Corporate Power

WATCH: Highlighting Trump’s ‘Promises Broken,’ Sanders Gives Address on Biden’s Plan for the Economy and Working Families

WATCH: Highlighting Trump’s ‘Promises Broken,’ Sanders Gives Address on Biden’s Plan for the Economy and Working Families Read WATCH: Highlighting Trump’s ‘Promises Broken,’ Sanders Gives Address on Biden’s Plan for the Economy and Working Families on Common Dreams

Highlighting Trump’s ‘Promises Broken,’ Sanders to Give Saturday Address on Biden’s Plan for the Economy and Working Families

Highlighting Trump’s ‘Promises Broken,’ Sanders to Give Saturday Address on Biden’s Plan for the Economy and Working Families Read Highlighting Trump’s ‘Promises Broken,’ Sanders to Give Saturday Address on Biden’s Plan for the Economy and Working Families on Common Dreams

As Big Box Stores Thrive, 1 in 5 Small Businesses Expect to Close in Next 6 Months Without Urgent Federal Aid

One in five small businesses reported in a survey Monday that they will have to shut their doors permanently if economic conditions—and the federal government’s efforts to improve them—don’t change in the next six months.  The National Federation of Independent Businesses (NFIB) surveyed 561 small business owners on August 17 and 18 and found that …

As Big Box Stores Thrive, 1 in 5 Small Businesses Expect to Close in Next 6 Months Without Urgent Federal Aid Read More »

As Wages Stagnate and Executive Pay ‘Continues to Balloon,’ Report Shows Top CEOs Now Make 320 Times More Than Typical Worker

New research published Tuesday by the Economic Policy Institute shows that the top executives at the largest corporations in the United States now make 320 times more than what their typical employees earn in wages and benefits. “CEO pay can be curbed to reduce the growing gap between the highest earners and everyone else with …

As Wages Stagnate and Executive Pay ‘Continues to Balloon,’ Report Shows Top CEOs Now Make 320 Times More Than Typical Worker Read More »

Over 50 House Democrats Rip Fed for Allowing Mass Public-Sector Layoffs by Favoring Big Corporations Over Local Governments

A group of more than 50 House Democrats on Thursday slammed the Federal Reserve for allowing mass public-sector layoffs by refusing to offer state and local governments the same favorable lending terms it has granted private corporations. “It’s time for the Federal Reserve to stop treating corporations better than state and local governments.” —Rep. Mark …

Over 50 House Democrats Rip Fed for Allowing Mass Public-Sector Layoffs by Favoring Big Corporations Over Local Governments Read More »

Critics Warn Against McConnell’s ‘Craven’ Push to Immunize Corporate Criminals

As Congressional negotiations continue over the next Covid-19 stimulus legislation, workers’ rights advocates have become increasingly vocal in their opposition to corporate immunity provisions pushed by Senate Majority Leader Mitch McConnell. “Mitch McConnell is much more worried about an imaginary epidemic of lawsuits than he is about the real life pandemic hurting the country,” Rob …

Critics Warn Against McConnell’s ‘Craven’ Push to Immunize Corporate Criminals Read More »

‘Taking Taxpayers for a Ride’: Moderna to Charge $32-$37/Dose for Covid-19 Vaccine Developed Entirely With Public Funds

Consumer advocates warned Wednesday that pharmaceutical giant Moderna is “taking taxpayers for a ride” after the company announced plans to charge between $32 and $37 per dose for a potential Covid-19 vaccine developed entirely with funds from the U.S. federal government. “Taxpayers are paying for 100% of Moderna’s Covid-19 vaccine development. All of it,” Peter …

‘Taking Taxpayers for a Ride’: Moderna to Charge $32-$37/Dose for Covid-19 Vaccine Developed Entirely With Public Funds Read More »

34 State Attorneys General Urge Trump to End ‘Outrageous’ Gilead Monopoly on Covid-19 Drug

Warning of “dangerously low and insufficient” supply projections, a bipartisan coalition of nearly three dozen state attorneys general is urging the Trump administration to end pharmaceutical giant Gilead’s monopoly control over Covid-19 treatment remdesivir by authorizing generic production of the drug, which was developed with the support of at least $70 million in taxpayer funding. …

34 State Attorneys General Urge Trump to End ‘Outrageous’ Gilead Monopoly on Covid-19 Drug Read More »

SEC Launches Probe Into Kodak After Warren Raised Questions Over Lucrative Covid-19 Deal With Trump

The Securities and Exchange Commission on Tuesday reportedly launched an investigation into Kodak after Sen. Elizabeth Warren demanded a probe of possible insider trading at the tech company, which gifted its CEO nearly two million stock options just a day before President Donald Trump last week handed the company a $765 million federal loan to …

SEC Launches Probe Into Kodak After Warren Raised Questions Over Lucrative Covid-19 Deal With Trump Read More »

Sanders Rips Trump for ‘Obscene’ Boasting Over Stock Market as 30 Million Americans Face Financial Doom

Sen. Bernie Sanders on Monday slammed President Donald Trump for bragging on Twitter about the booming stock market just days after Republican inaction allowed the $600-per-week boost in unemployment benefits to expire, slashing the incomes of nearly 30 million Americans as the economy remains mired in deep recession. “Tweeting this during the worst economic downturn …

Sanders Rips Trump for ‘Obscene’ Boasting Over Stock Market as 30 Million Americans Face Financial Doom Read More »

After Sexist Attack by GOP Colleague, AOC Says on House Floor That Her Parents ‘Did Not Raise Me to Accept Abuse From Men’

In a fiery speech on the House floor Thursday, Rep. Alexandria Ocasio-Cortez condemned Republican Rep. Ted Yoho’s sexist attack on her in front of the U.S. Capitol Building earlier this week as the product of a culture and “entire power structure” that excuses and enables dehumanizing abuse of women. “I am here because I have …

After Sexist Attack by GOP Colleague, AOC Says on House Floor That Her Parents ‘Did Not Raise Me to Accept Abuse From Men’ Read More »

Oxfam America Calls for Tax on ‘Pandemic Profiteers’ to Fund Covid-19 Recovery and the Common Good

The U.S. government could easily ensure that all Americans and the global community benefit from the profits that many wealthy U.S. companies have raked in during the coronavirus pandemic, Oxfam America said in a report released Wednesday as the group called for the country to implement a Pandemic Profits Tax, similar to one used during …

Oxfam America Calls for Tax on ‘Pandemic Profiteers’ to Fund Covid-19 Recovery and the Common Good Read More »

‘Congress Must Oppose This Dangerous Proposal’: Draft of McConnell Corporate Immunity Plan Sparks Alarm

Consumer and workers’ rights advocates are warning that new details of Senate Majority Leader Mitch McConnell’s plan to shield businesses from coronavirus-related lawsuits show just how far the Republican leader is willing to go to ensure corporations are not held accountable for endangering public health and safety. “The Senate’s rabid desire to shield corporations from …

‘Congress Must Oppose This Dangerous Proposal’: Draft of McConnell Corporate Immunity Plan Sparks Alarm Read More »

‘An Absolute Outrage’: Sanders Rips ‘Wealthy Tax Cheats’ as CBO Estimates $381 Billion in Annual Unpaid Taxes

A Congressional Budget Office report commissioned by Sen. Bernie Sanders and published Wednesday found the amount of unpaid taxes from 2011 to 2013 averaged around $381 billion per year, a revenue shortfall the Vermont senator called an “absolute outrage” that is largely the result of big corporations and  “wealthy tax cheats” dodging their obligations. “The …

‘An Absolute Outrage’: Sanders Rips ‘Wealthy Tax Cheats’ as CBO Estimates $381 Billion in Annual Unpaid Taxes Read More »

‘Greed Is a Danger to Public Health’: Progressive Caucus Urges Ban on Big Pharma Coronavirus Price-Gouging

In the wake of Gilead’s announcement that it will charge U.S. hospitals $3,120 per privately insured patient for a treatment course of Covid-19 drug remdesivir, the Congressional Progressive Caucus is calling on Congress to pass legislation combating the pharmaceutical industry’s effort to “profiteer off a pandemic” by imposing exorbitant prices. “This doesn’t come as a …

‘Greed Is a Danger to Public Health’: Progressive Caucus Urges Ban on Big Pharma Coronavirus Price-Gouging Read More »

‘A Scandal’: Contracts Show Trump Giving Big Pharma Free Rein to Price Gouge Taxpayer-Funded Coronavirus Drugs

Government contracts obtained by consumer advocacy group Knowledge Ecology International show that the Trump administration is giving pharmaceutical companies a green light to charge exorbitant prices for potential coronavirus treatments developed with taxpayer money by refusing to exercise federal authority to constrain costs. “The government has limited its ability to intervene if the pharmaceutical companies… …

‘A Scandal’: Contracts Show Trump Giving Big Pharma Free Rein to Price Gouge Taxpayer-Funded Coronavirus Drugs Read More »

Big Pharma Trade Group Blasted as ‘Morally Bankrupt’ for Suing to Block Minnesota Insulin Affordability Law

A Big Pharma trade group is under fire for filing a federal lawsuit late Tuesday against Minnesota’s Alec Smith Insulin Affordability Act mere hours before it took effect. State Sen. Matt Little, a member of the Minnesota Democratic–Farmer–Labor Party (DFL), decried the move as “morally bankrupt” and “devoid of humanity.” In a Tuesday night tweet, …

Big Pharma Trade Group Blasted as ‘Morally Bankrupt’ for Suing to Block Minnesota Insulin Affordability Law Read More »

‘Absolute Robbery’: Gilead Announces $3,120 Price Tag for Covid-19 Drug Developed With $70 Million in Taxpayer Support

Consumer advocates reacted with disgust Monday to an announcement by Gilead Sciences that it will charge U.S. hospitals around $3,120 per privately insured patient for a treatment course of remdesivir, a drug which has proven modestly effective at speeding Covid-19 recovery times. “Allowing Gilead to set the terms during a pandemic represents a colossal failure …

‘Absolute Robbery’: Gilead Announces $3,120 Price Tag for Covid-19 Drug Developed With $70 Million in Taxpayer Support Read More »

Victory for “Wall Street’s Army of Lawyers and Lobbyists” as Supreme Court Puts CFPB Chief Under Trump’s Control

The U.S. Supreme Court on Monday struck down a Consumer Financial Protection Bureau statute shielding the agency’s director from being fired by the president without cause, a decision that critics warned threatens the bureau’s ability to protect the public from corporate abuses without political interference. The high court’s conservative majority ruled that the CFPB provision …

Victory for “Wall Street’s Army of Lawyers and Lobbyists” as Supreme Court Puts CFPB Chief Under Trump’s Control Read More »

‘Free Handout to Insurance Industry’: Trump Administration Tells Insurers They Don’t Have to Cover Covid-19 Tests for Workers

The Trump administration issued policy guidance this week telling health insurance companies that they are not required by law to cover the Covid-19 tests employers may compel workers to undergo as a condition for returning to their jobs. The announcement (pdf) Tuesday by the Departments of Treasury, Labor, and Health and Human Services alarmed healthcare …

‘Free Handout to Insurance Industry’: Trump Administration Tells Insurers They Don’t Have to Cover Covid-19 Tests for Workers Read More »

US Slammed as ‘Rogue State’ for Withdrawing From Global Effort to Make Tech Giants Pay Fair Share in Taxes

The Trump administration on Wednesday abruptly withdrew from international negotiations over how best to tax the profits of multinational corporations such as U.S.-based tech giants Amazon and Google, leading European allies to accuse the White House of torpedoing years-long talks that were close to a resolution. In a letter to the finance ministers of France, …

US Slammed as ‘Rogue State’ for Withdrawing From Global Effort to Make Tech Giants Pay Fair Share in Taxes Read More »

Leading US Retirees ‘Like Lambs to the Slaughter,’ Trump Labor Dept. Quietly Offers Up 401k Plans to Private Equity Vultures

With the American public’s attention consumed by the Covid-19 pandemic and mass protests against police brutality, the U.S. Labor Department earlier this month quietly gave corporate sponsors of retirement plans something they’ve been agitating over for years: a government green light to invest workers’ savings into funds managed by notoriously predatory private equity firms. The …

Leading US Retirees ‘Like Lambs to the Slaughter,’ Trump Labor Dept. Quietly Offers Up 401k Plans to Private Equity Vultures Read More »

Ethics Complaint Filed to Force Trump’s Covid-19 Vaccine Czar—a Former Pharma Exec—to Submit to Ethics Rules

A pair of consumer watchdog groups on Thursday filed a formal federal ethics complaint stating that President Donald Trump’s so-called “Vaccine Czar”—a former pharmaceutical executive with deep personal investments in the industry—should be forced to submit to the same conflict of interest and financial disclosure rules as other government officials charged with overseeing large sums …

Ethics Complaint Filed to Force Trump’s Covid-19 Vaccine Czar—a Former Pharma Exec—to Submit to Ethics Rules Read More »

‘Here We Go Again’: Richest Hospitals Sitting on Billions in Cash Got Golden Bailouts Compared to Those Serving Poorest

While critics have noted in recent weeks the ways in which the Covid-19 pandemic has “laid bare some of the dysfunctions and inequalities in the American healthcare system,” new reporting Monday reveals how some of the wealthiest hospital groups in the United States have received huge infusions of federal rescue funds even as they sat …

‘Here We Go Again’: Richest Hospitals Sitting on Billions in Cash Got Golden Bailouts Compared to Those Serving Poorest Read More »

Bernie Sanders Says It Is ‘Nauseating’ to See Corporations Praise Frontline Workers as ‘Heroes’ While Refusing to Pay Them More

During a virtual town hall late Thursday with public health professionals and labor leaders, Sen. Bernie Sanders ripped big companies for spending money on advertisements hailing frontline workers as “heroes and heroines” while refusing to pay these essential employees higher wages as they perform their jobs amid the coronavirus pandemic. “I personally get really sick …

Bernie Sanders Says It Is ‘Nauseating’ to See Corporations Praise Frontline Workers as ‘Heroes’ While Refusing to Pay Them More Read More »