Republicans want to protect tax havens for billionaires. They don't want the Foreign Account Tax Compliance Act to go into effect later this year. The FATCA is an agreement with banking officials in Switzerland, the U.S., and the Cayman Islands aimed at fighting international tax evasion.
Economic inequality is a major threat to human progress. According to a new report from Oxfam, 85 people control the same amount of wealth as half the population of the entire world, and the top one percent has 65 times the wealth of the bottom half. This concentration of money gives a few people way too much power over our economic and political systems.
Congress can't find the willpower to raise taxes on the rich, but that hasn't stopped them from chipping away at our retirement and slashing our social safety net. For decades, we've seen billions cut from vital programs like food stamps, unemployment insurance, and cost-of-living adjustments for Social Security – but closing corporate tax loopholes or making Wall Street pay more to gamble is simply off the table.
The richest 400 people in our nation have as much wealth as the entire African-American population in the United States. According to a new analysis by Bob Lord of the Institute for Policy Studies, the so-called “Forbes 400” has as much wealth as 41 million people. Mr. Lord called this stunning statistic, “Dr.
On the 53rd anniversary of President Eisenhower's warning about the military-industrial complex, President Obama spoke in defense of massive government spying programs. During the much-anticipated speech, the President claimed that he will reign in our government's wide net of surveillance, and give the public “more confidence” in the National Security Agency's spying programs.
We already knew that the Trans Pacific Partnership is a threat to our jobs, our civil rights, and our national sovereignty, and now we know it's also a danger to our environment. On Wednesday, Wikileaks published a leaked version of the environmental chapter of the TPP, and it's just another example of putting corporate power ahead of public interest.
On the one-year anniversary of the death of internet-activist Aaron Swartz, three judges in D.C. killed the internet. The D.C. Circuit Court of Appeals struck down the FCC's net neutrality rule, and opened the door to corporate control of the information we can access online.
On Monday, Senate Majority Leader Harry Reid had to delay a crucial vote on unemployment benefits so that Republican lawmakers could finalize their list of demands. Although Democrats want to extend long-term unemployment benefits for 11 months with no strings attached, Conservative senators only want a three month extension, and they want the cost of the program off-set with more austerity measures.
More than 300,000 West Virginia residents are facing their fifth day of coping with a massive chemical spill, and FEMA is helping state and local agencies ensure that residents have access to safe drinking water. That means tax payers are already covering the cost of the spill, and they could be on the hook for clean up expenses as well.
While the media was focused on Chris Christie and “Bridge-gate”, Congress moved closer to accepting a massive, international trade agreement. On Thursday, a bipartisan group of U.S. Senators proposed legislation to give the Obama Administration the power to fast-track the Trans Pacific Partnership and other controversial trade deals.