Ocean City – Things to do this weekend

first_imgSunday, March 27, 2016Easter Sunrise Service:A traditional non denominational service by the sea. All are welcome. 6:30am, Music Pier, Moorlyn Terrace and Boardwalk. For more information call 609-399-6111. Easter Fashion Promenade:In front of the Music Pier, Moorlyn Terrace & Boardwalk.  Come dressed in your Easter best to stroll in our Fashion Promenade and meet the Easter Bunny.  Judging begins at 1:00pm. For more information call 609-399-6111. A mother and son enjoy a sunny afternoon in Ocean City near 21st Street. Saturday, March 26, 2016Woofin’ Paws Pet Fashion Show: 11:00 am at Carey Stadium, 6th St. off the Boardwalk.  Dress your pets in their Easter’s best. For more information call 609-399-6111.The Great Egg Hunt:2:30pm, 11th St. – 14th St. Beach.Five (5) age groups 0-2yrs and 3yrs (11th Street) 4yrs and 5yrs (12th Street) & 6yrs and  7yrs old (13th Street). Raindate: March 27th. For more information call 1-800-BEACH-NJ.last_img read more

U.S. is becoming world’s new tax haven

first_imgThe U.S. was expected to reciprocate, by sharing data on the accounts of foreign taxpayers with their respective governments.Yet Congress rejected the Obama administration’s repeated requests to make the necessary changes to the tax code.As a result, the Treasury cannot compel U.S. banks to reveal information such as account balances and names of beneficial owners.The U.S. has also failed to adopt the so-called Common Reporting Standard, a global agreement under which more than 100 countries will automatically provide each other with even more data than FATCA requires.While the rest of the world provides the transparency that the U.S. demanded, the U.S. is rapidly becoming the new Switzerland.Financial institutions catering to the global elite, such as Rothschild & Co. and Trident Trust Co., have moved accounts from offshore havens to Nevada, Wyoming and South Dakota.New York lawyers are actively marketing the country as a place to park assets. A Russian billionaire, for example, can put real-estate assets in a U.S. trust and rest assured that neither the U.S. tax authorities nor his home-country government will know anything about it.That’s a level of secrecy that not even Vanuatu can offer.From a certain perspective, all this might look pretty smart: Shut down foreign tax havens and then steal their business. That would be the kind of thinking that’s undermining America’s standing in so many areas, from trade to climate change.Instead of using its power to establish an equitable system of global governance, it’s demanding a standard from the rest of the world that it refuses to apply to itself.That isn’t leadership.More from The Daily Gazette:EDITORIAL: Urgent: Today is the last day to complete the censusEDITORIAL: Beware of voter intimidationEDITORIAL: Thruway tax unfair to working motoristsEDITORIAL: Find a way to get family members into nursing homesFoss: Should main downtown branch of the Schenectady County Public Library reopen? Seven years ago, the U.S. led an effort to address a problem facing governments everywhere.Each year, people manage to avoid paying an estimated $2.5 trillion in income tax — a giant sum that could be used to combat poverty, update infrastructure or lower tax rates for law-abiding citizens.Now, however, the U.S. is becoming one of the world’s best places to hide money from the tax collector. It’s a distinction the country would do well to shed.In 2009, amid growing budget deficits and a tax-fraud scandal at Swiss bank UBS AG, the Group of 20 developed and developing nations came to an agreement:They would no longer tolerate the network of havens, shell companies and secret accounts that had long abetted tax evasion.A year later, the U.S. passed the Foreign Account Tax Compliance Act, which required foreign financial institutions to report the identities and assets of potential U.S. taxpayers to the Internal Revenue Service.Under threat of losing access to the U.S. financial system, more than 100 countries — including such traditional havens as Bermuda and the Cayman Islands — are complying or have agreed to comply.center_img Categories: Editorial, OpinionThe following editorial appears on Bloomberg View:last_img read more