Entries by tag: currency
http://www.washingtonpost.com/business/economy/asian-investors-anxiously-monitor-us-debt-talks/2011/07/31/gIQAAyq9lI_story.html?wpisrc=al_economy
I guess they're happy that we can keep steering their freight train toward that cliff. Obama is the pragmatic fall guy, demonized by most. He calmly goes about the business of finding something productive that we can agree on. He is willing to disagree with his own party, which is refreshing and hopeful. His positions make sense to me. I have long been disappointed that he could not take on big business more directly. I know he wants to, the socialist pig. Just now though with today's agreement we see that the guys with the corporate jets have as much control over the law as everyone who is afraid to see medicare cut.
I guess they're happy that we can keep steering their freight train toward that cliff. Obama is the pragmatic fall guy, demonized by most. He calmly goes about the business of finding something productive that we can agree on. He is willing to disagree with his own party, which is refreshing and hopeful. His positions make sense to me. I have long been disappointed that he could not take on big business more directly. I know he wants to, the socialist pig. Just now though with today's agreement we see that the guys with the corporate jets have as much control over the law as everyone who is afraid to see medicare cut.
In order:
1) EXXON Mobil: 2009 $19 billion in profits, paid no taxes and got a $156 million IRS rebate according to SEC
2) BANK of AMERICA: 2010 $4.4 billion in profits, nearly $1 trillion bailout, and $1.9 billion tax refund
3) GE: $26 billion in US profits past 5 years, $4.1 billion tax refund (friends work there)
4) CHEVRON: 2009 $10 billion profits, $19 million tax refund
5) BOEING: $30 billion Pentagon contract, $124 million tax refund in 2010 (plant in my hometown)
6) VALERO Energy: 2010 $68 billion in sales, $157 million tax refund, and $134 million tax break from the oil and gas manufacturing tax deduction (25th largest co in US)
7) GOLDMAN SACHS: 2008 profit $2.3 billion, $800 billion bailout, paid 1.1% of its income in taxes
8) CITIGROUP: 2010 over $4 billion in profits, $2.5 trillion bailout, paid no federal income taxes (worst credit cards I ever had, except maybe for AmEx)
9) CONOCOPHILIPS: 2007-09 made $16 billion in profits, received $451 million in tax breaks (oil & gas deduct) (#5 oil co in US)
10) CARNIVAL Cruise Lines: 2005-10 made $11 billion in profits, fed income tax rate 1.1%
Sanders suggests:
--closing corporate tax loopholes
--eliminating tax breaks for oil and gas companies
--introduced legislation to impose a 5.4% surtax on millionaires-->$50 billion a year
--spending cuts must be paired with new revenue
SOURCE
compiled by Senator Bernie Sanders
http://carloz.newsvine.com/_news/2011/03/27/6355442-tax-time-not-for-giant-corporations-the-top-ten-tax-avoiders-who-refuse-to-pay-up-and-share-the-sacrifice
Hat tip: BuzzFlash.com
1) EXXON Mobil: 2009 $19 billion in profits, paid no taxes and got a $156 million IRS rebate according to SEC
2) BANK of AMERICA: 2010 $4.4 billion in profits, nearly $1 trillion bailout, and $1.9 billion tax refund
3) GE: $26 billion in US profits past 5 years, $4.1 billion tax refund (friends work there)
4) CHEVRON: 2009 $10 billion profits, $19 million tax refund
5) BOEING: $30 billion Pentagon contract, $124 million tax refund in 2010 (plant in my hometown)
6) VALERO Energy: 2010 $68 billion in sales, $157 million tax refund, and $134 million tax break from the oil and gas manufacturing tax deduction (25th largest co in US)
7) GOLDMAN SACHS: 2008 profit $2.3 billion, $800 billion bailout, paid 1.1% of its income in taxes
8) CITIGROUP: 2010 over $4 billion in profits, $2.5 trillion bailout, paid no federal income taxes (worst credit cards I ever had, except maybe for AmEx)
9) CONOCOPHILIPS: 2007-09 made $16 billion in profits, received $451 million in tax breaks (oil & gas deduct) (#5 oil co in US)
10) CARNIVAL Cruise Lines: 2005-10 made $11 billion in profits, fed income tax rate 1.1%
Sanders suggests:
--closing corporate tax loopholes
--eliminating tax breaks for oil and gas companies
--introduced legislation to impose a 5.4% surtax on millionaires-->$50 billion a year
--spending cuts must be paired with new revenue
SOURCE
compiled by Senator Bernie Sanders
http://carloz.newsvine.com/_news/2011/03/27/6355442-tax-time-not-for-giant-corporations-the-top-ten-tax-avoiders-who-refuse-to-pay-up-and-share-the-sacrifice
Hat tip: BuzzFlash.com
Talking, as usual, about the economy and specifically about the debt ceiling and philosophies of government. Ron Paul makes the point that if we do not make a radical change in the way that we finance our bad habits, the dollar is going to collapse.
This video is over 2 hours long and starts with a bunch of sound effects and histrionics--but soon does settle down into some more rational reporting on what is happening in the world, and in America. I'm sorry to say that much as I adore Obama on some levels, he is failing us. His policies in finance are no different from those of Shrub, and we are headed just as quickly in the same direction--toward world dictatorship by the corporations, for the corporations. It may not seem to matter much, and during this generation indeed it does not, since we are still fat and comfortable. Future generations will wonder why we did not stop it. Perhaps it is already too late. I don't know. I just watch in horror.
Nice, simple explanation here of what has happened with the federal reserve, banks, and the bailout. Spitzer gets it. This is why I still give Obama an F on the economy.
Finally something productive and useful that citizens can get behind and force congress to do: look at the books, get serious about our financial system. Our congress must take stock of the Fed before the dollar fails, before some other currency replaces it in the world. And that's what this bill does. The explicit purpose of the bill is to amend the law regarding the way the Federal Reserve is audited by the Comptroller General, and the way in which such audits are reported. Ron Paul's idea in crafting this bill is to get the financial information out in the open, so we can decide what to do next.
So far fifty five members of congress have signed as co-sponsors of this bill. THIS ALONE IS AMAZING. This means that Congess is beginning to see that Ron Paul was RIGHT about all this that is happening. Our congress wants to consider these questions a little more deeply now. This bill won't solve our problems. It will give us the information we need to choose a strategy for the cleanup and renovation of our financial structure. A companion bill has been introduced in the Senate.
http://www.govtrack.us/congress/bill.xpd?bill=h111-1207
So far fifty five members of congress have signed as co-sponsors of this bill. THIS ALONE IS AMAZING. This means that Congess is beginning to see that Ron Paul was RIGHT about all this that is happening. Our congress wants to consider these questions a little more deeply now. This bill won't solve our problems. It will give us the information we need to choose a strategy for the cleanup and renovation of our financial structure. A companion bill has been introduced in the Senate.
http://www.govtrack.us/congress/bill.xpd?bill=h111-1207
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