Where is the Money Going?
Federal Prosecutors Work without Pay
Tight on money but loaded with cases to prosecute, the U.S. Attorney’s office in Kansas City has been using unpaid attorneys fresh out of law school to help out.
According to The Kansas City Star, U.S. Attorney Beth Phillips implemented the pr... read more
Prescription Drug Coupons Hit as Scams in Multiple Lawsuits
Half a dozen lawsuits by organized labor health funds have been filed against pharmaceutical companies accusing the companies of inflating the price of prescription medication to be paid by the insurance plans.
The big pharmaceutical companies... read more
Pentagon Awarded $20 Million Contract to Company that Owes $4 Million in Back Taxes
In the course of allocating hundreds of millions of dollars to contractors during the Iraq war, the Department of Defense gave $20 million to a company that owed $4 million in back taxes.
Senators Tom Carper (D-Delaware) and Tom Coburn (R-Okla... read more
Economic Recovery Overwhelmingly Went to Top 1%, Who Gained 93% of Growth
It is no wonder public discontent has been so sharp during the so-called economic recovery in the United States, considering the findings of a new study by Emmanuel Saez, whose previous studies on income distribution have given a statistical basis... read more
Green Energy Firms Took Government Money, Awarded Bonuses, Filed for Bankruptcy
Some “green” energy companies supported by the Obama administration have caused critics to see red.
That’s because at least four alternative energy businesses that received financing from the Department of Energy wound up filing for bankruptcy... read more
Big 6 Oil Companies Complete a Trillion-Dollar Decade
Times are good for the six largest oil companies, with profits easily surpassing the figures from before the 2008 financial meltdown. In 2011 ExxonMobil led the way with profits of $41.1 billion. Shell was in second place at $28.6 billion, followe... read more
Corporate Tax Rate Too High? Not for GE…2.3% over 10 Years
Indicative that something is amiss with the corporate income tax system, General Electric over the last 10 years paid only 2.3% tax on more than $81 billion in profits, according to the advocacy group Citizens for Tax Justice.
It was revealed ... read more
BP Contracts with Defense Dept. Surge Since Oil Spill
Despite its oil well causing the worst spill in U.S. history, oil giant BP has enjoyed increased business with the Department of Defense.
Sales of BP fuel to the Pentagon rose 33%, from $1.02 billion in 2010—when the Gulf of Mexico became foul... read more
17 States Considering State Banks
Taking a cue from North Dakota, a large number of state governments are considering the establishment of a state bank.
In the wake of the financial and mortgage crises, proponents are pushing for states to rely less on large national private b... read more
Big Businesses Still Winning Small Business Contracts
The vast majority of “small businesses” that won the largest share of federal contracts last year turned out to be large companies, according to the American Small Business League.
Businesses qualify as “small” based on their annual revenue an... read more
Kansas Tax Committee Approves Bill to Raise Taxes for Poor and Lower Taxes for Rich
It seems that the 1% have some pretty enthusiastic fans in the Kansas legislature. Last week, the state House Committee on Taxation approved a bill to raise taxes on the poor and cut them for the rich. Specifically, those making less than $25,000 ... read more
U.S. Use of Gasoline is Down, Yet Pump Prices are Up as Speculators Move In
Driven in large part by market speculators, the price of gasoline has increased significantly recently—at a time when demand at the pump is down.
In fact, demand for oil and gasoline is down so much that the U.S. has become a net exporter of t... read more
Minimum Wage for Tipped Workers Hasn’t Changed in More Than 20 Years
While making a living on $7.25 an hour is not easy, it’s even tougher when the federal minimum wage for waiters and waitresses is only $2.13—a rate that hasn’t changed since 1991.
The justification for the lower rate is that these restaurant w... read more
They Wounded the Economy, but Now Subprime Mortgage Securities are Back
Why would Wall Street go back into the same risky investments that toppled some of its biggest firms and nearly crippled the financial sector? Simple: The deals are just too good to pass up and, as the 2008 bailout showed, those on top will probab... read more
Just 37 Americans Provided More than Half of Super PAC Money from Individuals in 2011
To say fundraising this election is being dominated by the 1% would be a gross overestimation. The actual number is more like .0000063%. Super PACs, the most talked about aspect so far of the 2012 campaign, received nearly 80% of their individual ... read more
To Create Jobs, Transfer Billions from Military to Education
With the withdrawal of American combat troops from Iraq in December and an exit from Afghanistan planned for 2013, many Americans are hoping that President Obama’s State of the Union promise of a large “peace dividend” will help lift the country o... read more