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Goldman Showers Execs With Nearly $100 Million In December To Avoid Trump Tax Hit

Goldman Sachs has accelerated nearly $100 million in stock awards to top executives before the end of the year in order to avoid unfavorable changes in the new tax code, according to public filings posted Friday.

The most sweeping overhaul of U.S. tax code in 30 years includes a provision which caps a corporate deduction for executive pay; under current law, corporations can deduct up to $1 million per executive’s base salary, however there’s no cap on deductions for performance-based pay, such as bonuses.

Under the new provisions, both base salary and performance bonuses count towards to $1 million cap – which is why Goldman accelerated $94.8 million in bonuses originally scheduled for January, 2017, reports CNN.

Most of Goldman’s executives received early payouts – including of course, CEO Lloyd Blankfein.

Lloyd Blankfein

Accelerated bonuses aren’t the only thing at least temporarily grinding Goldman’s gears about the new tax code. According to another Friday filing with the SEC, Trump’s “repatriation tax” is going to knock approximately $3.3 billion off its profits in Q4 2017.

[T]he enactment of the Tax Legislation will result in a reduction of approximately $5 billion in the firm’s earnings for the fourth quarter and year ending December 31, 2017, approximately two-thirds of which is due to the repatriation tax.

The repatriation tax is designed to encourage companies like Apple – with their $250 billion offshore cash hoard, to bring trillions of dollars home in exchange for a one-time break on taxes – which were at 35% before the new provisions were signed into law.

Citigroup estimates that US companies hold $2.5tn of capital overseas, with executives justifying the tax-dodge as a measure to look out for shareholder interests.

The remaining 1/3 of Goldman’s $5 billion hit “includes the effects of the implementation of the territorial tax system and the remeasurement of U.S. deferred tax assets at lower enacted corporate tax rates,” making it more difficult for them to deduct past losses from future tax bills.

Barclays estimates this change will cost them around £1 billion ($1.35bn usd).

Barclays said the change had reduced the value of its “deferred tax assets” and would result in an associated one-off charge of about £1bn after tax.

It is expected to drag Barclays’ full-year earnings further into the red. The bank lost £628m in the first nine months of the year due to write-offs related to pulling out of African ventures. –The Guardian

On the bright side, the US corporate tax rate has been cut from 35% to 21% with the new law.

As The Guardian notes, the tax changes were overseen by treasury secretary, Steve Mnuchin – a 17 year Goldman vet who declared the bill to be “great for hardworking workers.”

originally published by ZeroHedge

 

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Gingrich: GOP Setting Up For Massive 2018 Victory As Liberal Pundits Lie And Eat Crow

The liberal media elite has painted itself into a corner of lies, setting the GOP up for a massive victory in 2018, says Newt Gingrich.

In a Fox News op-ed, the former Speaker of the House slams the MSM for flat-out lying to the American public in their attempt to denigrate the Trump administration. Unfortunately for them, Gingrich says, it will be their undoing come midterms.

“As I listened to the end of the year “analysts,” I was struck by how little they know, how little they have questioned their own mistakes, and how mutually reinforcing their false information has been,” wrote Gingrich, adding “These are not analysts. These are liberal propagandists. Much of what they assert is just plain wrong. Fake news is, sadly, an accurate term. And the topic about which they have been the most fake is the GOP’s Tax Cuts and Jobs Act.”

The tax cuts will be the 2018 proving ground of media liberal bias and dishonesty. –Newt Gingrich

In their quest to slam Trump, says Gingrich, the media first lied about the tax bill, convincing Americans that their taxes would go up. Next, they took surveys of people who opposed the GOP bill based on false information.

After that, liberal talking heads slammed the GOP tax plan over and over ad nauseum – talking about how unpopular it was based on their tainted polls, and concluding that it was going to weaken Republican candidates in 2018.

As an example of how bad midterms are going to go for the left, Gingrich pointed to a massive propaganda fail by CBS news in which they interviewed three families to ask how they thought the GOP tax bill would affect them. Then they had a CPA tell them, on camera, what they would actually be paying in taxes next year.

And what do you know – while the liberal hosts and all three families clearly expected to pay more in taxes or not save any money, it turned out that they would all pay less under the GOP tax cuts than under current law.

A North Carolina single mother with an income slightly under $40,000 who didn’t think she would be affected will keep about $1,300 more per year under the GOP bill.

Two college teachers in Rhode Island with a joint income of over $150,000 a year thought they would pay more taxes, but they will actually pay about $650 less under the GOP tax cut.

The biggest surprise in the CBS report was the impact the tax cuts would have on a California couple with three children, a small business, and earning an income of approximately $300,000. The family believed that because California is a high-tax state, that capping state and local tax deductions would really hurt them. Instead, the Tax Cuts and Jobs Act will save them nearly $13,000 in taxes.

The CBS analyst was forced to admit that “every one of the families will have more money in their pocket next year.”

Gingrich says that the “gap between the news media falsehoods and the dramatically better reality of the GOP tax cuts will have three huge effects on the 2018 campaign:

1. The American people will be positively surprised and pleased by the degree to which Republicans kept their word and actually put more money in taxpayer pockets.

2. The news media’s dishonesty will be vivid at a personal level. People will be able to compare their personal experience with the news media’s fake reporting and endless bias. As the truth sinks in, the ability of the liberal media to shape opinion will decline even further.

3. Democrats who voted against the bill will live to regret it as people look at their family budgets and realize Democrats in the House and Senate wanted Washington bureaucrats to have more money, rather than hard-working Americans. This will certainly be a losing proposition for the 10 Senate Democrats up for re-election in states President Trump won in 2016.

In closing, Gingrich states “If Republicans can learn to tell the truth better than the elite media and Democrats lie, the GOP will win an astonishing victory in 2018.”

 

 

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NYU Professor Pushes ‘Gender Pronoun’ Name Tags To Eliminate Classroom ‘Microagressions’

NYU professor Justin Lerner is reportedly encouraging fellow teachers to require their students wear name tags which identify their chosen gender – a suggestion intended to eliminate ‘microagressions’ by people who assume a person’s gender, when in fact said life form has chosen to identify as something different.

Justin Lerner and Anjali Fulambarker. Guess which one is which.

Lerner wrote an 11-page article along with Simmons College Professor Anjali Fulambarker, entitled “Beyond Diversity and Inclusion; Creating a Social Justice Agenda in the Classroom,” which you can rent for 24-hours at the low price of $42.50!

Via Campus Reform

To rid classrooms of microaggressions, their first recommendation for professors involves requiring students to wear ‘name cards with gender pronouns’ so that students ‘can avoid being mislabeled from the 1st day.’

Each week, for the entirety of the semester, students should wear these name tags, which also may help the instructor take attendance by picking up the name tags at the end of class each week,’ they explain.

Other microagressions to avoid so that students aren’t faced with uncomfortable words, are “guys,” “pow-wow,” and “American.”

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CNBC Director Arrested For Peeping On 18-Year-Old Nanny With Hidden Bathroom Cam

A CNBC director has been busted for spying on his teenage live-in nanny, according to the Daily News.

Dan Switzen, 44, was arrested and charged with unlawful surveillance by Pleasantville NY police after his 18-year-old au pair and her two friends, also 18, discovered a hidden camera inside of a tissue box in her bathroom on November 13, according to authorities.

The shocked teenagers took the camera to Pleasantville police just before 8pm that night, which was found to contain incriminating images on the memory card.

“He intentionally installed a video recording device in a tissue box located in his family’s bathroom to surreptitiously view a person dressing or undressing…at a place and time when (the victim) had a reasonable expectation of privacy without (her) knowledge or consent,” –Pleasantville Police

Unlawful surveillance is a class E felony in New York, punishable by probation or up to four years in prison.

Switzen, a New York native, was the director of CNBC’s Power Lunch was formerly the director of CNBC’s Suze Orman show for over a decade. He was released without bail according to his lawyer, Jeffrey Chartier, who said with a straight face: “He’s a very decent family man. I don’t want to litigate these allegations in the press,” adding “We will defend him accordingly.”

Along with Switzen’s work for CNBC, he runs a “beachbody” coaching service with his wife, operating a website – which has been yanked down (but archived) – promoting his fitness business – “Get Fit With Dan.”

“Having my wife as my work ot partner has been a great inspiration. Seeing her work hard and getting results makes me work harder. We push and encourage each other which definitely gets us through the work outs. Working out should be fun and not a chore. By working out together we have enhanced our relationship.” –Dan Switzen

CNBC declined to comment…

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Apple Apologizes For Batterygate – Claims “Would Never” Force Upgrades By Degrading Older Products

After getting busted last week for purposefully throttling its older iPhones, Apple, Inc. issued a second statement on the matter – this time an apology: “We know that some of you feel Apple has let you down. We apologize,” the company said, adding “we have never – and would never – do anything to intentionally shorten the life of any Apple product, or degrade the user experience to drive customer upgrades.

The culprit, says Apple, is degrading older batteries which can’t handle the demands of newer processors. To make up for their throttling, which only came to light after they were BUSTED, the company is now offering the following (full letter below):

  • Reducing the price of an out-of-warranty iPhone battery replacement by $50 — from $79 to $29 — for anyone with an iPhone 6 or later whose battery needs to be replaced, starting in late January and available worldwide through December 2018. Details will be provided soon on apple.com.
  • Early in 2018, we will issue an iOS software update with new features that give users more visibility into the health of their iPhone’s battery, so they can see for themselves if its condition is affecting performance.
  • As always, our team is working on ways to make the user experience even better, including improving how we manage performance and avoid unexpected shutdowns as batteries age.

In early December, Reddit user TeckFire posted a report in the iPhone subreddit, noting that after experiencing a painful slowdown on his iPhone 6S, a brand new battery resulted in significant improvement in benchmark scores – as can be seen in photos posted to the thread:

After testing performed by Geekbench developer John Poole, it was indeed confirmed that iPhones were being throttled to preserve battery life or avoid unexpected shutdowns while the battery degrades.

The Cupertino, CA company responded to the internet sleuths, admitting in a statement “Lithium-ion batteries become less capable of supplying peak current demands when in cold conditions, have a low battery charge or as they age over time, which can result in the device unexpectedly shutting down to protect its electronic components.”

Last year we released a feature for iPhone 6, iPhone 6s and iPhone SE to smooth out the instantaneous peaks only when needed to prevent the device from unexpectedly shutting down during these conditions. We’ve now extended that feature to iPhone 7 with iOS 11.2, and plan to add support for other products in the future,” said the company.

As TechCrunch explained:

Basically, iPhones were hitting peaks of processor power that the battery was unable to power and the phones were shutting off. Apple then added power management to all iPhones at the time that would “smooth out” those peaks by either capping the power available from the battery or by spreading power requests over several cycles. This is clearly shown in Poole’s charts in his post:

Many pointed out how bad it looks for Apple – which has been accused of throttling older phones to make them buy new ones, was caught throttling phones. No matter how legitimate the reason, the fact that they were caught – and forced to admit – is going to fuel conspiracy theories for a while.

To recap: due to battery performance degradation issues, the power demands of the iPhone processor was causing shutoff issues. To solve this, Apple secretly throttled their phones in order to avoid the issue… and were caught by internet sleuths before issuing a statement with their tail between their legs.

Apple’s full letter below (link):

A Message to Our Customers about iPhone Batteries and Performance

We’ve been hearing feedback from our customers about the way we handle performance for iPhones with older batteries and how we have communicated that process. We know that some of you feel Apple has let you down. We apologize. There’s been a lot of misunderstanding about this issue, so we would like to clarify and let you know about some changes we’re making.

First and foremost, we have never — and would never — do anything to intentionally shorten the life of any Apple product, or degrade the user experience to drive customer upgrades. Our goal has always been to create products that our customers love, and making iPhones last as long as possible is an important part of that.

How batteries age

All rechargeable batteries are consumable components that become less effective as they chemically age and their ability to hold a charge diminishes. Time and the number of times a battery has been charged are not the only factors in this chemical aging process.

Device use also affects the performance of a battery over its lifespan. For example, leaving or charging a battery in a hot environment can cause a battery to age faster. These are characteristics of battery chemistry, common to lithium-ion batteries across the industry.

A chemically aged battery also becomes less capable of delivering peak energy loads, especially in a low state of charge, which may result in a device unexpectedly shutting itself down in some situations.

To help customers learn more about iPhone’s rechargeable battery and the factors affecting its performance, we’ve posted a new support article, iPhone Battery and Performance.

It should go without saying that we think sudden, unexpected shutdowns are unacceptable. We don’t want any of our users to lose a call, miss taking a picture or have any other part of their iPhone experience interrupted if we can avoid it.

Preventing unexpected shutdowns

About a year ago in iOS 10.2.1, we delivered a software update that improves power management during peak workloads to avoid unexpected shutdowns on iPhone 6, iPhone 6 Plus, iPhone 6s, iPhone 6s Plus, and iPhone SE. With the update, iOS dynamically manages the maximum performance of some system components when needed to prevent a shutdown. While these changes may go unnoticed, in some cases users may experience longer launch times for apps and other reductions in performance.

Customer response to iOS 10.2.1 was positive, as it successfully reduced the occurrence of unexpected shutdowns. We recently extended the same support for iPhone 7 and iPhone 7 Plus in iOS 11.2.

Of course, when a chemically aged battery is replaced with a new one, iPhone performance returns to normal when operated in standard conditions.

Recent user feedback

Over the course of this fall, we began to receive feedback from some users who were seeing slower performance in certain situations. Based on our experience, we initially thought this was due to a combination of two factors: a normal, temporary performance impact when upgrading the operating system as iPhone installs new software and updates apps, and minor bugs in the initial release which have since been fixed.

We now believe that another contributor to these user experiences is the continued chemical aging of the batteries in older iPhone 6 and iPhone 6s devices, many of which are still running on their original batteries.

Addressing customer concerns

We’ve always wanted our customers to be able to use their iPhones as long as possible. We’re proud that Apple products are known for their durability, and for holding their value longer than our competitors’ devices.

To address our customers’ concerns, to recognize their loyalty and to regain the trust of anyone who may have doubted Apple’s intentions, we’ve decided to take the following steps:

  • Apple is reducing the price of an out-of-warranty iPhone battery replacement by $50 — from $79 to $29 — for anyone with an iPhone 6 or later whose battery needs to be replaced, starting in late January and available worldwide through December 2018. Details will be provided soon on apple.com.
  • Early in 2018, we will issue an iOS software update with new features that give users more visibility into the health of their iPhone’s battery, so they can see for themselves if its condition is affecting performance.
  • As always, our team is working on ways to make the user experience even better, including improving how we manage performance and avoid unexpected shutdowns as batteries age.

At Apple, our customers’ trust means everything to us. We will never stop working to earn and maintain it. We are able to do the work we love only because of your faith and support — and we will never forget that or take it for granted.

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Bikini-Clad Tiffany And Ivanka Trump Wish You A Merry Christmas!

A bikini-clad Tiffany and Ivanka Trump took to Instagram to wish the world a warm Merry Christmas from the Mar-a-Lago resort in Palm Beach, Florida. The pair was looking quite angelic with Instagram’s angel-wing and halo filter, blowing kisses at the camera while “O holy night” blared in the background.

❄️ @ivankatrump

A post shared by Tiffany Ariana Trump (@tiffanytrump) on

Here’s the pair at the annual Christmas Tree Lighting from early December:

First Lady Melania Trump also took to Instagram to wish everyone a Merry Christmas using Instagram’s Santa hat filter with glowing reindeers.

Merry Christmas! 🎄🤶🏻

A post shared by First Lady Melania Trump (@flotus) on

On Christmas Eve, Melania posted this picture of she and President Trump chatting with children who called NORAD’s Santa Tracker:

“But I wanted to talk to Santa!”

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Tokyo-Bound Flight U-Turns To LAX To Remove “Unauthorized Person” – Police Question Nearby Passengers

An All Nippon Airways flight en route from Los Angeles to Tokyo was forced to turn around four hours into the eleven hour journey to remove an “unauthorized person” from the flight, angering passengers who were told by the airline that passenger had a ticket for another airline.

A twitter user claiming to have been on board flight ANA 175 said that four people were questioned and detained; “1 Muslim,2 white, and 1 asian lady.” 

Police said the massive U-turn was due to a “mix up, and was straightened out,” according to ABC7, and that the flight has been rescheduled to depart Wednesday morning.

Model Christine Teigen was aboard and documented the incident over Twitter.

Police were interviewing people seated near the mystery passenger, according to Teigen.

One twitter user said that four passengers were detained:

Another twitter user claims that passengers had to sign an NDA:

 

The recorded flight time was recorded at seven hours and 56 minutes.
Originally published by ZeroHedge

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Facebook Dumps ‘Fake News’ Patrol After Spectacular Backfire

Facebook has abandoned it’s fake news ‘fact checkers‘ program to label articles reviewed by Snopes and Politifact as ‘disputed,’ after the program backfired a little over a year after inception.

Te company pointed to a slowdown in news flow, the fact that stories were required to be deemed “false” before earning a “disputed” label, and because many people were instead drawn to clicking on the articles in question…

Facebook’s Sheryl Sandberg says they are a technology company who doesn’t hire journalists – so, you know, whoops?

Several Facebook employees made a post on Medium detailing the change:

“In December of last year, we launched a series of changes to identify and reduce the spread of false news in News Feed:

  • We made it easier for people to report stories they think are false news
  • We partnered with independent fact-checking organizations that review articles that might be false
  • We reduced the distribution of articles disputed by fact-checkers
  • We launched a collection of features to alert people when fact-checkers have disputed an article, and to let people know if they have shared, or are about to share, false news”

EXCEPT… 

Disputed flags could sometimes backfire: We learned that dispelling misinformation is challenging. Just because something is marked as “false” or “disputed” doesn’t necessarily mean we will be able to change someone’s opinion about its accuracy. In fact, some research suggests that strong language or visualizations (like a bright red flag) can backfire and further entrench someone’s beliefs.

The company will instead offer up alternative stories containing facts that have already been checked.

Perhaps Facebook also realized that Snopes – run by a bunch of degenerates, has a long history of liberal bias? Last year they were dressed down by the Daily Caller in a fascinating Exposé – featuring evidence of Snopes’ liberal bias, several instances of flat out lies, and insight into the individual opinions of the militantly liberal fact checkers who love insulting conservatives.

Let’s also remember that Snopes co-founder David Mikkelson, pictured above to the left of the morbidly obese cat – cheated on wife Barbara Mikkelson with the literal prostitute pictured in the frame below; taking her on expensive vacations around the world using (allegedly) embezzled Snopes funds while banging her like a steel drum.

Meanwhile, Politifact is riddled with propaganda. They are incredibly biased, funded by a Clinton Foundation donor, and not even close to being qualified to sit on an exclusive panel of Facebook “FAKE NEWS” judges.

Worst. Thought police. Ever.

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UK ‘Loses’ Thousands Of Historical Documents Detailing Spy Games And Malfeasance, Then Lied About It

Thousands of government documents detailing some of the UK’s most controversial moments in the 20th century have disappeared, after civil servants removed the files from Britain’s National Archives – then lied about it, reporting them as lost.

The documents cover everything from British colonial rule over Palestine, the long-running territorial dispute with Argentina over the Falkland islands, tests on polio vaccines and the case of the infamous Zinoviev letter – in which MI6 officers leaked a forged letter purporting to be a directive from Moscow’s head of the Communist International group to the Communist Party of Great Britain in an attempt to damage the UK’s first Labour party.

An entire file on the Zinoviev letter scandal is said to have been lost after Home Office civil servants took it away. The Home Office declined to say why it was taken or when or how it was lost. Nor would its say whether any copies had been made. –The Guardian

In other cases, files were carefully picked through – with select files removed and taken away.

This isn’t the first time Britain has removed documents from the public sphere. In 2015, Foreign Office officials removed documents in relation to the 1978 murder of Bulgarian journalist Georgi Markov, who died after being shot in the leg with a ricin pellet while crossing Waterloo Bridge in central London. Officials with the Foreign Office said the Markov documents were nowhere to be found, however upon an investigation by The Guardian, they were miraculously found and mostly returned to the archives.

Other files the National Archives has listed as “misplaced while on loan to government department” include one concerning the activities of the Communist party of Great Britain at the height of the cold war; another detailing the way in which the British government took possession of Russian government funds held in British banks after the 1917 revolution; an assessment for government ministers on the security situation in Northern Ireland in the early 1970s; and three files about defence agreements between the UK and newly independent Malaya in the late 1950s, shortly before the two countries went to war with Indonesia, according to The Guardian.

Apparently, UK government agencies snagging declassified documents out of Britain’s public archives is not a new trend. A Freedom of Information Act (FOIA) request revealed that 9,308 files were taken out of the public eye in 2011, with over 14,000 removed in the following two years. The National Archives says that they strongly encourage the prompt return of the documents – however there is no obligation for government agencies to do so.

The National Archives regularly sends lists to government departments of files that they have out on loan,” a spokesperson said. “If we are notified that a file is missing, we do ask what actions have been done and what action is being taken to find the file.”

Many historians have been highly distrustful of Britain’s Foreign Office since 2013, when The Guardian revealed that the department had been unlawfully hoarding 1.2m historical files at a high-security compound in Buckinghamshire. The discovery came to light during legal proceedings involving British colonialism in the 1950’s, in which the Foreign Office admitted it had withheld thousands of colonial-era files.

Several years before that, the Ministry of Defense refused to release several files related to such matters as arms sales to Saudi Arabia, UK special forces operations against Indonesia and interrogation techniques – because they said they may have been exposed to asbestos.

Move along, citizen.

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Suicidal Bitcoin Holders Share Tales Of Financial Disaster

The last 48 hours of Bitcoin volatility is sure to give stupid families across the country something to talk about this Christmas. Retarded uncles everywhere will amble over half drunk, talk some shit about “crypto” like an expert – 2 weeks after hearing the word for the first time, and offer up some sink-pissing Porter Stansberry bullshit about buying farmland.

Should be fun…

In the meantime, Bitcoin experts have been sharing their alleged tales of disaster over Twitter and Reddit following the carnage. And while the digital currency continues to bounce hard after yet another dick-wrenching selloff, the next one could quite easily turn into the blackest of deaths for retarded uncles and their hard-earned five figure life savings.

 

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