As global capital becomes ever more powerful, giant corporations are holding governments and citizens up for ransom — eliciting subsidies and tax breaks from countries concerned about their nation’s “competitiveness” — while sheltering their profits in the lowest-tax jurisdictions they can find. Major advanced countries — and their citizens — need a comprehensive tax agreement that won’t allow global corporations to get away with this.
Google, Amazon, Starbucks, every other major corporation, and every big Wall Street bank, are sheltering as much of their U.S. profits abroad as they can, while telling Washington that lower corporate taxes are necessary in order to keep the U.S. “competitive.”
Baloney. The fact is, global corporations have no allegiance to any country; their only objective is to make as much money as possible — and play off one country against another to keep their taxes down and subsidies up, thereby shifting more of the tax burden to ordinary people whose wages are already shrinking because companies are playing workers off against each other.
I’m in London for a few days, and all the talk here is about how Goldman Sachs just negotiated a sweetheart deal to settle a tax dispute with the British government; Google is manipulating its British sales to pay almost no taxes here by using its low-tax Ireland subsidiary (the chair of the Parliamentary committee investigating this has just called the do-no-evil firm “devious, calculating, and unethical”); Amazon has been found to route its British sales through a subsidiary in low-tax Luxembourg, and now receives more in subsidies from the British government than it pays here in taxes; Starbucks’ tax-avoidance strategy was so blatant British consumers began boycotting the firm until it reversed course.
Meanwhile, At a time when you’d expect nations to band together to gain bargaining power against global capital, the opposite is occurring: Xenophobia is breaking out all over.
Here in Britain, the UK Independence Party — which wants to get out of the European Union — is rapidly gaining ground, becoming the third most popular party in the country, according to a new poll for The Independent on Sunday. Almost one in five people plan to vote for it in the next general election. Ukip’s overall ratings have risen four points to 19 per cent in the past month, despite Prime Minister David Cameron’s efforts to wrest back control of the crucial debate over Britain’s relationship with the European Union.
Right-wing nationalist parties are gaining ground elsewhere in Europe as well. In the U.S., not only are Republicans sounding more nationalistic of late (anti-immigrant, anti-trade), but they continue to push “states rights” — as states increasingly battle against one another to give global companies ever larger tax breaks and subsidies.
Nothing could strengthen the hand of global capital more than such breakups.
Fit me!
Janice Dickinson in a fitting session with American Fashion Designer Michael Kors in New York City.
c. 1970s.
D.R.
dollah-dollah-bills-yall replied to your quote: You will do well to expand your business
Maybe it’s telling you to finish another novel?
Yes, and I have to finish the last rewrites I went back and did on the first one too. I probably should be doing that fortune cookie or not haha
My buddy and I drove to the top of Cathedral Ledge after our hike today. Looks like it was a great day to hike, huh? Yeah well, on the Carter-Moriah Trail, it was in the 30s, windy, with a wintery mix of snow and hail. I’m not kidding. Neither of us were dressed for that— we both only had shorts on and no gloves or hats— see above for what the forecast was that we planned for— so we just summitted North Carter— a Peak neither of us had done before— and went back down the Imp Trail, skipping the other Carter mountains we’d planned on doing.
Also, you may notice two people sitting on the rock in the fourth picture. Those were rock climbers who climbed that big rock, and when I saw them, I felt a pang of jealousy, because they earned the view they were looking at, and I know what it’s like to earn my view, and it looks so much sweeter.
Yes, this was definitely cool at one time. All that hair! “Nobody’s Fool” was just on the radio today… such memories, although I was a bit older, and I admit, they were horrible in concert! It was still worth it!
Oh my God, “Nobody’s Fool”? I loved that one, and “Gypsy Road” too. And I can only imagine how bad they would’ve been in concert, considering how much partying they all did! My friends and I would all spend our allowance on all the Hair Bands’ cassette singles, but if any of us at that age had gone to a concert we probably would’ve been scarred for life hahaha
Cinderella, “Don’t Know What You Got (Till It’s Gone)”.
Heard this on the shuttle yesterday. You’re probably expecting some kind of explanation for what you’re seeing here. Why are the guys wearing the pants of modern model street style? Why is this a bizarro “Enjoy the Silence”? Was this really considered cool at one time? First off, I was 9 at the time, so I don’t know what to tell you. Second, are you telling me this isn’t cool now? And finally, the bassist has one of the best mullets ever. It’s like a palm tree of hair is sprouting out of his head. Just amazing.
