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.
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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.
Robert Reich explains why the wealthiest 1% pay a much lower tax rate than the rest of us--and what we can do about it.
Eight proposals to jump-start the incomes of workers.
The wealthiest Congress in history, the first in which a majority of members are millionaires, we have a one-sided discussion demanding cuts only in public assistance to the poor, while ignoring public assistance to the rich. And a one-sided discussion leads to a one-sided and myopic policy. We're cutting one kind of subsidized food - food stamps - at a time when Gallup finds that almost one-fifth of American families struggled in 2013 to afford food.
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