Walmart Has $76 Billion Stashed In “Magical” Tax Havens June 22, 2015
A “groundbreaking” report—”The Wal-Mart Web: How the World’s Biggest Corporation Secretly Uses Tax Havens to Dodge Taxes”— reveals an extensive, covert “network of 78 subsidiaries and branches in 15 overseas tax havens, which may be used to minimize foreign taxes where it has retail operations and to avoid U.S. tax on those foreign earnings.”
‘Unbalanced Recovery’: Wages Falling, Low-Paid Jobs Rising Across US
'These losses are part of an alarming trend toward greater inequality and a shrinking share of the economic pie going to workers'.
Mayor Duggan: ‘The Change In Detroit Is Real’
Detroit is going through the largest municipal bankruptcy in U.S. history, and Duggan's address came less than a week after Orr filed his plan to pay creditors while providing money for city services and improvements in the coming years.
Serious Blow Dealt To US Unions In The South
VW workers vote against unionization in Chattanooga, following fierce campaign from outside interests
Dems Hope To Force House Vote On Minimum Wage Hike
House Democratic leader Nancy Pelosi said her party will push a "discharge petition" when Congress returns from its recess on Feb. 24.
Should Middle Class Americans Really Be So Down?
Data suggests that despite high social spending, average Swedish and French people lag behind the US middle class in economic well being.
Tax-Free Internet Shopping In Jeopardy
Internet shoppers are moving closer to paying sales taxes for their online purchases. But the fight is far from over. The Senate voted 63-30 Thursday to advance a bill that would impose state and local sales taxes on purchases made over the Internet. An agreement among senators delayed the Senate’s final vote on passage until May 6, when senators return from a weeklong vacation. Opponents hope senators hear from angry constituents over the next week, but they acknowledged they have a steep
Closing Supermarket Leaves Free Food For Hungry — Police Deny Them The Food
On Tuesday, roughly 300 hungry people gathered at the Laney Supermarket in Augusta, Georgia, hoping to take some food the closing supermarket put out for the public to take as police were carrying out an eviction order for the supermarket. Instead of allowing poor citizens to enjoy the food or transporting it to a community pantry, Richmond county police ensured the food were thrown away as it was transported to a nearby landfill. The problem is indicative of a larger crisis of food insecurity
Cyprus: Another Fine Mess
Even by euro zone standards, the handling of Cyprus’ banking crisis has been a monumental mess. After a week of backtracking, blundering and last-minute brinkmanship, the deal stitched together between the Cypriot authorities and other euro zone governments in the small hours of Monday morning averted the imminent risk of a banking meltdown and ejection from the common currency union. “Cyprus was a breath away from economic collapse,” President Nicos Anastasiades told his people
Train Cars Derail In Minnesota, Spill Crude Oil
Thousands of gallons (liters) of oil leaked onto frozen ground after a train carrying crude from Canada derailed Wednesday in western Minnesota. The 94-car Canadian Pacific train was headed south near Parkers Prairie when it lost air pressure and went into an emergency braking mode, the county sheriff’s office said. Fourteen tankers derailed. Three either leaked or spilled oil. No one was hurt, and a spokesman for the state’s pollution control agency said crews were able to control