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" "Fundamentally I argue in Free Lunch what's happened is, that a narrow segment of our society, large corporations which are immortal and amoral... They're necessary, they're important, they are great producers of wealth, but there's reasons that you want to regulate and control entities that are both amoral; their purpose is to maximize return to capital, which is a perfectly good thing to do, but they have no other obligation... [T]hey are immortal. Unless they mess up in the marketplace they go on forever, unlike you and I... Unless we have rules that govern their conduct, they can do enormous damage to our society; and we have had a massive effort to collect subsidies from the government, to get rid of government employees and replace them with private sector workers who typically cost twice as much. So the federal work force has gone down... but the number of people who are paid by the federal government to work is going up; and the cost per... labor-hour is going up enormously. ...Unlike creating a bureaucracy ...empire-building bureaucrats, now you have a corporation that makes campaign contributions to encourage more of this ...and more contracts and... money flowing their direction.
(born December 24, 1948) is an American investigative journalist and author specializing in economics and tax issues. He won the 2001 , and from 2009 to 2016 he was a Distinguished Visiting Lecturer at Syracuse University, Martin J. Whitman School of Management and College of Law, teaching tax, property, and regulatory law of the ancient world. From 2011 to 2012 he was a columnist for , writing, and producing video commentaries on worldwide issues of tax, accounting, economics, public finance and business. In recent years he has also written for and , and is the board president of , Inc. (IRE).
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[I]f Reaganism worked, if Bush's tax cuts worked, America today would be swimming in jobs. That's what we were promised. It would lead to all this investment and all these jobs. Instead, it's led to this enormous concentration of wealth among people who could never consume that much wealth, and who now increasingly are putting it into financial products, rather than investing it in ways that will grow the economy. ...[W]e're socking it away ...American corporations, under a rule almost nobody knows about ...are limited in how much cash they can hold, unless they move it overseas. ...[O]nce you move if overseas they can have ...unlimited amounts of cash, and what have we seen happen? ...Corporations have almost 3 times as much cash overseas as they have at home, and they then take that cash and buy US treasuries. So we pay big corporations to not pay their taxes. ...The interest they will earn from the treasury will exceed the value of the tax, and we will collect 40 cents on the dollar or less of the actual tax. ...Literally it has become a profit center ...
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[H]e brought into the White House a host of people with fringe ideas, some of them Islamophobes... white nationalists... xenophobes, and many... sharing Trump's ignorance of science. ...[M]any ...had no qualifications ...for the posts ...he got the advice and consent of ...senators despite testimony revealing some as ...know-nothings and one ...determined to destroy the agency he now runs.