Monday, August 2, 2021
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For Virginia, Combined Reporting Is a Key Tool to Limit Corporate...

From the Commonwealth Institute: Combined Reporting: A Key Tool to Limit Corporate Tax Avoidance Next week, the Northam administration will give their annual presentation about the...

99.9 versus .1 – Krugman explains the top 1/1000th

His column is titled We are the 99.9% and it is very much worth your time.  As he writes, according to a CBO report which only examines data up to 2005 (and it has gotten worse)
between 1979 and 2005 the inflation-adjusted, after-tax income of Americans in the middle of the income distribution rose 21 percent. The equivalent number for the richest 0.1 percent rose 400 percent.

And if we look at Capital Gains taxes, currently at only 15%,

taxes on capital gains are much lower than they were in 1979 - and the richest one-thousandth of Americans account for half of all income from capital gains.

Given this history, Krugman asks a very basic question, why do Republicans advocate further tax cuts for the very rich even as they warn about deficits and demand drastic cuts in social insurance programs?

Please keep reading.

The rich rewards of cutting jobs

PROFITS ARE up, so it's time to slash the workforce

Those words are the 1st paragraph of a Boston Globe column by Joan Vennochi, titled as is this piece The rich rewards of cutting jobs

It is a lead-in to an examination that starts with Boston's State Street Corporation, where 1,400 employees, 400 in MA, have lost their jobs at a time when corporate profits were up 20& and operating revenues more than 8%.

Vennochi quotes from an internal email from the CEO that this is a deliberate strategy

necessary to "enhance service excellence and innovation'' and drive "a stronger sense of urgency about getting things done.''
 As Vennochi puts it  
Those scary words reflect the new normal in corporate America.