Apr
2012 13
2012 13
ALEC: American Legislative Exchange Cancer
The hits keep coming for transparency activists praying for the demise of the American Legislative Exchange Council (ALEC), the über-conservative front group responsible for anti-union, pro-privatization and voter suppression legislation, among other ills. After massive members Coke, Pepsi and Kraft pulled out of the group, spokespeople for...
Apr
2012 10
2012 10
Judge Calls Wells Fargo’s Courtroom Behavior “Clandestine” and “Reprehensible”
The always excellent bank watchdog blog, Naked Capitalism, recently looked into the systemic accounting abuses of Wells Fargo as court proceedings continue to reveal just how severely victims of the mortgage crisis have been affected. But Wells Fargo’s legal team has done quite a job of hindering the legal process. Common cases in which...
Mar
2012 30
2012 30
“Sweetheart” Foreclosure Deal Enables Banks to Knock Over Houses Instead of Keeping People In Them
The sweetheart foreclosure deal that is drawing the ire of onlookers is now being understood to give banks credit for things they already do, further deepening the worry that the deal will in no way prevent another foreclosure crisis or sufficiently reprimand those responsible for the last one. The $25 billion foreclosure abuse settlement between ...
Mar
2012 22
2012 22
U.S. Treasury Plans to Collect 28% Less in Corporate Taxes Than Originally Thought
The Center for Tax Justice notes that the Treasury Department’s monthly statement shows the U.S. will collect $96 billion less in corporate taxes than originally thought: The latest monthly statement by the Treasury Department contains a startling revelation: the amount that Treasury expects to collect in corporate taxes in 2012 has been...
Mar
2012 20
2012 20
TAIBBI: Bank of America “is like the world’s worst-behaved teenager…”
Matt Taibbi’s artcile, “Bank of America:Too Crooked to Fail,” has been opening people’s eyes to the troubling relationship between Bank of America and the U.S. Government. Taibbi’s well-written and informative article takes a sarcastic tone at points as he points out the absurdity that of a nation allowing such an...
Mar
2012 19
2012 19
In Rhode Island, a Tale of Two Taxes
News came recently of a push by labor and other organizations to drum up support for a tax hike on Rhode Island’s wealthiest two percent: A coalition of organized labor and advocates for the disabled and the homeless in Rhode Island rallied at the State House on Tuesday, asking state lawmakers to raise taxes on ...
Mar
2012 7
2012 7
GE, Apple, Pfizer Among Corps. Hoarding $187 Billion in Non-Taxable Offshore Accounts
Perhaps one of the most important issues facing our economy today is the corporate tax rate and the way in which companies can scheme and loophole their way to paying far less than their fair share. It is an issue that is unlikely to undergo a sea change from either party in November, though, as ...
Mar
2012 7
2012 7
Far Right vs. Far Righter: Cato Institute Rebukes Charles Koch’s One-Sided Demands
There is a rift in Washington between the Libertarian research center the Cato Institute and the far-Right Koch Brothers that shows just how deep a divide politics can cause. The issue is that Charles Koch, a shareholder in Cato Institute, wants the research center to provide ammunition for his various political interests, such as Americans ...
Mar
2012 6
2012 6
BRIGHT IDEA: Ontario “May” Halt Corporate Tax Cuts. After All, They Froze Employee Wages.
It is a shame that the bar has been lowered so far that something as rational and level-headed as this warrants a celebration. Sadly, that is the tilted world we live in. Ontario has announced that instead of lowering the corporate tax rate while they’ve frozen employee wages and asked unionized workers to make contract ...
Mar
2012 6
2012 6
RIGGED-AMAROLE: Did Romney Help Marriot International Scheme Its Way Out of Taxes?
There may be no better day of the year to drum up some old fashion scandal-mongering than today, Super Tuesday, as Mitt Romney will “compete” against Rick Santorum and Newt Ginigrich in 10 different states for the votes of the GOP faithful. Something to keep an eye on, then, is this article from The Inquisitr ...
Mar
2012 2
2012 2
GE Now Averaging 2.3% Tax Rate Over the Last Ten Years Despite Taxpayer-Funded Bailout
It is not exactly news that General Electric (GE) is breaking laws and avoiding taxes while taking billions of dollars from the federal government. But, since GE’s CEO Jeffrey Immelt became President Obama’s “job czar,” the focus on this rehashed story has become ever-more personal for onlookers who can’t stomach...
Feb
2012 22
2012 22
In ’12, 70% of Companies Have Posted “Better-Than-Expected Results” As Wages Continue to Decline
The two-headed demon trend of increasing corporate profits and declining wages has shown little sign of abatement, according to the latest numbers: The year-over-year change in the so-called core consumer price index, which excludes volatile food and fuel, has outpaced hourly earnings for the last four months. In January, average hourly earnings...
