Biased headline: “Democrats Risk Fiscal Cliff by Targeting Top Earners’ Break” The article discusses President Obama’s threat to allow the automatic cuts to take place if the Republicans don’t agree to end the Bush-era tax cuts for the rich. But the title implies that the Democrats would be to blame if that happened.
Five years ago the wheels came off the financial system in our country. The risk-taking and gambling with other people’s money caught up with the financial giants who ruled the economic roost. This collapse grew out of the 2001 recession. The policy of then-President Bush and the GOP-controlled Congress and Senate was to lower taxes, […]
We’ve had a lot of talk about the privilege of the top 1 percent, and how they are grabbing more and more of our national income. Once, productivity increases were proportionally shared between corporations and workers. Now they’re mostly grabbed by companies and their top executives, while workers are left with decreased retirement savings, increased […]
(revised, 2014/10/28) Bloomberg reported in 2012: “A U.S. Senate committee memo said Microsoft Corp. (MSFT) used aggressive international tax maneuvers to avoid billions of dollars in taxes over the past three years. … Microsoft used transactions with subsidiaries in Puerto Rico, Ireland, Singapore and Bermuda to save at least $6.5 billion in taxes.” It “shifts […]