Burger King’s Whopper Isn’t Just Food–It’s A Mouthful Of Tax Dodging-And-Lies

Before I rip Burger King a new one, a moment of full disclosure: I haven’t walked into one of those joints in I dunno 25 years. So, maybe it’s worth the whatever it costs now to choke down and swallow that stuff. But, know this: every dollar you put into that place now is basically a contribution to yet another tax dodge–theft from the public’s right to have a decent society.

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Jobs & The Economy: It’s Worse Than You Think

Truthfully, this is not particularly a new idea. For a long time, I, and others, have been pointing out that the data about the economy and jobs does not reflect how bad it really is–and this was true way before the financial crisis. But, drumroll, a little academic cover joins the chorus.

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Mozilo Hasn’t Paid Yet

A problem that I’ve been writing about for several years is the grim reality that the top bankers and Wall Street guys, who were responsible for the financial crisis, have never been out in jail–and jailing these guys is the only way that there is a chance that the same thing won’t happen again. Which brings us to the story of Angelo Mozilo.

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It’s Not Hard To End Corporate Tax Dodging (Inversions): A Roadmap For Congress/White House

It isn’t complicated and it’s not rocket science. The thievery underway in the form of corporate tax inversions can be stopped if there was a will to do so. It’s a problem with three easy-to-describe pieces–and some pretty straightforward solutions. The issue is: does the White House, beyond an election-year messaging stunt, really want to stop the robbery of the American taxpayer?

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BREAKING: Bank of America Cuts $16 Billion “Keep Our Executives Out Of Jail” Deal

Well, this is just more of the same. Shareholders and customers pay the tab for greed and incompetence–and the Administration goes along. A new deal–but no one held responsible.

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Vultures Circling Argentina, Disconnect At The Fed

It might look these events are completely unrelated but there is a tie between the extortion underway of Argentina courtesy of a hedge fund, on the one hand, versus the cluelessness at the Federal Reserve Board about what is actually happening to real people.

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EXPOSED: Corp Taxes Are NOT High, U.S. Corps “world leaders in global tax avoidance strategies”

I couldn’t help the “EXPOSED” start to the headline because, actually, this is no surprise. Citizens for Tax Justice has been making this case for a very long time (including here, just as one example). But, here’s another piece of evidence to try to undo that hard-wired, decades-long rhetorical nonsense about corporate taxes being too high in the U.S.

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Opera Deal

There is a deal that prevents the NYC Opera from locking out its workers. Though hard to know right now what the deal is, there is still one mystery I’d still like to learn more details about.

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Just Call It What It Is: Slave Labor

You can try to call these conditions whatever you want. But, bottom line, this is for slaves.

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“Some will rob you with a six-gun, and some with a fountain pen”: A New Corporate Tax Scam

I love that quote from Woody Guthrie (H/T to Citizens for Tax Justice for using it). Says it all, from the halls of the Chamber of Commerce to the corporate suites to the Congress. Today’s use of the fountain pen comes courtesy of another corporate scam to avoid taxes.

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Holder’s New (Bargain) Price For Bankers’ “Stay-Out-Of Jail” Card: $17 Billion

Well, it gets a bit repetitive to write about this but it’s that or spacecrafts following comets(come to think of it, the comet stuff is much more fun). But, here we go again: bankers rip us off and all they need to do is sock it to the shareholders and customers and, presto, Eric Holder and his boss go home happy campers. The Treasury might get a little richer but nothing much will have changed.

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Inequality Hurts Economic Growth. Well, Duh. No Surprise, S&P Late To The Party

One response to this might be “better late than never”. Actually, the spin on this story neglects to actually talk about the role S&P actually played in the financial crisis. But, apparently, the geniuses at S&P have now figured out what any normal person would understand: when a few people get all the marbles, not much is left for the others.

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Corp Tax Evading And Fleeing The Country? Fine, Kiss Your Federal Dollars Good-Bye

Corporate tax inversions are getting a lot of ink now (thanks largely to the heavy lifting done by the Levin brothers–Carl in the Senate, Sander in the House, and Citizens for Tax Justice…not, respectfully, by the celebrity of the moment). The president has even spoken out a bit, though we will see whether that’s just mid-term elections political rhetoric. But, a related move is now on the agenda and I love the name: No Federal Contracts for Corporate Deserters Act.

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Some Sneakers Are Missing

…Or else maybe Nike’s off-shore shell game has changed. In any case, there’s something fishy in Bermuda.

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“A brazen fraud by the defendants”=$1.9 Billion Fine For Bank of America

One person who is a bit of a hero, I think, in this whole post-financial-crisis-the-bankers-got-away-with-it scam is Jed Rakoff, who sits in the Federal District Court of Manhattan. A few years ago, I wrote that Rakoff understood that the government, our government, and, in particular, the Securities and Exchange Commission, is not serious about holding people accountable for the robbery and greed and incompetence that led to the financial collapse, costing millions of people their jobs and obliterating trillions of dollars in wealth. As Rakoff said, it’s all a show. But, at least, when he can, Rakoff is trying to make it hurt–and, now, to the tune of a $1.9 billion fine against Bank of America.

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Short-Term Hype On The Economy

Yipee, it’s up, the economy is “rebounding”, smile, celebrate…uh, well, not so fast.

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