Big multinational companies that shelter overseas profit from federal taxation cost the U.S. economy more than $100 billion a year by withholding more than $1 trillion collectively, according to a new study that may inflame the debate over tax fairness.
This week, anti-poverty group Oxfam America published a report that analyzed the financial reports of the 50 largest publicly traded U.S. companies. The organization found that behemoths such as Apple, General Electric, Microsoft and Google engage in tax havens that costs the U.S. $111 billion annually. Apple was cited by Oxfam as one of the biggest corporate offenders, holding some $181 billion in money offshore, followed by GE’s $119 billion and Microsoft’s $108 billion.
The U.S’s effective corporate tax rate is 35 percent, but the study found that companies used a variety of tax strategies to cut that rate to just 26.5 percent—with only 5 of the 50 companies paying the full 35 percent.
Saturday, April 16th, 2016
Stephan: "The U.S. has now spent more on the reconstruction of Afghanistan than it spent on the Marshall Plan, which resuscitated Europe after World War II, according to a special inspector general." And the result: after decades of war Afghanistan is a failed state with almost no future prospects.
I read this report and thought: if ever one wanted two examples one a successful foreign policy the other a total and abject failure this is the example.
Like every empire before us there comes a time when the leading power just loses its way and its chops and squanders money and lives to no good effect for itself or anyone else. And this seems to be the state of the United States today.
Kabul, the capital of Afghanistan 15 years into America’s endless war
Credit: tripadvisor
The U.S. has now spent more on the reconstruction of Afghanistan than it spent on the Marshall Plan, which resuscitated Europe after World War II, according to a special inspector general. (emphasis added)
The Marshall Plan delivered $103 billion in today’s dollars to 16 European countries between 1948 and 1952. That has now been topped by congressional appropriations for reconstruction in Afghanistan, which so far have come to $109 billion in today’s dollars. The difference: The Marshall Plan helped Europe get back on its feet, while Afghanistan is a chaotic mess.
The Marshall Plan comparison is the most striking fact in a depressing, 259-page quarterly report (pdf) to Congress issued July 30 by John Sopko, the congressionally appointed special inspector general for Afghanistan reconstruction.
Afghan forces seem unprepared to take over when the Americans depart. According to one recent audit by Sopko’s office, a U.S. contractor was unable, “because […]
No Comments
Saturday, April 16th, 2016
Matea Gold and Anu Narayanswamy, - The Washington Post
Stephan: One of the good things to come out of this year's electoral process, at least I hope it produces a good result, is the awakening many have had as to how truly corrupt and rigged our democracy has become. Citizens United to my mind, at least since Dred Cott v. Sanford, is arguably the worst decision ever made by the Supreme Court -- although Bush v Gore is right up there. This report should outrage you. A nation of 317 million people is having the course of their lives determined by a self-selected committee of the uber-rich. The issue to me is not their positions, some are social progressives, many more Rightists, but that there are only a handful of them. This is what Neo-feudalism looks like. This is what the Founders or their families had come to North America to get away from.
![Accessibility for screenreader Home Page Politics Opinions Sports Local National World Business Tech Lifestyle Entertainment Crosswords Video Photography Washington Post Live Live Chats Real Estate Cars Jobs WP BrandConnect Classifieds Partners washingtonpost.com 1996-2016 The Washington Post Terms of Service Privacy Policy Submissions and Discussion Policy RSS Terms of Service Ad Choices Politics The new Gilded Age: Close to half of all super-PAC money comes from 50 donors Resize Text Print Article Comments 904 Book mark article Read later list Saved to Reading List New York holds its primaries on April 19. Stay caught up with the race. Play Video Republican candidates' popularity with the general public A new Washington Post-ABC News poll shows unpopularity with the public at-large for leading Republicans Trump and Cruz. 0 50 Trump 31% favorable 67% unfavorable Cruz 36 53 Kasich 39 39 Source: Washington Post-ABC News polls April 6-10 among 1,010 adults. Error margin +/- 3.5 percentage points The Washington Post 67 percent of Americans have an unfavorable opinion of Donald Trump Share on [...]
</p srcset=](http://www.schwartzreport.net/wp-content/uploads/2016/04/Tom-Steyer-300x158.jpg)
No Comments
Saturday, April 16th, 2016
PETER DOCKRILL, - Science alert
Stephan: This is very good news and a living example of the kind of thinking the world needs, and the kind of social policy wellness-based formulation that is required.
Tesla in Amsterdam
Electric vehicles – including self-driving cars – are clearly the future of personal transportation, but the question remains: when does the future begin, exactly?
If the Netherlands has its way, we now have an answer. There are moves within the country to ban all petrol and diesel vehicle sales by 2025, meaning only new electric cars would thereafter be approved on Dutch roads – although existing fossil-fuel-based vehicles could continue puttering around until their engines give out.
While it’s an extreme proposal, a majority of the lower house in the Dutch parliament supported the motion, meaning there’s a chance it could be passed into law. Under the plan, all emissions-based cars would be outlawed, at least in terms of new sales. That means fuel-efficient hybrids would also be banned, although
hydrogen fuel cell cars would be permitted.
It’s an ambitious plan, and it’s certainly not the first time the Netherlands has backed the environment with big ideas in terms of transport technology. The country is currently working […]
No Comments
