News Release Category: Economy and Business
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Facebook Collaboration with Israeli Military “Beyond Outrageous”
“Facebook executives’ decision at this moment to directly collaborate with Israeli Defense and Justice Minister Gantz on content moderation, without appropriate parity of government engagement until prompted by civil society, is beyond outrageous. … “In addition, the numerous reports of removal or chilling of political speech that several of our organizations have received over the…
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Could Postal Banking Address “Inequality in the Financial System”?
Eight million households in the United States lack bank accounts because the existing system of privately owned banks doesn’t offer accessible and affordable financial services. But the U.S. Postal Service can serve as a solution. A growing political movement highlights how the Postal Service could offer a public option for banking, making essential financial services…
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U.S. Military Spending Still Dwarfs China, Russia, Iran…
“The United States, every year, takes $2,170 from every man, woman, and child for wars and war preparations, while Russia takes $439, China $189, and Iran $114.”
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Why Does IRS Target Working Poor More than Billionaires?
“Taxes have become almost optional for the super-rich. President Biden’s plan is a welcome first step in reversing wealth hidding and tax avoidance by billionaires and multi-millionaires. You are four-times more likely to get audited if you use the Earned Income Credit – a tax break for working families – than if you’re a billionaire…
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Did Amazon Shred the Law to Stop Worker Unionization?
“Amazon faces dozens of federal allegations from its facilities across the country for firing workers who organized protests and walk-outs demanding the company improve its COVID-19 safety best practices. Amazon employees at multiple facilities report fear of being open about their support for a union at work because they might be fired or harassed.”
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Wall St. Pumped Record $2.9 Billion to Washington Politicians, At Least
“In this election cycle, individuals and entities associated with the financial sector reported making $4,971,464 in contributions to the eight Republican Senators and $38,512,126 to the 139 House members who voted to overturn the election (as reported by February 17, 2021), for a total of $43,483,590.”
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Amazon Union Vote
“Within 24 hours of the defeat of the union at Amazon appearing likely, non-union workers at Amazon went on a wildcat strike in Chicago. So while it may appear that workers at Amazon were defeated, they are still on the march as the strike in Chicago shows.”
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Will Infrastructure Investment be Syphoned by Hedge Funds?
“Putting infrastructure plans in place requires the government to partner with companies that have the deep know-how and the substantial resources to develop these complicated and cutting-edge technologies,” writes Parramore. “The problem is,” these hedge fund “activists” usually “aren’t interested in companies being the best at what they do, or doing anything, really, except handing…
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Zoom Pays $0 in Federal Income Taxes on Pandemic Profits
“The company reports that it made $660 million of pre-tax profits for 2020, an exponential increase from its $16 million in pre-tax profits in 2019. The immediate shift to online activity explains the company’s unprecedented income growth. For many, Zoom has become a ubiquitous daily meeting space, both for work, class instruction, family gatherings and…
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Momentum Builds for Financial Transaction Tax in NY on Tuesday
“For over 100 years, New York State law has provided for a stock transfer tax that essentially collects a tax on all stock transactions. For many years, after heavy lobbying by stock traders, tax money was actually collected — then immediately rebated to the firms that sold the stocks. In other words, it has been…