May, 15 2020, 12:00am EDT
WASHINGTON
The American Economic Liberties Project released the following statement in response to reporting from the Wall Street Journal, which indicates the Department of Justice and a group of state attorneys general are likely to file antitrust lawsuits against Google:
"An antitrust case against Google is long overdue," said Economic Liberties Executive Director Sarah Miller."We hope that state attorneys general and the Department of Justice Antitrust Division address the long-standing monopoly power of Google, which has more than 90% of the mobile search market and, alongside Facebook, dominates digital advertising."
Economic Liberties' Sarah Miller, Matt Stoller, and Zephyr Teachout recently published "Addressing Facebook and Google's Harms Through a Regulated Competition Approach," a new paper that explains how Facebook and Google developed business models toxic to democracy, civil rights, and public health, and breaks down a series of solutions to rein in big tech.
A list of Google's publicly-disclosed acquisitions through 2019 is below.
- February 2001: Deja
- September 2001: Outride
- February 2003: Pyra Labs
- April 2003: Neotonic Software, Applied Semantics and Kaltix
- October 2003: Sprinks and Genius Labs
- May 2004: Ignite Logic
- July 2004: Picasa
- September 2004: ZipDash
- October 2004: Where 2 Technologies and Keyhole
- March 2005: Urchin Software Corp
- May 2005: Dodgeball
- July 2005: Reqwireless
- August 2005: Android
- November 2005: Skia and Akwan Information Technologies
- December 2005: Phatbits, allPAY GmbH and bruNET GmbH
- January 2006: dMarc Broadcasting
- February 2006: Measure Map
- March 2006: Upstartle and "@" Last Software
- April 2006: Orion
- June 2006: 2Web Technologies
- August 2006: Neven Vision and Youtube
- October 2006: JotSpot
- December 2006: Endoxon
- February 2007: AdScape
- March 2007: Trendalyzer
- April 2007: DoubleClick, Tonic Systems and Marratech video conference software
- May 2007: GreenBorder and Panoramio
- June 2007: FeedBurner, PeaksStream, Zenter and GrandCentral
- July 2007: Postini and ImageAmerica
- September 2007: Zingku
- October 2007: Jaiku
- July 2008: Begun and Omnisio
- September 2008: TNC
- August 2009: On2, reCAPTCHA and Eluceon Research
- November 2009: AdMob, Gizmo5, Teracent and AppJet
- February 2010: Aardvark
- February 2010: reMail
- March 2010: Picnik, DocVerse and Episodic
- April 2010: PinkArt, Agnilux, LabPixies and BumpTop
- May 2010: Global IP Solutions, Simplify Media, Ruba.com, Invite Media and Instantiations
- July 2010: Metaweb
- August 2010: Slide.com, Jambool, Like.com, Angstro and SocialDeck
- September 2010: Plannr, Quiksee and MentorWave Technologies
- October 2010: BlindType
- December 2010: Phonetic Arts, Widevine Technologies and Zetawire
- January 2011: eBook Technologies, SayNow and Motorola Mobility (SOLD 2013)
- March 2011: BeatThatQuote.com, Next New Networks, Green Parrot Pictures, Zynamics
- April 2011: PushLife, ITA Software and TalkBin
- May 2011: 510 Systems, Anthony Robots, Modu and Sparkbuy
- June 2011: PostRank, Admeld, and Sage TV
- July 2011: Punchd, Fridge, PittPatt
- August 2011: Dealmap
- September 2011: Zave Networks, Zagat, DailyDeal
- October 2011: SocialGrapple
- November 2011: Apture and Katango
- December 2011: RightsFlow and Clever Sense
- March 2012: Milk
- April 2012: TxVia
- June 2012: Meebo and Quickoffice
- July 2012: Sparrow, Wildfire Interactive and Cuban Council
- September 2012: VirusTotal.com and Nik Software
- November 2012: Incentive Targeting and Bufferbox
- January 2013: Schaft, Industrial Preception, Redwood Robotics, Meka Robotics, Holomni, Bot & Dolly, and Autofuss
- March 2013: Channel Intelligence, DNNresearch, and Talaria Technologies
- April 2013: Behavio and Wavii
- May 2013: Makani Power and MyEnergy (SHUT DOWN)
- June 2013: Waze
- August 2013: WIMM Labs
- September 2013: Calico, and Bump
- October 2013: Flutter and FlexyCore
- January 2014: Bitspin, Imprermium and DeepMind Technologies
- February 2014: Nest, SlickLogin, spider.io
- March 2014: GreenThrottle
- April 2014: Titan Aerospace
- May 2014: Rangespan, Adometry, Appetas, Stackdriver, Quest Visual, and Divide
- June 2014: mDialog, Aplental Technologies, Baarzo, and Appurify
- July 2014: Dropcam, Songza and drawElements
- August 2014: Skybox Imaging, Emu, Directr, Jetpac, Gecko Design, and Zync Render
- September 2014: Lift Labs, Polar and Input Factory
- October 2014: Agawi, Firebase, Dark Blue Labs, Vision Factory and Revolv
- November 2014: Lumedyne Technologies and RelativeWave
- December 2014: Vidmaker
- January 2015: Granata Decision Systems
- February 2015: Launchpad Toys, Odysee, Softcard and Red Hot Labs
- April 2015: Thrive Audio and Skillman & Hackett
- May 2015: Timeful and Pulse.io
- July 2015: Pixate
- September 2015: Oyster and Jibe Mobile
- October 2015: Digisfera
- November 2015: Fly Labs and Bebop
- February 2016: BandPage and Pie
- May 2016: Synergyse
- June 2016: Webpass
- July 2016: Moodstocks, Anvato, Kifi and LaunchKit
- August 2016: Orbitera and Apportable
- September 2016: Urban Engines and Api.ai
- October 2016: Apigee, FameBit and Eyefluence
- November 2016: LeapDroid and Qwiklabs
- December 2016: Cronologics
- January 2017: Crashlytics and Fabric
- March 2017: Kaggle and AppBridge
- May 2017: Owlchemy Labs
- July 2017: Halli Labs
- August 2017: AIMatter and Senosis
- September 2017: Bitium
- October 2017: Relay Media and 60db
- November 2017: Banter
- January 2018: Limes Audio AND htc cORPORATION
- February 2018: Xively
- March 2018: Lytro Tenor
- May 2018: Velostrata and Cask
- August 2018: GraphicsFuzz
- October 2018: Onward
- November 2018: Workbench and rEDUX
- December 2018: Where is My Train and Sigmoid Labs
- January 2019: Superpod
- February 2019: Alooma
- March 2019: Nightcorn
- June 2019: Looker
- July 2019: Elastifile
- October 2019: Socratic
- December 2019: Typhoon Studios
Learn more about Economic Liberties here.
LATEST NEWS
'Dirty and Dumb!' Trump May Cancel Contracts to Electrify USPS Fleet
"It's stuff like this that will cost us manufacturing jobs/opportunities," warned one critic.
Dec 06, 2024
As part of President-elect Donald Trump's mission to roll back the Biden administration's climate policies, the Republican may cancel contracts to electrify the U.S. Postal Service's fleet, Reutersrevealed Friday, citing unnamed sources familiar with transition team discussions.
"The sources told Reuters that Trump's transition team is now reviewing how it can unwind the Postal Service's multibillion-dollar contracts, including with Oshkosh and Ford for tens of thousands of battery-driven delivery trucks and charging stations," according to the news agency.
The USPS in December 2022 announced a five-year $9.6 billion investment that involved electrifying 75% of its next-generation delivery vehicles and installing modern charging infrastructure. That came just months after President Joe Biden signed the Inflation Reduction Act, which included $3 billion in funding for the endeavor.
Ford did not respond to Reuters' requests for comment on Friday, while Oshkosh said that it "is fully committed to our strong partnership with the USPS and looks forward to continuing to provide our postal carriers with reliable, safe, and sustainable modern delivery vehicles, even as USPS' needs continue to evolve."
The USPS also did not respond to requests for comment and Trump transition team spokesperson Karoline Leavitt declined to address his Postal Service plans, only saying that "President Trump will protect the freedom of Americans to drive whichever vehicle they choose, enhance his tough tariffs on Chinese-imported cars, and save the U.S. auto industry for generations to come. No policy should be deemed official unless it comes directly from President Trump."
During the campaign, Trump pledged to roll back Biden's climate policies if Big Oil poured $1 billion into getting him elected. He also attacked the Democrat's efforts to promote a shift to electric vehicles (EVs). Transportation accounts for the largest portion of all U.S. greenhouse gas emissions and the United States is the world's top historic emitter.
Even under Biden, U.S. plans to limit planet-heating pollution did not align with the country's contributions to the fossil fuel-driven climate emergency—but climate scientists and advocates widely backed his and later Vice President Kamala Harris' campaign leading up to last month's election, recognizing the threat posed by Trump.
John Hanger, a Democrat who previously held various envirnomental and energy positions in Pennsylvania's government, responded to the Reuters reporting on social media: "Ugh! Canceling contracts to electrify transportation of USPS would be dirty and dumb!"
Meanwhile, Scott Paul, president of the Alliance for American Manufacturing, said that "it's stuff like this that will cost us manufacturing jobs/opportunities."
Some critics also speculated whether such contracts may be redone to benefit Tesla. The company's CEO is Elon Musk, who is the richest man in the world, dumped around $270 million into super political action committees backing Trump's reelection bid, and is set to co-lead his forthcoming Department of Government Efficiency (DOGE) with fellow billionaire Vivek Ramaswamy.
Last month, Reuters reported on the Trump transition team's plans to kill Biden's fuel efficiency standards and a $7,500 consumer tax credit for EV purchases, which Musk was asked about while he and Ramaswamy were on Capitol Hill Thursday to meet with Republican lawmakers.
"I think we should get rid of all credits," Musk told reporters—despite his own company's reliance on Biden's EV policies.
Responding to Musk's comment in a Friday statement, Will Anderson, EV policy advocate with Public Citizen's Climate Program, said that "as someone who's asking to work for the American people through his so-called DOGE, Musk should not perpetuate crony capitalism that only benefits himself and others with access to Trump."
"If we want the American automobile industry to stay competitive in a global market," he added, "then not only should Musk recognize the benefit of the EV tax credit for American-made vehicles, but he should also recognize the negative impact billions of dollars in continuing oil and gas subsidies will have on a society that needs to transition to a zero-emission and clean-energy future."
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Millions of Americans could lose coverage if the GOP allows the Affordable Care Act's enhanced premium tax credits to expire.
Dec 06, 2024
As Congress negotiates the extension of Affordable Care Act tax credits, a nonpartisan government analysis warned this week that letting the ACA subsidies expire next year would cause millions of Americans to lose health coverage in the years ahead.
The American Rescue Plan Act "reduced the maximum amount eligible enrollees must contribute toward premiums for health insurance purchased through the marketplaces established by the Affordable Care Act, and it extended eligibility to people whose income is above 400% of the federal poverty level," wrote Congressional Budget Office (CBO) Director Phillip Swagel.
His Thursday letter came in response to an inquiry from U.S. Sens. Jeanne Shaheen (D-N.H.) and Ron Wyden (D-Ore.) along with Reps. Richard Neal (D-Mass.) and Lauren Underwood (D-Ill.) about "the effects on health insurance coverage and premiums that will result from not extending—either for one year or permanently—the expanded premium tax credit structure."
"Without an extension through 2026, CBO estimates, the number of people without insurance will rise by 2.2 million in that year," Swagel said. "Without a permanent extension, CBO estimates, the number of uninsured people will rise by 2.2 million in 2026, by 3.7 million in 2027, and by 3.8 million, on average, in each year over the 2026-2034 period."
"Without an extension through 2026, CBO estimates, gross benchmark premiums will increase by 4.3%, on average, for that year," the director continued. "Without a permanent extension, CBO estimates, gross benchmark premiums will increase by 4.3% in 2026, by 7.7% in 2027, and by 7.9%, on average, over the 2026-2034 period."
"If Congress fails to act, healthcare will become out of reach for millions of Americans, leaving middle-class families to struggle and choose between seeing a doctor or keeping a roof over their heads or groceries in the fridge."
The analysis comes as the world braces for GOP control of Congress and the White House, with President-elect Donald Trump set to be sworn in next month. Since President Barack Obama signed the ACA—also known as Obamacare—in 2010, elected Republicans including Trump have repeatedly tried to gut or fully repeal the law.
In response to the CBO report, Wyden said, "This is a stark preview of healthcare under Donald Trump: higher insurance premiums for families who buy health coverage on their own, and more uninsured Americans who can't afford health insurance at all."
"Republicans have an opportunity to end their ideological crusade against the Affordable Care Act and work in a bipartisan manner to make healthcare more affordable for working families, but instead they seem poised to hand another big tax break to corporations and the wealthy," warned Wyden, the outgoing Senate Finance Committee chair.
In September, Shaheen and Underwood introduced a bill to make the ACA's enhanced premium tax credits permanent. Shaheen said Thursday that the "new data from CBO confirms what we feared: if Congress fails to extend these tax credits, healthcare costs will skyrocket for millions of families and 3.8 million Americans will lose coverage entirely."
"At a time when Americans are already facing higher prices, we should do everything we can to lower costs when and where we can," she added. "It's time we pass my Health Care Affordability Act to permanently extend the tax credits so many families rely on."
Advocacy groups echoed demands for Congress to at least extend the subsidies following the CBO's findings.
"If Congress fails to act, healthcare will become out of reach for millions of Americans, leaving middle-class families to struggle and choose between seeing a doctor or keeping a roof over their heads or groceries in the fridge," said Protect Our Care executive director Brad Woodhouse in a statement.
"Instead of helping hardworking families, Republicans have opposed measures to lower healthcare costs and have instead focused on delivering tax breaks to big corporations and the wealthiest Americans," he continued. "Health coverage gives people peace of mind knowing they won't go bankrupt over an injury or illness. Democrats stand ready to extend the tax credits to ensure everyone has access to affordable healthcare. It's time for Republicans to get on board."
While the CBO found with the expiration of the credits, "on average, those with health insurance will see their unsubsidized gross monthly premiums increase by as much as 8% each year," Anthony Wright, executive director of Families USA, pointed out that "for people who now receive premium assistance, the increases will be far steeper."
"Taking into account the cuts in premium assistance, nonpartisan organizations, such as the Center on Budget and Policy Priorities, report that people will experience estimated premium increases ranging from 41% to 218%, with a median increase of 91%—a near doubling of their monthly costs," he explained.
"For nearly 20 million Americans, these enhanced tax credits have been the difference between getting access to the healthcare and coverage they need or going without it," Wright stressed. "At a time when so many families are struggling to pay for the basics, these tax credits have been a literal lifeline for millions of people to get healthcare they can afford."
"Voters just made it clear in the 2024 election that they want action to lower costs—and so it would be cruel to have the result be inaction that allows these tax credits to expire, and monthly healthcare costs to jump," he added. "For many millions of working Americans, premiums will double. For some, the spike will be not just hundreds but thousands of dollars of additional costs, leading many millions to lose coverage altogether. Congress must protect the health and financial security of our nation's families right now by extending these critical tax credits."
Citing several unnamed sources, The Washington Postreported Friday afternoon that Democrats on Capitol Hill privately proposed a deal to extend the ACA subsidies by a year, which "accompanied a broader package of healthcare proposals submitted to Republicans on Thursday night ahead of year-end spending negotiations."
"It is not yet clear whether Republican leaders, who control the House, will agree to any of the proposals," the Post noted. "Spokespeople for Republicans on the House Ways and Means and the Senate Finance committees declined to comment."
Despite efforts to salvage the ACA subsidies due to the pain and economic suffering that would follow if they are not extended, progressives across the board continue to argue that Obamacare—which sends billions of federal dollars to the private insurance industry—is a far inferior solution compared with Medicare for All, which would cover everyone in the United States at a lower overall cost than the current system.
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The total wealth of billionaires increased by 121% from 2015-24.
Dec 06, 2024
Driven largely by the accumulation of massive wealth by the richest people in the United States, the Swiss wealth manager UBS said Thursday the assets of billionaires around the world more than doubled over the past decade.
Between 2015-24, the total wealth of billionaires increased by 121%, from $6.3 trillion to $14 trillion.
Meanwhile, the MSCI AC World Index of global equities, which measures the performance of more than 3,000 stocks from both developed and emerging markets, rose by 73%.
The planet's total gross domestic product is about $105.4 trillion, with a population of just over 8 billion, underscoring the extreme concentration of wealth among the very richest people.
The number of billionaires rose from 1,757 to 2,682 over the past decade, while the wealthiest people in the world boasted significant gains over just the past year.
Billionaires' wealth jumped by about 17% in 2024, with the accumulation of wealth among the richest people in the U.S. offsetting a decline in China.
U.S. billionaires amassed wealth gains that were 27.6% higher than the previous year, accumulating a total of $5.8 trillion—more than 40% of international billionaire wealth.
The tax cuts pushed through by President-elect Donald Trump and the Republican Party in 2017 are still in effect in the U.S. Tax policy analysts have found that the law was skewed to the rich, with households in the top 1% of incomes expecting to receive an average tax cut of more than $60,000 in 2025 compared to an average tax cut of less than $500 for people in the bottom 60%.
As Common Dreams reported this week, the top 12 U.S. billionaires now control $2 trillion. The wealth of the four richest people in the U.S.—Tesla CEO Elon Musk, Amazon founder Jeff Bezos, Oracle co-founder Larry Ellison, and Meta CEO Mark Zuckerberg—has hit $1 trillion.
"These four men were worth $74 billion 12 short years ago," said Americans for Tax Fairness. "Tax billionaires."
At the G20 Summit last month, world leaders agreed to "engage cooperatively to ensure that ultra-high-net-worth individuals are effectively taxed."
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