Wednesday, April 6, 2011

Link of the Day, April 6 2011

There are many stories of interest today: for example, one from The Guardian saying that there is a world-wide attack on workers underway; and the last column by Bob Herbert in The New York Times, in which he says the US has definitely lost its way as the rich dominate all created wealth. And then there’s this one, a staggering article from truthdig by Chris Hedges, about the growing economic crisis in the US, which is now frankly run by the corporations. Read it here

(“Civil disobedience, such as….the upcoming protest in Union Square, is the only tool we have left. A fourth of the country’s largest corporations—including General Electric, ExxonMobil and Bank of America—paid no federal income taxes in 2010. But at the same time these corporations operate as if they have a divine right to hundreds of billions in taxpayer subsidies. Bank of America was handed $45 billion—that is billion with a B—in federal bailout funds. Bank of America takes this money—money you and I paid in taxes—and hides it along with its profits in some 115 offshore accounts to avoid paying taxes. One assumes the bank’s legions of accountants are busy making sure the corporation will not pay federal taxes again this year. Imagine if you or I tried that.”)

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