Inspired by the UK Uncut
movement, Americans are taking to the street, asking why they're being asked to tighten their belts when the largest corporations in the country are paying no tax at all:
- BANK OF AMERICA: In 2009, Bank of America didn't pay a single penny in federal income taxes, exploiting the tax code so as to avoid paying its fair share. "Oh, yeah, this happens all the time," said Robert Willens, a tax accounting expert interviewed by McClatchy. "If you go out and try to make money and you don't do it, why should the government pay you for your losses?" asked Bob McIntyre of Citizens for Tax Justice. The same year, the mega-bank's top executives received pay "ranging from $6 million to nearly $30 million."
REPORT: You Have More Money In Your Wallet Than Bank Of America Pays In Federal Taxes
- BOEING: Despite receiving billions of dollars from the federal government every single year in taxpayer subsidies from the U.S. government, Boeing didn't "pay a dime of U.S. federal corporate income taxes" between 2008 and 2010.
- CITIGROUP: Citigroup's deferred income taxes for the third quarter of 2010 amounted to a grand total of $0.00. At the same time, Citigroup has continued to pay its staff lavishly. "John Havens, the head of Citigroup's investment bank, is expected to be the bank's highest paid executive for the second year in a row, with a compensation package worth $9.5 million."
Claude Shannon is one of the great, heroic titans of the computer science revolution, a brilliant scientist and Feynman-grade eccentric whose accomplishments fill several excellent books.
Your Roomba vacuum cleaner collects data about the size and geometry of your home as it cleans and transmits that data back to Irobot, Roomba’s parent company — and now the company says it wants to sell that data to companies like Apple and Google.
The American “productivity paradox”: technology keeps marching, but the amount of profit generated by the average worker’s average hour is stagnant.
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