Taxes

Biden, McCarthy say they have brokered a Debt Limit Deal to avert U.S. Default, but it Imposes Work Requirements on Benefits

By: Jennifer Shutt and Ariana Figueroa – WASHINGTON — House Speaker Kevin McCarthy announced a deal in principle Saturday night that would stave off a first-ever default on the nation’s debt as long as it can clear both chambers of Congress before June 5. The agreement would address the nation’s debt limit and include […]

Corporations

The Non-Profit Industrial Complex

Rebecca Gordon

( Tomdispatch.com) – We’ve just passed through tax time again. (Unless, like me, you live in one of several states ravaged by recent extreme weather events brought on by climate change. In that case, you can wait until October.) It’s also that moment when the War Resisters League — slogan: “If you work for peace, […]

Banking

$1 trillion in the Shade – the annual Profits that Multinational Corporations shift to Tax Havens continues to Soar

The Conversation

By Ludvig Wier, University of Copenhagen and Gabriel Zucman, University of California, Berkeley | – (The Conversation) – About a decade ago, the world’s biggest economies agreed to crack down on multinational corporations’ abusive use of tax havens. This resulted in a 15-point action plan that aimed to curb practices that shielded a large chunk […]

Drugs

Big Pharma spent more on Stock Buybacks and Dividends than on Research and Development even during COVID

F. Douglas Stephenson

Gainesville, Florida (Special to Informed Comment) – The 14 largest publicly-traded pharmaceutical companies spent $747 billion on stock buybacks and dividends from 2012 through 2021 — substantially more than the $660 billion they spent on research and development. So argue economists William Lazonick, professor emeritus of economics at University of Massachusetts, and Öner Tulum, a […]

Corporations

Congress Has No Business Shoveling Another $847 Billion Into the Military Industrial Complex

OtherWords

By Lindsay Koshgarian | – ( Otherwords.org ) – Can you imagine the audacity to fail a multi-trillion dollar audit of public funds, and then ask for even more of those taxpayer dollars? Pentagon leaders just did exactly that. This month news broke that the agency once again failed to pass a basic audit showing […]

Inequality

We Can’t Afford NOT to Have a Wealth Tax

Inequality.org

By Jack Metzgar | – ( Inequality.org) – Every time I hear that we as a nation cannot afford something — whether that might be assuring non-toxic water in Jackson and Flint or universal pre-K or an industrial policy with teeth — I have wondered how many dollars a national wealth tax might yield. So […]

Inequality

Inequality Kills. But We Can Stop the Killing

Sam Pizzigati

( Inequality.org ) – Over a half-century ago, back in the mid-1960s, books about poverty abounded. But publishers paid relatively little attention to wealth’s concentration. A generation earlier, Americans had obsessed about grand private fortunes. By late mid-century, that obsession no longer excited either the media or the public. That would all soon change, particularly […]

Electricity Cost

Germany to Give Electricity Rebates, financed with Windfall Profit Tax on Energy Corporations

Benjamin Wehrmann

( Clean Energy Wire ) – The German government plans to introduce a power price brake that will grant electricity consumers a lower price for a fixed share of their estimated use in 2021, a presentation prepared by the chancellery and seen by Clean Energy Wire showed. The measure will be financed with taxes retroactively […]

Banking

In Turkey’s plunging Economy, Conspiracy and Corruption allegations Abound

Global Voices

By Civic Media Observatory | – ( Globalvoices.org ) – Whether on a date or at a family gathering, one topic of conversation is on everyone’s lips in Turkey: the country’s deepening economic crisis. There are several angles to the story. While Erdoğan’s government argues that the country is in an “economic war” against enemies, […]