Business law (pick one of 5) Research Paper Example | Topics and Well Written Essays - 250 words

Business law (pick one of 5) - Research Paper Example t September the call for the regulations regarding overhauling the ruling and making those practices transparent started and those regulations became effective for the 2010 tax year effective December 15. The new law affects corporations (foreign and domestic) and insurance companies with assets in excess of $500 million, gradually reduced to $10 million by 2014. Kocieniewski seems to side with the corporations, but there are at least two valid reasons why the Government is justified in ending this money pit. (Kocieniewski) The one major argument the IRS uses to support the new â€Å"transparency† ruling is that its tax agents spend far too much time researching these claims as to their legitimacy and the agents’ time could be better spent going after tax cheats and proprietary information would not be shared. Another major problem is that during these austere times and Federal budget cuts, Congress is pressuring the tax people to collect more revenue and with more and more US jobs going overseas the bolstering the economy and creating jobs arguments of the major companies is flimsy at best. In conclusion, the new law is a difficult pill for the big companies to swallow. The previous IRS rule allowed the companies to keep any Uncertain Tax Position monies that weren’t audited within the three year statute of limitations. That was a lot of money for some of the major players, resulting in millions to billions of dollars in reserve â€Å"just in case†. For example Sheraton owner Starwood Hotels had almost a billion dollars in reserve, 21 per cent of its total 2009 earnings. The Fortune 500’s biggest companies like GM and Microsoft had reserves of $5.4 billion! Therefore if the corporations do business in the United States, they should be held to the same accountability as their employees are and pay Federal income tax at whatever rate they should. Grumbling for sure, but like the public they will learn to live with

What Does It Mean to Be a Member of Your Generation Essay

What Does It Mean to Be a Member of Your Generation - Essay Example According to Nouwen (26- 28), this generation lacks warmth and trust. Also, this generation will be known for its inwardness, fatherlessness, and convulsiveness by its successors. Too many social triggers stirring instability, religions, dominating figures from media, politics, religion, and society, have made this generation face emotional uncertainty. This confusion makes us, the millennials, withdraw from our social bonds and relations and look out for self-sufficiency. This is precisely the reason why single parents and individuals not looking for serious and legitimate relationships are more common as compared to an earlier generation. It can be seen that this self-centered attitude has made this generation more materialistic that focuses on meeting imminent personal needs only. Also, this need to have self-sufficient support has given rise to a generation that is demanding of its employers the way our predecessors used to be of their caregivers. They only attempt to stay in emp loyment where they are valued and praised by their employers and lack of this amicable relationship makes them look for alternative employment more rapidly as compared to earlier generations. This attitude is also another indication of social restlessness. Another major trait of this generation will be a rejection of the legitimate authority of social key figures as well as institutions. Being a member of this generation makes one more cynical towards social phenomenon and susceptible towards peer pressure. This generation faces anxiety in the pursuit of meeting social standards set by superficial criteria like compliance to current fashion trends and technological advancements. This pre-occupancy with temporary and always changing social criteria has made this generation more susceptible to seeking refuge in the virtual world and shunning regular social contact.