In anticipation of higher taxes on dividends, a number of corporations are paying out dividends early - even when they have to borrow to do so.
As the corporate-named “fiscal cliff” nears, hundreds of companies are busy paying out 2013 dividends in 2012, so CEOs and other major shareholders can avoid paying higher taxes when the Bush tax cuts expire. Under the Obama administration, taxes on dividends may increase from the current rate of 15 percent to as high as 43 percent.
Read more about how the one percent are stuffing their Christmas silk stockings with millions to avoid taxation at: http://truth-out.org/opinion/item/13545-ceos-ring-in-new-year-with-early-pay-day-windfall-to-beat-expiration-of-bush-tax-cuts
You can also read how the Washington Post, one of the stocking stuffers, is being asset stripped at: http://truth-out.org/news/item/10635-is-the-washington-post-being-asset-stripped
The decrepit ‘newspaper’, the mouthpiece of corporate America, just posted third quarter earnings are down 90% for Kaplan Higher Education (Kaplan University). They are closing these for-profit drive-by colleges down like moonshine stills throughout the nation (1,800 now and counting) for they are little more that diploma mills and people have seen through the financial scam the syndicate has been running; a sordid crime wave that has left ‘collateral’ damage in the form of foreclosed lives and broken futures.
Now, Donald Graham and his WaPo traded stock, of which he owns the controlling restricted shares and his buddy “the sage of Omaha”, Warren Buffet owns 25%, is targeting virtual health care industry, the new scam in town. WaPo just bought Celtic Health Care (http://www.celtichealthcare.com/).
And why not? After all, playing parasite to the host government of the US is the business plan of Kaplan and WaPo under the tutelage of the “Don”, Donald Graham. They have developed a sophisticated billing system via computer that allows them to set up a gravity fed hose that will siphon your tax monies right into their coffers while you get to sit at home, watch Cheaters on TV and monitor your blood pressure. Point and click education is now point and click health care. The stench of Graham’s necrophilia is palpable.
Celtic is a relatively small player in what had recently been one of the fastest growing, but most scrutinized sectors of the health-care business—treating patients at home instead of paying for expensive hospital stays. Most of the company’s revenue comes from Medicare reimbursements (http://online.wsj.com/article/SB10000872396390444592404578030414021171222.html).
In its report to the health subcommittee of the House Committee on Energy and Commerce, the U.S. Government Accountability Office (GAO) said that medical clinics and suppliers of durable medical goods are most commonly investigated and prosecuted criminally for Medicare fraud, accounting for 37 percent of all successful Medicare fraud prosecutions (http://www.post-gazette.com/stories/business/news/gao-reports-on-prevalence-of-medicare-fraud-664128/#ixzz2GCF38UAB).
The report went on to note that most Medicare fraud comes in the form of billing fraud — submitting a bill for care that was not actually administered, or suppliers billing for supplies and services that are overpriced or not medically necessary. Other common forms of fraud include falsifying patient data to increase Medicare payment rates and paying kickbacks to providers for referring beneficiaries to a specific specialist or clinic (ibid).
If you think Graham, Buffet and WaPo did a good job with education, via criminal syndicate Kaplan, then just wait until they latch on to the carotid vein of corporate virtual health care paid for by your government taxes.
Yes, the corks will be popping at the Graham mortuary/office this New Years Eve as the rifle sights are set on further accumulation of profits using the government as both a board room and collection agency for health ‘care’ services we can only expect to be as sub-prime as Kaplan is and was.
Meanwhile all the talk about the ‘fiscal cliff’ and ‘government debt’ will continue unabated as working people are asked to shoulder austerity measures that will cause many of them to die. This, while the one percent enjoy luxurious gifts for the holidays and work to drive up debt through their neoliberal policies that depend so much on the government they tell you they hate; simply to accumlate more revenues.
But dying too is big business so perhaps we might see WaPo get into the undertaking business soon. When it comes to criminal Wall Street and the sociopathy of the one percent, anything and everything is possible.