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U.S. Nuclear Sub Pact with Australia and Britain Sends a Message to the World
Written by: Ryan Ockenden, Associate Editor. The U.S. and U.K have partnered to enter a deal with Australia, referred to as AUKUS, which enables those nations “to share artificial intelligence, undersea capabilities…other advanced technologies and deepen cooperation on a range of defense capabilities in the Indo-Pacific region.[1] China has claimed that this deal damages regional peace, intensifies an arms race, undermines nuclear non-proliferation efforts, and goes against cooperation and trust.[2] That assertion is wholly rich considering China’s actions in the region. China’s ever-expanding presence in the Indo-Pacific region is troubling. It has acted boldly in its militaristic actions toward other nations – like Vietnam and the Philippines – challenging territorial…
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Liquidity Factor on Taxable Income
Written by: Mark Rokow, Associate Editor There should be a deduction for liquidity when recognizing Taxable Income under the Internal Revenue Code to help remedy inequitable tax applications to both domestic and international transactions. Liquidity, in this instance, is defined simply as how quickly an individual can turn an asset into money. The quicker an asset can become cash, the more liquid it is. Section 63 of the Internal Revenue Code defines taxable income as gross income less deductions allowed.[1] Section 61 defines gross income as “all income from whatever source derived.”[2] Based on these two definitions, taxable income is all non-excluded income, from whatever source, less deductions.[3] This definition…