In 2014, Apple Inc. routed a significant portion of its international profits through an Irish structure that paid tax at an effective rate of around 0.005 percent. Not 0.5. Not 5. Five one-thousandths of a percent. For perspective, imagine earning $100,000 in a year and sending the
You can trade futures on frozen orange juice, feeder cattle, soybeans, rough rice, lean hogs, live cattle, lumber, coffee, sugar, platinum, ethanol, and natural gas. But there is one humble, fragrant exception. The onion. Sharp, tear-inducing, and somehow controversial enough to earn its own federal ban. The only statute in
In the grand theatre that is finance, we cling to consensus as if it were a life-raft in stormy seas. Duh. Nobody wants to be wrong alone. Nobody gets mocked for following the herd off the edge of the cliff. But the thing about herds is they don't