Tag Archives | Debt

Kansas Will Auction Off Sex Toys to Recoup $163k in Tax Debts

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via The Topeka Capital-Journal:

Kansas state government is on the verge of a financial windfall with the auctioning of thousands of sex toys seized by the revenue department for nonpayment of income, withholding and sales taxes, an official said Wednesday.

Online shoppers for adult DVDs, novelty items, clothing and other products can participate in a bonanza shopping experience resulting from the four-county raid on a Kansas company known as United Outlets LLC.

Owner Larry Minkoff, who was doing business under the Bang label, apparently resisted requests from the Kansas Department of Revenue for payment of $163,986 in state taxes. It is unclear how much he still owes the state, because those precise records aren’t open to the public.

Agents took action in July to seize business inventory at outlets in Topeka, Wichita, Junction City and Kansas City, Kan., under Minkoff’s control. Two of the five business locations were in Topeka.

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Our Economy Wants You to Be In Debt—5 Things You Can Do to Take Charge

PIC: Brendel (CC)

PIC: Brendel (CC)

Liz Pleasant writes at Yes! Magazine:

Last month PM Press published the Debt Resisters’ Operations Manual —also known as “the DROM.” But don’t let that menacing-sounding acronym fool you: this is a book written in plain English and filled with tips and tactics for dealing with debt.

The book has been available online since September 2012, but this publishing marks the first time the manual has been printed, bound, and sold. Don’t worry, you can still find a free copy online. But, hopefully, getting this book into stores will help its message reach more people—however ironic it might seem to buy one with a credit card.

“Everyone is a debtor so there’s no limit to the audience” said Andrew Ross, a member of the Occupy Wall Street offshoot called Strike Debt, in an interview with Guernica Magazine. Although Ross has gone public, most of the authors of the Debt Resister’s Operations Manual have chosen to remain anonymous.

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Chilean Artist, Activist ‘Liberates’ $500 Million Dollars of Student Debt — By Burning It

PIC: Coyau (CC)

PIC: Coyau (CC)

Andrea Germanos writes at Common Dreams:

An artist and activist in Chile has “freed” university students from their student debt by burning $500 million dollars in debt notes.

The action was the work of visual artist Francisco “Papas Fritas” Tapia, who took the debt notes during a student takeover of the University del Mar, burned them to ashes, and put them on display as an exhibit.

“Authorities began shutting down” the university “last year for financial irregularities and encouraged students to seek out alternative universities,” the Santiago Times reported, but “the university is still collecting on its student loans.” It is slated to close at the end of this year.

Chile has been hit since 2011 by waves of student protests that have denounced the Pinochet-era education policies that have enabled ‘profiteering’ and privatization at the nation’s schools, and have prompted demands for education to be a public good, not a commodity.

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When The Government Compounds Crimes Rather Than Fights Them: The Case of Mortgage Fraud

The Crime of Our TimeWe were all victims of the financial crisis that began in 2007 (not 2008) but some of us suffered more than others. And, hundreds of millions of us are still living with the painful aftermath as its consequences began to be felt worldwide.

The first order of business in Washington back then was to bail out the victimizers, who have done quite well, thank you very much, in rebuilding their citadels of profit.

They were only marginally impacted  by some fines that were finally assessed in lieu of jail sentences.

That  money was paid by the financial institutions,  and their shareholders,  not by decision-makers who were never held accountable. It was written off as a “cost of doing business” just as fraud became a way of doing business.

We have all read about the outrageous compensation schemes that offending executives have been rewarded with, even as the media has finally discovered deepening income inequality.… Read the rest

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Duke University Freshman Porn Star In Her Own Words: Discrimination, Debt and Stigma

Duke Chapel, a frequent icon for the universit...

Duke Chapel, a frequent icon for the university, can seat nearly 1,600 people and contains a 5,200-pipe organ. (Photo credit: Wikipedia) (PD)

A female student tells her story and explains why. The liberation of her body, hedonism, and the ability to afford tuition without hobbling debt.

via XOJane

I am a porn star. I am a college freshman. You know nothing about me.

“But why would you do porn?”

People often ask me this question. They know I am a freshman at Duke University, and their shock and incredulity are apparent when the rumor they’ve heard whispered or read on a chat board turns out to be true.

However, the answer is actually quite simple. I couldn’t afford $60,000 in tuition, my family has undergone significant financial burden, and I saw a way to graduate from my dream school free of debt, doing something I absolutely love. Because to be clear: My experience in porn has been nothing but supportive, exciting, thrilling and empowering.

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Encouraging Teachers To Go Into Debt To Buy Their Students’ School Supplies

Since we no longer adequately fund education, teachers’ love of their students is leveraged to emotionally pressure them into paying for essential classroom supplies out of their own pockets. Except, since we no longer pay teachers adequate salaries, they may need to go into debt to do so. Possibly at the forefront of a trend, the Silver State Schools Credit Union helpfully offers K-12 teachers personal loans to cover their students’ materials:

school_loan

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Activists Accuse World Bank’s Lending Arm Of Funding Deadly Honduran Conflict

dinantActivist group Rights Action is accusing the World Bank of indirectly funding a series of attacks against farmers allegedly committed by the security forces of Honduran businessman Miguel Facusse, chief of Corporacion Dinant.

Via Raw Story:

The bank’s private lending arm, the International Finance Corporation, is spearheading several multimillion-dollar projects in Honduras, one of the poorest countries in the Americas. However, some are questioning whether the money is doing more harm than good.

Human rights groups accuse the IFC of ignoring warnings that its funding for the Honduran palm oil industry is helping fuel a deadly land conflict that’s turning the fertile Aguan Valley near the country’s northern coast into a virtual military zone.

Farmworkers say they’ve been forced off land that’s mostly taken up by oil palm tree plantations. The controversy is casting doubts about whether the bank and its 182 member countries can respect their own code of ethics while doing business in politically unstable, corrupt societies.

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Occupy Wall Street Eliminates $15 million of Debt

Since the protest started in Zucotti Park in New York City near the financial district, the Occupy Wall Street movement has done a lot to raise awareness of the iniquities and corruption in the American political and economic system, whilst receiving biased mass-media editorializing and suffering undue violence from the local police. Since November 15, 2012, the Occupy movement started a program of debt-relief called “Rolling Jubilee,” which seeks to bailout individuals who have accrued debt through credit cards as well as medical bills. To date they have relieved millions of dollars in debt for just pennies on the dollar.

VIA Guardian

A group of Occupy Wall Street activists has bought almost $15m of Americans’ personal debt over the last year as part of the Rolling Jubilee project to help people pay off their outstanding credit.

Rolling Jubilee, set up by Occupy’s Strike Debt group following the street protests that swept the world in 2011, launched on 15 November 2012.

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ACLU Uncovers Illegal Debtors’ Prisons Across Ohio

debtors' prison

Despite being blatantly unconstitutional, citizens are commonly being jailed for their inability to pay tickets and fines, wreaking havoc on people’s lives (and costing the state far greater sums than the unpaid tickets), ACLU Ohio reveals:

The resurgence of contemporary debtors’ prisons sits squarely at this intersection of poverty and criminal justice. In towns across the state, thousands of people face the looming specter of incarceration every day, simply because they are poor.

For Ohio’s poor and working poor, an unaffordable traffic ticket or fine is just the beginning of a protracted process that may involve contempt charges, mounting fees, arrest warrants, and even jail time. The stark reality is that, in 2013, Ohioans are being repeatedly jailed simply for being too poor to pay fines.

The U.S. Constitution, the Ohio Constitution, and Ohio Revised Code all prohibit debtors’ prisons. The law requires that, before jailing anyone for unpaid fines, courts must determine whether an individual is too poor to pay.

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Congressmen Say Their Own Personal Debt is OK, but not Government Debt

Flickr user: Images_of_Money (CC)

Ah, “elected” government, where hypocrites are paid to advocate for causes they may or may not even agree with, and legislate rules that they themselves don’t follow. And apropos of budget hysteria and economic terrorism being wrought against popular public programs, the trumped-up fears are not only false (the debt crisis is imaginary, and only 6% of the country is aware that the deficit is actually falling) but it’s no surprise to anyone that the ‘debt-fixing’ warriors don’t have the same view of their own debt as they do of the country’s, or yours.

As Josh Israel of ProPublica points out, fourteen of the most vitriolic enemies of vital programs themselves live with the personal irresponsibility of private debt (to the tune of millions).

These hypocrites include:

  • House Budget Committee Member Tom Rice (R-SC):Wrote: “At a time when hardworking American families are living off of a budget, the federal government should be no different.
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