News, Rumors and Opinions Wednesday AM 11-13-19
TNT:
Tishwash: The Kurdish blocs refuse to amend Article 140 and exploit the current situation
(Baghdad: Euphrates News) The Kurdish blocs announced its refusal, its refusal to amend any paragraph of Article 140.
A deputy for the Patriotic Union of Kurdistan (PUK), Hussein Narmo, said in a press statement that "Article 140 is constitutional and its implementation is better than amending it."
He added that "the Kurdish blocs categorically reject the amendment or change of Article 140, and even if any amendment and passed a vote within the House of Representatives, the provinces of the region will reject those amendments."
He continued Nermo that "the Kurdish blocs and all the people of the Kurdistan people refuse to amend or abolish Article 140 because it is very important for the people of Kurdistan, it concerns the future of the areas cut off."
The 2005 constitution defined Article 140 as a solution to the problem of Kirkuk and the so-called disputed areas between the Kurdistan region and neighboring provinces (Nineveh, Diyala and Salah al-Din). link
RVAlready: IMO, CBI needs to implement the RV and stop the auctions right away. Then they can hold elections and replace the corrupt…. Hopefully, the GCR is ready to roll.
********************
Tishwash: Parliamentary finances favor the arrival of the budget at the end of the current month
The Finance Committee in the House of Representatives, on Wednesday, the non-arrival of the federal budget for fiscal year 2020 from the Presidency of the Council of Ministers to the House of Representatives so far, likely to arrive at the end of this month
"The federal budget for 2020 is still in the custody of the government and we have not reached it until the moment," committee member Hanin al-Qadu told Al-Maalouma.
He added, "The budget will arrive at the end of this month to make adjustments, transfers and discussions on some articles and paragraphs, as well as to meet the ministers of planning and finance to put the finishing touches to the budget."
The Presidency of the House of Representatives announced earlier, to address the Secretariat of the Council of Ministers on speeding up the dispatch of the draft budget law.
The article provides for a three-stage mechanism: first, normalization, which means addressing the changes in the demographics of Kirkuk and the disputed areas during and after Saddam's regime, and the second census in those areas, the most recent referendum to determine what their residents want, before December 31. The first 2007 link
*******************
Courtesy of Dinar Guru:
Jeff Article “Secretariat of Council of Ministers: Adding allocations for reform packages to the budget of 2020 without moving the doors” …
I have an article that tells you the reforms are in the 2020 budget. That’s huge…remember most of the major reforms are post rate change steps…notice how I told you the rate cannot change until after the 2020 budget because of what’s inside of it. This is huge.
I hope you’re seeing how important the 2020 budget is…they’re telling you from many different angles how important this budget is and how much post rate change money is inside the 2020 budget.
****************
World's wealthy amass $121 billion in tax-sheltered accounts
Contributions to tax-sheltered, donor-advised funds spiked last year, with a record amount of money given by the wealthy, according to a new report.
Last year alone, the wealthy gave an estimated $37.12 billion to donor-advised funds — a 20.1 percent increase from 2017, according to the 13th annual report from the National Philanthropic Trust, published on Tuesday. That means the amount of charitable assets in donor-advised funds grew to $121.42 billion last year, an 8.3 percent increase from 2017.
A donor-advised fund, or DAF, allows individuals to make a charitable contribution, receive an immediate tax deduction and then recommend grants from the fund over time.
Money in a DAF can be invested before it’s granted out -- but the growth on that money won’t be taxed. Plus, DAFs can reduce tax burdens if an individual receives a sudden windfall of money, like an inheritance, by allowing individuals to take an immediate tax deduction when they make a charitable contribution.
The sudden rush into DAFs is a result of the tax overhaul passed by Republicans two years ago, said Eileen Heisman, president and CEO of National Philanthropic Trust, because taxpayers were trying to exceed the standard deduction amount.
“Contributions to donor-advised funds outpaced grants for the first time in four years, which may indicate donors choosing to ‘bunch’ their giving — essentially pre-funding several years of charitable giving to make their philanthropy more tax effective,” Heisman said in a statement.
The number of DAF accounts also hit a record, rising more than 55 percent to 728,563 in 2018, up from 369,331 in 2017.
Still, Heisman told Bloomberg News that one possible issue that could arise out of an influx of DAFs is that while the overall amount given to charity is rising, studies show that about 20 million fewer households gave money in 2016, compared to 2000.
“Higher-net worth individuals are giving a larger percentage of dollars, and that’s not good for civil society or democracy,” she said. “There are still people out there after the recovery from the crash who are not accumulating wealth and don’t have extra money to give away. So there are some trend lines in giving that aren’t as positive as they could be, and that’s a silent part of this report.”
https://www.foxbusiness.com/money/worlds-wealthy-amass-121-billion-in-tax-sheltered-accounts
We Will See The Worst Job Losses On Record In the Coming Recession This Time They Won't Be Replaced
Nov 13, 2019
In the Coming Recession we will see the worst job losses on record due to one imposing factor.... Automation. Experts have been puzzled recently about the lack of productivity gains in the obstacles 10 years and some economists were even suggesting that it is present but the way the calculate the data must be faulty.
We already see automation has been greatly accelerated due to economic changes. For retail business is tight so the change will come more of necessity than leisure.
This is the new factor that will drastically change the landscape of the economy in the next recession. Improvements in productivity due to automation should be enhancing everyone's standard of living while instead they are just replacing everyone's job.