Big U.S. corporations shift profits to foreign tax havens to cut their US taxes to zero. US loses about $100 billion annually from corporate tax games by Apple, Google, Coke, Nike, Caterpillar, others while.Billionaires enjoy a boom – $1 trillion in new wealth in 2020. Biden calls for corporate minimum tax to restore fairness, fight inequality..
Washington – Behind the hollow sparring over the border wall and government shutdowns, the ground is shifting under President Trump and the political pendulum is swinging toward a new economic agenda. Even conservative Fox News reports that American voters, by a huge margin, now want to reverse the Trump tax cut of 2017 and increase […]
Over the last three decades, we’ve lost something precious and essential in the American concept of capitalism – the idea that shared prosperity is good business and smart economics because it generates long-term economic growth and competitiveness for the nation as a whole. High economic inequality is a drag on economic growth, economic studies show. […]
Washington – With Republicans surfacing more details of their tax-cut package and debate sharpening over its likely impact, Trump’s top economist forecasts a boost of $4,000 in annual income for the typical American family but most economists don’t buy that estimate and Senate Democratic Leader Chuck Schumer derides it as “fake math.” In fact, one […]
Washington – Riding a tide of tax cuts and rising profits over four decades, the captains of Corporate America have shifted $1 trillion each year from the paychecks of middle class Americans into massive payoffs to Wall Street investors and CEO pay packages. And now they want you to believe, once again, that cutting corporate […]
Washington – For Candidate Donald Trump, one sure-fire way to ignite his political base in 2016 was to savage Wall Street for stealing the American Dream from the working middle class and to accuse Hillary Clinton of rigging the system for her friends at Goldman Sachs and other Wall Street banks. “She is their puppet […]
Olga, WA – If Donald Trump can get over his nonsense about President Obama being the “Founder” of ISIS and his hassling Gold Star families and fellow Republicans, Campaign 2016 can get to America’s core issue – economic inequality and the rival pitches of Clinton and Trump of a better deal for the middle class. […]
Washington – Economists call it “the Virtuous Circle of Growth.” It’s the dead opposite of “trickle down economics.” The core idea is that a well-paid middle class is the engine of America’s economic growth. In other words, America’s job creators are the 99%, not the 1%. That was the economic concept that powered America’s remarkable […]
Washington – Given Donald Trump’s gutter politics – his foul mouth, his racist bigotry, his dark nativism, you have to ask yourself, “How does he keep winning?” and “Why does he so alarm the Republican Establishment?” And the answer lies not so much in personality politics, but in something more explosive: Trump’s heresy against orthodox […]
Washington – If you want to see what fires the grass roots passion for Donald Trump and Bernie Sanders and the populist rebellion against the U.S corporate and political elite, take a look at the latest case of an American corporation’s gaming the system for handouts and bailouts and then walking out on Uncle Sam and […]
Hedrick Smith, who conceived this website and is its principal writer and architect, is a Pulitzer Prize-winning former New York Times reporter and Emmy award-winning documentary producer for PBS and PBS FRONTLINE. more »
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