EDUCATION CENTER
IN THE MEDIA: Xinmin Weekly, China

Xinmin Weekly interviewed me about my blog: Scrap payroll taxes entirely to increase U.S. jobs.

I met a nice journalist Ms. Leyun (Lorrin) Shao from China in Finland last year. She reads my blog and interviewed me by email about my above blog. Her article appeared in Xinmin Weekly, a reputable news magazine located in Shanghai, China.

Our Christie Kam CPA, also from China, gave me a translation where I and Green & Company are mentioned.

The entire article is basically about various reactions from Obama’s job speech on September 8, 2011.

The title of the article is” JOBS – Whom is Obama trying to stimulate?”

Click here for the pdf article in Chinese.

English Translation for parts with Green:

Robert Green, CPA, founder and CEO of Green Co. provides tax consultation to investors and corporate management. During interview with (Name of Chinese Journal), he indicated that, nowadays many American businesses outsource in India and China, the so called 'tax havens', in order to avoid taxes. They think by doing that, they would not be under the ruling of American tax laws and regulations, and therefore they could save money. American local work force demand higher income, better benefit, and yet many of them aren't as highly educated, and they are less competitive. In addition, many jobs are becoming more automated by machines or computers, therefore job opportunities are scarcer.

Green said he was glad to see Obama suggesting to cut social security in half. Since we need to create jobs, we really shouldn't promote heavy taxation. Reducing tax will provide more job security to American workers, and offer more job opportunities. As to the part of tax revenue that the Government would lose, if possible, they could be collected from outsourcing business and the industry sectors where the labors have been automated greatly.

Republicans agree to cut business tax, Democrats worry the money saved will be spent on executive bonuses instead of creating more job opportunities. Green shares Democrats' worries. "Don't create loopholes for certain industries. In other words, the government should increase regulations on outsourcing industries."

As to social security system, Green commented that Republican candidate Perry describes American social security system as a Ponzi scheme. If that's true, why not completely stop withholding social security from wages. If you want to tax, you've got to increase transparency of social security system first.

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*ObamaCare taxes are starting to affect traders
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Mar 27: Protect yourself from market losses with a Section 475 MTM election Read More

Mar 25: IRS guidance on bitcoin transactions will chill its use Read More

Mar 24: SEC Large Trader Reporting Rule Read More

Feb. 27: Another trader tax court loss (Assaderaghi) Read More

Feb. 1: Net investment tax details Read More

Jan 14: New IRS guidance on SE tax deductions affects partnership AGI-deduction strategies. Read More

Jan 9: A major tax reform bill in 2014 is unlikely, and “tax extenders” may be history, too. Read More

Jan 7: Kick off to 2013 tax filings for traders. Read More

Dec 4: IRS final regulations for Net Investment Tax help traders. Read More

Dec 3: Bitcoin is a hot commodity, but is it taxed like commodities, assets, or currencies? Read More

Nov 15: Another non-business trader gets busted in tax court trying to cheat the IRS. Read More

Nov 6: Hedge fund investors depend on “assurance” from quality independent CPA firms. Read More

Oct 29: ObamaCare taxes are starting to affect traders. Read More

Sept 15: Not Easy For New Yorkers To Escape Big Apple's Tax Bite. Read More

August 30: The Tax Court Was Right To Deny Endicott Trader Tax Status Read More

August 18: Common trader tax mistakes Read More

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March 31: PFG investors can deduct theft losses on 2012 tax returns with Rev. Proc. 2009-20 safe harbor relief. That’s great news! Read More

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Sept 5: High-income traders and ObamaCare’s 3.8% Medicare tax Read More


GreenTrader blog archive, Forbes blog, Benzinga blog.

 




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