Tag: Melissa Harris-Perry

Corporate Taxes: Getting a Bite of Apple

Cross posted from The Stars Hollow Gazette

At a recent hearing before the Senate Permanent Subcommittee on Investigations, Apple CEO Tim Cooke testified how the company managed to evade paying billions in taxes using tax loopholes particularly and overseas subsidiaries, like Apple’s subsidiary in Ireland.

Apple’s massive cash hoard, and the danger of soaring corporate profits

by Steve Gentile, Up with Steve Kornacki

The major flaw of our recovery has not been the pace, although certainly it could have been much faster. Instead, the major flaw is distribution. The economy is growing, but corporations and the richest Americans are capturing the lion’s share of the proceeds from that growth. You’ve likely heard a lot about the one percent-in the first year of the recovery, they captured 93% of the income gains – but the story of America’s corporations is even more troubling.

We’ve seen systemic inequality in our country growing for decades, even before the latest financial crisis. Between 1979 and 2007, income for the top 1% grew by nearly 300%, while it grew by just 18% for the bottom quintile of earners. [..]

Apple argues that its off-shore profits should only be subject to off-shore taxes. As if those off-shore profits had nothing to do with America. Of course, they do. Apple may sell products across the world, but the company is based in America for a reason. Apple enjoys, indeed exploits, countless legal and economic benefits by operating in America, benefits Apple wouldn’t enjoy anywhere else: basic legal protections, a judiciary that safeguards and enforces the rule of law, an intellectual property regime that affords generous-in fact, overly broad-protections for new ideas and innovations, a world-class system of higher education, a (somewhat) open immigration policy, reliable security, an advanced infrastructure for business development, and countless other benefits  from operating in a functional, developed society with a genuine social contract.

As Elizabeth Warren famously put it, “There is nobody in this country who got rich on his own.” In the same way, there is no company in this country that got rich on its own. Corporations like Apple are hampering the economy and corroding our political system by hoarding hundreds of billions of dollars in cash. They owe the American people back payments.

On her May 25 MSNBC show, Melissa Harris-Perry exams corporate money tactics and tax codes with guests Lawrence J. Korb, Senior Fellow at the Center for American Progress; Stephen Lerner, organizer of the Wall Street Accountability campaign; Pulitzer Prize-winning investigative journalist David Cay Johnston, author of The Fine Print: How Big Companies Use “Plain English” To Rob You Blind; and Yves Smith, the founder and creator of the blog Naked Capitalism.

GLAAD Supports Trangender Equality

This Sunday on MSNBC’s “Melissa Harris-Perry,”  Gay and Lesbian Alliance Against Defamation announced that in an effort to be more inclusive it would be now known as “GLAAD.” It was also announce that GLAAD would direct more focus to transgender issues.

“This is a reflection of the work we’re doing today, and a reflection of the work the gay and lesbian community needs to be doing,” GLAAD spokesman Rich Ferraro told MSNBC.com in an earlier interview. “Our name was hindering that in many instances.”

Ferraro also pointed out that shifting societal attitudes created an opportunity to do more. “There have been huge increases in support for gay and lesbians, and for marriage equality. We’ve noticed that trend and wondered how we could use the tactics that the gay and lesbian community had used to get to today’s tipping point [for the trans community].”

“I was happy to hear GLAAD has committed to prioritize trans issues,” said Laverne Cox, an actress and transgender advocate. “They really need to be.”

People who identify as transgender were nearly 30% more likely to be a victim of physical violence than people who adhere to gender norms, according to a 2011 study by the National Coalition of Anti-Violence Programs, and discrimination based upon gender expression is widespread.

Ms. Harris-Perry discusses transgender issues with guests Wilson Cruz, national spokesperson for GLAAD; New York City Council candidate for the upper west side of Manhattan, Mel Wymore; Janet Mock, journalist and transgender activist; and Kenji Yoshino, constitutional law professor at NYU.