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Robbery, not reconstruction, in Iraq
2006-04-18, Boston Globe
http://www.boston.com/news/globe/editorial_opinion/oped/articles/2006/04/18/r...

We have heard various individual cases of overcharging and fraud by American firms in the reconstruction of Iraq. A year ago, an audit by the inspector general found no evidence of work done or goods delivered on 154 of 198 contracts. Sixty cases of potential swindles are under investigation. Halliburton and its hundreds of millions of dollars of overcharges or baseless costs are well known. But millions more were taken by companies that promised to build or restore libraries or police facilities, or deliver trucks and construction equipment. US government investigators can account for only a third of the $1.5 billion given by the CPA to the interim government and it appears that a substantial portion of the $8 billion given to Iraqi ministries went to "ghost employees." Because of the way the United States set things up after the invasion, contractors are immune from prosecution by Iraqis. This is robbery, not reconstruction. It has been three years and all Iraq has become is a "free-fraud zone," according to one of the attorneys for whistleblowers in Iraqi swindles. Recently, the Army found that Halliburton had $263 million of exaggerated or unexplainable costs on a $2.4 billion no-bid contract, yet still paid Halliburton $253 million of the $263 million.

No Boundaries
2005-06-09, CNN News
http://transcripts.cnn.com/TRANSCRIPTS/0506/09/ldt.01.html

A panel sponsored by the Council on Foreign Relations wants the United States to focus not on the defense of our own borders, but rather create what effectively would be a common border that includes Mexico and Canada. CHRISTINE ROMANS, CNN CORRESPONDENT: On Capitol Hill, testimony [is] calling for Americans to start thinking like citizens of North America and treat the U.S., Mexico and Canada like one big country. That's the view in a report called "Building a North American Community." It envisions a common border around the U.S., Mexico and Canada in just five years, a border pass for residents of the three countries, and a freer flow of goods and people. [Task force member Robert] PASTOR: What we hope to accomplish by 2010 is a common external tariff which will mean that goods can move easily across the border. We want a common security perimeter around all of North America. ROMANS: Security experts say folding Mexico and Canada into the U.S. is a grave breach of that sovereignty. [The report calls for] temporary migrant worker programs expanded with full mobility of labor between the three countries in the next five years. The idea here is to make North America more like the European Union. [CNN Anchor Lou] DOBBS: Americans must think that our political and academic elites have gone utterly mad at a time when three-and-a-half years, approaching four years after September 11, we still don't have border security. And this group of elites is talking about not defending our borders, finally, but rather creating new ones. It's astonishing.

Note: This agenda is being promoted in key political forums with practically no media reporting. For one of the few media articles reporting on this important topic, click here.

Richest Are Leaving Even the Rich Far Behind
2005-06-05, New York Times
http://www.nytimes.com/2005/06/05/national/class/HYPER-FINAL.html?ex=12756240...

It is no secret that the gap between the rich and the poor has grown, but the extent to which the richest are leaving everyone else behind is not widely known. The people at the top of America's money pyramid have so prospered in recent years that they have pulled far ahead of the rest of the population. They have even left behind people making hundreds of thousands of dollars a year. The share of the nation's income earned by those in this uppermost category has more than doubled since 1980, to 7.4 percent in 2002. The share of income earned by the rest of the top 10 percent rose far less, and the share earned by the bottom 90 percent fell. Under the Bush tax cuts, the 400 taxpayers with the highest incomes - a minimum of $87 million in 2000, the last year for which the government will release such data - now pay ... taxes amounting to virtually the same percentage of their incomes as people making $50,000 to $75,000. From 1950 to 1970 ... for every additional dollar earned by the bottom 90 percent, those in the top 0.01 percent earned an additional $162. From 1990 to 2002, for every extra dollar earned by those in the bottom 90 percent, each taxpayer at the top brought in an extra $18,000. An Internal Revenue Service study found that the only taxpayers whose share of taxes declined in 2001 and 2002 were those in the top 0.1 percent. Some of the wealthiest Americans, including Warren E. Buffett, George Soros and Ted Turner, have warned that such a concentration of wealth can turn a meritocracy into an aristocracy and ultimately stifle economic growth.

Advanced vehicles demonstrate zero oil-consumption, reduced emissions
2005-05-18, Boston Globe
http://www.boston.com/cars/news/2005/may/0518_tourdesol.html

Carmakers such as Toyota and Honda can't seem to make hybrid vehicles fast enough to keep up with public interest. Interest in this new technology is growing, and one group is highlighting these technical marvels in a yearly event called the Tour de Sol. Top prize for the Monte-Carlo Rally went to a modified Honda Insight driven by Brian Hardegen, of Pepperell, who broke the 100-mile-per-gallon barrier over a 150-mile range. The car actually got 107 miles-per gallon. St. Mark's High School in Southboro, and North Haven Community School, North Haven, ME, demonstrated true zero-oil consumption and true zero climate-change emissions with their modified electric Ford pick-up and Volkswagen bus. More than 60 hybrid, electric and biofueled vehicles from throughout the US and Canada demonstrated that we have the technology today to power our transportation system with zero-oil consumption and zero climate-change emissions.

Note: If the above link fails, click here. If high school students can do it, why aren't the car companies seriously developing these technologies? And why are car manufacturers not able to keep up with demand on hybrid vehicles? For more, click here.

Merck's infant vaccine stirs new controversy
2005-03-08, Newsday/Los Angeles Times
http://www.nynewsday.com/news/health/ny-usglan084168623mar08,0,3713664.story

Merck & Co. continued to supply infant vaccine containing a mercury preservative for two years after declaring that it had eliminated the chemical. Thimerosal, which is nearly 50 percent ethyl mercury, has largely been eliminated from most routine childhood vaccines, although it is present in most flu shots. More than 4,200 parents have filed claims in the federal Vaccine Injury Compensation Program, alleging that their children suffered autism or other neurological disorders from mercury in their shots.

Halliburton operates in Iran despite sanctions
2005-03-07, MSNBC News
http://www.msnbc.msn.com/id/7119752

in January, Halliburton won a contract to drill at a huge Iranian gas field called Pars, which an Iranian government spokesman said "served the interests" of Iran. "I am baffled that any American company would want to have employees operating in Iran," says Sen. Susan Collins, R-Maine. "I would think they'd be ashamed." Halliburton says the operation — videotaped by NBC News — is entirely legal. It's run by a subsidiary called "Halliburton Products and Services Limited," based outside the U.S. In fact, the law allows foreign subsidiaries of U.S. corporations to do business in Iran under strict conditions. Other U.S. oil services companies, like Weatherford and Baker Hughes, also are in Iran. And foreign subsidiaries of NBC's parent company, General Electric, have sold equipment to Iran. For Halliburton to have done this legally, the foreign subsidiary operating in Iran must be independent of the main operation in Texas. Yet, when an NBC producer approached managers in Iran, he was sent to company officials in Dubai. But they said only Halliburton headquarters in Houston could talk about operations in Iran.

AIDS drug therapy connected to death
2004-12-15, Houston Chronicle/Associated Press
http://www.chron.com/disp/story.mpl/nation/2949734.html

Joyce Ann Hafford died without ever holding the son she had tried to save from contracting AIDS by taking an experimental drug regimen administered by government-funded researchers during her pregnancy. But even before her stunned family could grieve, the 33-year-old's death was reverberating among the government's top scientists in Washington. They quickly realized the drugs the HIV-positive woman from Memphis, Tenn., was taking likely caused the liver failure that killed her. Hafford's family members say they were never told NIH had concluded that the experimental drug regimen likely caused her death until the Associated Press gave them copies of NIH's internal case documents this month. They were left to believe Hafford had died from AIDS complications. "They tried to make it sound like she was just sick. They never connected it to the drug," said Rubbie King, Hafford's sister. NIH officials acknowledge that experimental drugs, most likely nevirapine, caused her death. The study during which Hafford died recently led researchers to conclude that nevirapine poses risks when taken over time by certain pregnant women. The family says Hafford seemed unaware of the liver risks. They even kept the bottle of nevirapine showing it had no safety warnings.

Note: If you want to understand just how corrupt and deceitful medical research doctors can be, read the stunning article on this case at this link. This article mentions the little-known fact that "a majority of HIV-positive tests, when retested, come back indeterminate or negative. In many cases, different results emerge from the same blood tested in different labs."

How Bush's grandfather helped Hitler's rise to power
2004-09-25, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/usa/story/0,12271,1312540,00.html

George Bush's grandfather, the late US senator Prescott Bush, was a director and shareholder of companies that profited from their involvement with the financial backers of Nazi Germany. Newly discovered files in the US National Archives [confirm] that a firm of which Prescott Bush was a director was involved with the financial architects of Nazism. His business dealings...continued until his company's assets were seized in 1942 under the Trading with the Enemy Act. There has been a steady internet chatter about the "Bush/Nazi" connection, much of it inaccurate and unfair. But the new documents, many of which were only declassified last year, show that even after America had entered the war...he worked for and profited from companies closely involved with the very German businesses that financed Hitler's rise to power. Remarkably, little of Bush's dealings with Germany has received public scrutiny, partly because of the secret status of the documentation involving him. But now [a] multibillion dollar legal action for damages by two Holocaust survivors against the Bush family, and the imminent publication of three books on the subject are threatening to make Prescott Bush's business history an uncomfortable issue for his grandson. Three sets of archives spell out Prescott Bush's involvement. All three are readily available, thanks to the efficient US archive system. Like his son, George, and grandson, George W, he went to Yale where he was, again like his descendants, a member of the secretive and influential Skull and Bones student society.

The Truth About the Drug Companies (Book Review)
2004-07-15, New York Review of Books
http://www.nybooks.com/articles/17244

The combined profits for the ten drug companies in the Fortune 500 ($35.9 billion) were more than the profits for all the other 490 businesses put together ($33.7 billion). Over the past two decades the pharmaceutical industry has moved very far from its original high purpose of discovering and producing useful new drugs. Now primarily a marketing machine to sell drugs of dubious benefit, this industry uses its wealth and power to co-opt every institution that might stand in its way, including the US Congress, the FDA, academic medical centers, and the medical profession itself. The great majority of "new" drugs are not new at all but merely variations of older drugs already on the market. Of the 78 drugs approved by the FDA in 2002, only 17 contained new active ingredients, and only seven of these were classified by the FDA as improvements over older drugs. [The] market would collapse virtually overnight if the FDA made approval of new drugs contingent on their being better in some important way than older drugs already on the market. Many medical schools and teaching hospitals set up "technology transfer" offices to ... capitalize on faculty discoveries. Medical school faculty entered into ... lucrative financial arrangements with drug companies, as did their parent institutions. One of the results has been a growing pro-industry bias in medical research—exactly where such bias doesn't belong. The industry ... fought the state of Maine all the way to the US Supreme Court, which in 2003 upheld Maine's right to bargain with drug companies for lower prices. This industry is taking us for a ride, and there will be no real reform without an aroused and determined public to make it happen.

Note: The above book and book review was written by Dr. Marcia Angell, former editor in chief of the prestigious The New England Journal of Medicine. For more reliable information on the health cover-up, click here.

State take from corporate income falls
2004-04-15, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2004/04/15/...

Individual Californians are shouldering an increasing percentage of the state's general fund, while the share of revenue from corporate income taxes has declined, according to a new analysis by a think tank in Sacramento. "Over time, the burden of paying for public services has, in a fairly dramatic way, shifted from businesses to individuals,'' said Jean Ross, director of the nonprofit California Budget Project in Sacramento. Ross went back more than 40 years to track how much the state derived from its three main revenue sources: personal income tax, sales tax and corporate income tax. Over time, income taxes paid by individuals have risen to fill half of the state's coffers, while corporate income taxes have fallen to about 10 percent of the take. Dan Bucks, executive director of the Multistate Tax Commission, said the decline in corporate taxes as a share of state coffers is occurring in all 47 states that levy some form of business or corporate tax. "Our data indicate that ... corporate income taxes were 9.7 percent of state revenues in 1980 and 4.9 percent in 2002,'' he said. Personal income taxes -- levied in more than 40 states -- have also risen nationwide "in a virtually straight line,'' he said. Corporations have gotten better at sheltering income from both federal and state taxes. For instance, the General Accounting Office, watchdog agency of Congress, recently reported that more than 60 percent of U.S. corporations paid no federal taxes from 1996 through 2000.

New documents show the monkey virus is present in more recent polio vaccine
2001-07-22, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2001/07/22/MN173141.DTL

A monkey virus linked to human cancers may have contaminated the oral polio vaccine for years after the U.S. government ordered manufacturers to remove it. The Chronicle reported last week that the simian virus SV40 had contaminated early polio vaccine given to millions of Americans. When health officials discovered in 1961 that SV40 caused malignant tumors in lab animals, they ordered the virus eliminated from all future vaccine. But internal memos from Lederle Laboratories, the chief producer of polio vaccine in the United States, indicate SV40 may not have been completely removed. According to one memo, SV40 was found in three of 15 lots of the oral vaccine seven months after the federal directive was issued in March 1961. Lederle released the contaminated vaccine to the public anyway, the memo shows. Scientists discovered SV40 in the Salk polio vaccine in 1960. By then as many as 30 million Americans had been given injections of the SV40-tainted polio vaccine, which was first licensed in 1955. In recent years more than 60 scientific studies have found SV40 in rare human brain, bone and lung-related cancers, the same kinds of tumors the virus caused in laboratory animals. Some scientists believe SV40 may play a role in causing those cancers. The Lederle documents, which were obtained by Philadelphia attorney Stanley Kops in litigation not related to SV40, raise the possibility the virus might have been transmitted by contaminated oral vaccine, licensed for production in 1962.

Note: There are numerous major problems with how vaccines are monitored and developed, yet the media largely fails to address this major issue. For many powerful reports from reliable sources on the dangers of vaccines, click here. For lots more, click here and here.

Trade Secrets: A Moyers Report
2001-03-29, PBS
http://www.pbs.org/tradesecrets/program/overview.html

Twenty-three years to the day after he went to work with vinyl chloride and other toxic chemicals at a plant in Lake Charles, Louisiana, Dan Ross died of a rare brain cancer. He was 46 years old, convinced that his job had killed him. His wife, Elaine, sued her husband's former employer and, over the next decade, the process of legal discovery led deeper and deeper into the inner chambers of the chemical industry and its Washington trade association. Hundreds of thousands of pages of documents were unearthed. In TRADE SECRETS: A MOYERS REPORT, journalist Bill Moyers and producer Sherry Jones investigated the Ross archive – secrets the chemical industry never intended the public to see – and discovered a shocking story. The confidential papers reveal the industry's early knowledge of vinyl chloride's dangerous effects, as well as the industry's long silence on the subject. The program also reports a much larger story. Buried in the thousands of pages of documents – minutes from board meetings, reports from industry scientists, internal memoranda – is a never-before-told account of a campaign to limit the regulation of toxic chemicals and any liability for their effects, at the same that the companies work to withhold vital information about risks from workers, the government – and the public. Over the last five decades, more than 75,000 chemicals have been produced, turned into consumer products or released into the environment. Today, every man, woman and child has synthetic chemicals in their bodies. No child is born free of them. Are they safe? Does anyone know?

Note: This article also mentions that even though Moyers never lived near a chemical plant, tests showed that his body contained a chemical soup of 84 industrial chemicals, including 31 different types of PCBs, 13 different dioxins, and pesticides such as DDT. Why are these chemicals so poorly studied and the dangerous effects hidden from us? For lots more from reliable sources on corporate corruption, click here.

Colorful Outsider Is Named No. 3 at the CIA
2001-03-17, Washington Post
http://washingtonpost.com/wp-dyn/articles/A16570-2001Mar16.html

A.B. "Buzzy" Krongard, a ... former investment banker ... was named yesterday executive director of the CIA, bringing a fast-paced management style to the agency's No. 3 job. Central Intelligence Agency Director George J. Tenet announced the appointment, saying he treasures Krongard's "wise counsel and 'no-nonsense' business-like views." Krongard, 64, former head of Alex. Brown & Co., an investment bank based in Baltimore, joined the agency three years ago as a counselor to Tenet. He switched careers shortly after helping engineer the $2.5 billion merger of Alex. Brown and Bankers Trust New York Corp., gaining $71 million in Bankers Trust stock. Few of his former colleagues were surprised by his decision to trade a $4 million salary and stock options for the far less remunerative job of Tenet's consigliere. A graduate of Princeton and the University of Maryland Law School, Krongard has a fondness for extreme military-style activities. Even as a banking executive, he trained with police SWAT teams for recreation and worked out with a kung fu master. He maintained a shooting range on the park-like grounds of his home on the northern edge of Baltimore. In an interview yesterday, Krongard described his past duties as those of a "minister without portfolio" whom senior managers felt comfortable talking to about "sticky subjects." But Krongard exhibited the requisite secretiveness when asked to explain his interest in intelligence and how he came to land a job in Tenet's inner circle. If you go back to the CIA's origins during World War II in the Office of Strategic Services, he explained, "the whole OSS was really nothing but Wall Street bankers and lawyers."

Note: Buzzy Krongard was the executive director of the CIA on 9/11. His past ties to the investment firm which placed most of the extraordinarily high volume of "put options" on United and American Airlines stocks the week before the attacks is one of many strange "coincidences" unexplained by the official story of what happened on that horrific day. For more on this, click here. To read the entire article free of charge, click here.

Who pulls the strings?
2001-03-10, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/books/2001/mar/10/extract1

So this is how it works. A tiny, shoe-string central office in Holland decides each year which country will host the next meeting. Each country has two steering committee members. They call up Bilderberg-friendly global corporations, such as Xerox or Heinz or Fiat or Barclays or Nokia, which donate the hundreds of thousands of pounds needed. They do not accept unsolicited donations from non-Bilderberg corporations. Nobody can buy their way into a Bilderberg meeting, although many corporations have tried. Then they decide who to invite - who seems to be a "Bilderberg person". The notion of a Bilderberg person hasn't changed since the earliest days, back in 1954. The guests are expressly asked not to give interviews to journalists. There are two morning sessions and two afternoon sessions. While furiously denying that they secretly ruled the world, my Bilderberg interviewees did admit to me that international affairs had, from time to time, been influenced by these sessions. This is how Denis Healey described a Bilderberg person to me: "To say we were striving for a one-world government is exaggerated, but not wholly unfair. Bilderberg is a way of bringing together politicians, industrialists, financiers and journalists. Politics should involve people who aren't politicians."

Note: For lots more on the highly secretive Bilderberg meeting from two later BBC News article, click here. For many other revealing articles from major media reports on secret societies and secret meetings of the most rich and powerful people in our world, click here.

We must stop this corporate takeover of American democracy
2012-01-20, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/commentisfree/cifamerica/2012/jan/20/us-constitutio...

The corporate barbarians are through the gate of American democracy. Not satisfied with their all-pervasive influence on our culture, economy and legislative processes, they want more. They want it all. Two years ago, the United States supreme court betrayed our Constitution. In its now infamous decision in the Citizens United case, five justices declared that corporations must be treated as if they are actual people under the Constitution when it comes to spending money to influence our elections, allowing them for the first time to draw on the corporate checkbook – in any amount and at any time – to run ads explicitly for or against specific candidates. What's next … a corporate right to vote? When the supreme court says ... that corporations are people, that writing checks from the company's bank account is constitutionally-protected speech and that attempts by the federal government and states to impose reasonable restrictions on campaign ads are unconstitutional, our democracy is in grave danger. Corporations are not people with constitutional rights equal to flesh-and-blood human beings. Corporations are subject to regulation by the people.

Note: For key reports on the overpowering influence of corporate money on the US political system, click here and here.

Japan declares Fukushima Daiichi nuclear plant stable, in ‘cold shutdown’
2011-12-16, Washington Post
http://www.washingtonpost.com/world/asia_pacific/japan-declares-fukushima-dai...

The Japanese government [has] declared that the Fukushima Daiichi nuclear plant had reached a stable state known as “cold shutdown.” But the formal status change at the plant, experts cautioned, means only that its problems have become less dire; they have not disappeared. The plant still leaks radiation into the sea. Its makeshift cooling system is vulnerable to earthquakes. And the cleanup work remains dangerous, with many flooded and debris-strewn areas of the reactor buildings difficult even for robots to access. In normal circumstances, a reactor in cold shutdown mode is entirely stable, its fuel intact, with no chance of a chain reaction. To achieve its version of a cold shutdown at Fukushima Daiichi, ... Japan had to loosen the definition. Fukushima now meets the government’s requirements because temperatures at the bottom of the three damaged reactor pressure vessels have dropped below 100 degrees Celsius (212 degrees Fahrenheit). Airborne leaks into the environment have also been almost halted. The declaration poses new questions for many of the 80,000 people who fled towns around the plant ... since the government had made the cold shutdown a precondition for even considering reopening parts of the no-go zone to residents. Many areas within the no-entry zone — a 12-mile radius around the plant — will be uninhabitable for decades, maybe longer.

Note: For further information on the claim of "cold shutdown" at Fukushima, click here and here.

Silicon Valley firms dodging taxes, report says
2011-12-15, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/12/14/MN9C1MCI25.DTL

Silicon Valley technology firms that are lobbying Congress to slash taxes on money they bring home from abroad, arguing that doing so would help them create millions of jobs, already send more than half that money back to the United States without paying taxes, according to a Senate investigation. The corporate tax code permits Google, Cisco, Apple, Adobe Systems, Oracle and other U.S. multinational corporations surveyed to invest nearly $250 billion in the United States without paying the 35 percent corporate tax rate that applies to repatriated foreign earnings, according to the report by the Senate's Permanent Subcommittee on Investigations. The corporations, which are not allowed to invest the money in their own companies, can escape the 35 percent tax if they invest in other domestic assets, such as stocks, bonds and bank deposits. Silicon Valley's technology giants have banded together with pharmaceutical companies and other multinationals in the Win America Coalition in an attempt to get Congress to cut their tax rate from 35 percent to just over 5 percent on overseas earnings they bring home. The survey data showed that Adobe, Apple, Broadcom, Cisco and Google have invested 76 to 100 percent of their foreign earnings in U.S. stocks, bonds, bank deposits and other domestic assets, a greater share than the other companies surveyed.

Note: For lots more on corporate and government corruption, click here and here.

L.A. calls for end to 'corporate personhood'
2011-12-06, Los Angeles Times blog
http://latimesblogs.latimes.com/lanow/2011/12/corporate-personhood-la-constit...

At a packed City Council meeting ... Los Angeles lawmakers Tuesday called for more regulations on how much corporations can spend on political campaigns. The vote in support of state and federal legislation that would end so-called "corporate personhood” is largely symbolic. The council resolution includes support for a constitutional amendment that would assert that corporations are not entitled to constitutional rights, and that spending money is not a form of free speech. City Council President Eric Garcetti, the resolution's sponsor, said such actions are necessary because “big special interest money” is behind much of the gridlock in Washington. He blamed a 2010 U.S. Supreme Court decision, Citizens United vs. the Federal Election Commission, which rolled back legal restrictions on corporate spending on the grounds that political speech by a business entity should receive the same 1st Amendment protections that people do. It allows corporations and other groups to spend unlimited money on behalf of candidates. Councilman Richard Alarcon, who also supported the resolution, said corporations are “trying to take over every aspect of our lives.” “Corporations are at the wheel of America,” Alarcon said. “And they are driving us to destruction.”

Note: Why was this key decision only reported in a blog and hardly covered by the media elsewhere? To understand how the media controls public debate, as reported by top journalists, click here.

Tech titans lobby Congress for giant tax break
2011-11-25, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/11/24/MNPO1M2LGM.DTL

Silicon Valley's tech titans are in full holiday mode - tax holiday that is. Google, Apple, Oracle, Cisco and other multinationals have fielded more than 160 lobbyists and consultants - including, according to Bloomberg Businessweek, 60 insiders such as Karen Olick, former chief of staff for Sen. Barbara Boxer, D-Calif. - to get Congress to give them a giant tax break on their overseas profits. U.S. multinationals currently have $1.4 trillion parked offshore. Banded together with pharmaceutical companies and other multinationals in a group called the Win America coalition, Bay Area technology giants say that slashing their tax rate from 35 percent to 5.25 percent on foreign profits they return or "repatriate" to the United States will create millions of jobs. Both parties in Congress, desperate to find something they can agree on to goose the economy, are warming to the idea. But the last time a holiday was tried in 2004, under a law Boxer sponsored, billions of dollars in tax breaks went to a tiny swath of multinationals concentrated in the technology and pharmaceutical industries, many studies found. Most of the money went to dividends, stock buybacks and executive pay, despite express prohibitions. Some companies, such as Hewlett Packard, cut jobs after repatriating earnings, while boosting executive pay.

Note: A Forbes magazine article states "most profitable corporations enjoy a far lower tax rate than you do," yet now they want even more tax breaks. And did you know that before 1913, except for a period during the Civil War, there was no personal income tax on the general public in the U.S.?

$3 billion settlement expected in GlaxoSmithKline drug-marketing probe
2011-11-03, Washington Post
http://www.washingtonpost.com/business/economy/3billion-settlement-expected-i...

The British drugmaker Glaxo-SmithKline has tentatively agreed to pay the U.S. government $3 billion to settle multiple civil and criminal investigations, the largest settlement in the federal government’s recent crackdown on the pharmaceutical industry’s marketing practices. If the deal is finalized, it will mark the latest success in the federal government’s push to rein in drug companies’ promotional efforts. Of the 165 settlements reached between pharmaceutical companies and federal and state governments in the past two decades, about three-quarters took place between 2006 and 2010, according to a report by Public Citizen. Before the Glaxo agreement, the largest federal settlements took place in 2009: Pfizer paid $2.3 billion to settle federal investigations tied to the promotion of the anti-inflammatory drug Bextra and other drugs, and Eli Lilly & Co. paid $1.4 billion related to the marketing of the antipsychotic drug Zyprexa. Still, consumer advocates said the penalties are not enough. “The size of the penalties, although large, are not as large as the money [the drug companies] make and so they keep doing it over again,” said Sidney M. Wolfe, director of Public Citizen’s health research group. “The only way this is going to stop, or get reversed, is to greatly increase the size of the penalties or to start sending some of the executives to jail.”

Note: For insight into corruption in the pharmaceutical industry, click here.

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