Saturday, August 18, 2012

What does One TRILLION Dollars look like? 

This is a MINDBLOWING graphical representation of the shear phisical size of One Trillion Dollars. To say this really makes you think is an understatement! 

All this talk about "stimulus packages" and "bailouts"...
A billion dollars...
A hundred billion dollars...
Eight hundred billion dollars...
One TRILLION dollars...

Friday, February 10, 2012

Saturday, March 26, 2011

GE, World's Largest Corporation Paid Zero $$$ U.S. Taxes in 2010

You know how we've been covering the efforts of U.S. Uncut, the growing campaign to stop corporate tax dodgers from exploiting overseas tax havens? 

Well here's an excellent example of why such efforts are desperately needed, from the front page of the New York Times:

General Electric, the nation’s largest corporation, had a very good year in 2010.

The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States.

Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion.
How can that be, you ask?

Tuesday, February 1, 2011

Web-Free ‘Tweeting’ Brought To Egypt By Google

SAN FRANCISCO - GOOGLE, in response to the Internet blockade in Egypt, said on Monday that it had created a way to post messages to microblogging service Twitter by making telephone calls.

Google worked with Twitter and freshly acquired SayNow, a startup specialising in social online voice platforms, to make it possible for anyone to 'tweet' by leaving a message at any of three telephone numbers.

'Like many people we've been glued to the news unfolding in Egypt and thinking of what we could do to help people on the ground,' Google product manager Abdel-Karim Mardini and SayNow co-founder Ujjwal Singh said in a blog post.

'Over the weekend we came up with the idea of a speak-to-tweet service - the ability for anyone to tweet using just a voice connection,' they said.

Voice mail messages left at +16504194196; +390662207294 or +97316199855 will instantly be converted into text messages, referred to as tweets, and posted at Twitter with an identifying 'hashtag' of #egypt. Twitter hashtags are intended as search terms so people can more easily find comments related to particular topics or events. People can call the same numbers to listen to messages or hear them online at -- AFP

Click here for the Original Post >>

Saturday, January 22, 2011

Why Do People Who Work in Finance Earn So Much More Than the Rest of Us?

More than 70 percent of Americans say big bonuses should be banned this year at Wall Street firms that took taxpayer bailouts, a Bloomberg National Poll shows. An additional one in six favors slapping a 50 percent tax on bonuses exceeding $400,000. Just 7 percent of U.S. adults say bonuses are an appropriate incentive reflecting Wall Street's return to financial health. A large majority also want to tax Wall Street profits to reduce the federal budget deficit. A levy on financial services firms is the top choice among more than a dozen deficit-cutting options presented to respondents. -- Bloomberg
As bonus season arrives, the gap between the American people and Wall Street couldn't be wider. And where is Washington in this great divide? Don't ask.

At a moment when Americans desperately want jobs on Main Street and expect Wall Street to pay its fair share, Washington officials are hard at work -- seeking jobs for themselves on Wall Street. (Congratulations, Peter Orszag, on parlaying your position as Obama's OMB director into a top job at CitiGroup, the bank that received hundreds of billions in taxpayer bailouts and guarantees on your watch!)

Most Americans rightly sense that our mixed free-enterprise economy, which once built a broad middle class, has devolved into a system of financial socialism by and for elites. The public wants and deserves answers to these basic questions:

Monday, January 17, 2011

Saturday, January 8, 2011

The Rich Can Already Call It a Year

Well, 2011, it’s been nice. But I think we’ve worked enough already. In any case, we’ve already made enough money. Time to call it a year.

This is a ridiculous idea, right? Yet, as the Canadian Financial Post reported at the beginning of the week, “Top CEOs will have earned average workers’ full annual pay by 2:30 p.m. today.” The “today” in question was Monday, January 3, the first business day of the year. Here’s their explanation:

Canada’s best-paid chief executives earned 155 times the average income earner during the darkest days of the recession, the Canadian Centre for Policy Alternatives said in a report Monday.

Declaring that those 100 chief executives were “recession proof,” the think tank said they earned an average of $6.6 million in 2009 compared with $42,988 for the average Canadian.

That means by 2:30 p.m. Monday, the first working day of the year, those CEOs will have earned the full year’s wage of the average Canadian, said Hugh Mackenzie, the author’s study and research associate for the center.