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Economy

Sen. Kyrsten Sinema speaks on the phone at the U.S. Capitol

'A Lot Better Than Build Back Better': Big Business Relieved as Dems Go Light on Tax Hikes

One progressive tax expert said the Inflation Reduction Act "cannot be the final chapter in the fight against profit-shifting and offshoring practices by large corporations."

Jake Johnson ·

A mobile billboard criticizing Sen. Kyrsten Sinema (D-Ariz.) is seen in Washington, D.C. on August 8, 2022.

Sinema Received Over $500K From Private Equity Before Shielding Industry From Tax Hikes

"Remember the days when taking half a million bucks from an industry, and then passing legislation that only benefits that industry, while passing the costs onto everyone else, would be called corruption?" asked one critic. "Today it's just lobbying as usual."

Kenny Stancil ·

Ed Markey Celebrates Passage of the Inflation Reduction Act

Senate Barely Approves Scaled Back Legislation on Climate, Taxes, Healthcare

But thanks to Senator Kyrsten Sinema (D-AZ), there was a huge, last-minute win for the private equity and hedge fund industries

Common Dreams staff ·

doctor visit

98 Million in US Skipped Treatment or Cut Back on Essentials to Pay for Healthcare This Year

"People have been making trade-offs to pay for healthcare for years. Inflation has only made things worse as people are also now struggling with the high price of gas, food, and electricity," said the president of West Health, which conducted the new poll with Gallup.

Jessica Corbett ·

Fed Chair Jerome Powell speaks at a press conference

Fears of More Recessionary Fed Rate Hikes as Jobs Numbers Smash Expectations

"A recession caused by the Fed raising rates too aggressively would undo a great deal of the enormous gains that have occurred in the current recovery," warned one economist.

Jake Johnson ·

flickr_market

No, The Market Won't Sort It Out

The market is not the go-to solution to the major problems of our age.

John Feffer ·

Jamaal Bowman

Bowman Introduces Bill to Help People 'Crushed by the Burden of High Prices'

"People cannot afford to live in America today," the New York progressive said while unveiling his anti-price gouging legislation, "and our government needs better tools to respond."

Brett Wilkins ·

loretto-hospital

How Public Real Estate Investment Trusts Extract Wealth from Nursing Homes and Hospitals

Real Estate Investment Trusts (REITs) are considered "passive" investors and are exempt from corporate tax. But in reality, they play a very active role in reshaping whole industries, like healthcare.

Eileen Appelbaum ·

valero

The Fed Should Not Punish Working People for Inflation Driven by Big Oil's Greed

Interest rate hikes are a blunt and imprecise tool that won't tackle current sources of inflation, particularly our overdependence on volatile fossil fuels. The best way forward is to shift finance away from fossil fuels, and jump-start a transition to renewable energy.

Akiksha Chatterji ·

starbucks-union

Steps Biden Should Take to Rein in Excessive CEO Pay

The president has the power to use federal contracting standards to encourage pay equity and respect for labor rights at companies like Amazon.

Sarah Anderson ·

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