Business

Congress Too Lazy to Write Bill, Copies Citigroup's Instead

Congress Too Lazy to Write Bill, Copies Citigroup's Instead
When five mega-companies control 90-percent of a $700 trillion market, it's safe to say that they can afford some pretty good lobbyists in Washington. According to a report from Mother Jones released on Friday, however, Citigroup's influence on Capitol Hill is so strong that the House financial services committee passed legislation that was practically plagiarized from a proposal drafted by the bank's lobbyists.
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Brandon Perkins
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Verizon (and Google) Helped U.S. Government to Spy on Reporters

Verizon (and Google) Helped U.S. Government to Spy on Reporters
Technology companies willingly provided information to U.S. government agencies to help the Obama administration snoop on reporters from the Associated Press (AP) and Fox news in order to ostensibly crack down on leaks that pose a “threat” to national security.
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From Label to Table: USDA's Enhanced Meat Packaging Info Goes Into Effect Against Beef and Grocery Lobby Wishes

From Label to Table: USDA's Enhanced Meat Packaging Info Goes Into Effect Against Beef and Grocery Lobby Wishes
Shoppers in the U.S. will soon have more information about where their meat comes from after new federal labeling rules went into effect Thursday. "Consumers want and have the right to know where their food comes from," the National Farmers Union says.
origin Author: 
M.L. Johnson
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Undertaxed Apple Looks for More Tax Savings

Undertaxed Apple Looks for More Tax Savings
Apple has avoided billions and billions of dollars in taxes they owe to the country by setting up foreign subsidiaries in tax-haven countries, all while moving jobs and profit centers out of the country. Now they want a special tax break to reward them for doing that.
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Will Bankers at JPMorgan Chase Finally Pay for Their Misdeeds?

Will Bankers at JPMorgan Chase Finally Pay for Their Misdeeds?
Will California Attorney General Kamala Harris hang tough in her new lawsuit against JPMorgan Chase, the first to target individual bankers accused of defrauding the public? If so, it would be the first time in five years that executives at a major bank have personally paid a price for their wrongdoings.
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Abercrombie Would Rather Burn Clothes Than Give Them to Poor People

Abercrombie Would Rather Burn Clothes Than Give Them to Poor People
Fed up with Abercrombie & Fitch's douchey elitist policies - no clothes for the chubby or otherwise unbeautiful people, thanks - an L.A. filmmaker has begun a campaign to rebrand A&F clothes by giving them away to the people he knows A&F doesn't want wearing them - the homeless.
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Cambodian Shoe Factory Collapse Kills 2, Injures 7

Cambodian Shoe Factory Collapse Kills 2, Injures 7
The ceiling of a Cambodian factory that makes Asics sneakers collapsed on workers early Thursday, killing two people and injuring seven, in the latest accident spotlighting the often lethal safety conditions faced by those toiling in the global garment industry.
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What Does It Mean to Be An 'American' Corporation?

What Does It Mean to Be An 'American' Corporation?
The hiring by American companies is not happening in the U.S. At the same time these companies are holding $1.7 trillion of profits outside of the country, away from their own shareholders and our economy to avoid their taxes, while pushing to dramatically lower the taxes they pay us.
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How Does Apple Get Away With Paying a 1.9 Percent Tax Rate on Overseas Profits?

How Does Apple Get Away With Paying a 1.9 Percent Tax Rate on Overseas Profits?
In 2012, the computer electronics maker Apple shifted many of its profits overseas, parking $36 billion globally. Yet at the same time, it only paid a 1.9 percent tax rate on these profits. Obviously, this egregious tax dodging has a negative impact on the average taxpayer in the U.S.
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Republicans and Dems Come Together — to Keep IRS From Competing with TurboTax

Republicans and Dems Come Together — to Keep IRS From Competing with TurboTax
A House bill introduced earlier this year would bar the IRS from offering taxpayers software that would compete with programs like TurboTax. In March, Grover Norquist and others wrote a letter to members of Congress that urged them to support the bill — what they called a “pro-taxpayer, anti-IRS power grab legislation.”
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