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Your Money Panel on Income Disparity: That’s Just the Way it Goes

Click here to view this media From CNN’s Your Money , apparently we’re all supposed to think that there’s nothing that can be done to get rid of the income inequality in the United States that we’re seeing now because… hey, the rich just always figure out how to game the system. That’s just the way it goes. Our political dialog in this country has moved so far to the right that it’s taboo to even suggest that the fat cats on Wall Street and the have-mores should do more than throw the rest of us some crumbs to fight over or that heaven forbid these markets should be regulated. The rich win! Get over it suckers! If what’s going on in Wisconsin and around the country is any indication, the peons look like they’re not ready to settle for serfdom quite yet. VELSHI: Over the last decade, the income of 90 percent of the American public has remained stagnant. Take a look at this. The story changes dramatically for the other 10 percent. That bottom red line is 90 percent. That yellow line is the wealthiest 10 percent. The folks, the super wealthy, they’ve gotten richer; a whole lot richer while everybody else has stayed the same. Those superrich, by the way, account for one-half of America’s wealth. Top 10 percent, half of the American wealth. This does not sound like the America we knew. Christine, how do the rich become the superrich? ROMANS: The rich always come out on top when there’s an economic debacle. We’ve had the biggest economic debacle since the great depression. I never count out the rich for being able to figure out how to become richer. I think you can talk about how business has done, technology has allowed out sourcing — VELSHI: And mostly, working stiffs, Richard depend on their paycheck. Other people, the rich make money in other ways. They can invest in the stock market, they can invest in property like we’re talking about, and they buy the services of other people. QUEST: Look, look, it’s fundamental. If you are one of those people who was making money when you are asleep because some business is making it on your behalf, or you are one of those people who makes money because their money makes money, you’re going to be all right. But if you’re like most of us, which literally, and I challenge you, Christina, and myself, how many paychecks would it take before you are in trouble if you suddenly started losing them? Then, inevitably, it’s going to be that way. The rich have always sailed majestically on the good ship dollar big bucks. ROMANS: And you know, the rich take risks. And not all of us are big risk takers. And this has been a good world to take risks in, big risks, because you get bailed out if you fail, and if you win you win big, right? VELSHI: That’s exactly right. All right, guys, we’ll leave it at that. Great to talk to you all. Richard a pleasure to see you as always, Christine Romans.

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Think Progress features this piece on USUncut , the U.S. version of the United Kingdom grassroots movement that dares to ask the impertinent question, “Why should our public services be slashed when we have huge corporations who don’t even pay any taxes?” I think this movement has real potential — its success in Great Britain is grounded in its broadbased appeal. After all, not many people agree corporations should pay less in taxes than they do. Anyway, I hope you’ll check them out. The website has some good tips for organizing an action: In an interview with In These Times, Carl Gibson, the founder of US Uncut , which is organizing some of today’s UK-inspired massive demonstrations against tax dodgers, explains that while ordinary Americans are being asked to sacrifice, major corporations continue to use the rigged tax code to avoid paying any federal taxes at all. As he says, if you have “one dollar” in your wallet, you’re paying more than the “combined income tax liability of GE, ExxonMobil, Citibank, and the Bank of America “: [Gibson] explains, “ I have one dollar in my wallet. That’s more than the combined income tax liability of GE, ExxonMobil, Citibank, and the Bank of America. That means somebody is gaming the system .” Indeed, as politicians are asking ordinary Americans to sacrifice their education, their health, their labor rights, and their wellbeing to tackle budget deficits, some of the world’s richest multinational corporations are getting away with shirking their responsibility and paying nothing . ThinkProgress has assembled a short but far from comprehensive list of these tax dodgers — corporations which have rigged the tax system to their advantage so they can reap huge profits and avoid paying taxes: – 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 .” – 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 .” – EXXON-MOBIL : The oil giant uses offshore subsidiaries in the Caribbean to avoid paying taxes in the United States. Although Exxon-Mobil paid $15 billion in taxes in 2009, not a penny of those taxes went to the American Treasury . This was the same year that the company overtook Wal-Mart in the Fortune 500. Meanwhile the total compensation of Exxon-Mobil’s CEO the same year was over $29,000,000 . – GENERAL ELECTRIC : In 2009, General Electric — the world’s largest corporation — filed more than 7,000 tax returns and still paid nothing to U.S. government. They managed to do this by a tax code that essentially subsidizes companies for losing profits and allows them to set up tax havens overseas. That same year GE CEO Jeffery Immelt — who recently scored a spot on a White House economic advisory board — “earned total compensation of $9.89 million .” In 2002, Immelt displayed his lack of economic patriotism, saying, “When I am talking to GE managers, I talk China, China, China, China, China ….I am a nut on China. Outsourcing from China is going to grow to 5 billion.” – WELLS FARGO : Despite being the fourth largest bank in the country, Wells Fargo was able to escape paying federal taxes by writing all of its losses off after its acquisition of Wachovia. Yet in 2009 the chief executive of Wells Fargo also saw his compensation “more than double” as he earned “a salary of $5.6 million paid in cash and stock and stock awards of more than $13 million.” In the coming months, politicians across the country are going to tell Americans that the only way to stave off huge deficit and balance the budgets is by gutting programs for the poor, eviscerating support for the middle class, eliminating labor rights, and decimating the government’s ability to serve the public interest. This is a lie. The United States is the richest country in the history of the world, and income inequality is higher now than it has been at any time since the 1920′s , with the top “top 1 percentile of households [taking] home 23.5 percent of income in 2007. ”It is simply unfair for Main Street Americans who’ve already been battered by one of the worst economic crises in our history to have to continue to sacrifice while the rich and well-connected continue to rip off taxpayers and avoid paying their fair share. That’s why a Main Street Movement consisting of Americans who are fed up with the status quo is rocking the nation, and one of its first targets should be tax dodgers like Bank of America and Boeing.”

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100,000 flee to Libya neighbours in past week: UNHCR

GENEVA: The UN refugee agency today said that “close to 100,000 people”, mainly foreign migrants, have fled Libya to neighbouring countries during the past week of turmoil in the North African nation. “UNHCR emergency teams are working with Tunisian and Egyptian authorities and NGOs (non governmental organisations) to support close to 100,000 people that have fled the violence in Libya in the past week,” the office of the UN High Commissioner for Refugees…

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WaPo’s Dana Milbank Calls Wisconsin Gov. Walker a Hooligan

Dictionary.com defines “hooligan” as a ruffian or hoodlum. This is what the Washington Post's Dana Milbank called Wisconsin Gov. Scott Walker in his Sunday column: Walker thought he was talking to a patron, conservative billionaire David Koch, but thanks to the amateurish management that seems to be a hallmark of his governorship, he was instead being punked by an impostor from a liberal Web site. “I don't budge,” Walker promised the fake Koch. He explained that he would increase pressure on state workers by threatening thousands of them with layoffs. He considered planting instigators in the crowd, he said, and he might offer to talk to Democrats – but only as a ruse to get them to return. “I'm not negotiating,” he said. These are not the words of a statesman. These are the words of a hooligan. If politicians that stick to their principles and refuse to negotiate with opponents are hooligans, some of America's most revered historical figures could be so depicted. Milbank continued to define his terms: [Walker] called President Obama's health-care reform an “unprecedented power grab,” but once in office he launched his own grab by attempting to end collective bargaining for public workers But Walker's not trying to end collective bargaining for public workers. He wants to restrict it to wages. As NewsBusters has been reporting since this battle began in Wisconsin, liberal media members have consistently ignored this fact thereby distorting the truth to advance their agenda. As we can now add Milbank to this dishonorable list, does that make him a hooligan?

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Man builds machine to push phone buttons from half a world away (video)

If your ambition was to travel the world, and your job to push the buttons of three cellphones located in South Korea, you might go insane. That seems to be what happened to Mok Young Bak, at least, when he invented the crazy contraption depicted in the video above. Called the Caduceus, it’s a telepresence machine that does just one thing — it controls every single button on each of those three phones with a series of servo motors and actuator cables, and moves a pendulum-like webcam so he can clearly see each screen from wherever he happens to be. That way, he can enjoy tourism while leaving his livelihood within reach, at least so long as concerned neighbors don’t assume the terrible din is, say, a killer robot assembly line, and insist that police investigate. Man builds machine to push phone buttons from half a world away (video) originally appeared on Engadget on Sun, 27 Feb 2011 11:18:00 EDT. Please see our terms for use of feeds . Permalink

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Egypt Crisis

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Egypt Crisis

Egypt Crisis.mpg Miles Away.wmv Al Jazeera English TV launches american network. Terrorist channel!!! { Aljazeera } { Al-Jazeera } Electronic Medical Records in the Age of an Internet Kill Switch … Egypt’s crisis has raised alarms about national security and economic impact for Americans if regime change leads to an anti-US government controlling a strong ally in the Middle East. This crisis raises another more personal concern … Obama Says Gadhafi's Time Is Up As Libya's Leader – Politics News … The refrain echoed the public position maintained by the administration during the Egypt crisis , when the U.S. gradually dropped its support for longtime ally Hosni Mubarak but never explicitly demanded his resignation after nearly … Lebanon Crisis-27 February 2011 «ScrollPost.com Egypt Crisis – 27 February 2011. Posted on Feb 27 2011 00:30 UTC. Egypt Crisis – 27 February 2011. Competititve elections. Term limits. Protesters beaten. NYT whitewashes the Brothers. Help for Libya. Follow the action here as reported … Obama & the Egypt Crisis The Economist weighs in on the recent crisis in Egypt. How Obama handled Egypt Crossed wires, close calls but a good result—until the next friend. Iran News-27 February 2011 «ScrollPost.com Egypt Crisis – 27 February 2011. Competititve elections. Term limits. Protesters beaten. NYT whitewashes the Brothers. Help for Libya. Follow the action here as reported by more than 400 news sources from around the world. [. … Le_Roger says: First the trapped miners in Chile then Egypt Crisis now Libya. How much more drama can the Middle East take?

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World Cup 2011 India Vs England Live on Star Cricket: IND to bat first On Sunday, the Group B World Cup match will be play between India Vs England, which took place at M Chinnaswamy Stadium, Bangalore. Both the sides are likely to build on their strengths and use them in major knock out games as the results of this match will not escort to the outlet of any of the teams. India won the toss and elected to bat first. India holds an edging over England statistically having triumph 12 of the preceding 13 matches played between them. England lost to India 1-5 in 2006 and 0-5 back in 2008. England was also beaten in the 2006 Champions Trophy. ( Read India vs England World Cup 2011 Live more… ) India vs England World Cup Group Match Bangalore Feb 27 Live on STAR Cricket Bangalore will host India vs England on February 27, 2011. This is definitely the biggest match of the Group stage of the Cricket World Cup 2011. The next big match is obviously India vs South Africa in the group stage. After getting shifted from Eden Gardens, Kolkata, I hope there are no more controversies in the India vs England match. The live telecast of India vs England will be shown by STAR Cricket Live TV Channel in English and if you wish to listen to Hindi commentary, please watch the live streaming telecast on Star Sports TV Channel in India. In Pakistan, the same can be streamed on GEO Cricket Live TV Channel. Highlights of India vs England World Cup match will come on these channels. ( Read India vs England World Cup 2011 Live more… ) India vs England Highlights World Cup 2011 – Bangalore India vs England World Cup Highlights 2011 27th Feb Ind vs Eng World Cup Highlights. Eng vs Ind World Cup Cricket Highlights 2011 Feb 2011. India vs England Highlights World Cup 2011 Bengaluru. Match scheduled to start at 09:00 GMT. Highlights will be available a little after end of day’s play. Stay tuned! ( Read India vs England World Cup 2011 Live more… ) World Cup 2011: Bangladesh vs Ireland Live Cricket Streaming, Score, Highlights Bangladesh play Ireland in the ninth match of the World Cup 2011 and it will be a day night game. The match will be played on February 25, 2011 and will be played at Mirpur in Dhaka. The match will begin at 2:30 pm local, 09:00 GMT. See live score . Bangladesh have already played one game in the tournament and they had gone down to India in that one. To begin with, they did not bowl too well, allowing India to get to 370 before batting decent enough to get to within touching distance of 300. See ball-by-ball commentary . ( Read India vs England World Cup 2011 Live more… ) India vs England Live Score: World Cup Ind Vs Eng: Live scores and scorecard of the World Cup 2011 match today – India Vs England. 27th Feb, 2011: The ICC World Cup 2011 match for today, the 11th one, featuring India vs England (Ind vs Eng), is happening at the M. Chinnaswamy Stadium, Bengaluru. India won the toss and elected to bat, and riding on the back of a fabulous century from Sachin Tendulkar, made an imposing 339. Here are the live scores. England: 215/2 (32.5 overs) ( Read India vs England World Cup 2011 Live more… ) Ind 238, India vs England World Cup 2011 live cricket score highlights Ind 238, India vs England World Cup 2011 live cricket score highlights. Tailenders failed, otherwise score would have been in excess of 350 runs Bangalore: Indian cricket team came up with a scintillating batting performance. The good show started from the word go when Sehwag went on fire beating bowlers one by one. Then came Gambhir who took the mantle from him and played a good shots. But it was little master Sachin Tendulkar who was at his destructive best, first making sure that he was well settled and knew the nerves of the bowlers and then went on to play a memorable inning of 120 runs, his second hundred against England in the World Cup. He showed all the bowlers their place and hit them four and sixes with disdain. He hit five huge sixes and ten fours and after facing 115 runs he scored 120 runs. ( Read India vs England World Cup 2011 Live more… ) Related Searches : india vs england world cup 2011 time, india vs england world cup 2011, india vs england world cup 2011 live streaming, india vs england, india vs england live score Courtesy : Freaky Gossip , Watch Live Cricket Match , Cric Hot Line , Examiner , Fully Hyderabad & Khabrein

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Iraq PM gives gov’t 100 days to improve – or else

BAGHDAD — Gunmen stormed Iraq’s largest oil refinery and bombed the facility Saturday, forcing operations to shut down at a time when Iraqis are already suffering through electricity shortages and lines at the gas pump. The attack north of Baghdad casts doubt on the Iraqi government’s ability to protect its vital infrastructure and could shake already nervous international investors. If not fixed swiftly, the shutdown will likely further fuel anger over a lack of public services that led to violent nationwide protests last week. “It probably couldn’t have come at a worse time for (Prime Minister) al-Maliki and his government,” said Raad Al-Kadiri, an energy analyst with the…

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Penn Fitch

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Penn Fitch

mark_sergio says: Wasn't the maynard vs Edgar the same? RT @JeromeA : Majority draw for Penn-Fitch ! Wow, first time I've seen that result. #fb

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Raw Video: Amateur Footage of Fighting in Yemen

New footage has emerged showing security forces cracking down on protesters late on Friday in the Yemen port city of Aden. At least four people were killed and 43 wounded, according to security and medical officials. (Feb. 27)

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