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Secret Service Definition
The United States Secret Service or USSS was established by President Abraham Lincoln (1861–1865), its main responsibility was to prevent
counterfeiting(an imitation intended to be passed off fraudulently or deceptively as genuine)of money. During the presidency of Lincoln's
Administration, the bills were done by each state through banks, which made the monetary system vere disorganized. After realizing that more than a
third of the nation's money was counterfeit, changes needed to be made in order to keep the economy balanced during the U.S.Civil War. With the
help of The Secretary of the Treasury Hugh McCulloch, President Lincoln created a Secret Service on July 5, 1865 (151 years ago) on Washington,D.C.
Its first chief was "Will iam Wood.... Show more content on Helpwriting.net ...
Providing advanced computer forensics and network intrusion investigation training to enhance the skills of special agents through the Electronic
Crimes Special Agent Program (CSAP)
Establishing a Computer Emergency Response Team in coordination with Carnegie Mellon University
Maximizing partnerships with international law enforcement counterparts through overseas field offices and by forward deploying ACSAP agents to
international working groups
Providing training, examination services and research into cutting edge processes to extract potential evidence from mobile devices to include cellular
phones, skimming devices and GPS units
Providing computer–based training to state and local law enforcement partners to enhance their investigative skills at the National Computer Forensics
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Social Security Policy Analysis
Introduction Description of the Problem that Necessitated the Policy On October 24, 1929, the stock market crashed, thus initiating the Great
Depression. When the Great Depression began, the United States was the only industrialized country in the world without some form of unemployment
insurance or security ("The Great Depression," 2009). As a result, there was a downturn in spending and investment which led factories and other
businesses to slow down production and construction, as well as fire their workers ("The Great Depression," 2009). During this time period, fewer
than 10 percent of workers had any type of private pension plan through work which meant that most individuals had no reliable cash–generating form
of retirement security ... Show more content on Helpwriting.net ...
Department of the Treasury, 2007). OASDI is funded from a combination of employee and employer contributions, which is then deposited in the
OASDI trust fund and used to pay current claims (McNutt & Hoefer, 2016). According to statistics from 2015, approximately 59 million people
collected benefits each month: 39 million retired workers, 2.9 million spouses or children of a retired worker, 6 million survivors of deceased
workers, including 3.8 million widows and widowers and 1.8 million children, 8.9 million disabled workers, 1.9 million were the child or spouse
of a disabled worker, 3.1 million children under 18 received benefits, and 1 million adults who were disabled since childhood received benefits as
dependents of a retired, disabled or deceased parent (National Academy of Social Insurance, n.d.). As of 2016, the full retirement age is 66 and the
early retirement age is 62; by taking early retirement, one can reduce their Social Security benefits up to 30 percent (Alliance for Retired Americans,
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Alexander Hamilton: The Man On The Ten Dollar Bill
Alexander Hamilton: The Man on the Ten Dollar Bill
"My ambition is so prevalent that I contemn the groveling condition of a clerk," written by Alexander Hamilton, age 12, on November 11, 1769.
Alexander Hamilton was born and raised in the West Indies, he began working as a merchant's clerk at age 9 and became an orphan a year later.
During his time as a child, he began to experience economics and a few years later, he inspired locals to send him to New York to get an education
and make something of himself. He completed two years of school before joining the Revolutionary War. He was Washington's aide and wrote to
Congress about financial needs for the soldiers, which he experienced first hand. After the war, he came back to finish his degree and married
Elizabeth Schuyler. This creates future mistrust in him as a politician because of his social position and elitist point of view. By the end of his life, he
will have diminished the War debt,... Show more content on Helpwriting.net ...
When brought to the attention, many people feared it would only help the rich and many believed it was unconstitutional saying the "Constitution does
not explicitly give the federal government the power to create corporations." In one night, Hamilton decided to write a 15,000 word essay defending
his plan and wrote, "The principal and most enlightened commercial nations (had national banks). There exists not a question about their utility."
President Washington was persuaded by the essay and signed the bill, and the First Bank of theUnited States opened on December 12, 1791 in
Philadelphia. A year later, Hamilton's plan became such a big success that United States bonds were selling above European's. Which in turn created
stock markets in New York and Philadelphia in
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Lowering The Liquidity Of The Federal Reserve
To combat the liquidity issues in the market, the Federal Reserve stepped in and lowered the discount window interest rate with the intent of putting
liquidity back into financial markets. These lowered rates had a positive short term affect with some improvements in market liquidity. However,
credit markets were still not providing the level of market liquidity that was required by businesses. The first stage of the Federal Reserve's response
was only a short term fix and did not adequately address the market liquidity needs, so the Federal Reserve continued with additional action to
supplement market liquidity through the use of non–monetary tools (Sarker, 2009).
The non–monetary, second and third stage tools established by the Federal ... Show more content on Helpwriting.net ...
The bank investment programs helped stabilize the banking system by alleviating some of the liquidity pressure on large financial institutions whose
failure would have had devastating impacts on the entire economy. The initial authorized TARP budget of $700 billion was later reduced to $475
billion as part of the Dodd–Frank Wall Street Reform and Consumer Protection Act, referred to as the Dodd–Frank Act and authority to make new
financial commitments under TARP ended in 2010 (Department of Treasury, n.d.).
Of the five program areas, the majority of the TARP money was spent stabilizing banking institutions, with a total of $250 billion. $27 billion was
committed to efforts in restarting credit markets, and another $47 billion committed to help families avoid foreclosure. The other two program areas
were efforts to provide stability to the U.S. auto industry in the amount of $82 billion, and approximately $70 billion was committed to stabilize
American International Group (AIG). In addition, the U.S. Treasury implemented standards of executive compensation for financial institutions that
were rescued by the TARP program (Department of Treasury, n.d.).
The U.S. Department of Treasury publishes TARP reports with details of where TARP funds have been committed, disbursed and recovered. The
largest obligations were made to the banking industry in an amount exceeding $250 billion, over half of the total $455 billion obligated funds. Other
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Terrorism Research Paper
b.United States' Efforts
Since September 11th, there has been significant interest in terrorist funding, more specifically the moving of money through charities and charitable
donations. After the attacks, the U.S. Treasury Department was primarily focused on the freezing of assets, with U.S. policy being "starving the
terrorists of funding and shutting down the institutions that support or facilitate terrorism." It was already illegal to provide or collect funds for acts of
terrorism or to provide material support to designated terrorist organizations . The Office of Foreign Assets Control, within the Office of Terrorism and
Financial Intelligence, and the Financial Crimes Enforcement Network are two bureaus within the U.S. Treasury ... Show more content on
Helpwriting.net ...
13224), which was enacted after the September 11, 2001 attacks and "blocks all property and interests in property within the United States or in the
possession or control of U.S. persons, including foreign branches, in which there is an interest of any person listed in the order or subsequently
designated under the order." E.O 13224 authorizes the Secretary of the Treasury, more specifically OFAC to "designate those persons . . . who are
owned or controlled by, or that act for or on behalf of, designated persons; those who assist in, sponsor, or provide financial, material, or
technological support for, or financial or other services to or in support of acts of terrorism or designated persons; and those who are ―otherwise
associated with‖ designated persons."
In using this authority, OFAC has designated approximately five hundred forty–seven (547) individuals and entities since May 2010. Of these
designated individuals and entities approximately sixty (60) are charities, their branches, and associated individuals and nine (9) are located within the
United States. Approximately $3 million worth of assets has been blocked because of these nine (9) charities.
While OFAC's primary purpose is to enforce sanctions against individuals, countries, and organizations that sponsor terrorism, it also strives to educate
charities and individual donors. For example, OFAC "has actively engaged with charitable organizations to
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Contradictory Effects of Monetary and Fiscal Policies on...
CONTENT
1. INTRODUCTION 3
2.MONETARY AND FISCAL POLICIES OF THE USA 3
3.REASONS FOR CONTRADICTORY CONSEQUENCES 5
4.IMPACT ON THE BANKING SYSTEM 7
5.IMPACT ON CITIBANK 8
6.RECOMMENDATIONS 9
7.CONSEQUENCES 10
8.REFERENCES 11 EXECUTIVE SUMMARY
The global economic downturn, the sub–prime mortgage fiasco, investment bank collapses, falling shares and home prices, and tight credit pushed the
United States into a recession by end 2007.In response to which the Federal Reserve, Treasury, and Securities and Exchange Commission responded
with unprecedented , monetary policy expansion, fiscal stimulus and financial institutional bailouts ... Show more content on Helpwriting.net ...
Figure 2 United States Interest Rate
3.REASONS FOR THE CONTRADICTORY CONSEQUENCES
1)Huge Deficits
With America pumping in massive amounts of money in the economy ,USA's national debt has increased to a whopping $1.42 trillion in 2009, a
$960 billion increase from the 2008 deficit, representing 12.3% of gross domestic product, the largest share since World World .As a result dollar has
dropped against the emerging–market counterparts. The high level of debt and continuing large trade deficits have raised concerns regarding inflation
and the value of the dollar relative to other currencies, as well as its place as the primary reserve currency.
Secondly, many of the foreign holders of U.S. debt are investing more in their own economies. Over time, diminished demand for U.S. Treasuries will
increase interest rates, thus slowing the economy
Furthermore, this diminishing demand is putting downward pressure on the dollar. That 's because dollars, and dollar denominated Treasury
Securities, are becoming less desirable, so their value declines. As the dollar goes down, foreign holders get paid back in currency that is worth less,
which further decreases demand.
The bottom line is that the large Federal debt is having a slowing effect on the U.S. economy.
2.Liquidity Trap As short–term policy rates for the various central banks have moved close to zero in America, the conventional open–market
operations purchases of
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Department Of Homeland Security And Terrorism
DEPARTMENT OF HOMELAND SECURITY The events that occurred on September 11th, 2001, changed the United States and the rest of the
world. President George W. Bush declared a war on terrorism on national television, during a joint session of Congress on September 20th, 2001. The
President's words echoed the cries of this country and during his speech he went step–by–step in his explanation of the events and actions moving
forward. After explaining to the nation the details of the events that occurred on September 11th, he requested that American's not hold all Muslims
responsible for the cowardly acts and attacks. He acknowledged the country may face many challenges in finding and eliminating the elusive enemy.
Turning our countries grief and anger in to a mission to rebuild and overcome was part of his plan. Fighting a war on terror was outlined in President
Bush's speech, starting with al–Quida. He proclaimed that America would "pursue nations that provide aid or safe haven to terrorism. Every nation in
every region now has a decision to make: Either you are with us or you are with the terrorist" (McNamee, 2001). During his speech, the president
unveiled the plans for the United Stated Department of Homeland Security. The Start of Homeland Security Pennsylvania Governor Tom Ridge was
appointed director of the Office of Homeland Security eleven days after the terrorist attacks. The Office of Homeland Security was tasked with
coordinating and overseeing strategies
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Duties Of The President's Cabinet Essay
The Duties of the President's Cabinet
Abstract: This paper will speak to the duties of the cabinet that surrounds the President. In the text I will identify each cabinet position with a brief
description of their role and importance to the president. The paper will prove that the president him/herself cannot do this job alone, an example from
the Bush administration will also be included following the duties portion of the paper. All in all, the cabinet will be explored with their operational
functions in the United States government.
James Castellano
July 14, 2015
Political Science 510
Prof. Grulke
The Presidential Cabinet
The United States of America has the privilege to select a leader and his ... Show more content on Helpwriting.net ...
His or her position and expertise counterparts with the President to inform him of decisions. Recently, this position has moved into a more important
role than it ever did previously.Department of State: presently Secretary John Kerry leads the state department. One of the original cabinet positions,
the Secretary of State important for foreign relations. He or she is the main point of contact for foreign issues and first to advise the president of any
issues that may occur. "Under the Constitution, the President of the United States determines U.S. foreign policy. The Secretary of State, appointed by
the President with the advice and consent of the Senate, is the President's chief foreign affairs adviser. The Secretary carries out the President's foreign
policies through the State Department and the Foreign Service of the United States" (US Department of State 2009). When it comes to handling
foreign issues, from treaties to conferences, conflict and resolution, the Secretary of State is the second most important person in regards to gaining and
developing foreign relations. It is important to understand this vital role in maintaining peace talks, expanding our trade market, and forming alliances.
Though President Washington did not want to be involved with international issues, President Jefferson served as the first Secretary of State
implementing the ground rules for this position
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The Development Of South Africa Essay
According to Farlam (2005) and Schönteich (2007, the South African government saw PPPs as a way to radically improve/enhance infrastructure
and service delivery to its people and as a way to redress the inequalities that were evident. To this end, they appointed a task team to develop
legislative, policy and a framework for PPPs (PPP Unit). As a result, a PPP Unit was established in National Treasury. Schönteich (2007) remarks
that as a way of redressing inequalities and social imbalances, the PPP framework incorporates Broad Based Black Economic Empowerment (BBBEE)
regulatory requirements to ensure that previously disadvantaged blacks participate in PPPs projects and this shows government's sincerity and strong
commitment to making PPPs work.
South Africa has developed one of the most robust and comprehensive PPP legal frameworks in the SADC region (Levinsohn & Reardon, 2007).
According to World Bank (2015), South Africa has substantial PPP experience, having implemented 24 national and provincial level PPP projects
between 2000 and April 2014 totalling over US$8.35 billion of total investment. This includes the Gautrain Project, valued at US$3.1 billion (ZAR23
billion), which is one of the largest high–speed rail projects on the African continent. The National Treasury, the key government body that approves
deals in South Africa, has developed a PPP Manual and Standardised PPP Provisions to guide PPP projects (Farlam, 2005). However, Nyagwachi
(2008) observes that South
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Yield to Maturity (YTM) of Various Maturities
Yield to Maturity (YTM) of Various Maturities Yield to Maturity, the book yield or redemption yield of a bond or other fixed
–interest securities, is the
internal rate of return an investor will earn when he purchases the bond today at the market price, provided that the bond is held until maturity and that
all coupon and principal payments are made on schedule. (Fabozzi, 2007) Taking into account the clean price of some of the securities and using the
YTM formula in Excel, YTM of various on–the–run Treasury bonds are obtained. Maturity Coupon (%)CUSIPCMBIssue DateMaturity
DatePrice($)YTM (%) 4–Week0912796CC1 No13/02/201413/03/20141000.000 13–Week0912796CM9 No13/02/201415/05/201499.990.040 0.5
Year0912796DQ9 No13/02/201414/08/201499.960.080 1–Year0912796DG1 No06/02/201405/02/201599.890.1101 2–Year0.375912828B41 No31/01
/201431/01/2016100.120.318 3–Year0.625912828A91 No15/01/201415/01/201799.790.702 5–Year1.50912828B33 No31/01/201431/01
/201999.981.505 7–Year2.125912828B58 No31/01/201431/01/202199.832.151 10–Year2.75912828B66 No18/02/201415/02/2024100.132.735
30–Year3.75912810RD2 Yes15/01/201415/11/2043101.163.685 Formula: P=(C/y) (1
–1/ (1+y) ^n) +F/ (1+y) ^n where P is price, C is coupon
payments, F is face value, y is the yield to maturity and n is the number of 6–month periods. Interpolated Treasury Yield, Spot rates and Forward Rates
After that, based on the market yields on U.S. Treasury securities
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The Department Of Alcohol, Tobacco, And Firearms
For our third assignment for Criminal Justices we must answer questions about the Bureau of Alcohol, Tobacco and Firearms, U.S. Marshals Service,
and U.S. Drug Enforcement Administration. We must answer the following question: What are the mission or goal of these agencies? When were
they established? Briefly discuss each of the agencies history. Discuss some of the difference between these agencies. The first agency is called the
Bureau of Alcohol, Tobacco and Firearms. The mission for the ATF is a "Law enforcement agency in the United State Department of Justice that
protects our communities from violent criminals, criminal organizations, the illegal use and trafficking of firearms, the illegal use and storage of
explosives, acts of arson and bombings, acts of terrorism, and the illegal diversion of alcohol and tobacco products". They partner with communities,
industries, and public safety agencies to protect the public they serve through information sharing, training, research and use of technology. ATF was
established on July 1, 1972. The ATF was formerly part of theUnited States Department of the Treasury, which had been formed in 1886 as the
"Revenue Laboratory" within the Treasury Department 's Bureau of Internal Revenue. ATF is the youngest tax
–collecting Treasury agency, separated
from the Internal Revenue Service by Treasury Department Order No. 120–1, since 1 July 1972. Also, in 1789 under the new Constitution, the first
Congress imposed a tax on imported
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Declaration Of Independence Analysis
What Should Have been Included
My complaint is that they should have implemented in the Declaration of Independence that all citizens of the southern United States of America be
free from all forms of slavery, not just physical slavery. That we were to be given our birth rights back and act as citizens of theUnited States of
America and not commodities or a corporation so to speak. What I'm saying is United States citizens are still enslaved from birth. The federal
government holds our birth certificates in reserves because in 1913 the United States got short on cash by the end of World War 1. The country
needed to print more money that they had to get the country back on their feet. A few years later about 20 years I say the county went ... Show more
content on Helpwriting.net ...
Merriam–Webster Dictionary of law of 1966. Birth certificates now appear to at least qualify as "warehouse receipts" under uniform commercial
code. Black's Law Dictionary, 7th edition defines a warehouse receipt, which is considered a document of title, may be a negotiable instrument and
is often used for financing with inventory or security. Now once our birth certificate is registered by the state with the US Department of Commerce,
they notify the Treasury Department that takes out a loan for the Federal Reserve. The Treasury uses the loan to purchase bond. The federals holds a
purchase money security interest in the bond from commerce which invests the sale in the stocks and bonds market. The Treasury issues out bonds,
notes, and bills using bonds as surety for new securities. The cycle is based on the future tax revenues of the legal person whose name appears on the
birth certificate. Which means the bankrupt, corporate US can guarantee to the purchasers of their securities the lifetime labor and tax revenues of
every US citizen with a birth certificate as collateral payment. It's simply converted by lawful, true name of the child into
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A Brief Note On Non Profit Tax Compliance
Non–Profit Tax Compliance
Unlike for–profit businesses, the focus of a nonprofit is not on gaining profits for shareholders and owners, but to fulfil a charitable mission for the
benefit of the public. Because of this mission focus, the IRS has recognized these organizations as exempt from the federal income tax that is placed on
for–profit businesses and individuals. This recognition is not automatic and is not guaranteed. Nonprofit organization must still follow the rules and
regulations set forth by the IRS and the U.S. Government regarding tax compliance. If these rules are not followed, a nonprofit organization could lose
their tax exempt status.
A charitable focus does not mean that money is not involved. In fact, nonprofit ... Show more content on Helpwriting.net ...
501(c)(3) Organizations
Charitable organizations are formed for many different purposes, but in order to be eligible for tax exempt status, a nonprofit organization must meet
the description of one of the forms described in The Internal Revenue Code of 1986 В§501(c). According to I.R.C. В§501(c) there are 29 different
sections through which a nonprofit organization can be eligible for income tax exemption. The most commonly used exemption is described in I.R.C.
В§501(c)(3) which accounts for 1.11 million of the total 1.72 million organizations that are exempt from tax (Fishman, 2015). Because these
organizations are governed by В§501(c)(3) of the tax code, they are referred to as 501(c)(3) organizations (Fishman, 2015).
501(c)(3) qualifications
Over half of all tax–exempt nonprofit organizations are considered 501(c)(3) organizations (McKeever, 2015). I.R.C. В§501(c)(3) provides a thorough
description this tax exempt organizational form:
Corporations, and any community chest, fund, or foundation, organized and operated exclusively for religious, charitable, scientific, testing for public
safety, literary, or educational purposes, or to foster national or international amateur sports competition ...or for the prevention of cruelty to children or
animals... (I.R.C. В§501(c)(3)).
This form is widely used and encapsulates what many people think of when they think of a nonprofit, including charities, foundations, hospitals, and
qualifying
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Treasury Bonds And The National Debt
Daniel Hysinger
US Treasury Bonds and the National Debt
The U.S. Treasury bond is a low interest way for the government to borrow money. The bond, along with Treasury notes and bills, form the Securities
which the Federal government borrows from lenders for a set amount of time. Issued by the Department of the Public Debt, a subset of the US
Treasury, they are usually issued in 30–year maturities which pay interest twice yearly. Because the debt obligation is backed by the tax–generating,
money printing, and understandably trusted government of the United States, bonds are generally considered to be a safe or virtually no–risk
investment. Thanks to this low risk attribute however, bonds are regarded as very low–yield security, which is exactly why it is a good instrument for
the United States government to employ, as long as it can turn a relatively decent profit on the initial investment. According to the September 30th,
2014 report of Monthly Statement of the Public Debt of the United States, the amount of Treasury Bonds outstanding totaled $8,167,759 million, I'll
call it roughly $8.2 trillion. This number composes the majority of the combined $12.7 trillion of US Treasury securities outstanding. These securities
outstanding are also known as the national debt. The numbers listed above, and throughout this paper will disregard debt being owed to
intra–governmental holdings of the US, as bonds make up a minuscule (in comparison, only $7.6 million) fraction of what they
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Essay on Reducing the National Deficit
Reducing the National Deficit
Many United States' citizens are unaware of the country's current financial state. Many assume that one of the world's wealthiest countries could never
be in debt. This is untrue however, and, in fact, the country with the greatest income per capita is in major debt. This study will examine possible
solutions to reducing the United States' national budget deficit.
Understanding the National Deficit
The amount of money that the United States government owes as of October 17, 2004 at 03:48:52 pm GMT was $7,435,016,998.21. The debt has
increased by an average of $1.7 billion per day since September 30, 2003! From a more individual perspective, currently the United States population is
roughly around ... Show more content on Helpwriting.net ...
The debt skyrocketed to an astounding $279 billion by the year 1946.
When World War II ended in 1949, the debt grew at a slow and steady pace for the next 20 years. When the Vietnam War began in the 1960's the debt
accelerated sharply. Thanks to the growth of television and news media, growth of the deficit was widely publicized. For the first time, the American
people were given access to what was going on with the nation's debt. When the Gulf War began the early 1990's, the national debt reached a trillion
dollars for the first time. By the end of the Gulf War, the government decided to make amendments to fix the continuing problem with the deficit.
Despite those promises to reduce spending, the debt is currently at it highest point ever.
Who is the Nation Indebted to?
The United States borrows money from individuals that have bought Treasury Bills, Notes, Bonds, and United States Savings Bonds. The U.S.
government also borrows money by issuing Treasury securities. These securities finance expenditures that exceed its receipts, and are legal under the
authority of the Second Liberty Bond Act. The government's primary source of income is through taxes paid by its citizens. Supposedly, money is
spent on programs that government officials consider necessary to ensure the best quality of life for all (or at least the majority) of the nation's citizens.
The combination of these amounts is what makes up the national
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Alexander Hamilton: The First Bank Of The United States
With the ending of the American Revolutionary War, many men emerged as distinguished leaders. Some of these men included George Washington,
the first President of the United States, Thomas Jefferson, the third President of the United States and primary writer of the Declaration of
Independence, and Benjamin Franklin, who served in the Second Continental Congress and helped to draft the Declaration of Independence. One of the
most significant leaders was Alexander Hamilton. Born from humble beginnings, this immigrant to America made some of the most significant
contributions in the shaping of the United States. Hamilton's accomplishments included being a contributing member of the Continental Congress,
co–writing the Federalist Papers, being ... Show more content on Helpwriting.net ...
This would help to stabilize the nation's economy. The First Bank of the United State was established, allowing the regulation of credit and banking
facilities nationwide. However, this bank did not have complete support and in 1811 when the bank's charter was up for renewal, it was not approved
by the Senate and the First Bank of the United States was closed. The war of 1812 highlighted that without a central bank, the Treasury Department
struggled to finance the war. It was because of this struggle that in 1816, the Second Bank of the United States was established. Over the next twenty
years, the Second Bank reduced the national debt, stabilized exchange rates and aided in national economic growth. As with its predecessor, the
Second Bank of the United States closed at the end of its 20–year charter in 1836 due to lack of support in the Senate. Another Federal bank, the
Federal Reserve, would not be established until 1913. It is with this third establishment of a national bank that economists recognized that Hamilton's
design was sound. The Federal Reserve continues to regulate the U.S. banking system
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The Department Of Homeland Security
The Department of Homeland Security The Department of Homeland Security is an agency made up of 22 different federal agencies which were
combined in an effort to streamline the United States effectiveness in defending our nation. The core mission of the Department of Homeland Security
include prevent terrorism and enhancing security, secure and manage our borders, enforce and administer our immigration laws, safeguard and secure
cyberspace, ensure resilience to disasters (Department of Homeland Security, 2015). The Department of Homeland Security was created in response to
attacks that occurred on the world trade center on September 11 2001. The attacks on the world trade center would change the how the United States
viewed terrorism and... Show more content on Helpwriting.net ...
Tom Ridge would be appointed by President George W. Bush to the position of Director of the Office of Homeland Security. Tom Ridge previously
a member of the House of Representatives and Governor of the state of Pennsylvania. Would serve as the Director Homeland Security until 2005.
The Department of Homeland Security would begin in after the attacks on the United States. The Office of Homeland Security and the Homeland
Security Council would be officially created by President George w. Bush on October 8, 2001 with the issuing of Executive Order 13228
(Federation of american scientists, n.d.). The Department of Homeland security would be made official by the Homeland Security Act of 2002.
The bill was passed by congress and signed by President George W. Bush in 2003. AGENCIES There were 22 agencies that made up the
Department of Homeland Security, This will give a brief overview of the agencies and what they do. The U.S. Customs Service dating back to the
revolutionary war, tasked with collecting tariffs on incoming goods for from foreign countries. The Immigration and Naturalization Service
established in 1864 as a federal immigration agency. In 1933 the new Immigration and Naturalization Service was made by Executive Order 6166
signed by President Franklin Delano Roosevelt as member of the department of justice (LERNER, 2004). The Federal Protective Service origins
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Alimony Payment Research Paper
Alimony is a court order payment made under a divorce or separate maintenance decrees between former spouses. Payments are considered alimony
when you no longer file a return with your former spouse, the payment is received in cash, the payment is received by your former spouse, if the
divorce or separation agreement doesn't not state that the payment is alimony, or you and your former spouse no longer live together. Payments must
stop after former spouse's death and the payment is not treated as child support or a property settlement. Not all payments under a divorce or separation
instrument are considered alimony such as child support, noncash property settlements, or any other voluntary payments not required by the separation
agreement. [IRC... Show more content on Helpwriting.net ...
If one is subjected to this rule, they must include part of the alimony previously deducted in their income in the third year. While the ex–spouse can
deduct part of the alimony payments they previously received from their income in the same time period. The three–year period begins once the
alimony payer has made a qualifying alimony payment under a divorce decree. Reasons that can require a recapture include a change in your
divorce or separation instrument, a failure to make timely payments, a reduction in ability to provide support, or a reduction in your former spouses
need for support. A taxpayer is subject to the recapture rule if the alimony paid in the third year decreases by more than $15,000 or the alimony paid
in the second and third years decreases significantly from alimony paid in the first year. When calculating decreasing alimony one cannot include
payments made under a temporary order, payments required over a period of at least 3 calendar years that may vary (for example, income from a
rental property), or payments that decrease because of the death of either spouse or a
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Washington's Cabinet Essay
department in his cabinet was the department of state. The Department of State was made to work on foreign policy issues and to negotiate treaties
and agreements. The Department of War was another one set up by Washington. It was changed to the Department of Defense in 1947 because the
Department of War made it seem like we always wanted a fight. The Department of War was made to have control of all things military. They kept the
troops in check and told the president how the troops were acting. The final one Washington made was the Department of the Treasury. The Department
of Treasury tells the president the financial state of the United States, commands the Secret Service, and authorizes the printing of the United States
Postal Service stamps ... Show more content on Helpwriting.net ...
The precedents he set shaped the future generations of presidents. Some presidents did not follow his precedents though. Franklin Roosevelt broke the
two–term precedent (Presidential Precedents Stockwell). The oath taking had pretty much stayed the same all though history. The cabinet has improved
exponentially though. Today we have fifteen different Departments in the cabinet. The Departments are the Department of Agriculture, Department of
Commerce, Department of Defense (War), Department of Education, Department of Energy, Department of Heath and Human Services, Department of
Homeland Security, Department of Housing and Urban Development, Department of the Interior, Department of Justice, Department of Labor,
Department of State, Department of Transportation, Department of the Treasury, and the Department of Veterans Affairs (The President's Cabinet Fact
Monster). The president elects at least one in each Department and a few more in others. The Senate must approve of the president's cabinet members
every time that the president chooses a new one to join. The precedent that George Washington set about Mr. President is still in use today. These
precedents were used back then, are being used today, and most likely will be used for the rest of
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History Of Atf
The ATF was formerly part of the United States Department of the Treasury, having been formed in 1886 as the Revenue Laboratory within the
Treasury Department's Bureau of Internal Revenue. The history of ATF can be subsequently traced to the time of the revenuers or revenoors and the
Bureau of Prohibition, which was formed as a unit of the Bureau of Internal Revenue in 1920. It was made an independent agency within the Treasury
Department in 1927, was transferred to the Justice Department in 1930, and became, briefly, a division of the FBI in 1933.
When the Volstead Act, which established Prohibition in theUnited States, was repealed in December 1933, the Unit was transferred from the
Department of Justice back to the Department of the Treasury where it became the Alcohol Tax Unit (ATU) of the Bureau of Internal Revenue. Special
Agent Eliot Ness and several members of The Untouchables, who had worked for the Prohibition Bureau while the Volstead Act was still in force,
were transferred to the ATU. In 1942,... Show more content on Helpwriting.net ...
Bush signed into law the Homeland Security Act of 2002. In addition to the creation of the Department of Homeland Security, the law shifted ATF
from the Department of the Treasury to the Department of Justice. The agency's name was changed to Bureau of Alcohol, Tobacco, Firearms, and
Explosives. However, the agency still was referred to as the "ATF" for all purposes. Additionally, the task of collection of federal tax revenue derived
from the production of tobacco and alcohol products and the regulatory function related to protecting the public in issues related to the production of
alcohol, previously handled by the Bureau of Internal Revenue as well as by ATF, was transferred to the newly established Alcohol and Tobacco Tax
and Trade Bureau (TTB), which remained within the Treasury Department. These changes took effect January 24,
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The Importance of The Bureau of Alcohol, Tobacco, and...
The Importance of The Bureau of Alcohol, Tobacco, and Firearms
The Bureau of Alcohol, Tobacco, and Firearms is one of the most important Federal Agencies we have. It is dedicated to reducing violent crime,
collecting revenue and protecting the public. The ATF, for short, has many different programs for alcohol, firearms, arson and explosives, and
tobacco. The ATF has a long background starting in 1789. It serves a huge function to keeping illegal alcohol and guns off the streets. The ATF is in
the news a lot for different reasons. It is a large agency with tremendous power. The ATF roots have been around for hundreds of years. It all started in
1789, when the first congress imposed a tax on alcohol to pay for a war ... Show more content on Helpwriting.net ...
In 1940 the FAA as and merged with the ATU. In 1952 the Bureau of Internal Revenue was dismantled. All of its alcohol or tobacco related issues went
to the ATU. The Bureau was renamed theInternal Revenue Service, the IRS. The IRS renamed the ATU the Alcohol and Tobacco Tax Division. When
the Gun Control Act was passed in 1968 it gave them the responsibility of firearms. Because of this it was renamed to the Alcohol, Tobacco, and
Firearms (ATF) Division. This is the ATF we know today. The government funds it and they get money taxes collected from alcohol, tobacco, and
firearms retailers. It is broken down into four major parts. There are the Alcohol Programs, Tobacco Programs, Firearms Programs, and Arson &
Explosives Programs. The Alcohol Division is responsible for approving certificates of label approval (COLAs) for alcoholic beverages. They way
it works is that it gets money for every barrel or can of alcohol. They regulate the alcohol industry. They issue alcohol permits and work to keep
criminals out of the business. The Tobacco Division works about the same. It uses money given to them by taxes and permits. The job of the Tobacco
Division is to ensure the collection of tobacco taxes and to qualify applicants for permits to manufacture or import tobacco products or to operate
tobacco export warehouses. The Firearms division investigates armed violent offenders and career criminals, narcotics traffickers, narco–terrorists,
violent gangs, and domestic and
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Argumentative Interview Narrative
This memo describes the informative interview conducted on February 28, 2017, with Mrs. Delores Fulton, who is a manager of the Internal Revenue
Service. This interview took place at a restaurant and approximately lasted for 30 minutes. My memo gives information on Mrs. Fulton's professional
background, how she obtained her position at the Internal Revenue Service, and shares what skills and qualities an accountant must have.
Interview Background:
As an accounting major at the J. Mack Robinson College of Business, I chose to conduct my interview with an Internal Revenue Service manager.
The goal of this interview was to seek career advice from a seasoned professional, Mrs. Fulton, and how she became very successful in her position. I
was also eager to know what skills and qualities are needed to be an accountant.
To begin, here is a short biography about her. Mrs. Fulton is a... Show more content on Helpwriting.net ...
It helped me get some information about my future profession and what qualities and skills I need to become very successful in this field. To recall
Mrs. Fulton's professional background, she is a native of South Carolina, obtained her Bachelor's Degree in Accounting and Master's Degree in
Finance. She obtained her job by writing her name on a federal roster for government jobs. The Internal Revenue Service called her and she had
received the position of a revenue agent. From that position, she became a teacher for the IRS, teaching tax law. Later, she is now one of the managers
at the IRS. The key advice that she gave me is to always embrace new challenges so that you can grow as a person. Along with this, she also told me
what qualities and skills an accountant should have. An accountant should be open–minded, hardworking, dedicated, be an analytical thinker, be
self–motivated, and can be able to direct others. From this interview, I have gained incredible knowledge of what I need to do for my future
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The US Securities and Exchange Commission (SEC) Essay
Introduction The US Securities and Exchange Commission (SEC) is the US federal agency that holds the primary mandate to enforce federal securities
laws and regulations to control the securities industry and the country's stock exchange and regulation of all activities and organizations including the
US electronic securities market. The SEC is committed to promoting a market environment that yields public trust characterized by integrity to attain
its mission of protecting investors through maintenance of fair and efficient markets through facilitation of capital information (Basagne, 2010). The
SEC financing is a major area of focus since there has been major concern regarding the SEC agency financing and whether they utilize the... Show
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Salaries and expenses collections are dedicated to implement SEC mission, functions and day–to–day operation in accordance with the congress
established limits. Law categorizes excess collections in salaries and expenses categorized as non–budgetary fund managed by the treasury. Another
budget resource in the form of funds from dedicated collections is the investor protection Fund. The fund is a dedicated collection that offers
funding for whistleblower awards. This fund is financed by part of the monetary sanctions accrued by SEC in administrative and administrative
actions by the SEC. The Reserved Fund On the other hand, the Reserved Fund is a portion of the registration fee SEC collects which amounts to over
$50 Million in each Fiscal year and is deposited in the reserve fund. The balance for the reserve fund cannot exceed $50 million (Becker, 2012). The
fund incorporates dedicated collections that SEC obligates up to $100 million in each fiscal year with the agency determining the use for which the
fund is applied. The Miscellaneous Receipts Accounts Another budget resource for the SEC is the Miscellaneous Receipts Accounts. This account
holds non–entity accounts and receipts sought from the custodial activities of the SEC that the agency couldn't make deposits into the funds it has
jurisdiction over. These forms of account include money accrued from registration fees in excess amounts that is deposited into
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Responsible Corporate Officer Doctrine For The Health Care...
Compliance Officer Response It is often recommended for (HCO)'s to have a corporate compliance plan to be more efficient, reduce errors, and not
have small errors turn into large errors. As (OIG) it's a necessary and fundamental need to incorporate a corporate compliance plan to have for staff and
management to stay organized and lessen the chance of fraud, waste, and abuse in the company. Stated by, (Cleverly, Song, & Cleverly, 2011), it is
effective only if it includes management support, effective communication, continuous monitoring, and individual accountability. All these aspects are
a continual monitoring requirement as long the corporate compliance is in place for the duration. Responsible Corporate Officer Doctrine– Question 3:
10 minutes 3.)What important aspects do you find in the Responsible Corporate Officer Doctrine to be beneficial for the health care organization?
Any changes to the (HCO) to be implemented with the use of the Doctrine? The critical aspects in the Responsible Corporate Officer Doctrine that are
beneficial for the health care organization are in many ways. There are provisions that comprise the (RCO) and protect in making the health care
organization aware in cases of severe punishment of liability. According to (Clark, 2012), the (RCO) it states that the doctrine has been aggressively
used and applied by regulators and prosecutors against businessmen in various administrative, civil, and criminal procedures, and has been described as
the
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The Treasury Department 's Actions
The Treasury Department's Actions
During the largest recession the United States has seen since the great depression, the Treasury Department sprung into action to stave off another
depression. Within a short period of time after the housing bubble burst, financial institutions started to fail. Credit and liquidity virtually vanished
within days. The government was forced to react quickly to thwart a complete financial collapse. An estimate from the public interest group Better
Markets has calculated the cost of the recession close to $12.8 trillion (Puzzanghera, 2012). This number is criticized since it includes losses in
economic output, GDP, and bail–outs, while home equity losses and consumer net wealth are not. This figure does give a good idea of the magnitude
of the Treasury Department's actions. A multitude of industries, and companies received direct financial aid. The government identified key economic
areas where policies were needed, and provided credit and liquidity for growth in those areas. The quick response of the Treasury Department helped
in reducing the negative effects of the financial crisis. The three economic theories that I identified in this financial crisis consist of classical economics,
Keynesian economics, and aggregate market (AS–AD) analysis. There was also a fear of monetarism which has not come to fruition at this time.
Economic Theories
Classical economics is considered one of the original economic theories. It is based on the
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Secretary Of The Treasury Essay
The Department of the Treasury is the executive department that deals largely with creating policies that will be beneficial to the United States
economy and the government's finances. The responsibilities of the Department of the Treasury include paying the bills for the federal government,
collecting taxes from the citizens, borrowing and lending money, creating currency, and supervising the national banks (Sidlow). The duties of the
secretary of the treasury affect all United States citizens' everyday lives due to the fact that he or she is dealing with all taxes and currency in the
nation. Anyone who is receiving benefits from the federal government would be affected by changes or creation of any policies. The secretary of the
treasury... Show more content on Helpwriting.net ...
The secretary of defense, who heads the Department of Defense, comes second in power over the military. The first and most important job of the
secretary of defense is to keep the country protected from terrorist attacks. We often take for granted the security of our nation, but there are people
working around the clock in order to keep the country safe. Next, the department of defense also locates and punishes any terrorists who attack which
is a difficult and dangerous task. As the secretary of defense, it is his or her duty to ensure that each branch in the United States military is well
trained and prepared for any obstacle that they may face whether it be planned or unforeseen. The secretary of defense also ensures that these men and
women in the armed forces are well–equipped to do their jobs (Ruffin). There seems to be a high failure rate among those who have served as the
secretary of defense. Are these secretaries actually failing at their job, or are they reaching toward the impossible goal of trying to keep each and
every American citizen safe from terrorist attacks on our nation? Many of these secretaries are let go by the president due to a lack of confidence in
them (Stevenson). The ideal secretary of defense would need to be skilled in politics, leadership, relationships, and many other areas, but someone
who is exceptional in all areas would be nearly impossible to find. Because perfecting the position as secretary of defense is nearly impossible since
the safety of the entire nation is in their hands, we often see this resulting in disappointment toward the
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Iran Case Study
Moving on to my second point, I would like to discuss the nature of the sanctions implemented on Iran due to the nuclear issue more in detail so
we can get a better realization of what the public civilians in Iran have gone through. It is worth mentioning that Iran has been facing sanctions with
respect to the selling of any aircraft and any parts related to them and even the maintenance and inspection of airplanes since 1979. Regardless of
the reasons behind it, for a moment let's imagine how would it be if only one of us, set aside a group of 200 or more passengers consisting of
children and women, were to fly on an airplane that was at least 36 years old, and the parts on it had been smuggled through back–channels and
proxies and there... Show more content on Helpwriting.net ...
As a case in point, I can personally, as someone who has witnessed these tough situations firsthand, tell you that all costs and prices, from the price
of a bottle of milk or a loaf of bread to the cost of going from one end of the city to the other, more or less doubled due to the sanctions. Again I
would like to encourage you to just imagine how terrible would it be if the cost of transportation or anything else in New York City were to double
over night.
All the above–mentioned on one side, the trouble of not being able to purchase certain medicines and foods on the other was the most painful of all.
Officially, the imposers of these sanctions had excluded the purchase of medical supplies and certain food from the sanctions; however, here is a part
of a recent study by the Washington DC–based Woodrow Wilson International Center for Scholars:
"Even when the most reputable American and European pharmaceutical companies are involved, and their lawyers have completed all the necessary
paperwork from the US Treasury's Office of Foreign Assets Control (OFAC), nearly all banks thatIran deals with prefer to err on the side of caution.
Their hesitation is understandable given that a mistake could earn a bank the wrath of the US Treasury Department and fines that exceed $1 billion.
The recent experience of a reputable Iranian pharmaceutical group shows the magnitude of the problem. When a senior company representative flew to
Paris to present a French bank with documentation
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Case Report for Midland Energy Resources, Inc: Cost of...
1. For what purposes does Mortensen estimate Midland's cost of capital? What would be the potential consequences of a too high estimate compared to
the firm's "true" cost of capital? What about a too low estimate?
The purpose is that the cost capital will be used for capital budgeting, financial accounting, performance assessment, stock repurchases estimations. Also
the cost of capital is a necessary basis for the expected growth and forecasted demand.
The too high estimated cost of capital means that Midland may miss out on investment opportunities and will under value the investment at hand.
Furthermore, it is possible for shareholders to see a lower return on their investment. On the other hand, a too low estimated cost of capital ... Show
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To relever the ОІe, we use the formula, ОІe = ОІu +(D/E)*(ОІu–ОІd). And the "Target D/E" was found by taking "Target D/V" divided by "1
–Target
D/V". So we get the new ОІe, 1.3576. Then to get cost of equity, we use the CAPM formula, Re=Rf+ОІ(EMRP), 11.7679%. Since we have get the cost
of equity and cost of debt, we can determined the WACC, which is equal to Equity/Value*Cost of Equity+Debt/Value*Cost of Debt*(1
–tax rate). In the
end ,we arrived at 8.48%. Midland's choice of market risk premium of 5% does appear to be an appropriate selection in this instance. From exhibit
6, we found that this EMRP is lower than the historical data of U.S. stock returns minus Treasury bond yields and is higher than the market risk
premium from the survey results. So we recommend that the risk premium rate can be narrowed between 4.8% to 5.6%. 4.8% is the lowest of higher
EMRP while 5.6% is the highest of the lower EMRP. In a word, our team think that 5% is a reasonable market risk premium.
3. Should Midland use a single corporate hurdle rate (i.e. a firm–wide WACC) for evaluating investment opportunities in all of its divisions? Why or
why not? I do not think it is proper. Since hurdle rate is the key factor to determine whether we should accept a project, it is concerned with a specific
investment opportunity belonging to a division. As we can see in Table 1, each of Midland`s divisions had its own target debt ratio. Those
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Analyzing The Demand Of The Bidders And Auction Results
Nyborg et al (2002) conduct their study by analysing the demand of the bidders and auction results in Swedish Treasury auctions during uncertainty at
the time of when the bidding occurs. They find that bidders respond to uncertainty in three separate ways; as uncertainty increases, bidders reduce the
price levels at which they want to bid, they reduce quantity demanded and bidders also increase bidding dispersion amongst the same bond. Nyborg et
al also deem auction size to be a less important factor than price uncertainty in how it influences the bidders behaviour even though as the auction size
increases, bidders increase their individual demands. They also suggest that cautious bidding involves both a reduction in prices and a reduction ... Show
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Ahmad and Steeley (2007) further examine a type of price discovery in the bond market review the types of markets there are, i.e. primary or
secondary bond market, by specifically examining the secondary market. Their objective is to review the secondary market pricing behaviour of U.K
bond auctions by using an event study to test the statistical significance of auctions on the secondary market bond prices. In their event study, they use
the price movement that is associated with a level change in the zero coupon yield curve as an appropriate benchmark.
Whilst running the regressions on the cumulative average abnormal returns (they refer to them as CAR(–x, x) ) they focus on three scenarios found in
earlier yield drift testing, which takes place during 6 days before the auction, on the auction day and up to 8 days after the auction (CAR(–6,–1),
CAR(0,0) and CAR(+1,+8)). They find there is a negative average return in the post auction period. They also find the most significant variables in
explaining bond prices, from their regression modelling, are the cover and size of the auction.
There is also a positive association between the cover variable and the pre–auction CAR, which means that the greater the demand for gilts at an
auction, the greater the abnormal returns. Cover and post–auction CAR are negatively associated showing that the greater the excess demand at an
auction, the smaller the
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Savings Bonds: Our Nation's Financing Solution
Savings Bonds: Our Nation's Financing Solution
Savings bonds were introduced to give the nation's public an opportunity to participate in government financing while having a form of secure savings
that was designed to withstand market conditions. Previous forms of Treasury securities that had been offered were vulnerable to market fluctuation. In
1935, the United States Treasury started to sell non–marketable savings bonds and they have been sold continuously since then. During the Great
Depression, the unemployment rate had started to rise and reached 25 percent. In 1935 it fell to 17 percent with most of the new jobs being part–time
positions as opposed to full–time positions. In the same year, the government decided to start several programs that would be costly and were designed
to decrease the current unemployment crisis. The government ... Show more content on Helpwriting.net ...
Eugene Sloan as the Division Chief and Mr. James Bryan as his assistant. They were in charge of publicity and sales promotion of the US Savings
Bonds. It was evident that the savings bonds were a profitable program therefore it was necessary that they be universally marketed and available.
Only being available through the US Post Office placed limitations on the public in terms of service and availability. The Treasury decided to look to
the banking industry for help. Adding savings bonds to banks seemed like a natural step so the public could purchase them while making other
financial transactions at their bank. Soon the Treasury made savings bonds available for purchase through payroll deduction. This presented itself as a
hassle–free method for the public to buy the savings bonds without having to visit their bank or a post office. The WarFinance Division and its
predecessors were responsible for nearly $186 billion of savings bonds sales. This was a huge contribution to the government war
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War Refugee Board Analysis
The War Refugee Board, established through Executive Order 9417 on January 22, 1944 by Franklin D. Roosevelt, was tasked with the "immediate
rescue and relief of the Jews of Europe and other victims of enemy prosecution" (United States Holocaust Memorial Museum et al. 2014). The War
Refugee Board was initially headed by John Pehle, later seceded by William O'Dwyer who served as the director of the WarRefugee Board from
January 1945 until the board's dissolution in September 1945.The War Refugee board is credited with saving the lives of 200,000 Jews and an
estimated amount of 20,000 non–Jews as well as increasing public knowledge within the U.S. in regards to the treatment of the Jews in Europe.
The War Refugee Board is additionally credited... Show more content on Helpwriting.net ...
government divisions as well as the time constraints placed on the War Refugee Board additionally hindered the overall success of the board. The
War Refugee Board was never able to fulfill the responsibilities given, due to the overall lack of cooperation extended by theUnited States. At the
initially creation of the board, the War Refugee Board was given much authority as well as the guaranteed cooperation of all U.S. government agencies.
The most important of which were the State, Treasury, and War departments. Despite the expected cooperation of all U.S. departments, only the
treasury led by Treasury Secretary Henry Morgenthau Jr. contributed. The Office or War Information's psychological warfare experts and the Overseas
Planning Board, the State Department, and the Joint Chiefs of Staff had repeatedly rejected proposals for exploiting publicity on Nazi atrocities against
Jews. Within the State Department specifically, urgent War Refugee Board messages were consistently delayed, awaiting clearance. The War Refugee
Board, unable to find assistance from departments within the United States, was forced to rely of cooperation from diplomatic and military
bureaucracies, which were often resistant to provide assistance. The lack of cooperation in regards to the U.S. Departments was not only visible with
the interactions between various U.S. departments and the War Refugee Board, but within the interactions that occurred between the various
departments themselves. Tensions developed between the State Department and the Treasury Department over a proposal from the World Jewish
Congress to fund relief for Jews in France and Romania and the evacuation of Jews from Romanian–occupied Transnistria, in which the Treasury
Department accused the State Department of purposely delaying support. The lack of unity within the U.S. government was especially visible in the
United States' approach in regards to the victims of Nazi oppression.
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Roles of the Office of Terrorism and Financial...
The Office of Terrorism and Financial Intelligence, or T.F.I., is said to be the most important national security agency in the U.S. government. The
Office of Terrorism and Financial Intelligence operates the department's intelligence and enforcement functions with the aims of protecting the
financial system against illicit use and combating rogue nations, terrorist facilitators, weapons of mass destruction (WMD) proliferators, money
launderers, drug kingpins, and other national security threats.
Terrorism and Financial Intelligence develops and implements U.S. strategies to combat terrorist financing domestically and internationally, develops
and implements the National Money Laundering Strategy as well as other policies and programs ... Show more content on Helpwriting.net ...
positions, represent the U.S. at FATF meetings, and effectuate actions domestically.
Protecting Charitable Organizations from terrorist abuse is a dire piece of the world's fight against terrorism. Charities provide essential services,
comfort, and hope to those in need everywhere. Unfortunately, terrorists have exploited the charitable sector to make and move funds, provide
logistics, encourage recruitment, or support terrorist organizations and operations. This abuse threatens to undermine donor confidence and
compromise the integrity of the charitable sector, whose services are indispensable to the world.
Terrorist Finance Tracking Program (TFTP) was developed after the terrorist attacks on September 11, 2001 to identify, track, and pursue terrorists,
such as Al–Qaida and their networks. Since that time, the TFTP has provided valuable leads that have assisted in the prevention or investigation of
many of the most visible and violent terrorist attacks of the past decade.
In 2004, Congress passed the Intelligence Reform and Terrorism Prevention Act which created the Office of the Director for National Intelligence
(DNI) to oversee and coordinate all intelligence collection in order to advise Congress and the White House. The result of this reorganization, the
director of the CIA no longer reports directly to the president.
Here is an outline of how the Offices work together. No other finance association in the world has an operation quite like TFI, an
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Tax Inversion And The United States Government
Americans may ponder the thought of struggling economy barely gaining momentum while corporations have witnessed some of the largest quarterly
profits ever recorded. The driving force behind the extreme profits gained by many corporations is simply put as tax inversion. Tax inversion is nothing
more than an American firm combining with a foreign firm in a country with beneficial and lucrative tax laws (Financial Times, 2014). The American
headquarters will now be moved to the new foreign firm where they will enjoy the lower taxes and evade the taxation of the United States government
(Financial Times, 2014). More and more American firms have been taking advantage of inversion while still being able to enjoy sales in the American
market. ... Show more content on Helpwriting.net ...
Treasury, 2014). The treasury department has taken steps along with theinternal revenue service to build a policy is reducing the economic benefits
firms receive from inversion (U.S. Treasury, 2014). The first step looked at by the treasury department would construct a restrictive technique to
end creative techniques used by firms to avoid American taxation (U.S. Treasury, 2014). The Obama administration; with consent from Congress is
reviewing ways to help implement laws giving the Treasury department and Internal Revenue Service more teeth in implementing policy firms will
obey and follow (CNN, 2014). The Treasury Department policy is a first in effectively ending the "hopscotch" tax game. Hopscotch procedures is
when a firm gets out of paying taxes on their foreign profits brought back to the United States. The firm simply takes the profits and in the form of a
loan subsidy lends it to the new foreign parent company firm "hopscotch" over the taxes while the firm reaps the financial rewards tax free (CNN,
2014). The new policy will consider "hopscotch" loans property of the United States and taxable no matter of where the loan subsidy ends up (CNN,
2014). Along with taxing offshore hopscotch loans the treasury department is looking to cut off inversion indefinitely from happening in the first place.
The two rules implemented would follow as one; the United States Company cannot slim down the firm before merging (CNN, 2014). Most dividend
holders see extremely high
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The Federal Reserve
Now the following information is well documented and is presented for your review and edification. Do not try to fight the IRS in federal court, you
will not win. The deception runs rampant throughout the executive, legislative and judicial branches. Now let us begin with the admission of the US
attorney general that the IRS is not an agency of the Federal Government. What they actually admit it?...why yes they do in (Diversified metal Products
v. IRS etal. CV–93–405E–EJE U.S.D.C.D.I.) You can click on the citation for a complete text of the discovery document and I refer you to discovery
question No. 4 on page 2 where the attorney general specifically denies that the IRS is an agency of the Government. Holy cow! The IRS is not... Show
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Notice what is missing from their reply. They leave out critical definitions that are very important to the truth of the matter. http://www.irs.gov
/businesses/small/article/0,,id=106508,00.html The Law: There is a host of constitutional and statutory authority establishing that the Internal
Revenue Service is an agency of the United States. The U.S. Supreme Court stated in Donaldson v. United States, 400 U.S. 517, 534 (1971), "[w]e
bear in mind that the Internal Revenue Service is organized to carry out the broad responsibilities of the Secretary of the Treasury (Notice they do
not define Secretary) under В§ 7801(a) of the 1954 Code for the administration and enforcement of the internal revenue laws." Pursuant to section
7801, the Secretary of Treasury (again Notice they do not define secretary) has full authority to administer and enforce the internal revenue laws and
has the power to create an agency to enforce such laws. Based upon this, the Internal Revenue Service was created. Thus, the Internal Revenue Service
is a body established by "positive law" because it was created through a congressionally mandated power. Moreover, section 7803(a) explicitly provides
that there shall be a Commissioner of Internal Revenue who shall administer and supervise the execution and application of the internal
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Employees And Soldiers Assigned For The Disbursing Operations
3.SCOPE: The provisions of this memorandum apply to all Employees and Soldiers assigned to the Disbursing Operations. 4.RESPONSIBILITIES:
a.Disbursing personnel will be appointed to or terminated from their assigned duty position prior to the effective date of the change in status. It is the
responsibility of the outgoing disbursing personnel to ensure the appointment/termination orders are prepared correctly. The Disbursing Office will
maintain all current appointment orders and termination orders for one year after the date of termination. The Internal Review section will maintain all
terminated appointment orders on file for six years and three months after the individual's termination date. All DD Form(s) 577 are maintained... Show
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d.Cashiers will follow the oral and written instructions of the Commander/Director, Disbursing and/or other appointed deputies. e.It is important
for Cashiers to possess a detailed knowledge of the functions and operations of the Disbursing Office, and a general knowledge of the DMPO as a
whole. f.Cashiers are responsible for verifying the accuracy of the amount of cash received as collections to the Disbursing Office and for ensuring
disbursements made are accurate and proper for payment. Other customer services will be as directed by the Commander/Director, the Disbursing
Officer, or other appointed Deputies. g.Cashiers are expected to be courteous to all personnel reporting to the Defense Military Pay Office, and are
required to maintain acceptable standards of appearance, performance, and conduct. Cashiers will not argue with Customers. If a problem surfaces
with a Customer, it will be referred to the Disbursing Officer or Deputy, and if necessary will be brought to the attention of the personnel who
prepared/approved the voucher. h.Embezzlement of Public Funds, Property, or Records: Under 18 U.S.C. 653 (reference(s)), Disbursing Officers or
any accountable Officials shall be guilty of an embezzlement if they in any manner convert funds to personal use; loan funds with or without interest;
deposit public funds entrusted to them in any place or in any manner, except as authorized by law; or for any purpose not prescribed by law,
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The Pros And Cons Of Alexander Hamilton
In regards to the redesign of the $10 bill to include a female figure, Alexander Hamilton would have been one of the key people the U.S. would turn to
for advice. If we were living in the time when Hamilton was Treasury Secretary, perhaps he would suggest the designation of an entirely different
denomination of paper money for a woman in history. Being the visionary he was, his ideas often existed outside the status quo –– with brilliant results.
But could we create a brand new denomination? And how? According to the Treasury Department, printing special currency requires an official
proposal, new printing plates and several hundreds of thousands of dollars for additional printing and processing equipment, including the preparation
of changing both the ... Show more content on Helpwriting.net ...
The New York Times wrote in a Fourth of July editorial that it's a better idea to swap out Andrew Jackson, an ineffectual president, who would be
appalled his portrait graces paper money.
Hamilton, by contrast, designed the treasury system, not to mention the U.S. Mint. If anyone's legacy has been linked to U.S. currency, it is Hamilton's
––– whose illustrious reputation as a founding father of the United States and its banking systems was hard won.
Alexander Hamilton, a penniless, fatherless orphan from the Caribbean, through high intellect, ambition and inherent ability to evoke action through
brilliant essays, rose through the ranks first at King's College (now Columbia College), then, the Revolutionary War to become George Washington's
most trusted aid. Always an early advocate for a federal, centralized government, his ideas would eventually bind the young wayward nation together.
As an author of the Federalist Papers, he composed some of the most influential essays in American history, securing the need for the Constitution of
the United
... Get more on HelpWriting.net ...
Essay about The History of Customs and Border Protection
Cultural Stewardship:
CBP plays a role in protecting and enhancing culture for future generations, and takes significant conservation into account in planning and carrying out
facilities and operational activities. CBP promotes communication and partnerships with Native groups, private sector, and important government
entities, to safeguard traditional and cultural resources and guarantee their accountability and respectful treatment.
HISTORY:
The U.S customs service was initially established during 17th century by the first congress of the United States at 31 July 1789 under the fifth act,
which emerged from the 2nd and 3rd act of the first congress of United States, which established the system of tariffs on imported goods and ... Show
more content on Helpwriting.net ...
1789 was the year of establishment of the marine hospital services. In 1799 the customs ensign and pennant was designed by treasury secretary
Oliver Wolcott. During 18th century customs services had eradicated the huge national debt incurred during the American Revolution. In 1836
commissioner of patents worked for the agriculture. On 27 December 1837 life saving service was established by the department of treasury.
Customs Revenue represented 90% of all federal funds deposited in the U.S treasury, in 1860. The bureau of internal revenue was established in
1862, in order to fund cost of the civil war a personal income tax was also established by the treasury department. In the same year president
Lincoln also established the department of U.S. agriculture. In 1870 U.S special agency service was established as the branch office in the office of
secretary of the treasury. Revenues marine division was created in the treasury department in 1871. Various states began passing their own
immigration laws after the civil war, which was led to the supreme court in 1875in which supreme court ruled that enforcement of immigration laws
was a federal responsibility. In 1879 congress enables the creation of position of the fraud roll employee which is often titled as the customs agents or
special agents. In 1890 custom administrative act established board of general appraisal which was renamed as United States customs court in 1926. The
... Get more on HelpWriting.net ...
United States Response For Corporations From Fleeing The...
RESEARCH PROPOSAL
ASSESSING THE UNITED STATES RESPONSE TO PREVENT CORPORATIONS FROM FLEEING THE U.S. AND INCORPORATING
ABROAD
TABLE OF CONTENTS
I.Abstract ............................................................................. 3
II.Introduction to the Problem ......................................................4–8
a.Economic Background ................................................... 4–5
b.Defining Corporate Inversion .......................................... 5–6
c.Historical Analysis and Political Response ........................... 6–7
d.Research Question ....................................................... 7
e.Hypothesis ................................................................ 8
f.Significance of Study ................................................... 8
III.Literature Review ................................................................. 8–10
IV.Methodology ...................................................................... 10–12
a.Research Design ......................................................... 10–11
b.Data Collection .......................................................... 11–12
c.Data Analysis ............................................................ 12
V.Anticipated Findings/Impact .................................................... 13
VI.References ......................................................................... 14
VII.Appendix ...........................................................................15
Abstract
Companies deserting the United States and fleeing to foreign tax havens to escape United States taxation, a process known as corporate inversion
strategy, is occurring with great frequency in the modern economy. The Burger King and Tim Hortons merger and planned reincorporation in Canada
culminated the list of major American countries with pending mergers 2014. With one of the highestcorporate tax rates around the globe and the
taxation of profits earned from foreign subsidiaries but brought back into the home country, companies are seeking ways to insulate their profits
... Get more on HelpWriting.net ...
Hamilton And The Economy Essay example
Your name
Your teacher
Date
Hamilton and the Economy
Since the birth of the country, there have been many influences on its development. The economy in particular has been an area of great importance.
Many people have been factors in the growth of the United States' economy. Perhaps the earliest and most influential of these was Alexander Hamilton.
As shown in his effective policies, such as assumption of Revolutionary War debts, practical taxation, formation of the National Bank, and views on
manufacturing, Hamilton was a dominant force from the beginning. During his term as secretary of the treasury, he acted with the power and
commanding force of a Prime Minister. None of the other founding fathers ... Show more content on Helpwriting.net ...
Hamilton also showed his influence in the development of the country's taxation policies. He set up funding programs to pay off the now large national
debt. "In raising money to meet the obligation of Assumption, he resorted to direct taxation as little as possible, and made luxuries bear the burden"
(Bowers 20). Hamilton preferred taxing luxuries that only the rich could afford instead of merely taxing the entire population equally. Part of
Hamilton's vision was to have a very commercial economy. He did not want taxation to discourage business growth, and made great efforts to make
excise inspection non–oppressive (Mitchell 186). Hamilton did whatever was in his power to stimulate growth of industry so that the nation might
grow into an economic giant.
The early enactment of a National Bank would never have existed without Hamilton's drive. He single handedly planned and set the foundation for a
bank, which was essential to his fiscal philosophy. His presentation to congress was so detailed and thorough that a majority if the House even needed
explanation as to the rudimentary function of the bank (Mitchell 197). Jeffersonians opposed this plan because they had a strict view of the
constitution, which did not call for a national bank. Hamilton used the elastic clause to justify this, and felt that the bank was "necessary and proper" to
the function of the government. He also knew that the politicians he needed
... Get more on HelpWriting.net ...

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US Secret Service Origins

  • 1. Secret Service Definition The United States Secret Service or USSS was established by President Abraham Lincoln (1861–1865), its main responsibility was to prevent counterfeiting(an imitation intended to be passed off fraudulently or deceptively as genuine)of money. During the presidency of Lincoln's Administration, the bills were done by each state through banks, which made the monetary system vere disorganized. After realizing that more than a third of the nation's money was counterfeit, changes needed to be made in order to keep the economy balanced during the U.S.Civil War. With the help of The Secretary of the Treasury Hugh McCulloch, President Lincoln created a Secret Service on July 5, 1865 (151 years ago) on Washington,D.C. Its first chief was "Will iam Wood.... Show more content on Helpwriting.net ... Providing advanced computer forensics and network intrusion investigation training to enhance the skills of special agents through the Electronic Crimes Special Agent Program (CSAP) Establishing a Computer Emergency Response Team in coordination with Carnegie Mellon University Maximizing partnerships with international law enforcement counterparts through overseas field offices and by forward deploying ACSAP agents to international working groups Providing training, examination services and research into cutting edge processes to extract potential evidence from mobile devices to include cellular phones, skimming devices and GPS units Providing computer–based training to state and local law enforcement partners to enhance their investigative skills at the National Computer Forensics ... Get more on HelpWriting.net ...
  • 2. Social Security Policy Analysis Introduction Description of the Problem that Necessitated the Policy On October 24, 1929, the stock market crashed, thus initiating the Great Depression. When the Great Depression began, the United States was the only industrialized country in the world without some form of unemployment insurance or security ("The Great Depression," 2009). As a result, there was a downturn in spending and investment which led factories and other businesses to slow down production and construction, as well as fire their workers ("The Great Depression," 2009). During this time period, fewer than 10 percent of workers had any type of private pension plan through work which meant that most individuals had no reliable cash–generating form of retirement security ... Show more content on Helpwriting.net ... Department of the Treasury, 2007). OASDI is funded from a combination of employee and employer contributions, which is then deposited in the OASDI trust fund and used to pay current claims (McNutt & Hoefer, 2016). According to statistics from 2015, approximately 59 million people collected benefits each month: 39 million retired workers, 2.9 million spouses or children of a retired worker, 6 million survivors of deceased workers, including 3.8 million widows and widowers and 1.8 million children, 8.9 million disabled workers, 1.9 million were the child or spouse of a disabled worker, 3.1 million children under 18 received benefits, and 1 million adults who were disabled since childhood received benefits as dependents of a retired, disabled or deceased parent (National Academy of Social Insurance, n.d.). As of 2016, the full retirement age is 66 and the early retirement age is 62; by taking early retirement, one can reduce their Social Security benefits up to 30 percent (Alliance for Retired Americans, ... Get more on HelpWriting.net ...
  • 3. Alexander Hamilton: The Man On The Ten Dollar Bill Alexander Hamilton: The Man on the Ten Dollar Bill "My ambition is so prevalent that I contemn the groveling condition of a clerk," written by Alexander Hamilton, age 12, on November 11, 1769. Alexander Hamilton was born and raised in the West Indies, he began working as a merchant's clerk at age 9 and became an orphan a year later. During his time as a child, he began to experience economics and a few years later, he inspired locals to send him to New York to get an education and make something of himself. He completed two years of school before joining the Revolutionary War. He was Washington's aide and wrote to Congress about financial needs for the soldiers, which he experienced first hand. After the war, he came back to finish his degree and married Elizabeth Schuyler. This creates future mistrust in him as a politician because of his social position and elitist point of view. By the end of his life, he will have diminished the War debt,... Show more content on Helpwriting.net ... When brought to the attention, many people feared it would only help the rich and many believed it was unconstitutional saying the "Constitution does not explicitly give the federal government the power to create corporations." In one night, Hamilton decided to write a 15,000 word essay defending his plan and wrote, "The principal and most enlightened commercial nations (had national banks). There exists not a question about their utility." President Washington was persuaded by the essay and signed the bill, and the First Bank of theUnited States opened on December 12, 1791 in Philadelphia. A year later, Hamilton's plan became such a big success that United States bonds were selling above European's. Which in turn created stock markets in New York and Philadelphia in ... Get more on HelpWriting.net ...
  • 4. Lowering The Liquidity Of The Federal Reserve To combat the liquidity issues in the market, the Federal Reserve stepped in and lowered the discount window interest rate with the intent of putting liquidity back into financial markets. These lowered rates had a positive short term affect with some improvements in market liquidity. However, credit markets were still not providing the level of market liquidity that was required by businesses. The first stage of the Federal Reserve's response was only a short term fix and did not adequately address the market liquidity needs, so the Federal Reserve continued with additional action to supplement market liquidity through the use of non–monetary tools (Sarker, 2009). The non–monetary, second and third stage tools established by the Federal ... Show more content on Helpwriting.net ... The bank investment programs helped stabilize the banking system by alleviating some of the liquidity pressure on large financial institutions whose failure would have had devastating impacts on the entire economy. The initial authorized TARP budget of $700 billion was later reduced to $475 billion as part of the Dodd–Frank Wall Street Reform and Consumer Protection Act, referred to as the Dodd–Frank Act and authority to make new financial commitments under TARP ended in 2010 (Department of Treasury, n.d.). Of the five program areas, the majority of the TARP money was spent stabilizing banking institutions, with a total of $250 billion. $27 billion was committed to efforts in restarting credit markets, and another $47 billion committed to help families avoid foreclosure. The other two program areas were efforts to provide stability to the U.S. auto industry in the amount of $82 billion, and approximately $70 billion was committed to stabilize American International Group (AIG). In addition, the U.S. Treasury implemented standards of executive compensation for financial institutions that were rescued by the TARP program (Department of Treasury, n.d.). The U.S. Department of Treasury publishes TARP reports with details of where TARP funds have been committed, disbursed and recovered. The largest obligations were made to the banking industry in an amount exceeding $250 billion, over half of the total $455 billion obligated funds. Other ... Get more on HelpWriting.net ...
  • 5. Terrorism Research Paper b.United States' Efforts Since September 11th, there has been significant interest in terrorist funding, more specifically the moving of money through charities and charitable donations. After the attacks, the U.S. Treasury Department was primarily focused on the freezing of assets, with U.S. policy being "starving the terrorists of funding and shutting down the institutions that support or facilitate terrorism." It was already illegal to provide or collect funds for acts of terrorism or to provide material support to designated terrorist organizations . The Office of Foreign Assets Control, within the Office of Terrorism and Financial Intelligence, and the Financial Crimes Enforcement Network are two bureaus within the U.S. Treasury ... Show more content on Helpwriting.net ... 13224), which was enacted after the September 11, 2001 attacks and "blocks all property and interests in property within the United States or in the possession or control of U.S. persons, including foreign branches, in which there is an interest of any person listed in the order or subsequently designated under the order." E.O 13224 authorizes the Secretary of the Treasury, more specifically OFAC to "designate those persons . . . who are owned or controlled by, or that act for or on behalf of, designated persons; those who assist in, sponsor, or provide financial, material, or technological support for, or financial or other services to or in support of acts of terrorism or designated persons; and those who are ―otherwise associated with‖ designated persons." In using this authority, OFAC has designated approximately five hundred forty–seven (547) individuals and entities since May 2010. Of these designated individuals and entities approximately sixty (60) are charities, their branches, and associated individuals and nine (9) are located within the United States. Approximately $3 million worth of assets has been blocked because of these nine (9) charities. While OFAC's primary purpose is to enforce sanctions against individuals, countries, and organizations that sponsor terrorism, it also strives to educate charities and individual donors. For example, OFAC "has actively engaged with charitable organizations to ... Get more on HelpWriting.net ...
  • 6. Contradictory Effects of Monetary and Fiscal Policies on... CONTENT 1. INTRODUCTION 3 2.MONETARY AND FISCAL POLICIES OF THE USA 3 3.REASONS FOR CONTRADICTORY CONSEQUENCES 5 4.IMPACT ON THE BANKING SYSTEM 7 5.IMPACT ON CITIBANK 8 6.RECOMMENDATIONS 9 7.CONSEQUENCES 10 8.REFERENCES 11 EXECUTIVE SUMMARY The global economic downturn, the sub–prime mortgage fiasco, investment bank collapses, falling shares and home prices, and tight credit pushed the United States into a recession by end 2007.In response to which the Federal Reserve, Treasury, and Securities and Exchange Commission responded with unprecedented , monetary policy expansion, fiscal stimulus and financial institutional bailouts ... Show more content on Helpwriting.net ... Figure 2 United States Interest Rate 3.REASONS FOR THE CONTRADICTORY CONSEQUENCES 1)Huge Deficits
  • 7. With America pumping in massive amounts of money in the economy ,USA's national debt has increased to a whopping $1.42 trillion in 2009, a $960 billion increase from the 2008 deficit, representing 12.3% of gross domestic product, the largest share since World World .As a result dollar has dropped against the emerging–market counterparts. The high level of debt and continuing large trade deficits have raised concerns regarding inflation and the value of the dollar relative to other currencies, as well as its place as the primary reserve currency. Secondly, many of the foreign holders of U.S. debt are investing more in their own economies. Over time, diminished demand for U.S. Treasuries will increase interest rates, thus slowing the economy Furthermore, this diminishing demand is putting downward pressure on the dollar. That 's because dollars, and dollar denominated Treasury Securities, are becoming less desirable, so their value declines. As the dollar goes down, foreign holders get paid back in currency that is worth less, which further decreases demand. The bottom line is that the large Federal debt is having a slowing effect on the U.S. economy. 2.Liquidity Trap As short–term policy rates for the various central banks have moved close to zero in America, the conventional open–market operations purchases of ... Get more on HelpWriting.net ...
  • 8. Department Of Homeland Security And Terrorism DEPARTMENT OF HOMELAND SECURITY The events that occurred on September 11th, 2001, changed the United States and the rest of the world. President George W. Bush declared a war on terrorism on national television, during a joint session of Congress on September 20th, 2001. The President's words echoed the cries of this country and during his speech he went step–by–step in his explanation of the events and actions moving forward. After explaining to the nation the details of the events that occurred on September 11th, he requested that American's not hold all Muslims responsible for the cowardly acts and attacks. He acknowledged the country may face many challenges in finding and eliminating the elusive enemy. Turning our countries grief and anger in to a mission to rebuild and overcome was part of his plan. Fighting a war on terror was outlined in President Bush's speech, starting with al–Quida. He proclaimed that America would "pursue nations that provide aid or safe haven to terrorism. Every nation in every region now has a decision to make: Either you are with us or you are with the terrorist" (McNamee, 2001). During his speech, the president unveiled the plans for the United Stated Department of Homeland Security. The Start of Homeland Security Pennsylvania Governor Tom Ridge was appointed director of the Office of Homeland Security eleven days after the terrorist attacks. The Office of Homeland Security was tasked with coordinating and overseeing strategies ... Get more on HelpWriting.net ...
  • 9. Duties Of The President's Cabinet Essay The Duties of the President's Cabinet Abstract: This paper will speak to the duties of the cabinet that surrounds the President. In the text I will identify each cabinet position with a brief description of their role and importance to the president. The paper will prove that the president him/herself cannot do this job alone, an example from the Bush administration will also be included following the duties portion of the paper. All in all, the cabinet will be explored with their operational functions in the United States government. James Castellano July 14, 2015 Political Science 510 Prof. Grulke The Presidential Cabinet The United States of America has the privilege to select a leader and his ... Show more content on Helpwriting.net ... His or her position and expertise counterparts with the President to inform him of decisions. Recently, this position has moved into a more important role than it ever did previously.Department of State: presently Secretary John Kerry leads the state department. One of the original cabinet positions, the Secretary of State important for foreign relations. He or she is the main point of contact for foreign issues and first to advise the president of any issues that may occur. "Under the Constitution, the President of the United States determines U.S. foreign policy. The Secretary of State, appointed by the President with the advice and consent of the Senate, is the President's chief foreign affairs adviser. The Secretary carries out the President's foreign policies through the State Department and the Foreign Service of the United States" (US Department of State 2009). When it comes to handling foreign issues, from treaties to conferences, conflict and resolution, the Secretary of State is the second most important person in regards to gaining and developing foreign relations. It is important to understand this vital role in maintaining peace talks, expanding our trade market, and forming alliances. Though President Washington did not want to be involved with international issues, President Jefferson served as the first Secretary of State implementing the ground rules for this position
  • 10. ... Get more on HelpWriting.net ...
  • 11. The Development Of South Africa Essay According to Farlam (2005) and SchГ¶nteich (2007, the South African government saw PPPs as a way to radically improve/enhance infrastructure and service delivery to its people and as a way to redress the inequalities that were evident. To this end, they appointed a task team to develop legislative, policy and a framework for PPPs (PPP Unit). As a result, a PPP Unit was established in National Treasury. SchГ¶nteich (2007) remarks that as a way of redressing inequalities and social imbalances, the PPP framework incorporates Broad Based Black Economic Empowerment (BBBEE) regulatory requirements to ensure that previously disadvantaged blacks participate in PPPs projects and this shows government's sincerity and strong commitment to making PPPs work. South Africa has developed one of the most robust and comprehensive PPP legal frameworks in the SADC region (Levinsohn & Reardon, 2007). According to World Bank (2015), South Africa has substantial PPP experience, having implemented 24 national and provincial level PPP projects between 2000 and April 2014 totalling over US$8.35 billion of total investment. This includes the Gautrain Project, valued at US$3.1 billion (ZAR23 billion), which is one of the largest high–speed rail projects on the African continent. The National Treasury, the key government body that approves deals in South Africa, has developed a PPP Manual and Standardised PPP Provisions to guide PPP projects (Farlam, 2005). However, Nyagwachi (2008) observes that South ... Get more on HelpWriting.net ...
  • 12. Yield to Maturity (YTM) of Various Maturities Yield to Maturity (YTM) of Various Maturities Yield to Maturity, the book yield or redemption yield of a bond or other fixed –interest securities, is the internal rate of return an investor will earn when he purchases the bond today at the market price, provided that the bond is held until maturity and that all coupon and principal payments are made on schedule. (Fabozzi, 2007) Taking into account the clean price of some of the securities and using the YTM formula in Excel, YTM of various on–the–run Treasury bonds are obtained. Maturity Coupon (%)CUSIPCMBIssue DateMaturity DatePrice($)YTM (%) 4–Week0912796CC1 No13/02/201413/03/20141000.000 13–Week0912796CM9 No13/02/201415/05/201499.990.040 0.5 Year0912796DQ9 No13/02/201414/08/201499.960.080 1–Year0912796DG1 No06/02/201405/02/201599.890.1101 2–Year0.375912828B41 No31/01 /201431/01/2016100.120.318 3–Year0.625912828A91 No15/01/201415/01/201799.790.702 5–Year1.50912828B33 No31/01/201431/01 /201999.981.505 7–Year2.125912828B58 No31/01/201431/01/202199.832.151 10–Year2.75912828B66 No18/02/201415/02/2024100.132.735 30–Year3.75912810RD2 Yes15/01/201415/11/2043101.163.685 Formula: P=(C/y) (1 –1/ (1+y) ^n) +F/ (1+y) ^n where P is price, C is coupon payments, F is face value, y is the yield to maturity and n is the number of 6–month periods. Interpolated Treasury Yield, Spot rates and Forward Rates After that, based on the market yields on U.S. Treasury securities ... Get more on HelpWriting.net ...
  • 13. The Department Of Alcohol, Tobacco, And Firearms For our third assignment for Criminal Justices we must answer questions about the Bureau of Alcohol, Tobacco and Firearms, U.S. Marshals Service, and U.S. Drug Enforcement Administration. We must answer the following question: What are the mission or goal of these agencies? When were they established? Briefly discuss each of the agencies history. Discuss some of the difference between these agencies. The first agency is called the Bureau of Alcohol, Tobacco and Firearms. The mission for the ATF is a "Law enforcement agency in the United State Department of Justice that protects our communities from violent criminals, criminal organizations, the illegal use and trafficking of firearms, the illegal use and storage of explosives, acts of arson and bombings, acts of terrorism, and the illegal diversion of alcohol and tobacco products". They partner with communities, industries, and public safety agencies to protect the public they serve through information sharing, training, research and use of technology. ATF was established on July 1, 1972. The ATF was formerly part of theUnited States Department of the Treasury, which had been formed in 1886 as the "Revenue Laboratory" within the Treasury Department 's Bureau of Internal Revenue. ATF is the youngest tax –collecting Treasury agency, separated from the Internal Revenue Service by Treasury Department Order No. 120–1, since 1 July 1972. Also, in 1789 under the new Constitution, the first Congress imposed a tax on imported ... Get more on HelpWriting.net ...
  • 14. Declaration Of Independence Analysis What Should Have been Included My complaint is that they should have implemented in the Declaration of Independence that all citizens of the southern United States of America be free from all forms of slavery, not just physical slavery. That we were to be given our birth rights back and act as citizens of theUnited States of America and not commodities or a corporation so to speak. What I'm saying is United States citizens are still enslaved from birth. The federal government holds our birth certificates in reserves because in 1913 the United States got short on cash by the end of World War 1. The country needed to print more money that they had to get the country back on their feet. A few years later about 20 years I say the county went ... Show more content on Helpwriting.net ... Merriam–Webster Dictionary of law of 1966. Birth certificates now appear to at least qualify as "warehouse receipts" under uniform commercial code. Black's Law Dictionary, 7th edition defines a warehouse receipt, which is considered a document of title, may be a negotiable instrument and is often used for financing with inventory or security. Now once our birth certificate is registered by the state with the US Department of Commerce, they notify the Treasury Department that takes out a loan for the Federal Reserve. The Treasury uses the loan to purchase bond. The federals holds a purchase money security interest in the bond from commerce which invests the sale in the stocks and bonds market. The Treasury issues out bonds, notes, and bills using bonds as surety for new securities. The cycle is based on the future tax revenues of the legal person whose name appears on the birth certificate. Which means the bankrupt, corporate US can guarantee to the purchasers of their securities the lifetime labor and tax revenues of every US citizen with a birth certificate as collateral payment. It's simply converted by lawful, true name of the child into ... Get more on HelpWriting.net ...
  • 15. A Brief Note On Non Profit Tax Compliance Non–Profit Tax Compliance Unlike for–profit businesses, the focus of a nonprofit is not on gaining profits for shareholders and owners, but to fulfil a charitable mission for the benefit of the public. Because of this mission focus, the IRS has recognized these organizations as exempt from the federal income tax that is placed on for–profit businesses and individuals. This recognition is not automatic and is not guaranteed. Nonprofit organization must still follow the rules and regulations set forth by the IRS and the U.S. Government regarding tax compliance. If these rules are not followed, a nonprofit organization could lose their tax exempt status. A charitable focus does not mean that money is not involved. In fact, nonprofit ... Show more content on Helpwriting.net ... 501(c)(3) Organizations Charitable organizations are formed for many different purposes, but in order to be eligible for tax exempt status, a nonprofit organization must meet the description of one of the forms described in The Internal Revenue Code of 1986 В§501(c). According to I.R.C. В§501(c) there are 29 different sections through which a nonprofit organization can be eligible for income tax exemption. The most commonly used exemption is described in I.R.C. В§501(c)(3) which accounts for 1.11 million of the total 1.72 million organizations that are exempt from tax (Fishman, 2015). Because these organizations are governed by В§501(c)(3) of the tax code, they are referred to as 501(c)(3) organizations (Fishman, 2015). 501(c)(3) qualifications Over half of all tax–exempt nonprofit organizations are considered 501(c)(3) organizations (McKeever, 2015). I.R.C. В§501(c)(3) provides a thorough description this tax exempt organizational form: Corporations, and any community chest, fund, or foundation, organized and operated exclusively for religious, charitable, scientific, testing for public safety, literary, or educational purposes, or to foster national or international amateur sports competition ...or for the prevention of cruelty to children or animals... (I.R.C. В§501(c)(3)). This form is widely used and encapsulates what many people think of when they think of a nonprofit, including charities, foundations, hospitals, and qualifying ... Get more on HelpWriting.net ...
  • 16. Treasury Bonds And The National Debt Daniel Hysinger US Treasury Bonds and the National Debt The U.S. Treasury bond is a low interest way for the government to borrow money. The bond, along with Treasury notes and bills, form the Securities which the Federal government borrows from lenders for a set amount of time. Issued by the Department of the Public Debt, a subset of the US Treasury, they are usually issued in 30–year maturities which pay interest twice yearly. Because the debt obligation is backed by the tax–generating, money printing, and understandably trusted government of the United States, bonds are generally considered to be a safe or virtually no–risk investment. Thanks to this low risk attribute however, bonds are regarded as very low–yield security, which is exactly why it is a good instrument for the United States government to employ, as long as it can turn a relatively decent profit on the initial investment. According to the September 30th, 2014 report of Monthly Statement of the Public Debt of the United States, the amount of Treasury Bonds outstanding totaled $8,167,759 million, I'll call it roughly $8.2 trillion. This number composes the majority of the combined $12.7 trillion of US Treasury securities outstanding. These securities outstanding are also known as the national debt. The numbers listed above, and throughout this paper will disregard debt being owed to intra–governmental holdings of the US, as bonds make up a minuscule (in comparison, only $7.6 million) fraction of what they ... Get more on HelpWriting.net ...
  • 17. Essay on Reducing the National Deficit Reducing the National Deficit Many United States' citizens are unaware of the country's current financial state. Many assume that one of the world's wealthiest countries could never be in debt. This is untrue however, and, in fact, the country with the greatest income per capita is in major debt. This study will examine possible solutions to reducing the United States' national budget deficit. Understanding the National Deficit The amount of money that the United States government owes as of October 17, 2004 at 03:48:52 pm GMT was $7,435,016,998.21. The debt has increased by an average of $1.7 billion per day since September 30, 2003! From a more individual perspective, currently the United States population is roughly around ... Show more content on Helpwriting.net ... The debt skyrocketed to an astounding $279 billion by the year 1946. When World War II ended in 1949, the debt grew at a slow and steady pace for the next 20 years. When the Vietnam War began in the 1960's the debt accelerated sharply. Thanks to the growth of television and news media, growth of the deficit was widely publicized. For the first time, the American people were given access to what was going on with the nation's debt. When the Gulf War began the early 1990's, the national debt reached a trillion dollars for the first time. By the end of the Gulf War, the government decided to make amendments to fix the continuing problem with the deficit. Despite those promises to reduce spending, the debt is currently at it highest point ever. Who is the Nation Indebted to? The United States borrows money from individuals that have bought Treasury Bills, Notes, Bonds, and United States Savings Bonds. The U.S. government also borrows money by issuing Treasury securities. These securities finance expenditures that exceed its receipts, and are legal under the authority of the Second Liberty Bond Act. The government's primary source of income is through taxes paid by its citizens. Supposedly, money is spent on programs that government officials consider necessary to ensure the best quality of life for all (or at least the majority) of the nation's citizens. The combination of these amounts is what makes up the national
  • 18. ... Get more on HelpWriting.net ...
  • 19. Alexander Hamilton: The First Bank Of The United States With the ending of the American Revolutionary War, many men emerged as distinguished leaders. Some of these men included George Washington, the first President of the United States, Thomas Jefferson, the third President of the United States and primary writer of the Declaration of Independence, and Benjamin Franklin, who served in the Second Continental Congress and helped to draft the Declaration of Independence. One of the most significant leaders was Alexander Hamilton. Born from humble beginnings, this immigrant to America made some of the most significant contributions in the shaping of the United States. Hamilton's accomplishments included being a contributing member of the Continental Congress, co–writing the Federalist Papers, being ... Show more content on Helpwriting.net ... This would help to stabilize the nation's economy. The First Bank of the United State was established, allowing the regulation of credit and banking facilities nationwide. However, this bank did not have complete support and in 1811 when the bank's charter was up for renewal, it was not approved by the Senate and the First Bank of the United States was closed. The war of 1812 highlighted that without a central bank, the Treasury Department struggled to finance the war. It was because of this struggle that in 1816, the Second Bank of the United States was established. Over the next twenty years, the Second Bank reduced the national debt, stabilized exchange rates and aided in national economic growth. As with its predecessor, the Second Bank of the United States closed at the end of its 20–year charter in 1836 due to lack of support in the Senate. Another Federal bank, the Federal Reserve, would not be established until 1913. It is with this third establishment of a national bank that economists recognized that Hamilton's design was sound. The Federal Reserve continues to regulate the U.S. banking system ... Get more on HelpWriting.net ...
  • 20. The Department Of Homeland Security The Department of Homeland Security The Department of Homeland Security is an agency made up of 22 different federal agencies which were combined in an effort to streamline the United States effectiveness in defending our nation. The core mission of the Department of Homeland Security include prevent terrorism and enhancing security, secure and manage our borders, enforce and administer our immigration laws, safeguard and secure cyberspace, ensure resilience to disasters (Department of Homeland Security, 2015). The Department of Homeland Security was created in response to attacks that occurred on the world trade center on September 11 2001. The attacks on the world trade center would change the how the United States viewed terrorism and... Show more content on Helpwriting.net ... Tom Ridge would be appointed by President George W. Bush to the position of Director of the Office of Homeland Security. Tom Ridge previously a member of the House of Representatives and Governor of the state of Pennsylvania. Would serve as the Director Homeland Security until 2005. The Department of Homeland Security would begin in after the attacks on the United States. The Office of Homeland Security and the Homeland Security Council would be officially created by President George w. Bush on October 8, 2001 with the issuing of Executive Order 13228 (Federation of american scientists, n.d.). The Department of Homeland security would be made official by the Homeland Security Act of 2002. The bill was passed by congress and signed by President George W. Bush in 2003. AGENCIES There were 22 agencies that made up the Department of Homeland Security, This will give a brief overview of the agencies and what they do. The U.S. Customs Service dating back to the revolutionary war, tasked with collecting tariffs on incoming goods for from foreign countries. The Immigration and Naturalization Service established in 1864 as a federal immigration agency. In 1933 the new Immigration and Naturalization Service was made by Executive Order 6166 signed by President Franklin Delano Roosevelt as member of the department of justice (LERNER, 2004). The Federal Protective Service origins ... Get more on HelpWriting.net ...
  • 21. Alimony Payment Research Paper Alimony is a court order payment made under a divorce or separate maintenance decrees between former spouses. Payments are considered alimony when you no longer file a return with your former spouse, the payment is received in cash, the payment is received by your former spouse, if the divorce or separation agreement doesn't not state that the payment is alimony, or you and your former spouse no longer live together. Payments must stop after former spouse's death and the payment is not treated as child support or a property settlement. Not all payments under a divorce or separation instrument are considered alimony such as child support, noncash property settlements, or any other voluntary payments not required by the separation agreement. [IRC... Show more content on Helpwriting.net ... If one is subjected to this rule, they must include part of the alimony previously deducted in their income in the third year. While the ex–spouse can deduct part of the alimony payments they previously received from their income in the same time period. The three–year period begins once the alimony payer has made a qualifying alimony payment under a divorce decree. Reasons that can require a recapture include a change in your divorce or separation instrument, a failure to make timely payments, a reduction in ability to provide support, or a reduction in your former spouses need for support. A taxpayer is subject to the recapture rule if the alimony paid in the third year decreases by more than $15,000 or the alimony paid in the second and third years decreases significantly from alimony paid in the first year. When calculating decreasing alimony one cannot include payments made under a temporary order, payments required over a period of at least 3 calendar years that may vary (for example, income from a rental property), or payments that decrease because of the death of either spouse or a ... Get more on HelpWriting.net ...
  • 22. Washington's Cabinet Essay department in his cabinet was the department of state. The Department of State was made to work on foreign policy issues and to negotiate treaties and agreements. The Department of War was another one set up by Washington. It was changed to the Department of Defense in 1947 because the Department of War made it seem like we always wanted a fight. The Department of War was made to have control of all things military. They kept the troops in check and told the president how the troops were acting. The final one Washington made was the Department of the Treasury. The Department of Treasury tells the president the financial state of the United States, commands the Secret Service, and authorizes the printing of the United States Postal Service stamps ... Show more content on Helpwriting.net ... The precedents he set shaped the future generations of presidents. Some presidents did not follow his precedents though. Franklin Roosevelt broke the two–term precedent (Presidential Precedents Stockwell). The oath taking had pretty much stayed the same all though history. The cabinet has improved exponentially though. Today we have fifteen different Departments in the cabinet. The Departments are the Department of Agriculture, Department of Commerce, Department of Defense (War), Department of Education, Department of Energy, Department of Heath and Human Services, Department of Homeland Security, Department of Housing and Urban Development, Department of the Interior, Department of Justice, Department of Labor, Department of State, Department of Transportation, Department of the Treasury, and the Department of Veterans Affairs (The President's Cabinet Fact Monster). The president elects at least one in each Department and a few more in others. The Senate must approve of the president's cabinet members every time that the president chooses a new one to join. The precedent that George Washington set about Mr. President is still in use today. These precedents were used back then, are being used today, and most likely will be used for the rest of ... Get more on HelpWriting.net ...
  • 23. History Of Atf The ATF was formerly part of the United States Department of the Treasury, having been formed in 1886 as the Revenue Laboratory within the Treasury Department's Bureau of Internal Revenue. The history of ATF can be subsequently traced to the time of the revenuers or revenoors and the Bureau of Prohibition, which was formed as a unit of the Bureau of Internal Revenue in 1920. It was made an independent agency within the Treasury Department in 1927, was transferred to the Justice Department in 1930, and became, briefly, a division of the FBI in 1933. When the Volstead Act, which established Prohibition in theUnited States, was repealed in December 1933, the Unit was transferred from the Department of Justice back to the Department of the Treasury where it became the Alcohol Tax Unit (ATU) of the Bureau of Internal Revenue. Special Agent Eliot Ness and several members of The Untouchables, who had worked for the Prohibition Bureau while the Volstead Act was still in force, were transferred to the ATU. In 1942,... Show more content on Helpwriting.net ... Bush signed into law the Homeland Security Act of 2002. In addition to the creation of the Department of Homeland Security, the law shifted ATF from the Department of the Treasury to the Department of Justice. The agency's name was changed to Bureau of Alcohol, Tobacco, Firearms, and Explosives. However, the agency still was referred to as the "ATF" for all purposes. Additionally, the task of collection of federal tax revenue derived from the production of tobacco and alcohol products and the regulatory function related to protecting the public in issues related to the production of alcohol, previously handled by the Bureau of Internal Revenue as well as by ATF, was transferred to the newly established Alcohol and Tobacco Tax and Trade Bureau (TTB), which remained within the Treasury Department. These changes took effect January 24, ... Get more on HelpWriting.net ...
  • 24. The Importance of The Bureau of Alcohol, Tobacco, and... The Importance of The Bureau of Alcohol, Tobacco, and Firearms The Bureau of Alcohol, Tobacco, and Firearms is one of the most important Federal Agencies we have. It is dedicated to reducing violent crime, collecting revenue and protecting the public. The ATF, for short, has many different programs for alcohol, firearms, arson and explosives, and tobacco. The ATF has a long background starting in 1789. It serves a huge function to keeping illegal alcohol and guns off the streets. The ATF is in the news a lot for different reasons. It is a large agency with tremendous power. The ATF roots have been around for hundreds of years. It all started in 1789, when the first congress imposed a tax on alcohol to pay for a war ... Show more content on Helpwriting.net ... In 1940 the FAA as and merged with the ATU. In 1952 the Bureau of Internal Revenue was dismantled. All of its alcohol or tobacco related issues went to the ATU. The Bureau was renamed theInternal Revenue Service, the IRS. The IRS renamed the ATU the Alcohol and Tobacco Tax Division. When the Gun Control Act was passed in 1968 it gave them the responsibility of firearms. Because of this it was renamed to the Alcohol, Tobacco, and Firearms (ATF) Division. This is the ATF we know today. The government funds it and they get money taxes collected from alcohol, tobacco, and firearms retailers. It is broken down into four major parts. There are the Alcohol Programs, Tobacco Programs, Firearms Programs, and Arson & Explosives Programs. The Alcohol Division is responsible for approving certificates of label approval (COLAs) for alcoholic beverages. They way it works is that it gets money for every barrel or can of alcohol. They regulate the alcohol industry. They issue alcohol permits and work to keep criminals out of the business. The Tobacco Division works about the same. It uses money given to them by taxes and permits. The job of the Tobacco Division is to ensure the collection of tobacco taxes and to qualify applicants for permits to manufacture or import tobacco products or to operate tobacco export warehouses. The Firearms division investigates armed violent offenders and career criminals, narcotics traffickers, narco–terrorists, violent gangs, and domestic and ... Get more on HelpWriting.net ...
  • 25. Argumentative Interview Narrative This memo describes the informative interview conducted on February 28, 2017, with Mrs. Delores Fulton, who is a manager of the Internal Revenue Service. This interview took place at a restaurant and approximately lasted for 30 minutes. My memo gives information on Mrs. Fulton's professional background, how she obtained her position at the Internal Revenue Service, and shares what skills and qualities an accountant must have. Interview Background: As an accounting major at the J. Mack Robinson College of Business, I chose to conduct my interview with an Internal Revenue Service manager. The goal of this interview was to seek career advice from a seasoned professional, Mrs. Fulton, and how she became very successful in her position. I was also eager to know what skills and qualities are needed to be an accountant. To begin, here is a short biography about her. Mrs. Fulton is a... Show more content on Helpwriting.net ... It helped me get some information about my future profession and what qualities and skills I need to become very successful in this field. To recall Mrs. Fulton's professional background, she is a native of South Carolina, obtained her Bachelor's Degree in Accounting and Master's Degree in Finance. She obtained her job by writing her name on a federal roster for government jobs. The Internal Revenue Service called her and she had received the position of a revenue agent. From that position, she became a teacher for the IRS, teaching tax law. Later, she is now one of the managers at the IRS. The key advice that she gave me is to always embrace new challenges so that you can grow as a person. Along with this, she also told me what qualities and skills an accountant should have. An accountant should be open–minded, hardworking, dedicated, be an analytical thinker, be self–motivated, and can be able to direct others. From this interview, I have gained incredible knowledge of what I need to do for my future ... Get more on HelpWriting.net ...
  • 26. The US Securities and Exchange Commission (SEC) Essay Introduction The US Securities and Exchange Commission (SEC) is the US federal agency that holds the primary mandate to enforce federal securities laws and regulations to control the securities industry and the country's stock exchange and regulation of all activities and organizations including the US electronic securities market. The SEC is committed to promoting a market environment that yields public trust characterized by integrity to attain its mission of protecting investors through maintenance of fair and efficient markets through facilitation of capital information (Basagne, 2010). The SEC financing is a major area of focus since there has been major concern regarding the SEC agency financing and whether they utilize the... Show more content on Helpwriting.net ... Salaries and expenses collections are dedicated to implement SEC mission, functions and day–to–day operation in accordance with the congress established limits. Law categorizes excess collections in salaries and expenses categorized as non–budgetary fund managed by the treasury. Another budget resource in the form of funds from dedicated collections is the investor protection Fund. The fund is a dedicated collection that offers funding for whistleblower awards. This fund is financed by part of the monetary sanctions accrued by SEC in administrative and administrative actions by the SEC. The Reserved Fund On the other hand, the Reserved Fund is a portion of the registration fee SEC collects which amounts to over $50 Million in each Fiscal year and is deposited in the reserve fund. The balance for the reserve fund cannot exceed $50 million (Becker, 2012). The fund incorporates dedicated collections that SEC obligates up to $100 million in each fiscal year with the agency determining the use for which the fund is applied. The Miscellaneous Receipts Accounts Another budget resource for the SEC is the Miscellaneous Receipts Accounts. This account holds non–entity accounts and receipts sought from the custodial activities of the SEC that the agency couldn't make deposits into the funds it has jurisdiction over. These forms of account include money accrued from registration fees in excess amounts that is deposited into ... Get more on HelpWriting.net ...
  • 27. Responsible Corporate Officer Doctrine For The Health Care... Compliance Officer Response It is often recommended for (HCO)'s to have a corporate compliance plan to be more efficient, reduce errors, and not have small errors turn into large errors. As (OIG) it's a necessary and fundamental need to incorporate a corporate compliance plan to have for staff and management to stay organized and lessen the chance of fraud, waste, and abuse in the company. Stated by, (Cleverly, Song, & Cleverly, 2011), it is effective only if it includes management support, effective communication, continuous monitoring, and individual accountability. All these aspects are a continual monitoring requirement as long the corporate compliance is in place for the duration. Responsible Corporate Officer Doctrine– Question 3: 10 minutes 3.)What important aspects do you find in the Responsible Corporate Officer Doctrine to be beneficial for the health care organization? Any changes to the (HCO) to be implemented with the use of the Doctrine? The critical aspects in the Responsible Corporate Officer Doctrine that are beneficial for the health care organization are in many ways. There are provisions that comprise the (RCO) and protect in making the health care organization aware in cases of severe punishment of liability. According to (Clark, 2012), the (RCO) it states that the doctrine has been aggressively used and applied by regulators and prosecutors against businessmen in various administrative, civil, and criminal procedures, and has been described as the ... Get more on HelpWriting.net ...
  • 28. The Treasury Department 's Actions The Treasury Department's Actions During the largest recession the United States has seen since the great depression, the Treasury Department sprung into action to stave off another depression. Within a short period of time after the housing bubble burst, financial institutions started to fail. Credit and liquidity virtually vanished within days. The government was forced to react quickly to thwart a complete financial collapse. An estimate from the public interest group Better Markets has calculated the cost of the recession close to $12.8 trillion (Puzzanghera, 2012). This number is criticized since it includes losses in economic output, GDP, and bail–outs, while home equity losses and consumer net wealth are not. This figure does give a good idea of the magnitude of the Treasury Department's actions. A multitude of industries, and companies received direct financial aid. The government identified key economic areas where policies were needed, and provided credit and liquidity for growth in those areas. The quick response of the Treasury Department helped in reducing the negative effects of the financial crisis. The three economic theories that I identified in this financial crisis consist of classical economics, Keynesian economics, and aggregate market (AS–AD) analysis. There was also a fear of monetarism which has not come to fruition at this time. Economic Theories Classical economics is considered one of the original economic theories. It is based on the ... Get more on HelpWriting.net ...
  • 29. Secretary Of The Treasury Essay The Department of the Treasury is the executive department that deals largely with creating policies that will be beneficial to the United States economy and the government's finances. The responsibilities of the Department of the Treasury include paying the bills for the federal government, collecting taxes from the citizens, borrowing and lending money, creating currency, and supervising the national banks (Sidlow). The duties of the secretary of the treasury affect all United States citizens' everyday lives due to the fact that he or she is dealing with all taxes and currency in the nation. Anyone who is receiving benefits from the federal government would be affected by changes or creation of any policies. The secretary of the treasury... Show more content on Helpwriting.net ... The secretary of defense, who heads the Department of Defense, comes second in power over the military. The first and most important job of the secretary of defense is to keep the country protected from terrorist attacks. We often take for granted the security of our nation, but there are people working around the clock in order to keep the country safe. Next, the department of defense also locates and punishes any terrorists who attack which is a difficult and dangerous task. As the secretary of defense, it is his or her duty to ensure that each branch in the United States military is well trained and prepared for any obstacle that they may face whether it be planned or unforeseen. The secretary of defense also ensures that these men and women in the armed forces are well–equipped to do their jobs (Ruffin). There seems to be a high failure rate among those who have served as the secretary of defense. Are these secretaries actually failing at their job, or are they reaching toward the impossible goal of trying to keep each and every American citizen safe from terrorist attacks on our nation? Many of these secretaries are let go by the president due to a lack of confidence in them (Stevenson). The ideal secretary of defense would need to be skilled in politics, leadership, relationships, and many other areas, but someone who is exceptional in all areas would be nearly impossible to find. Because perfecting the position as secretary of defense is nearly impossible since the safety of the entire nation is in their hands, we often see this resulting in disappointment toward the ... Get more on HelpWriting.net ...
  • 30. Iran Case Study Moving on to my second point, I would like to discuss the nature of the sanctions implemented on Iran due to the nuclear issue more in detail so we can get a better realization of what the public civilians in Iran have gone through. It is worth mentioning that Iran has been facing sanctions with respect to the selling of any aircraft and any parts related to them and even the maintenance and inspection of airplanes since 1979. Regardless of the reasons behind it, for a moment let's imagine how would it be if only one of us, set aside a group of 200 or more passengers consisting of children and women, were to fly on an airplane that was at least 36 years old, and the parts on it had been smuggled through back–channels and proxies and there... Show more content on Helpwriting.net ... As a case in point, I can personally, as someone who has witnessed these tough situations firsthand, tell you that all costs and prices, from the price of a bottle of milk or a loaf of bread to the cost of going from one end of the city to the other, more or less doubled due to the sanctions. Again I would like to encourage you to just imagine how terrible would it be if the cost of transportation or anything else in New York City were to double over night. All the above–mentioned on one side, the trouble of not being able to purchase certain medicines and foods on the other was the most painful of all. Officially, the imposers of these sanctions had excluded the purchase of medical supplies and certain food from the sanctions; however, here is a part of a recent study by the Washington DC–based Woodrow Wilson International Center for Scholars: "Even when the most reputable American and European pharmaceutical companies are involved, and their lawyers have completed all the necessary paperwork from the US Treasury's Office of Foreign Assets Control (OFAC), nearly all banks thatIran deals with prefer to err on the side of caution. Their hesitation is understandable given that a mistake could earn a bank the wrath of the US Treasury Department and fines that exceed $1 billion. The recent experience of a reputable Iranian pharmaceutical group shows the magnitude of the problem. When a senior company representative flew to Paris to present a French bank with documentation ... Get more on HelpWriting.net ...
  • 31. Case Report for Midland Energy Resources, Inc: Cost of... 1. For what purposes does Mortensen estimate Midland's cost of capital? What would be the potential consequences of a too high estimate compared to the firm's "true" cost of capital? What about a too low estimate? The purpose is that the cost capital will be used for capital budgeting, financial accounting, performance assessment, stock repurchases estimations. Also the cost of capital is a necessary basis for the expected growth and forecasted demand. The too high estimated cost of capital means that Midland may miss out on investment opportunities and will under value the investment at hand. Furthermore, it is possible for shareholders to see a lower return on their investment. On the other hand, a too low estimated cost of capital ... Show more content on Helpwriting.net ... To relever the ОІe, we use the formula, ОІe = ОІu +(D/E)*(ОІu–ОІd). And the "Target D/E" was found by taking "Target D/V" divided by "1 –Target D/V". So we get the new ОІe, 1.3576. Then to get cost of equity, we use the CAPM formula, Re=Rf+ОІ(EMRP), 11.7679%. Since we have get the cost of equity and cost of debt, we can determined the WACC, which is equal to Equity/Value*Cost of Equity+Debt/Value*Cost of Debt*(1 –tax rate). In the end ,we arrived at 8.48%. Midland's choice of market risk premium of 5% does appear to be an appropriate selection in this instance. From exhibit 6, we found that this EMRP is lower than the historical data of U.S. stock returns minus Treasury bond yields and is higher than the market risk premium from the survey results. So we recommend that the risk premium rate can be narrowed between 4.8% to 5.6%. 4.8% is the lowest of higher EMRP while 5.6% is the highest of the lower EMRP. In a word, our team think that 5% is a reasonable market risk premium. 3. Should Midland use a single corporate hurdle rate (i.e. a firm–wide WACC) for evaluating investment opportunities in all of its divisions? Why or why not? I do not think it is proper. Since hurdle rate is the key factor to determine whether we should accept a project, it is concerned with a specific investment opportunity belonging to a division. As we can see in Table 1, each of Midland`s divisions had its own target debt ratio. Those ... Get more on HelpWriting.net ...
  • 32. Analyzing The Demand Of The Bidders And Auction Results Nyborg et al (2002) conduct their study by analysing the demand of the bidders and auction results in Swedish Treasury auctions during uncertainty at the time of when the bidding occurs. They find that bidders respond to uncertainty in three separate ways; as uncertainty increases, bidders reduce the price levels at which they want to bid, they reduce quantity demanded and bidders also increase bidding dispersion amongst the same bond. Nyborg et al also deem auction size to be a less important factor than price uncertainty in how it influences the bidders behaviour even though as the auction size increases, bidders increase their individual demands. They also suggest that cautious bidding involves both a reduction in prices and a reduction ... Show more content on Helpwriting.net ... Ahmad and Steeley (2007) further examine a type of price discovery in the bond market review the types of markets there are, i.e. primary or secondary bond market, by specifically examining the secondary market. Their objective is to review the secondary market pricing behaviour of U.K bond auctions by using an event study to test the statistical significance of auctions on the secondary market bond prices. In their event study, they use the price movement that is associated with a level change in the zero coupon yield curve as an appropriate benchmark. Whilst running the regressions on the cumulative average abnormal returns (they refer to them as CAR(–x, x) ) they focus on three scenarios found in earlier yield drift testing, which takes place during 6 days before the auction, on the auction day and up to 8 days after the auction (CAR(–6,–1), CAR(0,0) and CAR(+1,+8)). They find there is a negative average return in the post auction period. They also find the most significant variables in explaining bond prices, from their regression modelling, are the cover and size of the auction. There is also a positive association between the cover variable and the pre–auction CAR, which means that the greater the demand for gilts at an auction, the greater the abnormal returns. Cover and post–auction CAR are negatively associated showing that the greater the excess demand at an auction, the smaller the ... Get more on HelpWriting.net ...
  • 33. Savings Bonds: Our Nation's Financing Solution Savings Bonds: Our Nation's Financing Solution Savings bonds were introduced to give the nation's public an opportunity to participate in government financing while having a form of secure savings that was designed to withstand market conditions. Previous forms of Treasury securities that had been offered were vulnerable to market fluctuation. In 1935, the United States Treasury started to sell non–marketable savings bonds and they have been sold continuously since then. During the Great Depression, the unemployment rate had started to rise and reached 25 percent. In 1935 it fell to 17 percent with most of the new jobs being part–time positions as opposed to full–time positions. In the same year, the government decided to start several programs that would be costly and were designed to decrease the current unemployment crisis. The government ... Show more content on Helpwriting.net ... Eugene Sloan as the Division Chief and Mr. James Bryan as his assistant. They were in charge of publicity and sales promotion of the US Savings Bonds. It was evident that the savings bonds were a profitable program therefore it was necessary that they be universally marketed and available. Only being available through the US Post Office placed limitations on the public in terms of service and availability. The Treasury decided to look to the banking industry for help. Adding savings bonds to banks seemed like a natural step so the public could purchase them while making other financial transactions at their bank. Soon the Treasury made savings bonds available for purchase through payroll deduction. This presented itself as a hassle–free method for the public to buy the savings bonds without having to visit their bank or a post office. The WarFinance Division and its predecessors were responsible for nearly $186 billion of savings bonds sales. This was a huge contribution to the government war ... Get more on HelpWriting.net ...
  • 34. War Refugee Board Analysis The War Refugee Board, established through Executive Order 9417 on January 22, 1944 by Franklin D. Roosevelt, was tasked with the "immediate rescue and relief of the Jews of Europe and other victims of enemy prosecution" (United States Holocaust Memorial Museum et al. 2014). The War Refugee Board was initially headed by John Pehle, later seceded by William O'Dwyer who served as the director of the WarRefugee Board from January 1945 until the board's dissolution in September 1945.The War Refugee board is credited with saving the lives of 200,000 Jews and an estimated amount of 20,000 non–Jews as well as increasing public knowledge within the U.S. in regards to the treatment of the Jews in Europe. The War Refugee Board is additionally credited... Show more content on Helpwriting.net ... government divisions as well as the time constraints placed on the War Refugee Board additionally hindered the overall success of the board. The War Refugee Board was never able to fulfill the responsibilities given, due to the overall lack of cooperation extended by theUnited States. At the initially creation of the board, the War Refugee Board was given much authority as well as the guaranteed cooperation of all U.S. government agencies. The most important of which were the State, Treasury, and War departments. Despite the expected cooperation of all U.S. departments, only the treasury led by Treasury Secretary Henry Morgenthau Jr. contributed. The Office or War Information's psychological warfare experts and the Overseas Planning Board, the State Department, and the Joint Chiefs of Staff had repeatedly rejected proposals for exploiting publicity on Nazi atrocities against Jews. Within the State Department specifically, urgent War Refugee Board messages were consistently delayed, awaiting clearance. The War Refugee Board, unable to find assistance from departments within the United States, was forced to rely of cooperation from diplomatic and military bureaucracies, which were often resistant to provide assistance. The lack of cooperation in regards to the U.S. Departments was not only visible with the interactions between various U.S. departments and the War Refugee Board, but within the interactions that occurred between the various departments themselves. Tensions developed between the State Department and the Treasury Department over a proposal from the World Jewish Congress to fund relief for Jews in France and Romania and the evacuation of Jews from Romanian–occupied Transnistria, in which the Treasury Department accused the State Department of purposely delaying support. The lack of unity within the U.S. government was especially visible in the United States' approach in regards to the victims of Nazi oppression. ... Get more on HelpWriting.net ...
  • 35. Roles of the Office of Terrorism and Financial... The Office of Terrorism and Financial Intelligence, or T.F.I., is said to be the most important national security agency in the U.S. government. The Office of Terrorism and Financial Intelligence operates the department's intelligence and enforcement functions with the aims of protecting the financial system against illicit use and combating rogue nations, terrorist facilitators, weapons of mass destruction (WMD) proliferators, money launderers, drug kingpins, and other national security threats. Terrorism and Financial Intelligence develops and implements U.S. strategies to combat terrorist financing domestically and internationally, develops and implements the National Money Laundering Strategy as well as other policies and programs ... Show more content on Helpwriting.net ... positions, represent the U.S. at FATF meetings, and effectuate actions domestically. Protecting Charitable Organizations from terrorist abuse is a dire piece of the world's fight against terrorism. Charities provide essential services, comfort, and hope to those in need everywhere. Unfortunately, terrorists have exploited the charitable sector to make and move funds, provide logistics, encourage recruitment, or support terrorist organizations and operations. This abuse threatens to undermine donor confidence and compromise the integrity of the charitable sector, whose services are indispensable to the world. Terrorist Finance Tracking Program (TFTP) was developed after the terrorist attacks on September 11, 2001 to identify, track, and pursue terrorists, such as Al–Qaida and their networks. Since that time, the TFTP has provided valuable leads that have assisted in the prevention or investigation of many of the most visible and violent terrorist attacks of the past decade. In 2004, Congress passed the Intelligence Reform and Terrorism Prevention Act which created the Office of the Director for National Intelligence (DNI) to oversee and coordinate all intelligence collection in order to advise Congress and the White House. The result of this reorganization, the director of the CIA no longer reports directly to the president. Here is an outline of how the Offices work together. No other finance association in the world has an operation quite like TFI, an ... Get more on HelpWriting.net ...
  • 36. Tax Inversion And The United States Government Americans may ponder the thought of struggling economy barely gaining momentum while corporations have witnessed some of the largest quarterly profits ever recorded. The driving force behind the extreme profits gained by many corporations is simply put as tax inversion. Tax inversion is nothing more than an American firm combining with a foreign firm in a country with beneficial and lucrative tax laws (Financial Times, 2014). The American headquarters will now be moved to the new foreign firm where they will enjoy the lower taxes and evade the taxation of the United States government (Financial Times, 2014). More and more American firms have been taking advantage of inversion while still being able to enjoy sales in the American market. ... Show more content on Helpwriting.net ... Treasury, 2014). The treasury department has taken steps along with theinternal revenue service to build a policy is reducing the economic benefits firms receive from inversion (U.S. Treasury, 2014). The first step looked at by the treasury department would construct a restrictive technique to end creative techniques used by firms to avoid American taxation (U.S. Treasury, 2014). The Obama administration; with consent from Congress is reviewing ways to help implement laws giving the Treasury department and Internal Revenue Service more teeth in implementing policy firms will obey and follow (CNN, 2014). The Treasury Department policy is a first in effectively ending the "hopscotch" tax game. Hopscotch procedures is when a firm gets out of paying taxes on their foreign profits brought back to the United States. The firm simply takes the profits and in the form of a loan subsidy lends it to the new foreign parent company firm "hopscotch" over the taxes while the firm reaps the financial rewards tax free (CNN, 2014). The new policy will consider "hopscotch" loans property of the United States and taxable no matter of where the loan subsidy ends up (CNN, 2014). Along with taxing offshore hopscotch loans the treasury department is looking to cut off inversion indefinitely from happening in the first place. The two rules implemented would follow as one; the United States Company cannot slim down the firm before merging (CNN, 2014). Most dividend holders see extremely high ... Get more on HelpWriting.net ...
  • 37. The Federal Reserve Now the following information is well documented and is presented for your review and edification. Do not try to fight the IRS in federal court, you will not win. The deception runs rampant throughout the executive, legislative and judicial branches. Now let us begin with the admission of the US attorney general that the IRS is not an agency of the Federal Government. What they actually admit it?...why yes they do in (Diversified metal Products v. IRS etal. CV–93–405E–EJE U.S.D.C.D.I.) You can click on the citation for a complete text of the discovery document and I refer you to discovery question No. 4 on page 2 where the attorney general specifically denies that the IRS is an agency of the Government. Holy cow! The IRS is not... Show more content on Helpwriting.net ... Notice what is missing from their reply. They leave out critical definitions that are very important to the truth of the matter. http://www.irs.gov /businesses/small/article/0,,id=106508,00.html The Law: There is a host of constitutional and statutory authority establishing that the Internal Revenue Service is an agency of the United States. The U.S. Supreme Court stated in Donaldson v. United States, 400 U.S. 517, 534 (1971), "[w]e bear in mind that the Internal Revenue Service is organized to carry out the broad responsibilities of the Secretary of the Treasury (Notice they do not define Secretary) under В§ 7801(a) of the 1954 Code for the administration and enforcement of the internal revenue laws." Pursuant to section 7801, the Secretary of Treasury (again Notice they do not define secretary) has full authority to administer and enforce the internal revenue laws and has the power to create an agency to enforce such laws. Based upon this, the Internal Revenue Service was created. Thus, the Internal Revenue Service is a body established by "positive law" because it was created through a congressionally mandated power. Moreover, section 7803(a) explicitly provides that there shall be a Commissioner of Internal Revenue who shall administer and supervise the execution and application of the internal ... Get more on HelpWriting.net ...
  • 38. Employees And Soldiers Assigned For The Disbursing Operations 3.SCOPE: The provisions of this memorandum apply to all Employees and Soldiers assigned to the Disbursing Operations. 4.RESPONSIBILITIES: a.Disbursing personnel will be appointed to or terminated from their assigned duty position prior to the effective date of the change in status. It is the responsibility of the outgoing disbursing personnel to ensure the appointment/termination orders are prepared correctly. The Disbursing Office will maintain all current appointment orders and termination orders for one year after the date of termination. The Internal Review section will maintain all terminated appointment orders on file for six years and three months after the individual's termination date. All DD Form(s) 577 are maintained... Show more content on Helpwriting.net ... d.Cashiers will follow the oral and written instructions of the Commander/Director, Disbursing and/or other appointed deputies. e.It is important for Cashiers to possess a detailed knowledge of the functions and operations of the Disbursing Office, and a general knowledge of the DMPO as a whole. f.Cashiers are responsible for verifying the accuracy of the amount of cash received as collections to the Disbursing Office and for ensuring disbursements made are accurate and proper for payment. Other customer services will be as directed by the Commander/Director, the Disbursing Officer, or other appointed Deputies. g.Cashiers are expected to be courteous to all personnel reporting to the Defense Military Pay Office, and are required to maintain acceptable standards of appearance, performance, and conduct. Cashiers will not argue with Customers. If a problem surfaces with a Customer, it will be referred to the Disbursing Officer or Deputy, and if necessary will be brought to the attention of the personnel who prepared/approved the voucher. h.Embezzlement of Public Funds, Property, or Records: Under 18 U.S.C. 653 (reference(s)), Disbursing Officers or any accountable Officials shall be guilty of an embezzlement if they in any manner convert funds to personal use; loan funds with or without interest; deposit public funds entrusted to them in any place or in any manner, except as authorized by law; or for any purpose not prescribed by law, ... Get more on HelpWriting.net ...
  • 39. The Pros And Cons Of Alexander Hamilton In regards to the redesign of the $10 bill to include a female figure, Alexander Hamilton would have been one of the key people the U.S. would turn to for advice. If we were living in the time when Hamilton was Treasury Secretary, perhaps he would suggest the designation of an entirely different denomination of paper money for a woman in history. Being the visionary he was, his ideas often existed outside the status quo –– with brilliant results. But could we create a brand new denomination? And how? According to the Treasury Department, printing special currency requires an official proposal, new printing plates and several hundreds of thousands of dollars for additional printing and processing equipment, including the preparation of changing both the ... Show more content on Helpwriting.net ... The New York Times wrote in a Fourth of July editorial that it's a better idea to swap out Andrew Jackson, an ineffectual president, who would be appalled his portrait graces paper money. Hamilton, by contrast, designed the treasury system, not to mention the U.S. Mint. If anyone's legacy has been linked to U.S. currency, it is Hamilton's ––– whose illustrious reputation as a founding father of the United States and its banking systems was hard won. Alexander Hamilton, a penniless, fatherless orphan from the Caribbean, through high intellect, ambition and inherent ability to evoke action through brilliant essays, rose through the ranks first at King's College (now Columbia College), then, the Revolutionary War to become George Washington's most trusted aid. Always an early advocate for a federal, centralized government, his ideas would eventually bind the young wayward nation together. As an author of the Federalist Papers, he composed some of the most influential essays in American history, securing the need for the Constitution of the United ... Get more on HelpWriting.net ...
  • 40. Essay about The History of Customs and Border Protection Cultural Stewardship: CBP plays a role in protecting and enhancing culture for future generations, and takes significant conservation into account in planning and carrying out facilities and operational activities. CBP promotes communication and partnerships with Native groups, private sector, and important government entities, to safeguard traditional and cultural resources and guarantee their accountability and respectful treatment. HISTORY: The U.S customs service was initially established during 17th century by the first congress of the United States at 31 July 1789 under the fifth act, which emerged from the 2nd and 3rd act of the first congress of United States, which established the system of tariffs on imported goods and ... Show more content on Helpwriting.net ... 1789 was the year of establishment of the marine hospital services. In 1799 the customs ensign and pennant was designed by treasury secretary Oliver Wolcott. During 18th century customs services had eradicated the huge national debt incurred during the American Revolution. In 1836 commissioner of patents worked for the agriculture. On 27 December 1837 life saving service was established by the department of treasury. Customs Revenue represented 90% of all federal funds deposited in the U.S treasury, in 1860. The bureau of internal revenue was established in 1862, in order to fund cost of the civil war a personal income tax was also established by the treasury department. In the same year president Lincoln also established the department of U.S. agriculture. In 1870 U.S special agency service was established as the branch office in the office of secretary of the treasury. Revenues marine division was created in the treasury department in 1871. Various states began passing their own immigration laws after the civil war, which was led to the supreme court in 1875in which supreme court ruled that enforcement of immigration laws was a federal responsibility. In 1879 congress enables the creation of position of the fraud roll employee which is often titled as the customs agents or special agents. In 1890 custom administrative act established board of general appraisal which was renamed as United States customs court in 1926. The ... Get more on HelpWriting.net ...
  • 41. United States Response For Corporations From Fleeing The... RESEARCH PROPOSAL ASSESSING THE UNITED STATES RESPONSE TO PREVENT CORPORATIONS FROM FLEEING THE U.S. AND INCORPORATING ABROAD TABLE OF CONTENTS I.Abstract ............................................................................. 3 II.Introduction to the Problem ......................................................4–8 a.Economic Background ................................................... 4–5 b.Defining Corporate Inversion .......................................... 5–6 c.Historical Analysis and Political Response ........................... 6–7 d.Research Question ....................................................... 7 e.Hypothesis ................................................................ 8 f.Significance of Study ................................................... 8 III.Literature Review ................................................................. 8–10 IV.Methodology ...................................................................... 10–12 a.Research Design ......................................................... 10–11 b.Data Collection .......................................................... 11–12 c.Data Analysis ............................................................ 12 V.Anticipated Findings/Impact .................................................... 13 VI.References ......................................................................... 14 VII.Appendix ...........................................................................15 Abstract Companies deserting the United States and fleeing to foreign tax havens to escape United States taxation, a process known as corporate inversion strategy, is occurring with great frequency in the modern economy. The Burger King and Tim Hortons merger and planned reincorporation in Canada culminated the list of major American countries with pending mergers 2014. With one of the highestcorporate tax rates around the globe and the
  • 42. taxation of profits earned from foreign subsidiaries but brought back into the home country, companies are seeking ways to insulate their profits ... Get more on HelpWriting.net ...
  • 43. Hamilton And The Economy Essay example Your name Your teacher Date Hamilton and the Economy Since the birth of the country, there have been many influences on its development. The economy in particular has been an area of great importance. Many people have been factors in the growth of the United States' economy. Perhaps the earliest and most influential of these was Alexander Hamilton. As shown in his effective policies, such as assumption of Revolutionary War debts, practical taxation, formation of the National Bank, and views on manufacturing, Hamilton was a dominant force from the beginning. During his term as secretary of the treasury, he acted with the power and commanding force of a Prime Minister. None of the other founding fathers ... Show more content on Helpwriting.net ... Hamilton also showed his influence in the development of the country's taxation policies. He set up funding programs to pay off the now large national debt. "In raising money to meet the obligation of Assumption, he resorted to direct taxation as little as possible, and made luxuries bear the burden" (Bowers 20). Hamilton preferred taxing luxuries that only the rich could afford instead of merely taxing the entire population equally. Part of Hamilton's vision was to have a very commercial economy. He did not want taxation to discourage business growth, and made great efforts to make excise inspection non–oppressive (Mitchell 186). Hamilton did whatever was in his power to stimulate growth of industry so that the nation might grow into an economic giant. The early enactment of a National Bank would never have existed without Hamilton's drive. He single handedly planned and set the foundation for a bank, which was essential to his fiscal philosophy. His presentation to congress was so detailed and thorough that a majority if the House even needed explanation as to the rudimentary function of the bank (Mitchell 197). Jeffersonians opposed this plan because they had a strict view of the constitution, which did not call for a national bank. Hamilton used the elastic clause to justify this, and felt that the bank was "necessary and proper" to the function of the government. He also knew that the politicians he needed ... Get more on HelpWriting.net ...