capitalism
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- utopian2
The level of sneakiness with Americans hiding money abroad is staggering.
Whether dodging taxes or legal peril, wealthy Americans often succeed in concealing assets from the government by hiding their money in offshore bank accounts.
Research from the IRS and a group of economists last year found that the top 1% of earners in the U.S. neglect to report 20% of their income — and that random audits almost never detect offshore accounts.
“The level of sneakiness around very wealthy American clients hiding their money abroad is kind of staggering,” best-selling author Patrick Radden Keefe told Yahoo Finance’s editor-in-chief in a new episode of "Influencers with Andy Serwer."
- utopian2
Hyundai subsidiary has used child labor at Alabama factory
Underage workers, in some cases as young as 12, have recently worked at a metal stamping plant operated by SMART Alabama LLC, these people said. SMART, listed by Hyundai in corporate filings as a majority-owned unit, supplies parts for some of the most popular cars and SUVs built by the automaker in Montgomery, its flagship U.S. assembly plant.
- Good that they are finally trying to compete with the Chinese by using child labour.PhanLo
- A father and his family were desperate for income so his 3 kids got work at the plant through a dodgy employment company to make their lives better. They are...Morning_star
- ...now in school and the father realises his error. Not entirely sure Hyundai has much to do with this at all.Morning_star
- Correct. Hyundai has no connection to the company they use to manage hires, and isn’t responsible whatsoever for who they hire or if it’s legal. Derp derp.monospaced
- Well done Mono, missed the point entirely, again.Morning_star
- Nope. Just helping you with yours.monospaced
- I get your point. I’m not an idiot. They needed money and worked for it. Good for them. But Hyundai is responsible that is my point.monospaced
- shapesalad0
A story we’ve all been told 1000+ times before:
Someone is sad.
They buy something.
They are happy.
- It’s called an advert.shapesalad
- Pretty harmful narrative to be drilled into us.shapesalad
- DopamineNBQ00
- You can get the same squirt by making or finding something. Things often improve our livesscarabin
- Money does create happiness. Anyone who says otherwise is full of shit.monospaced
- PhanLo4
- That’s a more terrifying future than being enslaved by AI.NBQ00
- them employees seen to enjoy themselvesmilfhunter
- utopian6
How America's opioid industry operated like a drug cartel.
It's estimated that more than 107,000 people in the United States died due to opioid overdoses in 2021. Washington Post journalist Scott Higham notes it's "the equivalent of a 737 Boeing crashing and burning and killing everybody on board every single day."
In the new book, American Cartel, Higham and co-author Sari Horwitz make the case that the pharmaceutical industry operated like a drug cartel, with manufacturers at the top; wholesalers in the middle; and pharmacies at the level of "street dealers." What's more, Higham says, the companies collaborated with each other — and with lawyers and lobbyists — to create legislation that protected their industry, even as they competed for market share.
"Most people think it's the political parties that run the show or it's the White House that runs the show, but it really is the companies that run the show," Higham says. "People were dying by the thousands while these companies were lobbying members of Congress ... to pass legislation and to lobby members of the Department of Justice and try to slow down the DEA enforcement efforts."
- Damn. I had no idea about those numbers. Fucking horrible. Worse than a cartel.formed
- utopian2
A forensic economist testified that Alex Jones began funneling $11,000 per day into an alleged shell company around the time he was found liable by default in defamation suits.
- utopian-1
- utopian0
Real Estate CEO Pro-Recession If It Benefits Employers
THE CEO AND president of Douglas Emmett Inc., a real estate corporation worth over $3 billion and based in Santa Monica, California, said on an August 2 corporate earnings call that a recession could be “good” for the commercial real estate business “if it comes with a level of unemployment that puts employers back in the driver seat and allows them to get all their employees back into the office.” The executive, Jordan Kaplan, then repeated that “the thought would be that unemployment would be up. And therefore, employers would be in the driver seat to bring people back in the office, which is where they want them.”
