to Refugees (COMAR), which reported 89,636 applications for recognition of refugee status in Tapachula and 7,153 applications in Tabasco. However, […]]]>

Tapachula (Chiapas) and Tenosique (Tabasco) are the main cities receiving migrants on Mexico’s southern border. 2021 saw a record number of migrants entering Mexico through the southern border according to the Mexican Commission for Aid to Refugees (COMAR), which reported 89,636 applications for recognition of refugee status in Tapachula and 7,153 applications in Tabasco. However, the National Institute for Migration (INM) reported only 19,273 foreigners documented as permanent residents for refugee recognition nationwide. At the same time, the INM granted 87,174 visiting cards for humanitarian reasons (TVRH) during the year 2021, of which 20,364 were issued in Chiapas and 1,499 in Tabasco, mainly for humanitarian causes, offended person, victim or witness to crime and refugee claimants.

Access to health services shows differentiated behavior between cities as migrants in Tapachula receive care mainly in government health centers while in Tenosique NGOs are the main way to access medical services. On the other hand, the main barriers that people who were unable to access medical services in both cities said they encountered were lack of information and lack of money.

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Nonprofits likely under fire as Senate explores ‘dark money’ | USA News® https://churchofgodanonymous.org/nonprofits-likely-under-fire-as-senate-explores-dark-money-usa-news/ Tue, 03 May 2022 15:12:00 +0000 https://churchofgodanonymous.org/nonprofits-likely-under-fire-as-senate-explores-dark-money-usa-news/ By DAN PARKS of The Chronicle of Philanthropy, Chronicle of Philanthropy A Senate hearing on Wednesday is expected to produce fireworks as Republicans and Democrats clash over the role foundations and nonprofits play in the election. The Senate Finance Subcommittee on IRS Taxation and Oversight offers no description of the hearing beyond the title “Laws […]]]>

By DAN PARKS of The Chronicle of Philanthropy, Chronicle of Philanthropy

A Senate hearing on Wednesday is expected to produce fireworks as Republicans and Democrats clash over the role foundations and nonprofits play in the election.

The Senate Finance Subcommittee on IRS Taxation and Oversight offers no description of the hearing beyond the title “Laws and Enforcement Governing the Political Activities of Tax-Exempt Entities.” Even the witnesses who will testify are unsure of its purpose. It seems likely that subcommittee chair Sen. Sheldon Whitehouse would like to raise concerns about “dark money” flowing through 501(c)(4) nonprofits, but Republicans plan to expand the scope of the hearing to highlight what they consider to be illegal political activities in 501(c)(3) charities and foundations.

Contributions to 501(c)(4) welfare organizations, unlike 501(c)(3) charities, are not tax deductible and therefore these organizations are permitted to engage in a range much broader political activities.

One of the witnesses at the hearing, Ann M. Ravel, a former chairwoman of the United States Federal Election Commission who now teaches at the University of California at Berkeley Law School, said she will discuss his concerns about the movement of 501(c)(4) money from organizations to political action committees with little oversight or public awareness as to the source of those funds.

political cartoons

“There is a lack of accountability which is problematic,” Ravel said.

However, witnesses who were asked to testify by committee Republicans had a very different perspective, saying it was short-sighted to focus on fundraising for political action committees when, according to them, the real abuses occur at some 501(c)(3) associations and foundations.

Scott Walter, president of the Capital Research Center, a conservative group that monitors philanthropy and political donations, said he was told there was no specific legislation related to the hearing. Walter said he intends to argue that the abuse of 501(c)(3) charities crossing the line into partisan activity is a much bigger problem than 501(c) “dark money” ( 4) on which Whitehouse intends to focus.

He highlighted Facebook co-founder Mark Zuckerberg and Priscilla Chan’s $400 million commitment during the last election cycle to promote access and voter integrity. Walter said the vast majority of those funds were spent in strongly Democratic districts, which violates the federal prohibition on spending tax-deductible charitable contributions in a manner that “intends or has the effect of to benefit a candidate or a party”.

Groups like the New Venture Fund have faced similar scrutiny from conservatives; he pursues a wide range of progressive policies in areas like climate change and gender equity, and he regularly receives large donations from people like Jeff Bezos, MacKenzie Scott, Melinda French Gates, and Mark Zuckerberg and Priscilla Chan and foundations like Ford and MacArthur.

Arabella Advisors, a for-profit advisory firm that provides advice to wealthy donors and foundations, has also drawn the ire of conservatives, who say it helps its nonprofit clients push the boundaries of acceptable activities for charitable organizations that enjoy the benefits of tax exemption. contributions.

Several states across the country have sought to ban outside groups from contributing financially to the administration of local elections.

Brad Smith, founder of the Institute for Free Speech, who will testify at the hearing at the invitation of Republicans, said he believes Democrats are exaggerating the problems with black money flowing to committees political action while ignoring the fact that many 501(c)(3) charities engage in a wide variety of activities that can influence elections or politics. For example, charities are allowed to run voter registration drives that target certain areas, do some lobbying and do advocacy work to raise the profile of certain issues they care about, said Smith.

“I’m very cynical about the audience because I view the audience as somewhat cynical,” Smith said.

Meanwhile, people on the left have taken aim at Charles Koch, a longtime supporter of conservative charities. These concerns left and right have prompted policymakers to spell out clearer rules on how charities can use their funds when it comes to election-related activities.

Another witness called to testify is Philip Hackney of the University of Pittsburgh School of Law, who questioned whether private foundations should retain their preferred tax status due to what he sees as widespread abuse of this. privilege.

Whitehouse is a leading advocate for legislation that would require organizations spending money on elections, including 501(c)(4) groups and political action committees, to disclose donors who give $10,000 or more during an election cycle. Whitehouse also expressed concerns about the use of “dark money” to groom and promote conservative candidates for federal judgeships, including the Supreme Court.

The offices of Whitehouse and Sen. John Thune of South Dakota, the lead Republican on the Senate subcommittee, did not respond to calls or emails seeking comment on the hearing.

This article was provided to The Associated Press by the Chronicle of Philanthropy. Dan Parks is editor of the Chronicle. Email: dan.parks@philanthropy.com. The AP and the Chronicle are supported by the Lilly Endowment for coverage of philanthropy and nonprofits. The AP and the Chronicle are solely responsible for all content. For all of AP’s philanthropy coverage, visit https://apnews.com/hub/philanthropy.

Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Washington County residents seek financial assistance for tornado recovery https://churchofgodanonymous.org/washington-county-residents-seek-financial-assistance-for-tornado-recovery/ Sat, 30 Apr 2022 06:06:41 +0000 https://churchofgodanonymous.org/washington-county-residents-seek-financial-assistance-for-tornado-recovery/ SPRINGDALE — About 30 residents have applied for financial assistance to restore their homes after a March 30 tornado. Representatives from the U.S. Small Business Administration and the Arkansas Division of Emergency Management set up their Disaster Outreach Center at the Springdale Recreation Center on Tuesday. The Division of Emergency Management reports that 30 people […]]]>

SPRINGDALE — About 30 residents have applied for financial assistance to restore their homes after a March 30 tornado.

Representatives from the U.S. Small Business Administration and the Arkansas Division of Emergency Management set up their Disaster Outreach Center at the Springdale Recreation Center on Tuesday.

The Division of Emergency Management reports that 30 people had applied for grants as of Friday afternoon, said LaTresha Woodruff, spokeswoman for the agency.

Colby Fulfer, chief of staff for the city of Springdale, said about 165 homes were damaged by the storm.

The small business office provides long-term, low-interest loans of up to $200,000 for damage to homes and $40,000 to replace assets, according to information provided by the administration.

The state division offers grants to residents whose loan applications are rejected.

The center will be open to residents today and Monday to Saturday next week. The deadline to apply for state assistance is May 6. The deadline to apply to the Small Business Administration is June 2.

Woodruff and Rick Tillery, a spokesman for the Small Business Administration, suspect that those 30 people sought help from both agencies at the same time.

The small business loan process takes about two weeks, Tillery said. And the state division will hold the request until the status of the loan is determined, Woodruff said.

The law requires people affected by disasters to go first to the Small Business Administration in all cases, Tillery said. He expected to see a few more people asking for help depending on the size of the tornado, Tillery said.

Woodruff and Tillery believe more people applied online or by phone.

Woodruff said the damage was localized and concentrated in certain areas, unlike other disasters his agency works on.

Small Business Administration assistance is available in Benton, Crawford, Madison and Washington counties in Arkansas and Adair County in Oklahoma, according to an administration press release.

Assistance may include home repairs, cleaning, household debris removal and repair of personal property. Businesses, second homes, vacation homes, vehicles, sheds and outbuildings are not eligible for this program, Woodruff said.

Applicants must submit several documents to request assistance, including name of landlord or tenant, address of damaged home, phone number, insurance information, social security number, and a detailed description of the damage , Woodruff said.

On April 15, Governor Asa Hutchinson declared Washington County a disaster due to damage from the EF-3 tornado.

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Companies seek to diversify retirement investments as funding levels soar https://churchofgodanonymous.org/companies-seek-to-diversify-retirement-investments-as-funding-levels-soar/ Thu, 28 Apr 2022 13:24:10 +0000 https://churchofgodanonymous.org/companies-seek-to-diversify-retirement-investments-as-funding-levels-soar/ In recent years, companies have invested a greater proportion of their plans in fixed income securities, which are considered safer values ​​than assets such as stocks, commodities, private equity and capital. ‘real estate. S&P 1500 companies invested 51% of their plan funds in fixed income in 2021, up from 50% a year earlier and 42% […]]]>

In recent years, companies have invested a greater proportion of their plans in fixed income securities, which are considered safer values ​​than assets such as stocks, commodities, private equity and capital. ‘real estate. S&P 1500 companies invested 51% of their plan funds in fixed income in 2021, up from 50% a year earlier and 42% a decade earlier, according to advisory firm Mercer LLC.

This, combined with stock market volatility, led to lower investment returns. The 100 largest U.S. pension plans generated average returns of 8.3% in 2021, compared to 14.6% in 2020 and 19.5% in 2019, consultancy Willis Towers Watson PLC said. Fixed income securities such as US Treasuries and high quality corporate bonds generally offer little yield.

Today, a small but growing number of companies are considering adding higher-quality private debt to their fixed-income portfolios, which offers some kind of middle ground, pension advisers said. Others, however, stick to traditional fixed income investments.

“As companies look to continue to profit from their programs, they are looking to pull every possible lever,” said John Delaney, senior director and portfolio manager at Willis Towers Watson.

Investment grade private credit instruments are bonds that corporations and other entities issue to investors outside of public markets. They offer a higher yield than some other fixed-income securities, but are generally less volatile than stocks, Delaney said.

Motorola Solutions Inc. is one of the companies exploring this path. The Chicago-based communications equipment provider plans to invest approximately $100 million in investment-grade private loans over the next two to three years, in addition to the $50 million it has deployed since 2019, said Chief Financial Officer Jason Winkler. The company plans to include private credit to help boost its returns and diversify its portfolio, Winkler said.

“We’ll continue to look for opportunities there, but our path to $150 million is the current allocation we’re comfortable with,” Winkler said. Motorola said its US pension plan was 81% funded at the end of 2021, up. 78% a year earlier.

Motorola’s retirement assets in the United States totaled $4.08 billion in 2021, up 13.4% from a year earlier, according to a regulatory filing.

The company said it had allocated 58% of its plan’s investments to fixed-income securities – mostly corporate bonds – by the end of 2021, similar to the previous year. Motorola’s returns on private credit last year exceeded those on its public fixed-income assets, Winkler said.

Sponsors of defined-benefit pension plans, which promise fixed payouts to retirees, increased their investments in private placements by 25% in 2021 from a year earlier, according to client data from the investment arm of Voya Financial Inc., which manages $268 billion in assets. The company declined to provide the monetary value of these investments.

“Private placement ticks all the boxes for this return,” said Oleg Gershkovich, pension liability strategist at Voya. The investment grade government bond market issued about $1.7 trillion last year, while the private placement market issues about $100 billion a year, according to analysis by Voya.

The expected return on investment-grade private credit is about 0.50 to 1% higher than on public credit instruments, said Matt McDaniel, partner at Mercer.

But the market is less liquid than its public credit counterpart, which means it can be more expensive to invest, McDaniel said. Indeed, private credit investors need to do more due diligence and negotiate transaction-specific credit protections.

“The two main benefits are slightly higher yield and increased portfolio diversity,” said Russ Ivinjack, chief investment officer at professional services firm Aon PLC, referring to private credit.

Funding levels for company pension plans have soared since the early days of the coronavirus pandemic in 2020, when they fell from the year-ago period. Defined-benefit plans had an overall funded status of 100% at the end of March, up 5 percentage points from a year earlier, Mercer’s review of S&P 1500 companies showed. This is the highest since May 2008.

Yields on long-term corporate bonds, also known as discount rates in the retirement world, are expected to climb this year as the Federal Reserve continues to raise interest rates. This would further increase funding levels. Higher interest rates mean companies have to set aside less capital to fully fund their obligations, as the present value of future pension payments declines. Better funding will likely lead companies to make more fixed-income investments, advisers said.

Duke Energy Corp. will consider moving more assets into its fixed-income portfolio as its plan’s funding level increases, a spokeswoman said. The Charlotte, North Carolina-based utility said its pension plan had a 60% allocation to fixed-income assets at the end of 2021, up from 55% a year earlier. The utility does not use higher quality private credit, the spokeswoman said.

Duke, whose plan was 112% funded at the end of last year, invests in high-quality corporate and Treasury bonds to offset fluctuations in the size of its liabilities, the spokeswoman said.

Aluminum producer Alcoa Corp. would invest in more fixed-income assets if the funded status of its U.S. plan, which already exceeds 100%, were to continue to grow, Chief Financial Officer William Oplinger said. The Pittsburgh-based company said last year it allocated 58.7% of its investments to fixed-income securities, up from 43.7% a year earlier.

“We invest in a wide variety of medium- and long-term U.S. government and high-quality corporate credit instruments in our liability hedging portfolio,” Mr. Oplinger said, adding that the company does not invest money. money in high quality private credit instruments. .

This story was published from a news agency feed with no text edits

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Wrangell Assembly to Hold Public Hearing on Proposed 30% Water Rate Increase https://churchofgodanonymous.org/wrangell-assembly-to-hold-public-hearing-on-proposed-30-water-rate-increase/ Tue, 26 Apr 2022 23:18:01 +0000 https://churchofgodanonymous.org/wrangell-assembly-to-hold-public-hearing-on-proposed-30-water-rate-increase/ Wrangell Wastewater Treatment Plant.(Wise Smiley / KSTK) The Wrangell Assembly is considering a 30% increase in the water rate. Elected leaders say they fear the community will not be able to meet its water infrastructure needs, even if households pay an extra $14 per month for water. Listen to this story here. As Wrangell prepares […]]]>
Wrangell Wastewater Treatment Plant.
(Wise Smiley / KSTK)

The Wrangell Assembly is considering a 30% increase in the water rate. Elected leaders say they fear the community will not be able to meet its water infrastructure needs, even if households pay an extra $14 per month for water.

As Wrangell prepares to install a new $15 million drinking water treatment plant, he must also shore up funds to cover the debt the community will take on.

Last month, Wrangell’s elected leaders approved a 21% rate increase for sewer rate – an increase of approximately $10 per month for a household. This sewer rate increase will be set next week (May 1).

But how much to increase the water tariffs became a sticking point for the assembly.

At the April 12 assembly meeting, assembly member Dave Powell said he did not want to do the bare minimum with a rate hike and would only raise rates enough to cover the $3.8 million federal loan the borough will take out to help fund the water plant. . Wrangell’s utility funds — called enterprise funds — are meant to be self-sustaining. Right now they are not. There is not enough money to cover all the projects.

“Here we’re stuck because we’ve never – as a city, as assemblies that were before us, the administration before us, never looked at the raises. And now we’re stuck here [raising rates]”Powell said.

For years, utility rates in Wrangell haven’t kept up with the rising cost of everything else. Powell therefore proposed a 30% increase in the water rate, or just over $14 more on a household’s water bill each month.

“We’ve been pushing this down the road since I’ve been in the assembly and asking for a one-penny, two-penny raise,” Powell said. “I know it’s going to hurt everyone. I don’t like to see rates go up. But our rates haven’t gone up. We’ve done rate studies, we’ve done all kinds of things, and here we’re trying to do ‘status quo’ on a loan and not go anywhere else. And I’m sorry, people might be mad at me for that, but it’s just not a good deal.

Wrangell needs to save money for other water-related projects beyond the water treatment plant, such as replacing water pipes, Powell said. Mayor Steve Prysunka agreed. Additionally, the mayor said many in the community have enjoyed below-average rates for decades.

“I haven’t had any bill increases for 25 years, basically, so I had the benefit of saving that money,” Prysunka said. “That’s where I come from – I was able to save money on my water bill and on my electric bills and all those bills for 25 years.”

Powell also told his fellow Assembly members that he wanted the government to be more responsible for assessing rates each year.

“We have to be responsible enough to watch it – or the next assembly – be responsible and listen to the people here who are sitting in this audience saying, ‘Hey, we have to raise the tariffs to get to where we [need to be]Powell said, “And right now they’re telling us that and if you ask me, I don’t feel like we’re listening to our company funds.

Assemblyman Patty Gilbert expressed concern about the general financial climate for residents with rising interest rates and other recent rate increases.

“I feel for the community because we not only need to look at the health of our company’s funds, but we also need to look at the health of our community’s financial climate,” Gilbert said.

If water rates are going to increase 30%, Gilbert said, something else should give, or at least be increased at a lower rate year over year.

“The only thing the taxpayer can change in their household is their electricity usage, all of these other rates are fixed,” Gilbert explained. “And I don’t know what the average property tax increase was. […] But I’m only concerned about the economic situation of the community. I really feel for some households.

The borough’s chief financial officer, Mason Villarma, told KSTK in an interview that regardless of the rate increase approved by the assembly, one conclusion is that the government and administration must annually review the health of community self-sustaining utility funds.

“I think the main key here is that whatever happens, the rates have to be settled every year, so it’s not a shock, and there’s no ‘band-aid scam’ for the community. “Villarma said. .

From the finance department’s perspective, if the borough assembly passes a 30% rate increase on Tuesday (April 26), Villarma says it will model future rate increases that are much smaller — just to track inflation, basically, “Until I have another indication or a better reason that a member of the assembly gives us to project ourselves otherwise,” Villarma continues. “So I think it can generally be the community’s point of view on things.”

Villarma says all of the recent rate increases, code changes and investment policy updates are intended to put Wrangell on a stronger footing for future planning.

“If one of our corporate funds is not profitable, that doesn’t make my job very easy because I can’t really model negative profit, and [say] “Here are the expenses that we are going to tackle in the future,” says Villarma. “[These rate increases give] we have the tools to say, ‘Okay, we have a plan, our plan is to be profitable, our plan is to invest in the community, so here’s how it’s going to be.’

With this financial clarity, Villarma says the assembly, borough director and department heads will be able to run the borough more efficiently, with a long-term plan. Villarma says he hopes community members see the rate increases as an investment in the community’s financial future for years to come.

The Wrangell Assembly will hold a public hearing at 6 p.m. Tuesday (April 26) on the proposed rate increase. Sign up to speak at the meeting on the sign-up sheet at Town Hall. Letters can also be submitted in person at City Hall or by email to clerc@wrangell.com.

Contact KSTK at news@kstk.org or (907) 874-2345.

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Labor pledges to scrap tax relief for non-dom https://churchofgodanonymous.org/labor-pledges-to-scrap-tax-relief-for-non-dom/ Sun, 24 Apr 2022 21:37:41 +0000 https://churchofgodanonymous.org/labor-pledges-to-scrap-tax-relief-for-non-dom/ Next Labor government would scrap no-dom status used by the wealthy to lower their tax bills, party says The Independent. The decision comes later The Independent revealed that Rishi Sunak’s wife, wealthy businesswoman Akshata Murty, had used non-domicile status to minimize her UK tax bill and exposed alleged links between Mr Sunak and offshore trusts. […]]]>

Next Labor government would scrap no-dom status used by the wealthy to lower their tax bills, party says The Independent.

The decision comes later The Independent revealed that Rishi Sunak’s wife, wealthy businesswoman Akshata Murty, had used non-domicile status to minimize her UK tax bill and exposed alleged links between Mr Sunak and offshore trusts.

The Chancellor, as well as most cabinet ministers, declined to say whether they directly or indirectly benefited from non-dom status or the use of tax havens.

Labour’s Shadow Chancellor Rachel Reeves said: ‘While the Tories are raising taxes on working people, it is simply not fair that those at the top can benefit from outdated non-dom tax benefits.

“With Labour, people who move to the UK will contribute to this country by paying tax on their overall income.”

Rachel Reeves says the rich shouldn’t get ‘non-dom tax benefits’

(Getty)

Labor’s decision to scrap non-dom status adds to pressure on the government amid the growing cost of living crisis and Partygate scandal that threatened to overshadow the prime minister’s trip to India last week, ahead of UK local elections in May.

Ms Reeves said: ‘The Prime Minister and Chancellor have spent the last few weeks preoccupied with saving their own skins and done nothing to combat the spiraling cost of living.

“Worse still, they made it harder for workers to make ends meet by increasing National Insurance.”

The opposition party has also announced that it will now review the use of trusts hidden overseas and in tax havens to avoid paying tax in the UK, as part of a wider review of the UK tax system started in September last year.

Labor decided to drop non-dom status because it failed a value-for-money test, as the party says it likely costs more in lost revenue than it generates. It would replace non-dom tax status with a mechanism similar to those in Germany or Canada that also allows temporary residents to avoid domestic tax on overseas income.

“It would be a clear, simple and modern system, ending the 200-year-old rules we currently follow that the average domicile is passed down through people’s fathers, without needing the four complicated flowcharts that HMRC uses to determine the someone’s home,” a Labor Party spokesman said.

The government’s current policy is a “bizarre disincentive to investment in the UK”, Dan Neidle, tax lawyer at Clifford Chance, said on Twitter. He estimates that removing the special status would generate hundreds of millions of pounds in new tax revenue.

Four in 10 people who earned £5m or more in 2018 have claimed non-dom status at some point, academics from the London School of Economics and the University of Warwick have found in a recent study. This has been a lively political issue in recent years, with a conditional 15-year limit imposed on tax relief introduced in 2017.

However, if a non-dom sets up a trust overseas before their status expires, they can still receive the tax relief through that trust after the 15-year limit is reached. This is one of the reasons why the Labor Party has also announced that it will review the use of tax havens and offshore trusts.

Mr Sunak, as Chancellor, is responsible for setting UK tax policy. He referred his financial statements for scrutiny by independent adviser on ministerial interests, Lord Geidt. After a spokesperson initially defended her use of non-dom tax status relief, Ms Murty announced she would no longer use non-dom status on her tax return. However, she has not waived the possibility of using it in areas such as inheritance rights.

In a statement posted to Twitter earlier this month, Mr Sunak said: ‘I have always followed the rules and hope such a review will bring more clarity.’ A source close to the Chancellor said they do not acknowledge the allegations and documents seen by The Independent which showed that Mr Sunak was listed as a beneficiary of offshore tax havens in 2020.

Some senior Treasury officials claimed to have offered advice on decisions relevant to non-dom status and tax havens, but were not told about the chancellor’s ties to those issues. However, sources close to Mr Sunak said top Treasury figures were aware of the matter, in order to manage possible conflicts of interest.

Former Chancellor and current Health Secretary Sajid Javid released a statement confirming he had also used non-dom status, after The Independent revealed Ms Murty’s use of the tax relief.

In response to the announcement of Labour’s new policy, a UK Treasury spokesperson said: ‘We want to attract talent to work and live in the UK, but it is only fair that those who choose to live here for long pay their fair share of taxes. , which is why we reformed the rules in 2017 to end permanent non-dom status.

“Non-doms play an important role in funding our public services through their tax contributions – worth over £6billion a year.”

Labor’s review of the use of trusts and tax havens will also look at how to expand beneficial ownership registers and tax reporting regimes “to provide transparency around offshore trusts”. It will also try to force the government to confirm the full extent of the offshore trust and how much it costs the state, by limiting the scope of UK taxes, a spokesman said.

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HMRC locks taxpayers out of their online accounts | Money https://churchofgodanonymous.org/hmrc-locks-taxpayers-out-of-their-online-accounts-money/ Sat, 23 Apr 2022 06:00:00 +0000 https://churchofgodanonymous.org/hmrc-locks-taxpayers-out-of-their-online-accounts-money/ JThousands of people, including pensioners and the self-employed, cannot file their tax returns or claim refunds online, after HMRC changed the way taxpayers log into its services. Until last month, they could access the accounts after registering through Gov.uk Verify, a government service that allows users to confirm their identity using a UK driving license […]]]>

JThousands of people, including pensioners and the self-employed, cannot file their tax returns or claim refunds online, after HMRC changed the way taxpayers log into its services.

Until last month, they could access the accounts after registering through Gov.uk Verify, a government service that allows users to confirm their identity using a UK driving license or credit records. However, last month HMRC unexpectedly withdrew from service.

As a result, people can now only access tax accounts through Government Gateway, requiring them to hold two acceptable identification options from a list including a UK passport, recent payslip or P60, a tax credit statement or a Northern Ireland driving licence.

HMRC advises those who cannot provide the required documents to submit their tax return on paper and call its helpline for information on their tax status.

Louise Wadley, who is self-employed, says she is no longer able to complete an online self-assessment form because she was banned from the account she previously had access to by Verify.

“I don’t have a UK passport and my driving license was issued in England, not Northern Ireland, so I can’t pass the first stage of Government Gateway,” she says.

“The very helpful HMRC call center agent I spoke to was unaware of the change and advised me to file my return by post, even though they are trying to reduce the number of paper returns .”

Gov.uk Verify was launched by the Cabinet Office in 2014 to allow users to access government services from a single account.

To register, users provide their details to one of two approved organisations, the Post Office and a company called Digidentity, which check and verify their identity.

The aim was to register 25 million users by the end of 2020. However, HMRC developed a competing authentication system in 2017 and last year the Cabinet Office announced that its flagship system would close in April 2023.

HMRC’s decision to remove Verify a year earlier appears to have caught its staff and users off guard.

The government’s Verify Login and Advice websites continued to list it as a portal to HMRC services until a week after its removal, until Guardian Money intervened.

The Driver and Vehicle Licensing Agency (DVLA), which holds the driver records used for verification, initially told the Guardian that HMRC would use the system until next year.

The 2023 deadline announced by the Cabinet Office was to allow time to develop an alternative system, but HMRC appears to have abandoned Verify with no back-up plan.

HMRC’s decision to remove Verify a year earlier appears to have caught its staff and users off guard. Photograph: Kirsty O’Connor/PA

He told Guardian Money he was working to increase the range of acceptable ID, but he could not yet accept a UK driving license because the DVLA would not allow him access to its database. .

According to the DVLA, officials only requested access last month and processing of the documents is still ongoing.

To compound the problem, technical issues prevented many users from logging into Government Gateway and, until March, advisers on HMRC’s community forum directed them to Verify instead.

The decision will impact pensioners and young people who do not have employer payslips, as well as foreign nationals who cannot provide a UK passport.

Loïc Baron, who is French, has been trying to set up a tax-free childcare account, using the HMRC gateway, since moving to the UK in 2020.

“Checking in requires a UK passport, which I don’t have,” he says. “I had to apply over the phone, with many calls and a wait of about half an hour, as a ‘digitally excluded’ person. As a software engineer, I find it hard to believe that I fall into this category.

Derek Mullins* says his 17-year-old daughter hasn’t been able to correct her tax status because she doesn’t have the required ID.

“She was overtaxed by several hundred pounds and the HMRC website told us that to fix this we needed to set up Government Gateway access for her,” he says.

“A passport and Northern Ireland driving license are required. As we live in England of course she was unable to oblige.

The Low Incomes Tax Reform Group says the change will have a significant impact on many users. “Removing the Verify option is not helpful given that there are still issues with Government Gateway that need to be resolved,” a spokesperson said. “The results of this decision seem somewhat at odds with HMRC’s move towards digital.”

HMRC told Guardian Money that those unable to access their accounts online could settle their cases via its helpline – despite an automated message warning callers of busy lines and long wait times – or by letter .

This month it was revealed that HMRC had only responded to 52% of correspondence within 15 days of receiving it in February, compared to 88% before the pandemic.

HMRC says: ‘Most customers can deal with us online safely and we are continually looking at how we can increase accessibility to Government Gateway without reducing protections.

“We are always offering alternate ways for customers to access our services when they cannot use Government Gateway.”

*Name has been changed

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10 JAY-Z Lyrics That Taught Us How To Achieve Billionaire Status https://churchofgodanonymous.org/10-jay-z-lyrics-that-taught-us-how-to-achieve-billionaire-status/ Thu, 21 Apr 2022 13:53:16 +0000 https://churchofgodanonymous.org/10-jay-z-lyrics-that-taught-us-how-to-achieve-billionaire-status/ By now the world knows that JAY-Z, a man considered hip hop’s true GOAT, is a billionaire. According to Forbes, 2019 saw him keep close to $300 million in real estate, cash, and various holdings. Add companies like TIDAL, D’Ussé and Roc Nation, plus his own music catalog, and you have a man who is […]]]>

By now the world knows that JAY-Z, a man considered hip hop’s true GOAT, is a billionaire. According to Forbes, 2019 saw him keep close to $300 million in real estate, cash, and various holdings. Add companies like TIDAL, D’Ussé and Roc Nation, plus his own music catalog, and you have a man who is able to maintain permanent wealth in his bloodline. One can only imagine how much those numbers have grown since then.

During a sit-down in 2010 for CNN Business to promote his book Decoded, JAY-Z gave advice on becoming a tycoon in America. Besides what he learned during his tenure on the streets, Hov revealed that many of his decisions are based on what he’s loved all his life:

“Do things that are true to you. Most of the things I’m involved in are an extension of my creativity. Roc-A-Wear is a clothing company, part of who you are in hip hop is your attitude and what you try to express, how you dress. I loved sports growing up, I grew up in a family where sports were open 24/7. these [are] all the things that are comfortable for me.

The truth is, JAY-Z has been providing gems when it comes to making money and becoming financially strong since the preliminary stages of his eventual rise to power. Below is a compilation of classic lines delivered by the Brooklyn-born icon that gives listeners insight into how he joined the ranks of Tyler Perry, Michael Jordan and Oprah Winfrey. As the man himself best describes:

I’m not a businessman I’m a business man…”

1. “Can I live” – Reasonable doubt1996

“It’s true, the streets teach us to spend our money insanely, to bond with jewelers and watch out for intruders, I’ve taken it to another level, meditated like a Buddhist, recruited lieutenants with dreams ridiculous to get cream, let’s do this…”

Years ago, JAY-Z told “The Breakfast Club” that Reasonable doubt was his biggest album because “it’s the joint [he] taken [his] whole life to do. It was also the album that contained evocative stories about JAY-Z’s life before rap success, a mix of vivid Marcy Projects stories and cinematic tales straight out of the mob era. On the remarkable “Can I Live” produced by Irv Gotti, Hov delivers a slew of lines near the end of the song that seem to emphasize two different messages:

  • The importance of understanding the stereotypes that our communities and people face when it comes to money management, and
  • Make sure you build a strong team that shares your goals and aspirations.

2. “Rap game/crack game” – In My Life, Vol. 11997

“When it’s hot, step on my silver spot in every state, like the Wiz in Camelot, mom and pop is the door, but first we lookin’ for shit, advertise all the way , let the devils know, hey, we got some dope shit, gon’ need a middle man, so we turn to the radio…”

Like some of its equally legendary peers, this In My Life, vol. 1 standout saw JAY-Z use the lessons he learned while making money on the streets to maximize his chances of success in the music industry. Continuing further into the effort produced by Stevie J and Buckwild, JAY even rapped about some of his toughest moments amid his journey to the finish line, especially regarding his clashes with some deal. distribution during the Reasonable doubt time:

“I went from an eighth to a quarter to a half key, Priority work wasn’t good so I changed the factory, now I’m the new nigga, who thought I’d lock the game , now watch how your cocaine drop prices…”

3. “You don’t know” – The plan2001

“…if someone had told them that Hov would be selling clothes, not in this life, it wasn’t in my right mind, that’s another difference between me and them, I enlighten myself, I opens the market…”

The plan Outstanding “U Don’t Know” sees JAY-Z open up about his success in drug and rap games. What makes the above lines so poignant is the fact that he decided to create his own brand instead of patronizing others – a decision that many entrepreneurs have implemented after realizing that ‘they could create their own product to generate endless revenue. In this case, Roc-A-Wear was making $700 million in annual sales at its peak, which led to a takeover of Iconix for over $200 million in cold hard cash. Simply put, the benefits of starting your own clothing brand are basically explained on the effort supported by Just Blaze immediately after:

“1 million, 2 million, 3 million, 4, in 18 months, 80 million more, now add that number up with the one I said before, you’re now looking at a smart black boy…”

4. “Show you how” – The Blueprint²: the gift and the curse2002

“Pay your taxes, y’all niggas hustling upside down…”

“Show You How” is another Just Blaze classic that sees Hov in full professor mode, advising listeners on weak raps, choosing vehicles and (for the ladies) making the most of questionable relationships. What might be the most important line of the entire track is JAY-Z’s stern instruction regarding the IRS — a lesson that peers like Fat Joe, Lauryn Hill and the late Biz Markie learned the hard way.

5. “Moment of clarity” – The black album2003

“…I can’t help the poor if I’m one of them, so I got rich and gave back, for me it’s a win-win…”

It’s crazy how, at the time, we all thought that would be the last time we would receive a JAY-Z album. As such, it was no surprise to hear just how much thought and knowledge went into the 14-song effort, which – as Reasonable doubt and The plan – is widely regarded as one of the greatest bodies of work in JAY-Z’s catalog.

On the Eminem-produced “Moment of Clarity,” JAY-Z can be heard reflecting on all the decisions he made to reach this point in his career. As can be seen in the lyrics above, he also revealed that achieving financial freedom wasn’t just for his own enjoyment – to this day, he makes sure to pass on his blessings to the less fortunate in various ways, providing scholarships for children through the Shawn Carter Foundation to bail out protesters at the height of the Black Lives Matter movement. All in all, raising your own is just as important as getting rich.

6. “30 something” – kingdom come2006

“I don’t buy the bar, I bought the nightclub, I have the right stock, I have stockbrokers moving like white tops…”

As most of us know, JAY-Z’s comeback album was filled with themes of maturing into someone who had separated from what had become popular among young artists at the time. A perfect example of this is the Dr. Dre-produced “30 Something,” which sees him rapping about everything he does differently than others – from toning down his brilliance to allowing his team to deal with issues that could otherwise get him in legal trouble. When it comes to financial advice, the bar above is one of the best tips – why spend all your money on someone else’s establishment when you can raise money by opening your own ?

7. “No hook” – american mobster2007

“Own boss, own your masters, your slaves, the mentality that I carry with me to this day, fucking rich, let’s get rich, who else is going to feed us?”

Inspired by Denzel Washington’s portrayal of drug dealer Frank Lucas, JAY-Z delivered one of his most impactful albums with american mobstera concept that (with the help of Diddy and The Hitmen) saw cinematic flashes of Mafia motifs reminiscent of Reasonable doubt. In the above line of the Diddy, Sean C and LV backed “No Hook”, JAY-Z once again stresses the importance of owning your own “product” – in this case, being in control of your catalog of music. Later in the song, he also lets the listener know that whatever goal you’re trying to achieve needs to put in the work:

“Hustle ‘caine, hustle the clothes or hustle the music, but hustle hard in any hustle you choose…”

8. “So ambitious” – Plan 32009

“The world doesn’t like us, isn’t that clear? Ok, but I’m different, I can’t base what I’m gonna be on what everyone else isn’t, they don’t listen, whisper right behind my back, no vision, lack of ambition , so dumb! ”

If you really need some inspiration, look no further than “So Ambitious,” produced by Pharrell Williams, which immediately begins with JAY-Z recounting an unfortunate experience with a teacher. Despite what this educator said, he worked hard to improve his situation – even with the obstacles in front of him as a black man from the so-called ghetto. He reiterates this in the line above, making sure to let listeners know not to allow the outside world – be it the powers that be or others who find themselves in a similar situation – to stop your progress towards Success.

9. “Jo’s story” – 4:442017

“I could have bought a house in DUMBO before it was DUMBO for about 2 million dollars, this same building is worth 25 million dollars today, guess how I feel? Dumbo…”

Obviously, the biggest draw of JAY-Z’s latest solo effort was based on him being transparent about his infidelities as well as his intention to get better for his wife Beyoncé and their children. Other than that, songs like “The Story of OJ” are full of lines about how he continues to build his financial wealth — so much so that this song alone could have its own article. That said, bars like the one above show how much he regrets even the financial decisions made at this point in his life. As seen below, he also rapped about how his artistic investments alone solidified the safety nets of Blue Ivy, Rumi and Sir…

“I bought art for 1 million dollars, 2 years later this shit is worth 2 million dollars, a few years later this shit is worth 8 million dollars, I can’t wait to give this shit away to my children…”

10. “Entrepreneur” (with Pharrell Williams), 2020

“Only us, stop sitting around waiting for people to throw a bone at you, if you can’t buy the building, at least stock the shelf, then keep stacking until you stock up for yourself… »

A few years ago, Pharrell connected with his longtime collaborator for the single “Entrepreneur”, which – as the title suggests – sees the two giants talking to black men about overcoming racial adversities and social ills. to become successful businessmen. JAY-Z made sure to focus on that by also reminding the target audience that no handouts are coming and they need to be assertive to achieve all of the goals.

The accompanying visual for “Entrepreneur” (below) is also remarkable given that it spotlights a variety of men and women who have apparently followed much of the advice JAY-Z and his peers tell us. have given over the past few decades – advice that is sure to see many follow in the billionaire’s golden footsteps.

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