Portside

Congressional Progressive Caucus urged members to reject the so-called Cromnibus if a provision which helps big banks trade derivatives in units backstopped by a government guarantee remained in the spending measure. This kind of activity was a cause of the 2008 crisis - it a giveaway to wealthy campaign donors and Wall Street banks. Analysis for more information about key takeaways from the proposed spending bill, as well as a few controversial surprises.

People in the U.S. and around the world are being rapidly divided into two classes, the well-to-do and the lower-income majority. This severing of society will change only when progressive thinkers (and doers) agree on a single, manageable solution that will stop the easy flow of wealth to the privileged few.

Tax avoidance in the United States contributes to the national debt, but in developing countries it’s literally causing people to go hungry.

Microsoft Corp. is currently sitting on almost $29.6 billion it would owe in U.S. taxes if it repatriated the $92.9 billion of earnings it is keeping offshore, according to disclosures in the company's most recent annual filings with the Securities and Exchange Commission. Such maneuvers -- although often legal -- threaten to signficantly reduce U.S. corporate tax receipts during an era marked by government budget deficits.

The recent surge in interest in inversion transactions is explained primarily by U.S. based multinational firms’ increasingly desperate efforts to find a use for their stockpiles of offshore cash (now totaling around $1 trillion).

Since the 2010 election cycle, Walgreen’s Political Action Committee has spent $991,030 on federal elections. If it becomes a Swiss corporation, it shouldn’t be able to spend a penny more.

Reader Comments - Edward Snowden, NSA and NBC; Police Crimes; U.S. Cuba Policy; Tiananmen Anniversary; Ralph Fasanella's Art; Prisons and Solidarity Confinement; Workers and Labor; Taxes and Economic Growth; Carbon Pollution; New Populism; Sexual Harassment; Sexual assault of women protestors in India; Les Orear - R.I.P.

According to a new white paper by Nobel Prize-winning economist Joseph E. Stiglitz, our labyrinthine tax system is encouraging corporations to invest in creating jobs overseas, when unemployment remains doggedly high here at home, while giving US-based multinationals good reason to deprive our treasury of revenues when we should be investing in infrastructure and the American people.

Eight proposals to jump-start the incomes of workers.