Truthout
Economy
US Multimillionaires’ Wages Rose in 2021, While Bottom 90 Percent Got Pay Cut
The bottom 90 percent got a wage cut in 2021, but the top 0.1 percent got a wage raise of 18.5 percent.
Warren: Musk Is Using Tesla to Prop Up Twitter’s Debts and Failures
Musk has racked up potential labor concerns and conflicts of interest in his Twitter dealings, Warren wrote.
Musk Pledged $6B to Solve World Hunger But Gave It to His Own Foundation Instead
Instead of giving the money to charity, Musk likely “donated” the money for tax-dodging purposes.
Large Utilities Have Made $14B in Profits as Millions Fall Behind on Payments
Roughly 1 in 6 households are currently behind on energy bills.
Crypto Industry Ally Joins House GOP Leadership, Nixing Hopes for Reform
Future House Majority Whip Tom Emmer has interfered with investigations of crypto firms such as FTX.
Federal Officials Sue to Stop Microsoft Merger in Major Antitrust Move
The FTC says the $69 billion merger would be a huge consolidation of industry power.
Dozens of Groups Urge Congress Not to Extend Trump’s Corporate Tax Cuts
Corporations like Amazon and Northrop Grumman have been lobbying for the tax breaks.
Financial Technology Firms Made “Massive Profits” on PPP Loans, Engaged in Fraud
A congressional report finds lax anti-fraud standards, execs who cashed in, and contempt for small loan applicants.
With No Child Tax Credit, Families Are Slipping Back Into Poverty Amid Inflation
Child poverty rates have crept back up since the program expired, leaving families struggling with food insecurity.
Unemployment Steady at 3.7 Percent as Economy Adds 263,000 Jobs in November
However, rapid wage growth likely means the Fed will continue on its path of aggressive rate hikes for the near future.