The Federal Reserve Bank of New York’s recent data on college graduates has been a gift that keeps on giving. The plethora of information has provided great insight into the millennial generation’s current economic predicament. In their most recent report, Jaison Abel and Richard Dietz of the New York Fed found that only 27 percent [...]
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On Tuesday, a “sinkhole” suddenly sank in Washington D.C. three blocks from the White House. Not a metaphor, but a massive hole in the road as “long as a Ford Explorer,” double the width of a train car and 17 feet deep. The asphalt eroded around a metal plate covering potholes in the street and [...]
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As I noted in my previous post, even before the winds died down in his home state, Oklahoma Republican Sen. Tom Coburn insisted that additional disaster relief approved by Congress must be “paid for” by cuts elsewhere in the federal budget. Coburn even defended his insistence on further slashing the federal budget to pay for [...]
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Did you know that Apple Computer has become a foreign entity? Did you know that it’s more Irish than anything else, at least as far as taxes are concerned? Or that it pays very little in income tax, even though its products wouldn’t exist if it not for U.S. taxes? Apple products were designed in [...]
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At yesterday’s Senate hearing the CEO of Apple said they follow the law when they “defer” billions and billions of dollars in taxes they owe by keeping profits “out of the country.” He’s talking about the “Subpart F” corporate tax loophole that practically forces companies to move jobs and factories and profit centers out of [...]
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Change is coming to the most important government agency that most Americans never heard of. For many months, a broad coalition of housing, consumer protection, and civil rights groups has been calling on President Obama to replace the acting head of the Federal Housing Finance Agency or FHFA, the body that oversees the mortgage giants [...]
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For over a week, Republicans have refused to focus on anything but so-called scandal. And, it turns out, that's exactly the way they want it. On Thursday, the Heritage Foundation, a prominent conservative think tank, sent a letter to GOP leaders, and told them to avoid working on any legislation that could take the focus off of the Obama Administration.
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Remember the video of the guy in the “pimp costume” who got advice from ACORN employees on how to run his prostitution ring? Turns out the whole story was just a lie, a doctored-video smear job on an important organization. The guy never wore a “pimp costume” and the real, undoctored videos showed that ACORN [...]
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Did you know that Washington, DC is the 9th most expensive American city to live in? Did you also know that thousands of private sector workers whose jobs are supported by taxpayer dollars don’t earn enough to live in the city where they work? Tomorrow, those workers are rallying for livable wages, in America’s 9th [...]
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Apple (like many giant, multinational corporations) has been avoiding paying the taxes they owe to the country by setting up foreign “subsidiaries” in tax-haven countries, and moving jobs and profit centers out of the country. They have accumulated billions upon billions of dollars in these tax havens. Now they want a special tax break to [...]
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