Bob Cesca has posted the following chart, showing how the share of income labor sees is at a historic low: What’s interesting is how much the share dipped during the Bush years. During Clinton’s term, the rate was on the rise, after a substantial fall during the Reagan and Bush 41 years. So what does […]
Last week the Republican’s in the House voted to save the billions a year in tax subsidies to the oil industry, yet providing assistance to the low-income for their heating bills is on the chopping block. This week the House AG committee decided to keep the farm subsidies, which total close to $20 billion a […]
As if this comes as any shocker: Corporate America finished the second quarter with “near-historic” profits, largely by cutting costs, laying off employees and streamlining operations, the Wall Street Journal reports. Profits for companies in the S&P 500 soared 38 percent from the same period last year, hitting $189 billion, the WSJ says, the sixth-highest […]
The Supreme Court has just removed campaign donation restrictions on corporations: The Supreme Court has ruled that corporations may spend freely to support or oppose candidates for president and Congress, easing decades-old limits on their participation in federal campaigns. By a 5-4 vote, the court on Thursday overturned a 20-year-old ruling that said corporations can […]
Now that the American people have bailed out the banking system and our leaders are looking at ways to recoup the hundreds of billions of tax dollars we have spent, Wall Street is starting to look at ways to get out of paying us back. According to an article in today’s New York Times, the […]
McCain wants to give more tax breaks to corporate America, but what about the corporations that pay nothing in taxes? Two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, according to a new report from Congress. The study by the Government Accountability Office, expected to be released Tuesday, said about 68 […]
I have always hated those things. These are the “contracts” you sign when you start a new job stating you won’t go to work for a competitor. Well California’s Supreme Court has just now ruled them null and void: Californians have the right to move from one company to another or start their own business […]
It looks like some of the larger ISPs in the country are looking at ways to filter content to their subscribers in order to fight copyright infringements. It would be nice if we had an FCC that cared about consumer rights instead of corporate America’s profits.
A post-election e-mail to executives at the drug company GlaxoSmithKline details just how tough. “We now have fewer allies in the Senate,” says the internal memo, obtained by The Washington Post. “Thus, there is greater risk over the next two years that bad amendments will be offered to pending legislation.” The company’s primary concerns are […]
Yet more of our privacy is under attack and this time it comes from the IRS: The Internal Revenue Service is quietly moving to loosen the once-inviolable privacy of federal income-tax returns. If it succeeds, accountants and other tax-return preparers for the first time would be able to sell information from individual returns — or […]