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February 12, 2016
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Dark Hope

By David Shulman
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Tag: Money


Let’s Ask Obama to Give This Speech Next

It’s time for the president to make federal contractors disclose their political spending.

Posted on Jan 29, 2016 READ MORE



The Devastating Cost of Monetized Elections

When money rules, democracy loses. “Commercializing elections leads to an astonishing similarity among reporters traveling with candidates or those asking questions during so-called debates,” writes consumer advocate Ralph Nader.

Posted on Jan 23, 2016 READ MORE


VIDEO: Dark Money: How Billionaires Are Buying U.S. Elections

Billionaires have found a shady way to secretly finance candidates through nonprofits.

Posted on Jan 22, 2016 READ MORE



What to Expect From the U.S. Economy in 2016—Hint: Does the Word ‘Recession’ Ring a Bell?

Economic forecasters exist to make astrologers look good, but this economist will hazard a guess.

Posted on Jan 10, 2016 READ MORE



Why Small Debts Matter So Much To Black Lives

Due to the racial wealth gap, black families have far less in savings than whites. The consequences can be far-reaching and often severe.

Posted on Jan 3, 2016 READ MORE



What’s at Stake This Election Year? Ending the Vicious Cycle of Wealth and Power

The United States has succumbed to a vicious cycle in which great wealth translates into political power, which generates even more wealth and even more power.

Posted on Jan 3, 2016 READ MORE



New York City Lets Luxury Building Owners Stiff Workers and Still Get a Tax Break

City regulators haven’t enforced a 2007 law that requires doormen, janitors and other service workers at taxpayer-subsidized apartment buildings to be paid wages comparable to union rates.

Posted on Dec 31, 2015 READ MORE



How America’s Wealthiest Are Saving Billions Through a Private Tax System

Part of the so-called “income defense industry,” the system involves highly paid tax lawyers, estate planners, anti-tax activists and lobbyists who work in tandem to devise the best strategies for super-rich individuals to save on taxes.

Posted on Dec 30, 2015 READ MORE



The 10 Best 2015 Investigative Reports on Political Money

Some of the year’s most notable in-depth stories on campaign finance, from newsrooms around the country.

Posted on Dec 29, 2015 READ MORE



One-Quarter of Americans Earning $100,000 or More Say They’re Struggling

It may be difficult to sympathize with, but many Americans earning six-figure incomes are living paycheck to paycheck.

Posted on Dec 26, 2015 READ MORE



Have We Hit Peak Inequality?

These 400 billionaires are wealthier than 190 million of their fellow Americans.

Posted on Dec 13, 2015 READ MORE



Minimum Wage Is Not a Livable Wage

Mr. Trump, take it from someone who has lived most of her life below the poverty line: Minimum wage is a starvation wage for many low-income individuals and families.

Posted on Dec 11, 2015 READ MORE



20 U.S. Billionaires Now Own as Much Wealth as Half of All Americans

A new report reveals that the real wealth gap in America is not between the 1 percent and the 99 percent, but between the .0001 percent and everybody else.

Posted on Dec 4, 2015 READ MORE



VIDEO: John Oliver Exposes the Shady Dealings of Daily Fantasy Sports Websites

Daily fantasy sports companies keep trying to pretend that their sites don’t peddle gambling, but the “Last Week Tonight” host disagrees—hilariously.

Posted on Nov 16, 2015 READ MORE


VIDEO: How Islamic State Made Its Billions

This fascinating and informative video from Channel 4 News in the United Kingdom explains how Islamic State is using cash from oil, extortion, taxation and robbery to pay for jihad.

Posted on Nov 9, 2015 READ MORE



First They Jailed the Bankers. Now All Icelanders Will Get a Payout From Bank Sale.

Iceland’s revolutionary approach to dealing with the international financial meltdown of 2008 certainly deserves every bit of the attention it has garnered.

Posted on Nov 9, 2015 READ MORE



An Open Letter to Fed Chairwoman Yellen From America’s Beleaguered Savers

“Start imagining what we, the savers, have to endure because of plutocratic, crony capitalism for which the Federal Reserve has long been a leading Tribune.”

Posted on Oct 31, 2015 READ MORE


Rent Too Damn High

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Posted on Oct 30, 2015 READ MORE


VIDEO: Stephen Colbert Dares Donald Trump to Do Something Remarkable With a Million Dollars

Donald Trump talks about a million dollars like it’s chump change. So Stephen Colbert is trying to get him to prove that the amount is a pittance to him by doing something only the “Late Show” host could’ve come up with.

Posted on Oct 29, 2015 READ MORE



More Than Half of U.S. Wage Earners Make Under $30,000 a Year, According to a Shocking New Report

Wage statistics for 2014, recently released by the Social Security Administration, provide proof of the claim we all feared was true: The middle class is disappearing.

Posted on Oct 27, 2015 READ MORE



Why Raising the Minimum Wage to $15 an Hour, Even If It Risks Job Loss, Is the Right Thing to Do

Have you noticed how often conservatives who disagree with a policy proposal call it a “job killer”? Yet maybe some jobs are worth risking if a strong moral case can be made—and on this issue, as with many others historically, it can.

Posted on Oct 19, 2015 READ MORE



Half of World’s Wealth Now Owned by 1 Percent of Population

A new report by Credit Suisse reveals worldwide inequality to be growing even faster than experts had predicted.

Posted on Oct 14, 2015 READ MORE



Here’s How We Know Cheap Renewable Energy Is Taking the World by Storm (Video)

The Paris-based International Energy Agency estimates that in just five years, by 2020, slightly over one quarter (26 percent) of all the electricity being generated in the world will come from renewables.

Posted on Oct 11, 2015 READ MORE



What Can Be Done Right Now to Fix the Legal System for Debt Collection

America’s out-of-date, unfair laws for collecting debts could be dramatically improved through these simple steps.

Posted on Oct 11, 2015 READ MORE



Where Do Hillary Clinton and Bernie Sanders Really Stand on Economic Reform?

Giant Wall Street banks continue to threaten the wellbeing of millions of Americans, but what to do?

Posted on Oct 9, 2015 READ MORE


VIDEO: Why Student Loan Debt Isn’t Just a Problem for Millennials

America’s student loan debt is now over $1.2 trillion. But it’s not just hurting millennials. One-third of that debt belongs to people in their 40s.

Posted on Oct 7, 2015 READ MORE



Large U.S. Firms Hold $2.1 Trillion Overseas to Dodge Taxes

The 500 largest U.S. companies would owe an estimated $620 billion in U.S. taxes were it not for the more than $2.1 trillion in offshore cash that most of the firms hold in foreign tax havens, according to a study released this week.

Posted on Oct 7, 2015 READ MORE



Donald Trump Proves What’s Wrong With Bankruptcy Laws in America

Bankruptcy was designed so people could start over. But these days, the only ones starting over are big corporations, wealthy moguls and Wall Street bankers, who have had enough political clout to shape bankruptcy laws (like many other laws) to their needs.

Posted on Oct 4, 2015 READ MORE



VIDEO: Why We Must End ‘Upward Pre-Distributions’ to the Rich

You often hear that inequality has widened because globalization and technological change have made most people less competitive while making the best-educated more competitive. But this common explanation overlooks a critically important phenomenon.

Posted on Sep 28, 2015 READ MORE



Gender Equality Would Add 26%, or $28 Trillion, to Global GDP, Report Says

A new report reveals that even though they make up half the population, women generate just 37 percent of world GDP. The potential gain from economic gender equality would roughly equal the U.S. and Chinese economies combined.

Posted on Sep 26, 2015 READ MORE



CEO Who Raised HIV Drug Price by 5,000% Also Hiked Cost of Pill for Children With Incurable Disease

Pharmaceuticals CEO Martin Shkreli is being called the most hated man in America for raising the price of the HIV drug Daraprim from $13.50 to $750 per pill. Now his earlier pricing decisions are being examined. It is being reported that one such decision led to a 2,000 percent price increase for a medication taken by children suffering from a rare kidney disease.

Posted on Sep 23, 2015 READ MORE



Brazil’s Supreme Court Bans Corporate Contributions to Political Campaigns and Parties

The 8-3 ruling will block what has amounted to over 90 percent of campaign funding for leading candidates and eventual winners of Brazil’s recent presidential elections.

Posted on Sep 18, 2015 READ MORE


VIDEO: How Do the 2016 Presidential Candidates Get Their Money?

The 2016 campaign is proving to be the most expensive yet. Watch to find out where and how candidates are getting their cash.

Posted on Sep 16, 2015 READ MORE



Colleges With Plenty of Cash Saddle Their Poorest Students With Heaps of Debt

A ProPublica analysis of newly available federal data shows that some of the nation’s wealthiest colleges are leaving their poorest students with plenty of debt.

Posted on Sep 13, 2015 READ MORE



Prosecution of White-Collar Crime Hits 20-Year Low

In 2012, President Obama pledged to “hold Wall Street accountable” for financial misdeeds related to the financial crisis. But as financial industry donations flooded into Obama’s re-election campaign, his Justice Department officials promoted policies that critics say embodied a “too big to jail” doctrine for financial crime.

Posted on Sep 11, 2015 READ MORE



Top 5 Green Energy Breakthroughs Today (Video)

Switching to green energy sources such as wind and solar is necessary to save the planet from increased concentrations of greenhouse gases like carbon dioxide, which cause global warming. And it will also save you money.

Posted on Aug 31, 2015 READ MORE


VIDEO: The Other Side of the Hamptons: The Working Poor

Long established as a playground for the mega-rich, New York’s Hamptons see some beachfront mansions selling for $100 million, and designer boutiques jostle for space on the streets. But beyond the luxury is a side we don’t see, where low-paid workers struggle to get by and 7 percent of the population lives below the poverty line.

Posted on Aug 14, 2015 READ MORE



More Dutch Cities to Experiment With Universal Basic Income

Taking the lead from the city of Utrecht, other Dutch cities are considering social experiments with basic income—an income unconditionally granted to all its residents on an individual basis, without a means test or work requirement.

Posted on Aug 14, 2015 READ MORE



The Outrageous Ascent of CEO Pay

The Securities and Exchange Commission just ruled that large publicly held corporations must disclose the ratios of their top executives’ pay to the average pay of their workers.

Posted on Aug 10, 2015 READ MORE


Untaxed Corporate Profits

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Posted on Aug 9, 2015 READ MORE



Greece Debt Crisis: Massive Stock Plunge After Five-Week Shutdown

Ending down 16.23 percent by the end of Monday, Athens’ stock market experienced its worst daily performance since at least 1985, when modern record keeping began.

Posted on Aug 3, 2015 READ MORE



The Middle Class, Too, Is Keeping Poor Kids Back, U.K. Study Finds

A report by the Social Mobility and Child Poverty Commission in the United Kingdom found that wealthier parents hoard the best opportunities for their own children, ensuring that smarter kids who are financially disadvantaged stay put in the socioeconomic hierarchy.

Posted on Jul 28, 2015 READ MORE


The Dark Money Shark

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Posted on Jul 23, 2015 READ MORE



Why Is Venezuela Trying to Annex Two-Thirds of Neighboring Guyana?

After the discovery of a potentially rich oil deposit in the contentious Essequibo region in Guyana, Venezuela’s President Nicolás Maduro appears intent on exploiting his neighbor’s land.

Posted on Jul 15, 2015 READ MORE


VIDEO: John Oliver Reveals How Billionaire Sports Owners Use Your Tax Money to Build Absurd Stadiums

Many Americans have no idea that the ostentatious swimming pools and aquariums featured in some sports stadiums (not to mention the stadiums themselves) were constructed using public funds.

Posted on Jul 13, 2015 READ MORE



71% of the World’s Population Survives on Less Than $10 a Day

A new report from the Pew Research Center explains that the notion of a global middle class is “more promise than reality.”

Posted on Jul 10, 2015 READ MORE



Petros Giannakouris / AP

It’s Greek to Goldman Sachs

“What is this Goldman Sachs and why has it caused us so much grief?” is a question they must be asking in even the most remote of Greek villages, as they are throughout much of this economically troubled world. (Reposted)

Posted on Jun 30, 2015 READ MORE



Brandon Anderson / CC BY-NC-ND 2.0

Here’s Why Giving People Jobs and Training Could Actually Help Cut Down on Crime

A new study suggests that when people who have been involved in crimes such as theft are given the opportunity and training to do “legitimate work,” they are less likely to continue criminal activities.

Posted on Jun 30, 2015 READ MORE



This Is How We Should Punish Bank Felons

What exactly does it mean for a big Wall Street bank to plead guilty to a serious crime?

Posted on Jun 22, 2015 READ MORE



Iceland Jailed Bankers and Rejected Austerity—and It’s Been a Success

Iceland’s insistence on following a different drummer after the global economic collapse is evidence that a more ethical approach can work.

Posted on Jun 11, 2015 READ MORE


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