Tag Archives: profits

26 top American corporations paid no federal income tax from ’08 to ’12 – report

Twenty-six of the most powerful American corporations – such as Boeing, General Electric, and Verizon – paid no federal income tax from 2008 to 2012, according to a new report detailing how Fortune 500 companies exploit tax breaks and loopholes.

Read more » http://rt.com/usa/low-corporate-tax-rates-275/

Corporate Profits at All-Time High; Wages at All-Time Low: Can We Call it Class War Yet?

By Sarah Jaffe

The middle class is being hollowed out; increasingly, there are the super-super-rich, and there are the rest of us.

This week, David Segal at the New York Times broke the news to America that not only was Apple — the computer and gadget manufacturer formerly seen as a symbol of good old American ingenuity — making its profits on the backs of abused factory workers in China, but also on poorly paid store employees here in the US.

Apple store workers, he wrote, make up a large majority of Apple’s US workforce—30,000 out of 43,000 employees in this country—and they make about $25,000 a year, or about $12 an hour.

Lawrence Mishel at the Economic Policy Institute notes that that’s just a dollar above the federal poverty level. This for a company that paid nine of its top executives a total of $441 million in 2011. ….

Read more » Alternet

http://www.alternet.org/story/156042/corporate_profits_at_all-time_high%3B_wages_at_all-time_low%3A_can_we_call_it_class_war_yet?page=entire#disqus_thread

The New Great Game: Afpak, blood, & oil in central Asia

The New Great Game

The New Great Game is a term used to describe the conceptualization of modern geopolitics in Central Eurasia as a competition between the United States, the United Kingdom and other NATO countries against Russia, the People’s Republic of China and other Shanghai Cooperation Organisation countries for “influence, power, hegemony and profits in Central Asia and the Transcaucasus“. It is a reference to “The Great Game“, the political rivalry between the British and Russian Empires in Central Asia during the 19th century.

Many authors and analysts view this new “game” as centering around regional petroleum politics. Now, instead of competing for actual control over a geographic area, “pipelines, tanker routes, petroleum consortiums, and contracts are the prizes of the new Great Game”.The term has become prevalent throughout the literature about the region, appearing in book titles, academic journals, news articles, and government reports.[3] Pakistani author Ahmed Rashid claims he coined the term in a self-described “seminal” magazine article published in 1997, however uses of the term can be found prior to the publication of his article.

In a leaked US Embassy cable released by WikiLeaks, it was reported that Prince Andrew, Duke of York, supports the concept of a New Great Game:

Addressing the Ambassador directly, Prince Andrew then turned to regional politics. He stated baldly that “the United Kingdom, Western Europe (and by extension you Americans too”) were now back in the thick of playing the Great Game. More animated than ever, he stated cockily: “And this time we aim to win!

Courtesy: wikipedia