by Robert Reich
Washington is paralyzed by snow and partisanship. Nothing is getting done – even as the Great Recession pulls more Americans into its maw.
In the midst of this paralysis, the President was asked about the giant pay packages of Jamie Dimon, CEO of JP Morgan Chase & Co. ($17 mullion for 2009) and Lloyd [...]
Tag | Morgan Stanley
One Free Market System for Wall Street, Another Free Market System for Main Street
Posted on 15 February 2010 by Robert Reich | Comments (0) | Tags: $700 billion bailout of Wall Street, Bank of America, bankruptcy, Citigroup, free market system, Goldman Sachs, Jamie Dimon, JP Morgan Chase, Lloyd Blankfein, Main Street, Morgan Stanley, President Obama, Robert Reich, Wall Street, Wells Fargo
Connecting the Offshore Dots
Posted on 05 May 2009 by Denis Campbell | Comments (0) | Tags: Bank of America, Cayman Islands, Citi Group, Morgan Stanley, MSNBC, Rachel Maddow, shell companies, Tax Code, Tax shelters, Ugland House
by Denis Campbell
Rachel Maddow’s example on MSNBC was a simple enough explanation of how $21 billion dollars in annual tax revenue disappears from US coffers through legal loopholes that create tax shell corporations.
Mr. Bill Hypothetical, based in Texas, earns $50,000 annually and pays a 25% tax rate. KBR’s profits, also based in Texas (a military [...]
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