What does a Trading Organization does?

What is the Purpose of Income Tax?

 

In the USA the income tax was originally meant to fund a war. They refused to put a cap of 10% on it because they were afraid the tax would immediately go to 10%. What a joke. Nowdays it is between 33% and 50%, less for real poverty income levels.

Politicians found they liked having all that extra money to sling around. Still do.

 

One of the geniuses of the founders of the US was the realization of how destructive an income tax would be. Such taxes were specifically prohibited in our Constitution. It took a Constitutional Amendment (#16) to get it started (http://en.wikipedia.org/wiki/Sixteenth_Amendment_to_the_United_States_Constitution).

John

 

I still do not understand what I asked?

 

Here:http://en.wikipedia.org/wiki/State_Trading_Organization

A Trading Organization is an organization developed to facilitate commerce. Many examples exist. You may have heard of the World Trade Center in New York.

John

 

U are explaining Maldivian History to me?

 

I still do not understand what I asked?

Have you been hanging out with some other well known off-topic poster lately Your postings in this thread seams to be in his spirit

 

Have you been hanging out with some other well known off-topic poster lately Your postings in this thread seams to be in his spirit

come again

 

U are explaining Maldivian History to me?

I am suggestion that both of your questions could easily have been answered by using a dictionary, Wikipedia,or Google. It turns out that the Maldivian State Trading Organization was the very first hit when I searched on STO's.

John

 

come again

Your works are characterized by cryptic historical and political allusions, quite typical for the member I am referring to

 

Your works are characterized by cryptic historical and political allusions, quite typical for the member I am referring to

again

come again?

 

Looks like Paradise guy is confused...

 

Indeed I am

Guys..please .quite teasing me and explain these in ur terms

 

Have you been hanging out with some other well known off-topic poster lately Your postings in this thread seams to be in his spirit

I think he is referring to Mister Loosewire...

 

I think he is referring to Mister Loosewire...

What does loosewire got to do with me?

What does Trading meaning....can they sell stuff or trade stuff

 

I am trying to understand certain things...
for eg: STO..it is a trading company right..can they sell stuff , can they monopolize a certain brand?

 

What does loosewire got to do with me?

Some of your writing has been kind of hard to understand.

What do you mean with STO?

 

I am trying to understand certain things...
for eg: STO..it is a trading company right..can they sell stuff , can they monopolize a certain brand?

Did you check the link? STO (used in the Wikipedia link) = State Trading Organization, which is in the Maldives, aka Paradise. It should be explained in Maldivian history what that organization does. According to Wikipedia, it was formed to bring commerce to the islands and improve the faltering local economy.



John

 

http://www.investopedia.com/articles/03/040203.asp


The purpose of the WTO is to ensure that global trade commences smoothly, freely and predictably. The WTO creates and embodies the legal ground rules for global trade among member nations and thus offers a system for international commerce. The WTO aims to create economic peace and stability in the world through a multilateral system based on consenting member states (currently there are slightly more than 140 members) that have ratified the rules of the WTO in their individual countries as well. This means that WTO rules become a part of a country's domestic legal system. The rules, therefore, apply to local companies and nationals in the conduct of business in the international arena. If a company decides to invest in a foreign country, by, for example, setting up an office in that country, the rules of the WTO (and hence, a country's local laws) will govern how that can be done. Theoretically, if a country is a member to the WTO, its local laws cannot contradict WTO rules and regulations, which currently govern approximately 97% of all world trade.

The site has lots of ads, so....I guess they want you to buy something they have traded for?

 

Yep. Remember, theory ain't always what is practiced. China has been a member since 2001.

John