Censored 2010: Bailed-Out Banks and America's Wealthiest Cheat IRS Out of Billions

1. Eighty-three of the top publicly held US companies have operations in tax havens like the Cayman Islands, Bermuda, and the Virgin Islands.

2. Swiss banking giant UBS (Union Bank of Switzerland) has enabled wealthy Americans to use tax schemes – some of which are illegal – to cheat the Internal Revenue Service (IRS) out of over $20 billion in recent years.

3. For corporations, the process of geographic tax avoidance is fairly simple. A US corporation will sell at reduced rates, even at a loss to their own offshore subsidiaries, and then resell products at higher prices, paying little or no taxes in the foreign country.

4. On February 19, 2009, UBS for the first time agreed to release to the US Department of Justice an as yet undetermined number of the names of bank account holders.

5. Anywhere from just 250 to 19,000 of US taxpayers with Swiss bank accounts face the prospect of IRS examination of their bank
documents with an eye to prosecution an/or civil litigation of the account holders.

6. There is a lot of money escaping taxation through entirely legal means through the provisions in the US tax code, and there is an accurate accounting of the revenues that are lost.



Lexis Nexis search results:
The topic of bailed-out banks is mildly censored. The public is starting to learn about It through news sources, and the wealthy are trying to hide it from the US. In an article I found, one of the biggest banks, the Union Bank of Switzerland is helping to keep the IRS from receiving taxes from large companies, however in a settlement they will be handing over the names of accounts of "certain United States clients." of course this is just a start and nothing can really be done to prevent US companies from getting away with tax fraud.
The US is trying their best now to fight the war on tax fraud by these big companies accepting bail-outs and hiding it in offshore banks.

Further Research:
What is interesting is that this same thing is happening right here in America before our own eyes. For instance, online gambling. Even though it is illegal here in the US, millions still get away with it and both the company (usually offshore) and the players don't pay any taxes at all.

Midterm Reflection

1. After studying media for eight weeks in this class, what have you learned? Please be specific.

Since the beginning of this class I have learned just how expansive media is, and how it affects us. There are so many mediums that it has become almost overwhelming trying to to pay attention to one at a time. I have realized all the different types of media around me and how each affects me in a different way, like how Twitter and TV are two completely different entities, but you can find the same kind of information from each.

2. What is the most important thing you have learned about yourself as a 1. A critical reader; 2. a writer, and 3. a critical thinker in this class so far?

1. I need to spend extra time in order to fully learn and understand the messages the texts are trying to reveal.
2. I am able to to explain my own personal ideals of media and the world around me.
3. I try and look past the initial message to find a deeper one hiding beneath it.

3. What's one thing YOU would do differently this first half of the semester if you were to take this class again?

I would probably have been more involved with online media (i.e. Twitter) and learned just how valuable they are as tools.

4. What's one thing you would like ME to do differently this first half of the semester if you were to take this class again?

Maybe a little less blog posts of readings or class work. they are helpful for remember what you were talking about, but can be a bit overwhelming to keep track of.

5. Please comment on the usefulness of the course blog, your personal blog, our films, and our books as learning tools.

I think they are all great ways to communicate exactly what we are learning in class, and allow us to go back and remember everything we have learned so we can go back and reflect on it.

Personal Blog/Media Meditation #1

President Barrack Obama's State of the Union Address

1. TRIUNE BRAIN - Explain how your triune brain interfaces with this media text.

A lot of Obama’s speech appeals to the limbic part of the brain. He uses a lot of emotion to reach the American population, including stories of actual people. He also keeps you thinking throughout the speech about how we will work through the economic crisis, reaching the neocortex in order to rationalize with the American people.

2. EIGHT TRENDS - what do you notice?

Technological Shift- The white house is shifting in technology and finding ways to reach bigger audiences. An example would be the fact that they are finally uploading and sharing videos on YouTube.

Personal Shift- Obama focuses on the factor that many people are jobless, which turns to a personal level for those who fit in that ratio. He is talking to all of America about the problem, which allows individuals to take from it, their own idea of the speech.

3. SEVEN PRINCIPLES - what do you notice?

Value Messages- He talks to the American People about how we can create jobs and stimulate the economy. Obama intended to use these value messages so the American people will react and get some kind of value out of it.

Individual Meaning- Obama gives a general idea about how we can fix the economy and job problems, but leaves it up to the people to derive their own meaning of how to successfully do it.

Emotional Transfer- Obama was able to connect the ideas and issues running through everyone’s head and turn it into something emotional that everyone could sympathize with. He starts off talking about how recently as a country we have been in shambles, but we are starting to turn around and work through the recession.

4. 29 TECHNIQUES OF PERSUASION - List and describe at least SIX persuasive techniques Obama uses.

1. Humor- Obama used humor when he was talking about the bank bailout; he said “it was about as popular as a root canal,” which everyone felt the same about and was a funny reference.
2. Strength- He uses his power of leadership to show boldness, aggressiveness, and an in charge attitude to explain how he plans to get through the job crisis and stimulate the economy.
3. Testimonial- He talks about people like the single teacher raising two kids that because of the recovery act she wouldn’t have to be laid off. He uses other examples of people to explain his point.
4. Scapegoating- He blames the economic crisis on the bailouts of Wall Street and Washington.
5. Group Dynamics- Obama talks about “we” as a nation need to work together to get through our current state. He never talks about himself doing the work, but the American people to create togetherness.
6. Bandwagon- Obama uses the idea that if we all work together and that everyone starts to address the issue of jobs, then people will join in on the issue. He creates the idea of hoping on the bandwagon to get everyone to join him.

5. IYOW, what is the 1 sentence thesis of Obama's speech?
Focusing and restructuring American jobs and fighting the economic crisis.

6. List THREE specific "facts" he provides to support his thesis.
• 7 million American’s are jobless
• 1 in 10 American’s cannot find work
• Cut taxes for 95% of families, small business, first time home buyers, etc.

Hi, I'm Josh. I am a Marketing Major and live here in Burlington, VT.

The fun media experience I had over break was seeing Avatar in 3-D. I enjoyed the 3-D portion, but was a little let down on plot of the movie.

One thing I like about our 21st century media is that is is very easy to access information and find almost anything you're interested in. The downside is that it is easy to access anyone's personal information, which could be used against you.

As far as my vision of the future, I hope to open a business together with a few of my friends. We are hoping to one day be able to put our abilities together and create something that will be very successful.