Economy

On Anniversary of Prank Call the Real David Koch Wants to "Stop Union Power" in Wisconsin

David KochOne year ago this week, blogger Ian Murphy of the Buffalo Beast pranked Wisconsin Governor Scott Walker by posing as billionaire David Koch on a phone call. As the crowds at the Capitol protesting Walker's bill to end collective bargaining were increasing in size and volume, the fake Koch inquired how Walker's efforts to "crush that union" were going. Walker's fawning response helped rocket the Wisconsin protests into the national media limelight.

Now the real David Koch reveals that crushing unions is indeed at the top of his agenda. In an interview with the Palm Beach Post, Koch talks about Walker, unions and the historical importance of the Wisconsin recall fight.

Romney Team Spins of the Positives of Cayman Island Accounts

The Cayman IslandsMitt Romney's 2010 tax returns show that in 2010, Romney and his wife, Ann, paid an effective tax rate of 13.9 percent on $21.6 million in income -- much lower than the 35 percent the country's top wage-earners pay -- and hold millions of dollars in multiple offshore accounts in the Cayman Islands, a notorious tax haven. The official spin is that the Cayman accounts provide no particular tax advantage, that they pay higher interest rates and help "attract foreign investors." Romney's campaign counsel, Ben Ginsburg, assured journalists that Romney was in full compliance with U.S. tax laws, and Brad Malt, who operates the Romneys' blind trust, said Romney's Cayman funds are fully taxable and reported to the IRS. That may be so, but Rebecca Wilkins, a tax policy expert with Citizens for Tax Justice, points out that the federal government loses about $100 billion a year to just such foreign tax havens. Wilkins affirmed that the primary advantage to investors of setting up funds in places like the Cayman Islands is to help people avoid taxes. Jack Blum, a Washington, D.C. attorney who specializes in offshore banking and tax enforcement, said offshore investment vehicles allow investors to "avoid a whole series of small traps in the tax code that ordinary people would face if they paid tax on an onshore basis."

No

WI Recall Petitions Under Guard as "GAB CAM" Goes Live

So many signatures were delivered demanding the recall of Wisconsin Governor Scott Walker and other state officials, that one scribe dubbed it the "greatest popular democracy movement in Wisconsin history." Over 30,000 volunteers collected over 1.9 million signatures and delivered them to the state's nonpartisan elections board on January 17.

Volunteers exceeded all expectations, delivering 1 million petitions for the recall of Scott Walker, an amount equivalent to 46 percent of the votes cast in the last gubernatorial race. Never had so many, in the history of the United States, petitioned for the recall of a governor.

Indiana Workers Stand against the ALEC Agenda and the Anti-Labor Bill Called the "Right to Work" (for Less)

Thousands of Indiana workers rallied outside, and inside, their state capitol on Wednesday to speak out against Governor Mitch Daniels' renewed effort to force through so-called "right to work" legislation designed to undermine labor unions and workers' rights protected by collective bargaining.

When Medicare Isn't Medicare

Let's say you have a Ford and decide to replace everything under the hood with Hyundai parts, including the engine and transmission. Could you still honestly market your car as a Ford?

That question gets at the heart of the controversy over who is being more forthright about GOP Rep. Paul Ryan's plan to "save" Medicare, Republicans or Democrats.

Profit, risk, lossIf you overhaul the Medicare system like you did your Ford and tell the public it's still Medicare, are you doing so honestly?

Spinning the Occupation

As winter sets in and Occupy Wall Street (OWS) encampments contract, the three-month old movement continues to have a big impact on the campaign trail. President Obama as well as some GOP candidates have adopted OWS concerns and language, while big bank lobbyists and GOP spinmeisters work hard to hold the line, defending U.S. economic institutions and the American "free market" system against what they fear could be a broad-based populist uprising.

Pages

Subscribe to Economy