Congress Crowdsourcing New High-Skilled Immigration Bill, Contribute Here
The U.S. House of Representatives just released its own version of a high-skilled immigration reform bill and is actively seeking input through the collective IQ of the Internet. House Oversight Chairman and one of our Most Innovative People in Democracy, Darrell Issa, has placed the Supplying Knowledge-Based Immigrants And Lifting Levels of STEM (SKILLS) Visas Act on his very own public markup utility, Project Madison (we partnered with Issa’s nonprofit, the Open Government Foundation and have integrated it into our CrunchGov site). Details Of The New Bill A few important details about the bill that took an admirable bit of linguistic gymnastics to come up with a title to fit that obviously pre-determined acronym. (U.S. government 101: in order to become law, both the House and the Senate will have to combine their bills. The details below are the important differences between the House and the Senate). 1). SKILLS Visa is a net neutral green card allotment system; the 120,000 high-skilled ...
Sen. Rand Paul Is Mostly Right In Defending Apple's Obligation To Minimize Taxes
"It's absurd for Congress to vilify businesses like Apple for wanting to minimize their tax code just like every other American rightly does," tweeted uber-Libertarian Senator Rand Paul, lashing out at his Senate colleagues for 'dragging' Apple CEO Tim Cook in to defend his company's tax policies. On the eve of Cook's much-hyped testimony, a Senate investigation released a scathing report, accusing Apple of cooking the books and engaging in shady tax-dodging practices, to avoid repatriating $102 billion in offshore cash to avoid a 35 percent U.S. tax rate.
Wisconsin Gov. Promises To Use Internet Sales Tax To Lower Income Tax
It sounds like a nice idea, if you don’t own a calculator. The governor of Wisconsin wants to give his residents a tax break, using the revenue from a proposed Internet Sales tax to lower the state’s income tax. “I want to make clear, should federal Marketplace legislation become law, my intention would be for any resulting additional revenue be used to provide individual income tax relief for Wisconsin’s taxpayers,” Wrote Governor Scott Walker to members of Congress. The Marketplace Fairness Act will permit state governments to collect sales taxes from any business that both grosses more than $1M in revenue and has a substantial operating base in their region. Earlier this month, a draft of the bill passed the U.S. Senate with overwhelming bipartisan support, but faces tougher opposition in the House, where Republican leadership is concerned that the law will be a logistical nightmare for small businesses. Although, I wouldn’t get too excited. With 5 million residents in Wisconsin ...
Feds Seize Assets From Mt. Gox's Dwolla Acount, Accuse It Of Violating Money Transfer Regulations
Bitcoin exchange service Mt. Gox is experiencing some issues with U.S. authorities. The Department of Homeland Security issued a seizure warrant to Dwolla for the money in Mt. Gox’s Dwolla account. Mt. Gox users can’t use Dwolla as a funding option anymore even though it was one of the most popular options. The Japanese startup failed to register in the U.S. as a money transmitting company — president and CEO Mark Karpeles now faces up to five years in prison. Dwolla had no choice but to proceed with the request. IDG News obtained a copy of the warrant through the U.S. Immigration and Customs Enforcement (ICE), the investigation team of the Department of Homeland Security. In order to accept funds in dollars, Mt. Gox opened a Wells Fargo business account for Mutum Sigillum LLC (Mt. Gox’s American subsidiary). The company had to complete a document that states whether it provides money services or not. The warrant reads: “That document was completed on May 20, 2011, and identified ...
CamCard, A Card-Scanning App That's Dominating Asian Markets, Reaches 50M Users
While there's a perennial debate on the West Coast about whether and when business cards might become irrelevant, they continue to be at the center of business customs in China and Japan. That's why it's natural that a Chinese company -- not an American one -- might be able to dominate this market and behavior globally.