Set as Homepage - Add to Favorites

日韩欧美成人一区二区三区免费-日韩欧美成人免费中文字幕-日韩欧美成人免费观看-日韩欧美成人免-日韩欧美不卡一区-日韩欧美爱情中文字幕在线

【nagma sex videos】Poison Ivies
The nagma sex videosBlessed and the Brightest Chris Lehmann , November 13, 2017

Poison Ivies

The higher earning in America Dodge taxes and divestment activists: hide the money. / Joe Brusky
Columns C
o
l
u
m
n
s

American social mythology, at bottom, revolves around a simple proposition: obtain a quality (i.e., elite and exorbitantly expensive) college degree, and once you matriculate, you’ll be clutching a golden ticket to success, public esteem, and prosperity. That’s why, when he delivered his first State of the Union address in the face of the worst economic crisis since the Great Depression, Barack Obama sternly announced that “it is the responsibility of every citizen” to embark on the path to higher learning: “And so tonight, I ask every American to commit to at least one year or more of higher education or career training.” It’s also why, for all his well-documented contempt for various cultural elites, Donald Trump never misses a chance to remind anyone within earshot of how very impressive his Ivy League credentials are—even as he routinely lies about his own academic performance as a Penn undergrad.

Here’s the thing, though: the idea that a fancy education will supply the skeleton key to the good life is a bald-faced lie. We see social mobility (itself in long-term freefall in these United States) increasingly dissociated from the procurement of elite academic credentials. And A-list colleges, liberated from the embarrassing pantomime of even having to seem like bulwarks of equal opportunity, now devote scarcely any of their lavish endowments to the cultivation of our fabled American can-do spirit, let alone to the fair distribution of wealth on a wider scale. Instead, they are engines of inequality, and along the way, they happen to furnish large-scale investors with a briskly administered—and an agreeably virtuous-sounding—global scheme of tax avoidance.

Do I exaggerate? Consider the trove of evidence shaken loose under the auspices of the Paradise Papers—a leak of millions of compromising documents that concern the doings of Appleby, a Bermuda-based law firm specializing in offshore tax avoidance. According to a recent New York Timesstory on collegiate financial legerdemain, Appleby has assisted many a big-ticket college in crafting what are known as “blocker corporations”—so named because they block the taxes university endowments would otherwise have to pay on certain investments. While “blocker” is a suitably campus-friendly term, conjuring up storied football rivalries between Princeton and Yale, a more honest appellation would be something like “capital flight” or “mob front,” per Timesreporter Stephanie Saul:

as endowments have sought greater investment returns in recent years, they have shifted more of their money out of traditional holdings like United States equities to alternative, potentially more lucrative investments. These include private equity and hedge funds that frequently borrow money, opening them up to tax consequences.

When schools earn income from enterprises unrelated to their core educational missions, they can be required to pay a tax that was intended to prevent nonprofits from competing unfairly with for-profit businesses.

But just throw a blocker into the mix, and presto: by “establishing another corporate layer” in their operations, university administrations can make all those pesky tax liabilities vanish in an instant. Instead of accruing to the host institution, the “tax is instead owed by the [blocker] corporations, which are established in no-tax or low-tax jurisdictions like the Cayman Islands or the British Virgin Islands.”

The blocker subterfuge permits universities to dodge the flak they’d otherwise field from activists for controversial entries in their portfolios.

And make no mistake: while the number of heavyweight higher-ed outposts joining in on blocker funds may be comparatively small, they represent a hugely outsized segment of the market. Nearly three-quarters of the estimated $500 billion sloshing around in university endowments belongs to just 11 percent of the colleges and universities in the country. So not only are our institutions of higher learning delivering a defective consumer dividend, in the form of stalled social mobility and metastasizing student debt—the college system is a de facto cartel, ensuring that the already very rich are ideally positioned to grow richer still, at the expense of everyone else. As Dean Zerbe, the former tax counsel to the Senate Finance Committee, told Saul, the concentration of university wealth is “overwhelmingly weighted towards the 1 percent.”

The blocker subterfuge also permits university administrations and boards to dodge the flak they’d otherwise field from students and activists for controversial entries in their portfolios. Making ample use of sleight-of-hand blocker deniability, the endowments of Columbia and Duke, for example, poured cash into an iron-mining fund called Ferrous Resources, which operates principally in Brazil, and was forced to shut down a proposed pipeline deal in 2012 amid reports that it would endanger the health of more than 100,000 citizens. (Duke, for its part, seems to acknowledge the mordant, predatory possibilities of the whole shakedown by naming one of its blocker-empowered entities the Gothic Fund.) More run-of-the-mill deals for hydrocarbon and natural gas holdings also gain protective covering from blocker deals, particularly for schools that have disingenuously pledged to limit their investments to acceptably green enterprises.

But as is usually the case in the investing world, the truly egregious effects of the blocker scam are hiding in plain sight. The real scandal here isn’t the ease with which the captains of Ivy League endowment can skirt this or that ethical-investing stricture (even though, of course, such machinations are plenty scandalous in their own right). No, to behold campus financial relations in their true bloated and corrupt glory, you have to start by asking just what it is that’s touched off the arms race of endowment profitability in the first place—the competition to lure the richest possible student body, so as to continue padding their portfolios with alumni donations, nonprofit grants, charitable gifts, and the rest. It’s this pursuit that has spurred the colossal increase in tuition—which, in turn, has sparked the massive student-debt crisis, as middle-class-and-lower students are saddled with the debts accrued to create insanely lux physical plants and student housing for their Kushner-esque peers. And it’s the same untrammeled quest for pecuniary distinction that has sent not merely campus portfolios, but also the prestige academic brands themselves in search of still more moneyed clientele, in well-heeled and authoritarian climes such as the UAE and Singapore.

But even with such capital allurements strewn hither and yon, the schools can’t escape the clutches of globalized debt; Harvard’s elephantine $35 billion endowment has taken major hits going back more than a decade, when its putative genius neoliberal economist-president Larry Summers sent the fund careening into the red thanks to a series of disastrous interest-rate swaps in the early 2000s that ballooned into a full-blown crisis come the 2008 meltdown. The losses have slowed, but the long-term picture remains sluggish, even as the addled managers of the endowment pull down nearly $15 million a year in compensation.

In other words, the prestige education so long peddled as the bedrock guarantor of the American success creed has shriveled up into an unrelieved, relentlessly cronyist study in fee-gouging and rent-seeking—much like every other major enterprise and economic sector in Donald Trump’s America. Perhaps, then, our higher learning cartel really isteaching its eager recruits something crucial about how to make a name for yourself: that unless that name happens to be, say, Jared Kushner, you’re likely to be well and truly fucked.

0.1247s , 14240.7109375 kb

Copyright © 2025 Powered by 【nagma sex videos】Poison Ivies,Public Opinion Flash  

Sitemap

Top 主站蜘蛛池模板: 久久国产精品久久小说 | 亚洲国产精品成人综合久久久 | 国产精品久久久久久人 | 波多野结衣多次高潮三个老人 | 加勒比人妻交换在线无码AV | 亚洲精品高清国产一久久 | 久久棈精品久久久久久噜噜 | 国产福利视精品永久免费 | 在线毛片一区二区 | www天堂二区网站成人中文wyc | 久久精品人妻中文系列 | 亚洲天堂免费观看 | 丁香五月亚洲综合在线国内自拍 | 国产一区二区三区亚洲欧美 | 久久久99久久久国产自输拍 | 99国产精品亚洲色婷婷 | 五月婷婷久久草丁香 | 国产精品自在线拍国产手青青机版 | 狠狠色噜噜狠狠狠狠2021天天 | 丰满爆乳少妇中文无码 | 福利视频导航大全 | 丰满五十老女人性视频 | 日本成熟少妇喷浆视频 | 成人国产精品高清视频免费 | 精品无人区码一码二码三码区别 | jizz全部免费播放在线观看日韩中字在线观看 | 亚洲精品熟女国产国产老熟女 | a级在线观看日韩 | 一区二区三区日韩在线 | 色综合久久88色综合天天提莫 | 丁香天堂网 | 在线观看玖玖视频最新久草网站久草资 | 国产午夜鲁丝无码拍拍 | 99国产精品白浆无码流出 | 精品人妻系列无码专区 | 欧美专区第一页 | 人妻体体内射精一区二区 | 99精品国产一区二区三区在线观看 | 欧洲精品高清无码一区二区三区 | 国产a精品区二区三 | 韩国精品久久一区二区三区 |