Insurable risk:
1. Large number of similar exposure units:
2. Definite
loss:
3. Accidental loss:
4. Large loss:.
5. Affordable premium:
6. Calculable loss:
7. Limited risk of catastrophically large losses:
Friday, November 8, 2013
Thursday, May 16, 2013
IRS 501(c)(4) Debacle
I agree that any IRS employees who spent more time hassling right leaning organization applications to become a tax exempt organization in the 501(c)(4) regulations mishandled their government responsibilities.
The fact is that every organization deserves equal treatment from our government civil servants and any deviation from this ought to be managed by operational oversight.
What aggravates me more than anything is the Republican Parties insistence in making every governmental system failure a scandal. An even which warrants public flogging, often times before an internal government investigation has been completed.
Two points, first, there is an obligation in every organization to perform a root cause investigation when there is any system breakdown or failure within the organization to properly address the system failure as part of the continuous improvement cycle.
Second, when there is a possibility of criminal or civil liability, the facts need to be gathered by the appropriate law enforcement agency without undue influence obstructing or tainting the investigation.
The Republican Party in their zeal to damage their Democratic opponents routinely manages to disrupt both internal and legal investigative processes by bringing public, opinions, partial information, and innuendo.
Disgusting in the case of the IRS treatment of citizens seeking 501(C)(4) tax exempt status since one of the very reasons for the lack of guidance in implementing this 1954 regulation is the IRS Agency change in language from the congressional passes legislation from this:
Charities-&-Non-Profits/Other-Non-Profits/Social-Welfare-Organizations
To language that removes the word exclusively to a word with an entirely different meaning "primarily".
Have a read here about the entire story:
Congressional Oversight Needs Committee Hearing on Why Darrell Issa Failed in his Congressional Oversight Duties.
The fact is that every organization deserves equal treatment from our government civil servants and any deviation from this ought to be managed by operational oversight.
What aggravates me more than anything is the Republican Parties insistence in making every governmental system failure a scandal. An even which warrants public flogging, often times before an internal government investigation has been completed.
Two points, first, there is an obligation in every organization to perform a root cause investigation when there is any system breakdown or failure within the organization to properly address the system failure as part of the continuous improvement cycle.
Second, when there is a possibility of criminal or civil liability, the facts need to be gathered by the appropriate law enforcement agency without undue influence obstructing or tainting the investigation.
The Republican Party in their zeal to damage their Democratic opponents routinely manages to disrupt both internal and legal investigative processes by bringing public, opinions, partial information, and innuendo.
Disgusting in the case of the IRS treatment of citizens seeking 501(C)(4) tax exempt status since one of the very reasons for the lack of guidance in implementing this 1954 regulation is the IRS Agency change in language from the congressional passes legislation from this:
Charities-&-Non-Profits/Other-Non-Profits/Social-Welfare-Organizations
To language that removes the word exclusively to a word with an entirely different meaning "primarily".
Have a read here about the entire story:
Congressional Oversight Needs Committee Hearing on Why Darrell Issa Failed in his Congressional Oversight Duties.
Friday, January 4, 2013
US Debt Ceiling Limits
Politicians who refuse to increase the Debt Ceiling of the United States of America in attempt to gain perceived leverage in a political discussion citing differences on views for the size shape and funding of our government are playing with fire.
Most who speak on refusing to raise the debt ceiling without spending cuts have little understanding about our existing debt and the congressional irresponsibility to properly associate that debt with a realistic actuarial projection of our debt ceiling requirements.
The debt ceiling is the sum total of the debt our government has accumulated over the course of our 200 plus year history. Every year our congress passed legislation which includes budget bills and other unfunded expenditures, our government issued and sold bonds/bills to fund the government expenditures.
So as our government debt securities come due, some securities are offered for a period of less than a year (treasury bills) and others are securities extended for periods up to thirty years. For example, a bond sold in 1983 with a 30 year maturity, come due comes due in 2013. Since the government is not running a surplus that means our government must be able to roll over this old debt security that's coming due. This can only be done by selling new debt.
If a politician really wants to start to pay down our countries debt, they must establish a budget with more revenue than spending. Any combination of raising revenue and managing spending which creates an annual surplus, ending deficit spending, is the path forward.
The debt ceiling is not a budget. And we depend on being able to find buyers for these new bonds so we can pay off the old bonds. Were we not able to do so, then the Fed would have to monetize the debt and the ensuing inflation would reduce America to a third world country with inflation like Zimbabwe.
If these knuckleheads really wanted to control our countries debt they would not have established temporary tax cuts which created budget deficits which added hundreds of millions of dollars to our debt year after year after year.
The time has come for citizens of the United States of America to increase their financial prowess.
Never allow a politician to demand spending cuts from basic important government programs that help citizens aspire to the American Dream due to the fact that these same politicians denied government adequate revenue from the entire preceding decade.
And our constitutions 14th Amendment forbids default.
Is it treasonous not to support our constitution after taking an oath to do so?
Most who speak on refusing to raise the debt ceiling without spending cuts have little understanding about our existing debt and the congressional irresponsibility to properly associate that debt with a realistic actuarial projection of our debt ceiling requirements.
The debt ceiling is the sum total of the debt our government has accumulated over the course of our 200 plus year history. Every year our congress passed legislation which includes budget bills and other unfunded expenditures, our government issued and sold bonds/bills to fund the government expenditures.
So as our government debt securities come due, some securities are offered for a period of less than a year (treasury bills) and others are securities extended for periods up to thirty years. For example, a bond sold in 1983 with a 30 year maturity, come due comes due in 2013. Since the government is not running a surplus that means our government must be able to roll over this old debt security that's coming due. This can only be done by selling new debt.
If a politician really wants to start to pay down our countries debt, they must establish a budget with more revenue than spending. Any combination of raising revenue and managing spending which creates an annual surplus, ending deficit spending, is the path forward.
The debt ceiling is not a budget. And we depend on being able to find buyers for these new bonds so we can pay off the old bonds. Were we not able to do so, then the Fed would have to monetize the debt and the ensuing inflation would reduce America to a third world country with inflation like Zimbabwe.
If these knuckleheads really wanted to control our countries debt they would not have established temporary tax cuts which created budget deficits which added hundreds of millions of dollars to our debt year after year after year.
The time has come for citizens of the United States of America to increase their financial prowess.
Never allow a politician to demand spending cuts from basic important government programs that help citizens aspire to the American Dream due to the fact that these same politicians denied government adequate revenue from the entire preceding decade.
And our constitutions 14th Amendment forbids default.
Is it treasonous not to support our constitution after taking an oath to do so?
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- FConSMod
- Elections matter-openly cynical of government business as usual-Supreme Court Justices 5-4 open warfare on my Individual Liberty-Teach as Knowledge is Power!