Working Life

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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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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I detect a president who thinks he’s found a very potent political argument. Having gone soft on the bankers, letting all the big fish skate after wrecking the economy, the president has figured out that people just won’t stand for a tax system that leaves regular people holding the tab while CEOs figure out how to screw the public, day after day. And, so, he’s now personally calling for an end to so-called tax “inversions”

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The corporate thieves running U.S.-based corporations are just counting the days until Carl Levin heads off to retirement at the end of this term. It was Levin, you may recall, who looked at Goldman Sachs and saw “a financial snake pit rife with greed, conflicts of interest, and wrongdoing”. And he isn’t letting go: he’s now moving to try to close a loophole that will put billions of dollars in taxable corporate profits into offshore accounts, a scam that robs the people of revenue.

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Hey, no big deal — you run a company rife with conflicts of interest, you help crater the economy, costing millions of jobs and trillions of dollars in wealth…and you keep racking up more and more money. Life is good for Lloyd Blankfein.

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You don’t have to look further than the utterly pathetic game of repeated “stay-out-of-jail” cards handed the global banker elite to understand why people are pissed—whether in the U.S., Greece or pick a country. Time after time, the guys who cratered the economy, and robbed people of their jobs and wealth, are given a pass […]

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   It would be an interesting exercise to add up all the dollars spent by the Justice Department prosecuting Roger Clemens and John Edwards–it’s got to be in eight figures easily–compared to the ZERO spent prosecuting Goldman Sachs CEO Lloyd Blankfein, or for that matter, a whole host of his co-horts.    I mention Blankfein, […]

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Gupta. Rajaratnam. Blaring headlines are a potentially dangerous distraction from the truth: the bankers responsible for the economic catastrophe that wiped out millions of jobs and trillions of dollars in wealth are still free and clear, reaping tens of millions of dollars more and laughing all the way to next purchase of a yacht or […]

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That CEOs of American-based, flagless corporations will say, or do, anything to make a buck–and line their own pockets–is not a surprising notion. That our political leadership keeps buying the nonsense spewed out by the Chamber of Commerce and the other megaphones of corporate greed is a tragedy–an obvious result of the corrupt campaign finance […]

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   You hear that great sucking sound? It’s the hundreds of billions of corporate dollars that flood to off-shore tax havens. Time to turn off the spigot… There is some movement here: Saying that offshore tax havens deprive the United States Treasury of tens of billions of dollars of revenue a year, two senior Democratic […]

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