Corporations currently owe up to $700 billion in unpaid, “deferred” taxes. Congress can make them pay, or let them off the hook. Guess which choice Congress is about to make.
Ed Schultz and David Cay Johnston discuss the legislation introduced by Democrats that would clamp down on corporate tax loopholes.
Profitable American companies paid just 12.6 percent of their profits in federal income taxes in 2010 -- well below the 35 percent federal corporate income tax rate, according to a new study by the Government Accountability Office.
In an extended essay, Bill shares striking extremes of wealth and poverty across the country.
Offshore financial industry leak exposes identities of 1,000s of holders of anonymous wealth from around the world.
When the greed, recklessness, and illegal behavior on Wall Street drove this country into the deepest recession since the 1930s, the largest financial institutions in the United States took every advantage of being American. They just loved their country - and the willingness of the American people to provide them with the largest bailout in world history. In 2008, Congress approved a $700 billion gift to Wall Street. Another $16 trillion in virtually zero interest loans and other financial assistance came from the Federal Reserve. America. What a great country.