Global Minimum Tax on Multinationals: If G20 countries agreed to impose a 25% minimum corporate tax on the global income of their multinational firms, more than 90% of worldwide profits would automatically be taxed at 25% or more.

February 26, 2021 For too long, international institutions have failed to address one of the most toxic aspects of globalization: tax avoidance and evasion by multinational corporations. By shifting their profits to tax havens, large companies deprive governments worldwide of at least $240 billion per year in fiscal revenues. This shortfall affects not only the United States, where some 50% of overseas profits …

Our fragile democracy, minimum wage fight, justice system and more

Feb 2021 With Trump’s Acquittal, The Fragility Of America’s Democracy Is Even More Clear (FiveThirtyEight) — “Even if Trump himself doesn’t seek the presidency again, aspiring Republican politicians know now that the party’s base and elected officials will tolerate a lot of anti-democratic behavior. So, both Trump and Trump-style politics remain major threats to American democracy and potentially the future …

Natural gas utilities lobby for pre-emption against gas bans and building decarbonization

Across the country, natural gas utilities and their lobby, the American Gas Association, are lobbying state legislatures to adopt laws preempting cities and municipalities from banning new natural gas infrastructure in order to combat climate change. Preemption laws are an anti-majoritarian tool increasingly used by business lobbying groups and conservative lawmakers to stem grassroots progressive momentum. Gas Industry Lobbies In …

Gas makes up half of power generation in Texas and HALF closed. Capitalism doesn’t invest in resilience: Texas and California built different power grids, but neither stood up to climate change

Gas made up 48% of power generation in TX (or 51% by other accounts) and half was off-line. The majority of ERCOT’s winter peaking capacity relies on natural gas-fired power, and in total gas makes up 47.45% of the grid operator’s generation footprint. At its peak, 52,277 MW of the grid operator’s 107,514 MW in installed capacity fell offline or …

Small businesses are disappearing across most sectors even though they often outperform their bigger competitors on price and quality. Big businesses with more political power tilt the playing field & destroy community economic vitality but policies can help

States and cities have potent policy tools for checking corporate power and sparking a new wave of entrepreneurship and small business development. We define “independent” to mean that the owners have full control over the business; that it’s not a franchise or subsidiary of a larger corporation. “Locally owned” means that the owner(s) live in the region. In many sectors, …

Whistleblower Accuses Exxon of ‘Fraudulent’ Behavior for Overvaluing Fracking Assets For Years

By Nick Cunningham • DeSmog, February 2, 2021 ExxonMobil announced a $19.3 billion write-down on Tuesday, a big hit to a company reeling from depressed oil and gas prices and a rapidly changing global energy market. The write-down reduces the value of the assets on Exxon’s books. The announcement comes as part of the company’s fourth quarter earnings for 2020. The fossil fuel giant, however, may …

Getting off fossils sooner rather than later saves money

Jan-Feb 2021: ExxonMobil announced a $19.3 billion write-down this week – reducing the value of the assets on its books – a big hit to a company reeling from depressed oil and gas prices and a rapidly changing global energy market. The fossil fuel giant, however, may be understating the financial damage to its assets, according to a former ExxonMobil …