Your Farm Is Trying to Kill You
Politico
Public-private partnerships may indeed provide the dollars that fearful politicians are unable to pry from the pockets of their tax-averse constituents. But P3s, as they are known in the infrastructure sector, are more complex than they appear. The idea that P3s allow infrastructure to be built for free is economic snake oil, P3s do not end up saving taxpayers money, especially when policymakers obscure the true costs and the risks.
Raising consciousness about capitalism’s predations, even in beer, could encourage a movement to socialize brewing. In a democratically managed economic system, the freewheeling ethos of the microbrew movement would be free to flourish without being blackballed out of the market by the majors, or bought out if they manage to succeed. Now that would be a happy hour!
Among the report’s key findings: 100 companies enjoyed at least one year in which their federal income tax was zero or less, 24 companies paid zero taxes in four out of eight years, 18 companies paid no federal income tax over the eight-year period, Collectively, the 258 corporations enjoyed $513 billion in tax breaks over the last eight years. More than half of those tax breaks, $277 billion, went to just 25 of the most profitable corporations.
While inequality has become a topic of increased popularity and politicization in recent years, most of the attention has focused on how 1% own an increasingly large share of the world’s wealth, rather than on inequalities between nations. In a global context in which national borders and citizenship pose few barriers to the mobility of capital, the reality is also a story of the world’s richest nations continuing to reap a disproportionate amount of the globe’s profits.
The United Nations Earth Summit in 1992 took place in Rio de Janeiro, Brazil, and was supposed to establish guidelines for sustainable development. At the Summit, then Cuban President Fidel Castro gave a speech (short), warning of the dire consequences of failing to reverse course. Castro long warned that capitalism was threatening to destroy human civilization through ecological destruction, with the poor of the global South its first victims. Speech reprinted below.
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