What a guy! "Jeff" Bezos, the world's richest person, has been paid the same $81,840 salary from Amazon for two decades. Perhaps, because he needed extra cash last year to pay grocery bills, divorce lawyers and utilities, Bezos sold $1.8 billion of his Amazon stock, and kept about $1.44 billion after 20% federal capital gains … Continue reading Many of America’s biggest companies paid no federal income tax last year, or had credits under new corporate-friendly tax law
Big business in India has adopted the tactic of eliminating competition through onerous regulations. Many of us can remember the American corner grocery, local pharmacy, small bakery, tiny-herd dairy farm, one-person law or accountant firm. Tens of thousands of small companies have closed in recent decades, replaced by chains and their monopoly practices of poorer … Continue reading Big business in India benefits from taxes and regulations that are forcing small competitors out of business – sound familiar?
When you don't count Walmart, the largest employers in the world, are in China, not the United States. And the biggest firms in China are industrial and manufacturing companies, not a low-wage retailer China National Petroleum (1,636,532), China State Grid (913,546), Foxconn (803,126) and Sninopec (667,799) together employ 4,021,003 workers. Foxconn is well known in … Continue reading China’s companies win the race for producing employment giants, dwarfing American firms like GM, Apple or Exxon
It's tax season for the peons, but while you are wondering where your money is going, a few developers and bankers are chuckling. San Francisco Bay has been designated an official Opportunity Zone - containing areas where you can invest, make a fortune and pay no taxes - income or otherwise. The IRS describes the … Continue reading World’s 19th largest economy – San Francisco Bay – now qualifies for Opportunity Zone status, because its median income is “only” $117,000
While the public is focused on tariffs and pundits are bemoaning the dangers of a "trade war," our foreign competitors have the last laugh every day, watching our factories close and our colleges over-qualify future pizza delivery peons. It doesn't have to be that way. In fact, it's easy to see a solution. Here is … Continue reading VAT is another big reason our factories are closed, and the good jobs have gone overseas
The average American could care less who is the President or which party has control of Congress, but everyone who watches the news is confused about what Donald Trump really believes. The only sure and consistent Trump initiative has been the 2018 Budget to cut taxes for big corporations - dropping their income tax support … Continue reading Trump keeps his enemies close, friends distant – the result confuses everyone, including his base voters
What government pretends to owe... The Social Security Trust Fund of some $2.8 trillion is often listed in charts - such as the one above - as part of the National Debt. This particular graphic, the latest available, is from the Federal Reserve, an institution that is part of the huge debt and is owed … Continue reading Federal Reserve is now big part of National Debt for bailing out banks; Social Security $$ not owed to us?
As I entered the general manager's office in the Gimbel's Cheltenham department store, the mood was surly. Picking up an ad for my Philadelphia newspaper was usually pleasant. Sometimes conversation about merchandising for the 250,000 square foot emporium. Other times small talk and smiles, but not today. It was a Spring afternoon in the late … Continue reading Everyone was watching the girl in the teeny bikini, just like the public is now looking for a big tax cut