With the national tax filing deadline fast approaching, Americans are once again plopping down with pen, paper and potentially Turbotax to determine just how much they owe their state and federal governments. But while the popular refrain posits that nothing in life is certain but death and taxes, for many corporations and wealthy individuals, having to pay a tax bill is anything but a certainty.
During the Great Recession, the wealth gap between whites and African-Americans nearly doubled, leaving white with nearly 22 times as much in household wealth. According to a new study from Brandeis University’s Institute on Assets and Social Policy, this merely exacerbated a much longer trend during which the wealth of whites exploded while that of African-Americans stagnated:
When Wisconsin Gov. Scott Walker, R, initiated a high-profile effort to bust his state’s public sector unions in 2011, he said that he had no interest in pursuing similar efforts against private sector unions. “Private sector unions are my partner in economic development,” Walker has said. The Milwaukee Journal Sentinel noted that he “has consistently downplayed seeking any restrictions on private unions in public statements.”
The Obama administration is reviving its push to provide labor protections to home health workers who are often excluded from traditional labor law. According to The Hill, the administration will offer a final rule governing the home health industry soon:
During his State of the Union address, President Obama called for raising the minimum wage to $9 an hour, up from its current $7.25, and indexing it to inflation so that it rises as the economy grows. If the increase were to happen, it would give the minimum wage its highest purchasing power since 1981, lifting millions of families above the poverty line.
Most of the recent economic data out of Europe has been exceedingly grim. A record high number of workers across the Eurozone are unemployed. Economies are shrinking. Debts are rising.
Business executives like to portray the Obama administration as the “most anti-business” in history, creating an “increasingly hostile environment for investment and job creation.” However, the data tells a far different story. According to a Bloomberg News analysis, corporate profits have grown by 171 percent under Obama, the most in the post-war era:
Two Republican senators want to use the threat of an economic meltdown to raise the retirement age and cut Medicare. Sens. Bob Corker (R-TN) and Lamar Alexander (R-TN) introduced a plan today that would raise the federal debt limit by $1 trillion in exchange for $1 trillion in cuts to Medicare, Medicaid, and Social Security, as The Hill reported:
Yesterday, Nancy Pfotenhauer, Sen. John McCainÃ¢â‚¬â„¢s (R-AZ) senior policy adviser, claimed that she had been Ã¢â‚¬Å“misinformedÃ¢â‚¬Â when she falsely stated that Hurricanes Katrina and Rita Ã¢â‚¬Å“did not spill a drop of oil.Ã¢â‚¬Â
Today, McCain made another Ã¢â‚¬Å“misinformedÃ¢â‚¬Â argument, claiming that oil rigs in the Gulf of Mexico Ã¢â‚¬Å“have survived, very successfully, the impacts of hurricanesÃ¢â‚¬Â: