The Alleged News®

Courts Protect Right to Profit From Destruction

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by Julia Conley A week after the European Union announced its withdrawal from the controversial Energy Charter Treaty, which has been criticized for being one of many global agreements that allow fossil fuel companies to sue governments, a coalition on June 6th released an analysis showing just how lucrative such deals have been for firms whose emissions are wreaking havoc on the planet. The Transnational Institute, the Trade Justice Movement (TJM), Power Shift, and the Institute for Policy Studies joined forces to unveil the Global ISDS Tracker, which includes data on more than 1,300 cases that have made their way to secretive tribunals set up …

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Are Workers Just Too Stupid to Understand Inflation?

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by Les Leopold The pundits are at it again, fretting over the latest poll numbers showing that President Biden is losing in the key swing states, especially those like Michigan, Pennsylvania, and Wisconsin, with heavy concentrations of working-class voters. With inflation down, unemployment at record lows, wages up, and infrastructure projects popping up across the country, the pundits wonder why aren’t these workers thrilled with the economy? The not-so-subtle implication is that American workers are too dumb to realize that wages are rising faster than the higher prices they see all around them. Even Robert Reich, who I truly admire and hate to call out, …

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‘Scathing Indictment’ of Big Oil Lies Unveiled on Eve of Senate Hearing

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by Jessica Corbett Two U.S. Congressional committees on Tuesday released a report that “provides a rare glimpse into the extensive efforts undertaken by fossil fuel companies to deceive the public and investors about their knowledge of the effects of their products on climate change and to undermine efforts to curb greenhouse gas emissions.” The report—titled “Denial, Disinformation, and Doublespeak: Big Oil’s Evolving Efforts to Avoid Accountability for Climate Change”—was released after nearly three years of investigation by the Democratic staffs of the House Committee on Oversight and Accountability and the Senate Budget Committee. “For decades, the fossil fuel industry has known about the economic and …

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Last Year, You Spent More Than a Month’s Rent on Pentagon Contractors

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A dollar by dollar look at how our taxes enrich military contractors — at the expense of things that actually make us secure. By Lindsay Koshgarian Ever wonder where your taxes go? Each year, the Institute for Policy Studies releases a tax receipt so you can find out. One item always stands out: the Pentagon—and the contractors who profit off it. In 2023, the average taxpayer spent $2,974 on the Pentagon. Of that, just $705 went to salaries for the troops, who often have to rely on programs like food stamps. A much larger sum—$1,748—went to corporate Pentagon contractors. That’s more than the average American’s …

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“Let Them Eat GDP Reports”:
44 Million Americans Are Food Insecure

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by Jessica Corbett A U.S. anti-hunger group marked April Fools’ Day on Monday with a snarky statement suggesting that hungry Americans “can eat positive economic statistics about the soaring stock market or the growing gross domestic product.” “Let them eat GDP reports,” Hunger Free America declared of the 44 million Americans—including 13 million children—who live in food insecure households, according to the U.S. Department of Agriculture. GDP is the market value of all the finished goods and services produced in a country over a certain time period. Critics have long argued against using it as the premier indicator of how a nation is doing. “The …

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The 2024 Election is About the Rich Stealing From the Public

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A fight over extending provisions of Trump’stax cuts is at stake in November’s election. Ultimately, the race is about money. by Sonali Kolhatkar There are many issues on the line this election year but one that gets little attention is former President Donald Trump’s 2017 tax reform law that cut taxes on the wealthiest Americans and corporations. The Tax Cuts and Jobs Act permanently reduced the tax rate for big corporations from an already-low 35 percent to a ridiculously minuscule 21 percent. It also lowered tax rates for the wealthiest people from nearly 40 percent to 37 percent. Several provisions of that law are set …

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