Lochnerized: Corporations have Constitutional Rights. Unions? Not So Much | Common Dreams
"Corporate Personhood is a farce, a facade conceived to subvert the rights of real people, a fictional idea imagined to ignore democracy in the name of enriching plutocrats, and it’s a legal fiction that destroys what it means to be a human being. It must end now!"
Friday, June 21, 2013
How American Society Unravelled After Greedy Elites Robbed the Country Blind | Alternet
How American Society Unravelled After Greedy Elites Robbed the Country Blind | Alternet
"Thirty years ago, the old deal that held US society together started to unwind, with social cohesion sacrificed to greed."
"Thirty years ago, the old deal that held US society together started to unwind, with social cohesion sacrificed to greed."
Matt Taibbi Reveals Financial Crisis Smoking Gun
Visit NBCNews.com for breaking news, world news, and news about the economy
High-Frequency Trading Actually Does More Harm Than Good
High-Frequency Trading Actually Does More Harm Than Good: Computerized financial trading that takes advantage of milliseconds of lag to capture profits isn’t actually good for markets, as high-frequency trading (HFT) proponents have long argued, according to wew work by University of Michigan economists. Instead, Quartz’s Simone Foxman writes, a common type of computerized HFT activity “harms the average investor” by skewing actually markets. [...]/p
Insurers To Rebate Consumers $500 Million As A Result Of Obamacare
Insurers To Rebate Consumers $500 Million As A Result Of Obamacare: This summer, over 8.5 million Americans will get back $500 million in rebates from insurance companies that charged them too much thanks to an Obamacare consumer protection that limits how much insurers can profit off of premiums, according to new government data. But the size of Americans’ rebate checks varies wildly by geographic region, highlighting [...]/p
How Wall Street Fraudsters Plunder Public Finances, And How to Fight Back | Alternet
How Wall Street Fraudsters Plunder Public Finances, And How to Fight Back | Alternet
"Let’s take a look at how bankers cooked up scams to drain the public coffers and why they continue to get away with it."
"Let’s take a look at how bankers cooked up scams to drain the public coffers and why they continue to get away with it."
Thursday, June 20, 2013
"Free Trade" Was Never Really About Trade | Common Dreams
"Free Trade" Was Never Really About Trade | Common Dreams
"If trade is good, then free trade must be better, right? So consider this old joke about "free trade."
"If trade is good, then free trade must be better, right? So consider this old joke about "free trade."
- It's not free.
- It's not trade.
Twenty years after NAFTA we can add that it doesn't work. It's bad for millions of workers, families and communities around the world."
Wealthy Capitalist Says Minimum Wage should be $15 Hour
Wealthy Capitalist Says Minimum Wage should be $15 Hour
"Some business people oppose an increase in the minimum wage as needless government interference in the workings of the market. In fact, a big increase would substantially reduce government intervention and dependency on public assistance programs."
"Some business people oppose an increase in the minimum wage as needless government interference in the workings of the market. In fact, a big increase would substantially reduce government intervention and dependency on public assistance programs."
Global Power Project: Identifying the Institutions of Control
Global Power Project: Identifying the Institutions of Control
"In this second part, I will attempt to identify some of the key, dominant institutions that have facilitated and have in turn been supported by the development of this oligarchic class. This is not a study of wealth, but a study of power."
"In this second part, I will attempt to identify some of the key, dominant institutions that have facilitated and have in turn been supported by the development of this oligarchic class. This is not a study of wealth, but a study of power."
Canada Bans the Mask: Unlawful Protesters Risk 10 Years in Prison - Truthdig
Canada Bans the Mask: Unlawful Protesters Risk 10 Years in Prison - Truthdig
"Masked protesters have become a common sight around the globe and Canada is so concerned about the phenomenon that parliament passed a bill that could, under certain circumstances, put disguised men and women away for a very long time."
"Masked protesters have become a common sight around the globe and Canada is so concerned about the phenomenon that parliament passed a bill that could, under certain circumstances, put disguised men and women away for a very long time."
Occupied Elementary: Community Sit-In Against School Shutdown | Common Dreams
Occupied Elementary: Community Sit-In Against School Shutdown | Common Dreams
"The widespread closures are backed by the political muscle of Chicago Mayor Rahm Emmanuel who says he is trying to save money for the city and consolidate schools he deems 'underutilized'. Chicago workers, students, parents, and community members charge that the closures will devastate Chicago workers and students and erode public education, disproportionately slamming poor people and people of color."
"The widespread closures are backed by the political muscle of Chicago Mayor Rahm Emmanuel who says he is trying to save money for the city and consolidate schools he deems 'underutilized'. Chicago workers, students, parents, and community members charge that the closures will devastate Chicago workers and students and erode public education, disproportionately slamming poor people and people of color."
Blue America Candidate Nick Ruiz (D-FL) Is Into The Cult
Blue America Candidate Nick Ruiz (D-FL) Is Into The Cult
"Nick is running against a lockstep conservative Republican, John Mica, in the Orlando district next door to Alan Grayson's. It's a winnable seat, although the DCCC seems less than interested in taking on the reactionary Mica. Romney only won the seat with 52% last November and Nick feels that if he has the financial support to get out his progressive message, people in central Florida are ready for real change. So, whether you want the Cult print or just want to help elect a fighting progressive, please consider making a contribution to Nick's campaign."
"Nick is running against a lockstep conservative Republican, John Mica, in the Orlando district next door to Alan Grayson's. It's a winnable seat, although the DCCC seems less than interested in taking on the reactionary Mica. Romney only won the seat with 52% last November and Nick feels that if he has the financial support to get out his progressive message, people in central Florida are ready for real change. So, whether you want the Cult print or just want to help elect a fighting progressive, please consider making a contribution to Nick's campaign."
Clear Evidence That Corporate America Wants the Govt. to Treat Protesters as 'Terrorists' | Alternet
Clear Evidence That Corporate America Wants the Govt. to Treat Protesters as 'Terrorists' | Alternet
"Corporations are trying to use the PATRIOT Act in ways that have nothing to do with Osama Bin Laden because the PATRIOT Act gives transnational corporations the power to snuff out the activism of all those who oppose them."
"Corporations are trying to use the PATRIOT Act in ways that have nothing to do with Osama Bin Laden because the PATRIOT Act gives transnational corporations the power to snuff out the activism of all those who oppose them."
Even Small Businesses Can’t Shake Mega-Corporations’ Chokehold On Access To The Courts
Even Small Businesses Can’t Shake Mega-Corporations’ Chokehold On Access To The Courts: In case it weren’t clear already, the U.S. Supreme Court hammered home Thursday morning that it will protect the rights of corporations to go to arbitration over the individuals’ access to the court system at any expense. In a 5-3 ruling with Justice Sonia Sotomayor recused, Justice Antonin Scalia eviscerated any opportunity small merchants have [...]/p
Day 1: Netroots Nation 2013 in San Jose CA
Day 1: Netroots Nation 2013 in San Jose CA
"If you've been depressed about the state of the nation, I guarantee you: Watching Netroots Nation will cheer you up. There's no other gathering like this, where progressives from all over the country meet to share successful strategies and tactics with everyone. There's nothing like it for breaking out of the Beltway Bubble."
"If you've been depressed about the state of the nation, I guarantee you: Watching Netroots Nation will cheer you up. There's no other gathering like this, where progressives from all over the country meet to share successful strategies and tactics with everyone. There's nothing like it for breaking out of the Beltway Bubble."
In Major Blow To Consumers, Supreme Court Protects Mega-Corporations From Liability
In Major Blow To Consumers, Supreme Court Protects Mega-Corporations From Liability: In case it weren’t clear already, the U.S. Supreme Court hammered home Thursday morning that it will protect the rights of corporations to go to arbitration over the individuals’ access to the court system at any expense. In a 5-3 ruling with Justice Sonia Sotomayor recused, Justice Antonin Scalia eviscerated almost any opportunity small merchants [...]/p
Health Care Plans Under Obamacare Will Cost Even Less Than Expected
Health Care Plans Under Obamacare Will Cost Even Less Than Expected: A new analysis of health care premiums proposed under the Affordable Care Act concludes that health plans will cost even less than originally expected. That’s likely because the insurance marketplaces will encourage more competition between insurers. Avalere Health looked at insurers’ proposed rates for Obamacare’s statewide insurance marketplaces in nine different states, and found that [...]/p
Millionaire Campaign Donor Could Singlehandedly Kill North Carolina’s Public Financing for Judicial Races
Millionaire Campaign Donor Could Singlehandedly Kill North Carolina’s Public Financing for Judicial Races: For nearly ten years, North Carolina’s judicial elections have been spared the multi-million-dollar slugfests that have swamped other states. Rather than relying on wealthy campaign contributors, appellate court candidates had access to public financing for their campaigns. A recent U.S. Supreme Court ruling made the program’s “matching” funds unconstitutional, and the 2012 N.C. high court [...]/p
Republicans Continue Quest To Cut $2 Billion A Year From Food Stamp Program
Visit NBCNews.com for breaking news, world news, and news about the economy
What Poverty Looks Like In America
Visit NBCNews.com for breaking news, world news, and news about the economy
How The Treasury Department Funnels Taxpayer Dollars To A Texas Bank
How The Treasury Department Funnels Taxpayer Dollars To A Texas Bank: Treasury Department efforts to cut administrative costs by pushing recipients of federal benefits to sign up for prepaid debit cards have ended up shoveling millions of taxpayer dollars to a Texas bank. The Center for Public Integrity reported Wednesday that Comerica Bank has gotten more than $22 million in federal money as a result of [...]/p
Sen. Warren Opposes Obama's Nominee For Trade Representative
Sen. Warren Opposes Obama's Nominee For Trade Representative
"Freshman Sen. Elizabeth Warren picked a fight with the administration yesterday over Obama's nominee for trade representative, saying she will oppose Michael Froman because of his refusal to share information about details of the Trans Pacific Partnership agreement."
"Freshman Sen. Elizabeth Warren picked a fight with the administration yesterday over Obama's nominee for trade representative, saying she will oppose Michael Froman because of his refusal to share information about details of the Trans Pacific Partnership agreement."
6 Unbelievable Ways the Big Banks Are Scamming You | Alternet
6 Unbelievable Ways the Big Banks Are Scamming You | Alternet
"Five years since the crash, the big banks continue to screw over their customers."
"Five years since the crash, the big banks continue to screw over their customers."
Wednesday, June 19, 2013
How Maryland Is Envisioning An Economic Future Beyond GDP
How Maryland Is Envisioning An Economic Future Beyond GDP: In a keynote address last Friday in Baltimore, Maryland Governor Martin O’Malley broke down the reasons behind his administration’s decision to make Maryland the first state in the union to employ a Genuine Progress Indicator (GPI), a quantitative assessment that integrates both the costs and the benefits of economic development into a monetary measure of [...]/p
Right-Wing Immigration Foes Get Burned by Reality | Alternet
Right-Wing Immigration Foes Get Burned by Reality | Alternet
"Right-wing opponents of immigration reform expected to get a potent weapon when they requested that the Congressional Budget Office score the reforms offered by the Senate “Gang of Eight.” But it turned out to be one of those 'be careful of what you wish for' moments, when CBO projected that the Senate bill would cut the dreaded federal deficit by $197 billion over the next ten years, and $700 billion more in the decade after that."
"Right-wing opponents of immigration reform expected to get a potent weapon when they requested that the Congressional Budget Office score the reforms offered by the Senate “Gang of Eight.” But it turned out to be one of those 'be careful of what you wish for' moments, when CBO projected that the Senate bill would cut the dreaded federal deficit by $197 billion over the next ten years, and $700 billion more in the decade after that."
Meet America’s Most Shameless Defender of the 1 Percent, Harvard Economist Greg Mankiw | Alternet
Meet America’s Most Shameless Defender of the 1 Percent, Harvard Economist Greg Mankiw | Alternet
"It’s not really news that America’s economics departments, particularly at elite institutions, are stuffed with people whose careers are founded on protecting monied interests. But it’s pretty rare when someone just comes straight out and announces the fact."
"It’s not really news that America’s economics departments, particularly at elite institutions, are stuffed with people whose careers are founded on protecting monied interests. But it’s pretty rare when someone just comes straight out and announces the fact."
US and Rest of G8 Won’t Follow UK on Corporate Transparency | Common Dreams
US and Rest of G8 Won’t Follow UK on Corporate Transparency | Common Dreams
"The United States is being singled out for criticism after the Group of Eight (G8) rich countries failed to adopt a plan pushed by British Prime Minister David Cameron to require the creation of public country-level registries with detailed information on corporate ownership and activity."
"The United States is being singled out for criticism after the Group of Eight (G8) rich countries failed to adopt a plan pushed by British Prime Minister David Cameron to require the creation of public country-level registries with detailed information on corporate ownership and activity."
Beltway Interest Group Cash Floods Major State Judicial Elections, Investigation Finds
Beltway Interest Group Cash Floods Major State Judicial Elections, Investigation Finds: As interest groups have funneled more and more secret spending into elections of all kinds, judicial races have been no exception. In states with competitive elections for judgeships, spending has increased exponentially, moving judicial candidates to campaign in ways that may threaten their neutrality and turn them into politicians. A new investigation by the Center [...]/p
Republicans Want To Cut $20 Billion From Food Stamps
Visit NBCNews.com for breaking news, world news, and news about the economy
Big Lie: America Doesn't Have #1 Richest Middle-Class in the World...We're Ranked 27th! | Alternet
Big Lie: America Doesn't Have #1 Richest Middle-Class in the World...We're Ranked 27th! | Alternet
"America is the richest country on Earth. We have the most millionaires, the most billionaires and our wealthiest citizens have garnered more of the planet's riches than any other group in the world. We even have hedge fund managers who make in one hour as much as the average family makes in 21 years!
"America is the richest country on Earth. We have the most millionaires, the most billionaires and our wealthiest citizens have garnered more of the planet's riches than any other group in the world. We even have hedge fund managers who make in one hour as much as the average family makes in 21 years!
This opulence is supposed to trickle down to the rest of us, improving the lives of everyday Americans. At least that's what free-market cheerleaders repeatedly promise us. Unfortunately, it's a lie, one of the biggest ever perpetrated on the American people."
Bank Of America Employee: 'We Were Told To Lie'
Visit NBCNews.com for breaking news, world news, and news about the economy
Tuesday, June 18, 2013
How Republicans Who Took Millions In Farm Subsidies Justify Cutting Food Stamps
How Republicans Who Took Millions In Farm Subsidies Justify Cutting Food Stamps: The House plans to vote this week on a farm bill that cuts nearly $21 billion from food stamps, and several members who support the cuts have benefited significantly from the various forms of farm subsidies provided by the same legislation. The ten Republicans in question have collected about $6.7 million in federal farm money [...]/p
Celebrate the Defeat of the Granny Bashers! Billionaire-backed Campaign Fails to Cut Social Security and Medicare | Alternet
Celebrate the Defeat of the Granny Bashers! Billionaire-backed Campaign Fails to Cut Social Security and Medicare | Alternet
"Just to remind everyone, the Campaign to Fix the Debt (CFD) is yet another Peter Peterson-inspired initiative that has as its main goal cutting and/or privatizing Social Security and Medicare. Peterson has used the billions of dollars he earned as a Wall Street investment banker and private equity fund manager to finance a whole slew of Washington-based outfits for this purpose over the last two decades."
"Just to remind everyone, the Campaign to Fix the Debt (CFD) is yet another Peter Peterson-inspired initiative that has as its main goal cutting and/or privatizing Social Security and Medicare. Peterson has used the billions of dollars he earned as a Wall Street investment banker and private equity fund manager to finance a whole slew of Washington-based outfits for this purpose over the last two decades."
Unelected Emergency Manager Preparing To Break Detroit’s Pension Promises
Unelected Emergency Manager Preparing To Break Detroit’s Pension Promises: Detroit’s unelected “emergency manager” wants to stiff the city’s pensioners while repaying the large financial firms that hold the city’s debts. Emergency manager Kevyn Orr unveiled the plan last Friday while announcing that the city is unable to pay its current debts. The proposal asserts that the funding gap for Detroit’s pension obligations is five [...]/p
The Terror Con | Common Dreams
The Terror Con | Common Dreams
"For defense contractors, the government officials who write them mega checks, and the hawks in the media who cheer them on, the name of the game is threat inflation. And no one has been better at it than the folks at Booz Allen Hamilton, the inventors of the new boondoggle called cyber warfare."
"For defense contractors, the government officials who write them mega checks, and the hawks in the media who cheer them on, the name of the game is threat inflation. And no one has been better at it than the folks at Booz Allen Hamilton, the inventors of the new boondoggle called cyber warfare."
Bank of America Whistle-blower Bombshell: “We Were Told to Lie” to Rip Off Borrowers | Alternet
Bank of America Whistle-blower Bombshell: “We Were Told to Lie” to Rip Off Borrowers | Alternet
"Bank of America’s mortgage servicing unit systematically lied to homeowners, fraudulently denied loan modifications, and paid their staff bonuses for deliberately pushing people into foreclosure"
"Bank of America’s mortgage servicing unit systematically lied to homeowners, fraudulently denied loan modifications, and paid their staff bonuses for deliberately pushing people into foreclosure"
Monday, June 17, 2013
ASPIRA Charter Schools Spend Big Bucks To Break Unions
ASPIRA Charter Schools Spend Big Bucks To Break Unions
"Philadelphia public schools are the victim of a weird and evil set of priorities. In this interview, Philadelphia Mayor Nutter attempts to explain why public schools are being closed due to state cuts at the same time the state has found $400 million to build yet another prison."
"Philadelphia public schools are the victim of a weird and evil set of priorities. In this interview, Philadelphia Mayor Nutter attempts to explain why public schools are being closed due to state cuts at the same time the state has found $400 million to build yet another prison."
9 Ways the Right’s Ayn Randian Experiment Screws Over the Young | Alternet
9 Ways the Right’s Ayn Randian Experiment Screws Over the Young | Alternet
"Their decades-long assault on our core social values is on the verge of consuming its first complete generation of Americans. Born at the dawn of the Reagan era, Millennials were the first to be fully subjected to this all-out attack on the idea that we take care of each other in this country, and they’ll pay for it from the cradle to the grave."
"Their decades-long assault on our core social values is on the verge of consuming its first complete generation of Americans. Born at the dawn of the Reagan era, Millennials were the first to be fully subjected to this all-out attack on the idea that we take care of each other in this country, and they’ll pay for it from the cradle to the grave."
America Feeds the Rich | Common Dreams
America Feeds the Rich | Common Dreams
"The Republican-sponsored proposal slashes food stamps for poor children and pads farm subsidies for wealthy agri-businessmen."
"The Republican-sponsored proposal slashes food stamps for poor children and pads farm subsidies for wealthy agri-businessmen."
Parents Go On Hunger Strike To Protest School Budget Cuts
Parents Go On Hunger Strike To Protest School Budget Cuts: A group of four parents and school employees kicked off a hunger strike on the steps of the governor’s office on Monday to protest Philadelphia’s recent decision to close dozens of underutilized schools and lay off some 19 percent of the workforce, including “all 127 assistant principals, 646 teachers and more than 1,200 aides.” The [...]/p
Baton Rouge’s New Plan For Its Homeless Population: Give Them One-Way Bus Tickets
Baton Rouge’s New Plan For Its Homeless Population: Give Them One-Way Bus Tickets: Baton Rouge has a new idea for how to treat its 800 homeless residents: give them a one-way ticket out of town. Late last week, the city’s Metro Council approved a measure to fund one-way bus tickets for homeless people. Officials originally named it the “Clean Sweep” program; after they realized that comparing homeless people [...]/p
Banishing the Poor, Unemployed and Working Class from the Mainstream Media Implies That They are Worthless
Banishing the Poor, Unemployed and Working Class from the Mainstream Media Implies That They are Worthless
"How often do you come across an article or a television news story that presents a poor person in a positive light? Or for that matter when do you read about or see a story on an unemployed individual or the challenges of a working class American whose salary is receding as the stock market soars?"
"How often do you come across an article or a television news story that presents a poor person in a positive light? Or for that matter when do you read about or see a story on an unemployed individual or the challenges of a working class American whose salary is receding as the stock market soars?"
Lawsuit: McDonald's Forced Workers To Take Debit Cards For Pay
Lawsuit: McDonald's Forced Workers To Take Debit Cards For Pay
"What kind of low-life bottom-feeders came up with this brilliant idea? I guess getting away with using these cards for government benefits just emboldened the bankers to push them for the working poor."
"What kind of low-life bottom-feeders came up with this brilliant idea? I guess getting away with using these cards for government benefits just emboldened the bankers to push them for the working poor."
STUDY: Imposing Limits On Welfare Benefits May Lead To Higher Death Rates
STUDY: Imposing Limits On Welfare Benefits May Lead To Higher Death Rates: Limiting welfare benefits to those who successfully manage to find a job within a set time period puts those low-income individuals at a slightly increased risk of dying sooner, according to a new study. The study’s authors suggest that the higher death rates may stem from the fact that the current welfare system does not [...]/p
Bank Of America Paid Foreclosure Bonuses While Lying To Homeowners
Bank Of America Paid Foreclosure Bonuses While Lying To Homeowners: One of the nation’s largest mortgage servicers intentionally, knowingly, and routinely falsifies paperwork and lies to homeowners in order to boot them from their homes, according to bank insiders. The latest of many civil suits over Bank of America’s handling of foreclosures and mortgage modifications has produced affidavits from six former employees alleging the bank [...]/p
Why Our Schools Are Broke: Five Years of Corporate State Tax Avoidance | Common Dreams
Why Our Schools Are Broke: Five Years of Corporate State Tax Avoidance | Common Dreams
"We hear a lot about corporations avoiding federal taxes. Less well known is their non-payment of state taxes, which along with local taxes make up 90% of U.S. education funding."
"We hear a lot about corporations avoiding federal taxes. Less well known is their non-payment of state taxes, which along with local taxes make up 90% of U.S. education funding."
Florida’s Governor Signs Business-Backed Bill Banning Paid Sick Leave
Florida’s Governor Signs Business-Backed Bill Banning Paid Sick Leave: Florida Gov. Rick Scott (R) signed a bill on Friday that blocks local governments from implementing paid sick leave legislation, the Orlando Sentinel reports. He made his decision quickly, only taking four of the 15 days he legally had to review the bill before he signed it. In signing the bill, Scott sided with big [...]/p
Sunday, June 16, 2013
How The Few Choose Inequality For The Many
How The Few Choose Inequality For The Many
"The U.S has become a less equal society over the past 30 years, but it didn’t just happen. Inequality in the U.S. happened by design, not by chance. It is the direct result of government policy. David Cay Johnston writes that the top 1 percent had just 10 percent of all reported national income. By 1999 the top 1 percent claimed 20 percent of national income. Since 2000, they have claimed about 1 fifth of national income. During the recovery, from 2009 to 2011, 121 percent of gains in income went to the top 1 percent."
"The U.S has become a less equal society over the past 30 years, but it didn’t just happen. Inequality in the U.S. happened by design, not by chance. It is the direct result of government policy. David Cay Johnston writes that the top 1 percent had just 10 percent of all reported national income. By 1999 the top 1 percent claimed 20 percent of national income. Since 2000, they have claimed about 1 fifth of national income. During the recovery, from 2009 to 2011, 121 percent of gains in income went to the top 1 percent."
Saturday, June 15, 2013
Republicans And Some Democrats Are Quietly Rolling Back Obama’s Wall St. Regulations
www.politicususa.com/2013/06/15/republicans-democrats-quietly-rolling-obamas-wall-st-regulations.html
"There is no other way to describe what Republican intentions are in repeating the same deregulation frenzy except to deliberately destroy the American economy once and for all to allow their wealthy supporters the opportunity to step in and buy the United States lock, stock, and barrel."
"There is no other way to describe what Republican intentions are in repeating the same deregulation frenzy except to deliberately destroy the American economy once and for all to allow their wealthy supporters the opportunity to step in and buy the United States lock, stock, and barrel."
Elizabeth Warren Warns of Corporate Capture of U.S. Courts
Elizabeth Warren Warns of Corporate Capture of U.S. Courts
"Warren, a former Harvard Law professor, also criticized the “increasingly brazen and ideological pro-corporate tilt” of the Supreme Court and the D.C. Circuit. “Follow this pro-business trend to its logical conclusion, and sooner or later you’ll end up with a Supreme Court that functions as a wholly owned subsidiary of the Chamber of Commerce"."
"Warren, a former Harvard Law professor, also criticized the “increasingly brazen and ideological pro-corporate tilt” of the Supreme Court and the D.C. Circuit. “Follow this pro-business trend to its logical conclusion, and sooner or later you’ll end up with a Supreme Court that functions as a wholly owned subsidiary of the Chamber of Commerce"."
Friday, June 14, 2013
New "Pirates" Report on Corporate Tax Havens
New "Pirates" Report on Corporate Tax Havens
"The Institute for Policy Studies (IPS) has just released a report on tax havens, Corporate Pirates of the Caribbean. The report shows that the corporations engaged in the “Fix the Debt” austerity push would gain up to $173 billion in tax breaks from their proposal for a “territorial tax system.” So under the guise of cutting deficits (because the public thinks they want that), these companies are actually pushing a plan to line their pockets while adding to deficits."
"The Institute for Policy Studies (IPS) has just released a report on tax havens, Corporate Pirates of the Caribbean. The report shows that the corporations engaged in the “Fix the Debt” austerity push would gain up to $173 billion in tax breaks from their proposal for a “territorial tax system.” So under the guise of cutting deficits (because the public thinks they want that), these companies are actually pushing a plan to line their pockets while adding to deficits."
Global Power Project, Part 1: Exposing the Transnational Capitalist Class
Global Power Project, Part 1: Exposing the Transnational Capitalist Class
"A 2005 report from Citigroup coined the term “plutonomy” to describe countries “where economic growth is powered by and largely consumed by the wealthy few.” The report specifically identified the U.K., Canada, Australia and the United States as four plutonomies. Published three years before the onset of the financial crisis in 2008, the Citigroup report stated: “Asset booms, a rising profit share and favorable treatment by market-friendly governments have allowed the rich to prosper and become a greater share of the economy in the plutonomy countries.”
"A 2005 report from Citigroup coined the term “plutonomy” to describe countries “where economic growth is powered by and largely consumed by the wealthy few.” The report specifically identified the U.K., Canada, Australia and the United States as four plutonomies. Published three years before the onset of the financial crisis in 2008, the Citigroup report stated: “Asset booms, a rising profit share and favorable treatment by market-friendly governments have allowed the rich to prosper and become a greater share of the economy in the plutonomy countries.”
"The rich," said the report, "are in great shape, financially."
Britain’s Austerity Policies Forcing Homeless People To Live In Caves
Britain’s Austerity Policies Forcing Homeless People To Live In Caves: So many people have been seeking beds at shelters in central Britain that some homeless people have been forced to live in caves on the outskirts of town. Britain’s economy continues to reel from the austerity policies enacted by the conservative government, and it is having a tragic human impact in places like Stockport. As [...]/p
Why Elizabeth Warren’s Plan For Student Debt is an Economic Breakthrough | Alternet
Why Elizabeth Warren’s Plan For Student Debt is an Economic Breakthrough | Alternet
"On July 1, interest rates will double for millions of students – from 3.4% to 6.8% – unless Congress acts; and the legislative fixes on the table are largely just compromises. Only one proposal promises real relief – Sen. Elizabeth Warren’s “Bank on Students Loan Fairness Act.” This bill has been dismissed out of hand as “shameless populist demagoguery” and “a cheap political gimmick,” but is it? Or could Warren’s outside-the-box bill represent the sort of game-changing thinking sorely needed to turn the economy around?
"On July 1, interest rates will double for millions of students – from 3.4% to 6.8% – unless Congress acts; and the legislative fixes on the table are largely just compromises. Only one proposal promises real relief – Sen. Elizabeth Warren’s “Bank on Students Loan Fairness Act.” This bill has been dismissed out of hand as “shameless populist demagoguery” and “a cheap political gimmick,” but is it? Or could Warren’s outside-the-box bill represent the sort of game-changing thinking sorely needed to turn the economy around?
Warren and her co-sponsor John Tierney propose that students be allowed to borrow directly from the government at the same rate that banks get from the Federal Reserve — 0.75 percent."
How much can tax policy curb income inequality growth? Maybe a lot | Economic Policy Institute
How much can tax policy curb income inequality growth? Maybe a lot | Economic Policy Institute
"The bottom line for policymakers: Raising top tax rates could yield large results in slowing income inequality growth without unduly hampering economic growth. This is just one more piece of evidence suggesting that Washington’s dominant framework for tax reform is divorced from economic research and needs serious reevaluation."
"The bottom line for policymakers: Raising top tax rates could yield large results in slowing income inequality growth without unduly hampering economic growth. This is just one more piece of evidence suggesting that Washington’s dominant framework for tax reform is divorced from economic research and needs serious reevaluation."
Thursday, June 13, 2013
Wisconsin’s System Increasingly Rigged Against the Unemployed
Wisconsin’s System Increasingly Rigged Against the Unemployed
"With the latest Federal Reserve Bank of Philadelphia index ranking Wisconsin 49th out of 50 in economic outlook, high unemployment in Wisconsin is a problem that is not likely to go away any time soon. But, instead of trying to fix the economy in Wisconsin, Governor Scott Walker's Department of Workforce Development (DWD) is finding new ways to disqualify the unemployed from collecting benefits. This is unlikely to do anything but compound Wisconsin's economic woes."
"With the latest Federal Reserve Bank of Philadelphia index ranking Wisconsin 49th out of 50 in economic outlook, high unemployment in Wisconsin is a problem that is not likely to go away any time soon. But, instead of trying to fix the economy in Wisconsin, Governor Scott Walker's Department of Workforce Development (DWD) is finding new ways to disqualify the unemployed from collecting benefits. This is unlikely to do anything but compound Wisconsin's economic woes."
Five Ways To Jumpstart The Middle Class — And The Economy
Five Ways To Jumpstart The Middle Class — And The Economy: The Center for American Progress unveiled a sweeping economic agenda on Thursday, in a report titled “300 Million Engines of Growth: A Middle-Out Plan for Jobs, Business, and a Growing Economy.” The agenda is premised on the notion that income inequality and the erosion of the middle class hamper economic growth, and that American policy [...]/p
You Wouldn't Believe Bank of America's Latest Scam | Alternet
You Wouldn't Believe Bank of America's Latest Scam | Alternet
"It appears that big bank Bank of America is up to the same old dirty tricks that helped contribute to America’s financial meltdown in the first place."
"It appears that big bank Bank of America is up to the same old dirty tricks that helped contribute to America’s financial meltdown in the first place."
The Shocking Amount of Wealth and Power Held by 0.001% of the World Population | Alternet
The Shocking Amount of Wealth and Power Held by 0.001% of the World Population | Alternet
"Many now know the rhetoric of the 1% very well: the imagery of a small elite owning most of the wealth while the 99% take the table scraps."
"Many now know the rhetoric of the 1% very well: the imagery of a small elite owning most of the wealth while the 99% take the table scraps."
Wednesday, June 12, 2013
University of Tennessee Set to Lease Forest For Fracking, Enriching Governor's Family
University of Tennessee Set to Lease Forest For Fracking, Enriching Governor's Family
"8,600 acres of the Cumberland Forest owned by University of Tennessee-Knoxville will be leased off to the oil and gas industry this August in a new form of "frackademia" - and one of the top financial beneficiaries will be the family of Republican Gov. Bill Haslam, who sits on UT-Knoxville's Board of Trustees."
"8,600 acres of the Cumberland Forest owned by University of Tennessee-Knoxville will be leased off to the oil and gas industry this August in a new form of "frackademia" - and one of the top financial beneficiaries will be the family of Republican Gov. Bill Haslam, who sits on UT-Knoxville's Board of Trustees."
Meet The Foreclosed Grandmas Facing Federal Charges For Protesting ‘Too Big To Jail’
Meet The Foreclosed Grandmas Facing Federal Charges For Protesting ‘Too Big To Jail’: Seven women were arraigned Tuesday in Washington, D.C., on federal charges of “unlawful entry” stemming from last month’s homeowner sit-ins at the Department of Justice and a lawfirm called Covington and Burling. Protesters targeted Covington for its revolving-door relationship with a government that’s failed to prosecute Wall Street. When Lanny Breuer stepped down as head [...]/p
Yet Another Big Money Financial Scandal: Five Traders Say Foreign Currency Exchange Rates Rigged
Yet Another Big Money Financial Scandal: Five Traders Say Foreign Currency Exchange Rates Rigged
"Yes, Bloomberg reports that five big-time currency traders (as in converting dollars to yen for example) say that they have engaged in or witnessed the fixing of exchange rates for greater profit.
"Yes, Bloomberg reports that five big-time currency traders (as in converting dollars to yen for example) say that they have engaged in or witnessed the fixing of exchange rates for greater profit.
In a rather complicated scheme that involves split-second timing, foreign currency traders, executing orders on behalf of clients, game the system to make larger profits at the expense of those who have retained them to convert currencies.
That's a wordy way of saying clients get cheated by some of the foreign currency traders, because the traders are driving up exchange rates and making money on the increased margin."
Subscribe to:
Posts (Atom)