Economy

You Pay Taxes. Why Shouldn’t Prison Profiteers?

You Pay Taxes. Why Shouldn’t Prison Profiteers?
The Corrections Corporation of America makes money by incarcerating people and gets practically all its money from taxpayers. Now they want to do that and not even pay their taxes. They've already done the paperwork and reorganization necessary to allow them to make this change. Now they’re just waiting for approval from the IRS before they move forward.
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Rescued by the Government, AIG Considers Suing Its Savior

Rescued by the Government, AIG Considers Suing Its Savior
Could this potential lawsuit be an attempt to recover the profits made by the government for saving the company? Or is this the classic case of privatized profits and socialized losses? It really does not matter. That the titans of finance will meet their undoing if they continue to live in an alternate state of reality.
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Debt Ceiling Solution: A $1 Trillion Coin?

Debt Ceiling Solution: A $1 Trillion Coin?
With Republicans increasingly holding the debt ceiling hostage in an attempt to secure budget cuts, the idea of a statuary debt limit seems foolish and potentially destructive. However, one potential solution seems even more absurd - minting a $1 trillion coin.
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World Bank’s IFC Arm Responds to Our Critique of Its Poverty Fighting

World Bank’s IFC Arm Responds to Our Critique of Its Poverty Fighting
Response from World Bank for ProPublica's article, "Can You Fight Poverty With a Five-Star Hotel?," which raises an important question about the International Finance Corporation's (IFC) impact fighting poverty in developing countries. ProPublica's response to this letter is also included.
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Christmas Cash: December Spending Highest in Four Years

Christmas Cash: December Spending Highest in Four Years
The increase in Americans' reported spending is clearly a positive sign for the U.S. economy. Whether the trend toward greater spending continues in 2013 is unclear. If January 2013 looks strong compared with prior Januaries, it is a sign that the economic momentum is continuing. If it is weaker, it could be a sign that Americans' more generous spending ways may be ending.
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Reaganomics Coming to a State Near You

Conservative state lawmakers across the country have been pushing fiscal agendas that slash income tax rates, sometimes paying for them by scaling back popular tax breaks. The controversial logic: that high tax rates discourage entrepreneurs from investing and growing the economy, ultimately depressing tax revenues while also convincing people to move from higher-taxing states to lower-taxing ones.
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Rachel Maddow: Republicans Finally Discover Tax Cuts Cost Money

For more than 10 years, Republicans have argued that tax cuts pay for themselves by growing the economy and increasing tax reciepts. Now, MSNBC's Rachel Maddow shows that Republicans are suddenly realizing that tax cuts are actually expensive, and the math behind the Bush Tax Cuts was fiscally irresponsible.
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Marriage Equality Expected to Change the Economic Landscape in WA

In the first year after same-sex marriage passed in New York State, New York City reaped $259 million of economic benefits directly related to the new wedding economy.
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Grover Norquist: Fiscal Cliff Deal Would Lower Taxes, Not Raise Them

Anti-tax lobbyist Grover Norquist expressed confidence on CNN on Monday that any last-minute deal to avert the fiscal cliff would not cause tax rates to increase, even for wealthy Americans.
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Religious Leaders Encourage Poverty Protections for Unemployed Americans

The Jewish Council for Public Affairs and the Interfaith Disability Advocacy Coalition gathered on Capitol Hill Thursday to speak out in support of the Social Security Disability Insurance benefits program. The two groups gathered to dispel myths about the program being widely abused and wasteful and pushed to ensure that SSDI would not fall victim to "fiscal cliff" negotiations.
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