Tag Archive for Business News

Public Money Continues to Supplement the Building of Private Corporate Infrastructure

Our nation is still experiencing the after-effects of major economic crisis, and yet public money continues to supplement the building of private corporate infrastructure. Time and time again, our legislators and government officials have proven that they’re willing to put the interests of the public aside in order to appease big business by lowering tax rates, offering more tax breaks, and increasing corporate subsidies.

These government subsidies do not encourage economic growth as much as productive taxpayers do, and as a result, everything from Social Security to unemployment and welfare rolls is affected. As you’ll see in the following article, when it comes to competitive business privileges—tax breaks, subsidies, overt political power—individuals and small businesses might as well fugetaboutit.

Welfare queens may actually look more like giant corporations.

From The Huffington Post

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Tax Cuts Do Not Increase Overall Revenues or Spur Domestic Business Investment and Job Growth

Cut taxes on the rich, so the argument goes, and this money will be reinvested at home. For those of you who have read Patriot Acts, we’ve been over this numerous times, but let me restate an empirical fact: Tax cuts for the wealthy do not increase overall revenues or spur domestic business investment and job growth.

A new longitudinal study compiles data from the last 65-years to find why tax cuts in and of themselves have never led to economic growth. In the past, the rich may have reinvested about a third of their tax savings in the US, but now, most of it goes into savings, personal spending, or overseas investments.

A new study by the nonpartisan Congressional Research Service has found that over the past 65 years, tax cuts for the rich have not led to economic growth and instead are linked to greater income inequality in the United States. | Bonnie Kavoussi, Huffington Post

From The Huffington Post

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Big Pharma spends 19 times more on advertising than it does on research.

With the exception of investment bankers and defense contractors, those who rule over the American pharmaceutical oligopoly are some of the most powerful corporatists in America. Have you ever wondered why we pay twice as much for drugs as citizens in other countries?

A recent study from BMJ shows that for every $1 dollar spent on research alone, Big Pharma spends $19 on marketing and advertising for brand-name drugs, not to mention the enormous sums paid to keep generic drugs off the market. Your thoughts?

From The Huffington Post

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‘Job creators’ potentially hiding up to $32 TRILLION in offshore tax havens.

If you still have any doubts as to why trickle-down economics simply does not work, take a look at this report released by the UK-based Tax Justice Network.

When ‘job creators’ hide up to $32 TRILLION in offshore tax havens, how can we expect any of this wealth to help rebuild global economy?

From The Huffington Post

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Outdated online sales tax exemptions hurting brick and mortar companies.

Online sales tax was initially waived to help jumpstart Internet commerce, not kill brick and mortar companies.

Isn’t it about time we level the playing field?

From Politico

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Banking industries are not exempt from Rule of Law or our system of justice

Over the past two decades, global financial institutions have earned the moniker: ‘criminal enterprises’. Daily, we read about this sector’s self-dealing, theft, fraud, money-laundering and covert manipulation of rules designed to protect the world economies.

Despite its power, this industry is not exempt from the Rule of Law and our system of justice. It is time to demand that our elected officials choose sides. Are they loyal to the Republic and its people or to the banksters who have chosen short-term profits over America’s economic and political stability/survival?

From The Huffington Post

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For-profit prison industry, an example of how profit motive leads to perverse business incentives.

While privatizing certain state/local government functions can be beneficial, the for-profit prison industry has become a prime example of how the profit motive leads to perverse business incentives. Administrators are pressured to hire fewer, less-experienced guards, cut food/health care, inflate costs, and ignore physical and sexual abuse among prisoners.

Now, Virginia is contracting out a facility for indefinitely sentenced sex offenders. Guaranteed occupancy for those cells?

From The Huffington Post

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Last week’s jobs report brings up an issue worth reiterating.

In light of last week’s jobs report, it’s worth repeating that the U.S. took a great misstep in its response to the financial crisis by not using stimulus money to reinvest in America. Handouts to big business are not the same as rebuilding the American economy.

Public investments in our schools, transportation infrastructure, energy grid, and advanced technologies would create a platform for entrepreneurs and domestic businesses to grow and prosper and so much more. These are measures that will produce huge returns for all Americans. Have we become so enthralled by political dramas that we’re ignoring what’s really at stake?

From The Huffington Post

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