By now all have heard of the whistle blower exposing the NSA capturing all sorts of communications traffic. The latest is the United States and Great Britain didn't stop there, they have been spying at the G-20 meeting, filled with the highest echelons of economic and financial officials.
Welcome to our round up of economic shorts. These are the latest outrages that caught our eye which you might have missed. Probably the biggest disaster happening today is the Senate pushing forward with a corporate written cheap labor immigration bill regardless of the negative impact this will have on jobs and the economy.
Retirement is something most of us don't like to think about. It is not due to aging and fear of death. Instead, most of us are just scraping by, if that, and our retirement funds do not exist. Out of sight, out of mind is a way to deal with the deathly fear of having absolutely no money to take care of ourselves with in old age.
There is a war going on and it is against the U.S. worker. Tech companies have formed lobbyist groups, phony think tanks and social media traps. CEOs luncheon with the President of the United States, whispering their demands in the President's ear and he heartily obliges them Tech companies even wrote legislation, which was promptly passed by the Senate Judiciary committee under the guise of Comprehensive Immigration Reform.
Surprise, when tax revenues increase the deficit goes down. Such was the news of a new CBO update on the federal budget deficit.
If the current laws that govern federal taxes and spending do not change, the budget deficit will shrink this year to $642 billion, CBO estimates, the smallest shortfall since 2008.
Corporate culture, HR hound dogs who hunt the squeaky wheel, bullying, abuse and politics abound for working America today. For those who still have a job, America has turned into a survivor game. No longer are workers respected and treated as human beings. Even those most educated and skilled are treated like pond scum
Did you know rich students get financial help from colleges while the poor ones get laden with debt instead? Such is the conclusion of a new report, Demerit Aid, from the New America Foundation. While Pell grants tallied $35 billion in 2012, universities are reducing their own financial aid based on income and instead, shifting those funds to the wealthy students.
The rich get richer and the rest of us get the economic shaft. That is the theme of this so called economic recovery since 2009. A new Pew Research report, A Rise in Wealth for the Wealthy; Declines for the Lower 93%, analyzes newly released Census data on wealth. What they found is the rich got richer and the rest of us got poorer. The great American wealth transfer continues.
Once again our daily barrage of economic injustice news is overwhelming. From lobbyist lies to interest rate swap rigging to killing workers by the hundreds to our best and brightest working jobs flipping burgers, here are some quick economic news shorts that you don't want to miss.
The Great Corporate Tax Dodge is alive and well. A couple of new studies show corporate taxes as a percentage of total tax revenues are at a 60 year low and many corporations pay no tax at all. The GAO issued a new report which shows use of corporate tax breaks cost the U.S. government $181.4 billion in 2011 alone.
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