Rand Paul and Ron Paul — comparing apples and oranges? I don't think so, because, as usual, the apple doesn't seem to fall very far from the tree.
Ron Paul supported the elimination of all income tax and the IRS. While his son's tax plan isn't quite as radical, it's still disingenuous — because they're both selling snake oil to us.
While America still suffers with repressed wages, increasing poverty and a vanishing middle class, Wall Street and big Multinational Corporations are having a party. Bonuses increased 15% and are back to their pre-financial crisis excesses Corporations hording cash offshore increased 11.8% in 2013 to a whopping $1.95 trillion.
In order to detect and eradicate wasteful government spending, we first have to identify and define just exactly what we consider to be "wasteful". But it probably depends on who you ask, and who benefits the most.
The ultra-wealthy uses the tax code as a weapon in their class-war against the poor by paying less than their fair share of taxes, when in a progressive tax system, the most wealthy are supposed to pay a greater percentage of their incomes --- because they are more able to contribute more, which benefits the most.
Welcome to this week in economic outrage. Every day there are thousands of economic horror stories where one just shakes their head in disbelief at the incessant injustice. To combat the information overload, we give you a financial follies reader's digest and how those in power could care less about any of it.
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.
Tonight's Friday Night Video is a collection of news and interview clips that need to be seen to be believed. The first is a report from NBC Rock Center on how people are getting their identities stolen and then ripped off. If that wasn't bad enough, identity thieves are filing bogus tax returns and collecting the refunds
The Senate Subcommittee on Investigations held a hearing, Offshore Profit Shifting and the U.S. Tax Code. Did you know U.S. Multinational Corporations have more than $1.7 trillion in untaxed profits stashed as undistributed foreign earnings and keep at least 60% of their cash overseas? That these earnings have increased 400% in the last decade? That corporate tax as a percentage of total Federal revenues has dropped to only 8.9%?
Welcome to the weekly roundup of great articles, facts and figures. These are the weekly finds that made our eyes pop.
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