Tag Archives: Breaking News

Taking Aim at Billionaire Tax Avoiders, Biden Proposes Minimum Tax for Ultrarich

March 29, 2022 Creative Commons

by Paul Kiel, Jesse Eisinger and Jeff Ernsthausen

ProPublica is a Pulitzer Prize-winning investigative newsroom. Sign up for The Big Story newsletter to receive stories like this one in your inbox.Series: The Secret IRS Files Inside the Tax Records of the .001%

Last year ProPublica, drawing on a trove of IRS data, gave the public its most extensive view ever of the taxes of the wealthiest Americans. The first article in the Secret IRS Files series put real numbers to a core truth about the U.S. tax system: Billionaires like Jeff Bezos, Elon Musk and Warren Buffett can easily shield their fortunes from taxation by avoiding the sorts of income captured on a tax return.

A proposal released today by the Biden administration takes direct aim at this issue. The policy, if enacted, would, for a sliver of the very wealthiest, close that escape hatch. Vast increases in wealth would result in owing taxes.

Generally, the IRS does not tax gains unless they are “realized,” typically when a person sells a stock that has gained in value. Billionaires who hold on to assets that have appreciated get the benefit of those unrealized gains — they often borrow against them — without owing any tax.

This is by no means a new bug in the U.S. system. But as ProPublica explained last year, the explosion of wealth inequality in recent decades, coupled with the particular nature of how these new fortunes have been built, has made unrealized gains particularly important at this point in our history.

Past U.S. presidents have, on occasion, pushed for higher taxes on the rich, but usually by hiking traditional income tax rates. Biden’s proposal calls for a paradigm shift: It would change what gets counted as income. “Although the taxation of unrealized gain is still far from enactment, and even if enacted would await an uncertain fate in the Supreme Court, presidential endorsement of the concept is a milestone in the history of the income tax,” said Lawrence Zelenak, a Duke University School of Law professor whose expertise includes income and corporate tax and tax policy.

As outlined by the White House, the new tax would apply only to households worth over $100 million. They would owe a tax of at least 20% on their “full income,” as a White House document terms it, a definition that includes unrealized gains. News of the proposal, which was included as part of Biden’s 2023 budget plan, was first reported by The Washington Post.

Under the current system, the wealthiest Americans pay nowhere close to that tax rate on gains in their wealth. The 25 richest Americans, as measured by Forbes, got $401 billion richer from 2014 to 2018. ProPublica’s analysis of the IRS data found that the group paid a total of $13.6 billion in federal income taxes during that time, a rate of only 3.4%.

In an analysis posted on Twitter, University of California Berkeley economist Gabriel Zucman estimated that the 10 richest Americans alone would owe at least $215 billion under the plan.

In all, the Biden Administration estimates, the new tax would generate $360 billion in extra revenue over 10 years.

The plan would allow those hit by the tax a period of nine years to pay their “initial” obligations: In other words, someone whose fortune has increased by $10 billion as of when the bill became law would have that time to pay the $2 billion they owe. Going forward, further increases of wealth would result in taxes owed over a five-year period.

Although Biden’s Billionaire Minimum Income Tax, as it’s called, is a major departure from past presidential proposals, it would deploy features that are already part of current tax law.

For instance, there is the Alternative Minimum Tax, a measure first enacted decades ago in response to revelations that the richest were easily avoiding paying income taxes. The AMT is supposed to work as a kind of fail-safe, imposing taxes on rich people who have used huge deductions to wipe out income for tax purposes and thus avoid taxes. But it often fails. For instance, we found multiple examples of billionaires paying not a penny in income taxes, sometimes for years at a time.

Like the AMT, Biden’s minimum tax would work alongside the current tax code. If a billionaire happened to already be paying 20% of their full income, the Biden plan would result in no extra tax.

The existing tax code also has provisions that tax unrealized gains in certain situations. For instance, professionals who trade in securities, such as hedge fund managers, often elect to have their portfolios “marked to market” and owe tax based on their gains or losses relative to the previous year. Similarly, another provision hits wealthy Americans who choose to renounce their citizenship: All their property is valued and taxed as if it had been sold.

Versions of a tax on mark-to-market gains have been proposed before, going back several years, most notably last year by Sen. Ron Wyden, D-Ore., chair of the Senate Finance Committee. The idea, however, has its share of critics, both Republicans and tax experts who worry it would be too complicated to administer and would risk being struck down by the Supreme Court.

John Brooks of Georgetown University Law Center is among the supporters. He argued the idea is squarely constitutional, given “the many examples of taxing unrealized gain already in the tax code.” And as for complaints about its complexity, the wealthy already value their assets for their own financial purposes, he told ProPublica: “In the end, it would be a simple, formulaic approach that would require minimal work in addition to what wealthy taxpayers are already doing.”

republished under Creative Commons license (CC BY-NC-ND 3.0)

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Breaking News, News, Politics

New Documentary by Frontline and ProPublica Reveals Origins of the Stolen Election Myth

March 29, 2022 Creative Commons

by ProPublica

ProPublica is a Pulitzer Prize-winning investigative newsroom. Sign up for The Big Story newsletter to receive stories like this one in your inbox.Series: The Insurrection The Effort to Overturn the Election

Tonight, PBS stations across the U.S. will premiere “Plot to Overturn the Election,” a collaboration between ProPublica and Frontline. (The documentary will also appear at pbs.org/frontline.) “Plot to Overturn the Election” examines the roles and impact of key members of the movement to spread the belief that the 2020 U.S. presidential election was rigged. The documentary also explores how members of the movement helped launch and fund the audit of Arizona’s vote count and how they are working to influence future elections, in part by supporting secretary of state candidates who share their views that America’s voting systems are irredeemably corrupt.

Correspondent A.C. Thompson, along with reporters Doug Bock Clark, Alexandra Berzon and Kirsten Berg, obtained new information that helps explain why two-thirds of Republicans believe President Donald Trump won the 2020 election. In the coming weeks, ProPublica and Frontline will publish stories that further examine the movement’s past and ongoing efforts to find evidence of election fraud.

Part of the Frontline and ProPublica project focuses on a group that gathered in the weeks after the 2020 election on a South Carolina plantation owned by conservative defamation attorney Lin Wood. Using the property as a temporary headquarters, a team of lawyers and cybersecurity experts gathered and synthesized what they claimed was evidence of election fraud. This group, which included Michael Flynn, the retired three-star Army general and former national security adviser to Trump, and Patrick Byrne, the former CEO of Overstock.com, became a key originator of the since-discredited idea that foreign communist governments had hacked voting machines made by Dominion Voting Systems. The belief was central to justifying the efforts of Trump and his allies to reverse the results of the election.

The reporting on the group’s activities draws on more than a thousand private emails, photos and videos, hundreds of text messages and dozens of hours of audio recordings, none of which have been previously reported on.

“It was almost like finding a key to understanding, you know, why much of the country believes that the election was stolen,” Clark tells Thompson in the documentary.

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Business, News, Observation, Tech

Congressional Chair Asks Google and Apple to Help Stop Fraud Against U.S. Taxpayers on Telegram

March 28, 2022 Creative Commons

Above: Photo Collage / Lynxotic / Apple / Telegram

The chairman of a congressional subcommittee has asked Apple and Google to help stop fraud against U.S. taxpayers on Telegram, a fast-growing messaging service distributed via their smartphone app stores. The request from the head of the House Select Subcommittee on the Coronavirus Crisis came after ProPublica reports last July and in January revealed how cybercriminals were using Telegram to sell and trade stolen identities and methods for filing fake unemployment insurance claims.

Rep. James E. Clyburn, D-S.C., who chairs the subcommittee (which is part of the House Committee on Oversight and Reform), cited ProPublica’s reporting in March 23 letters to the CEOs of Apple and Alphabet, Google’s parent company. The letters pointed out that enabling fraud against American taxpayers is inconsistent with Apple’s and Google’s policies for their respective app stores, which forbid apps that facilitate or promote illegal activities.

“There is substantial evidence that Telegram has not complied with these requirements by allowing its application to be used as a central platform for the facilitation of fraud against vital pandemic relief programs,” Clyburn wrote. He asked whether Apple and Alphabet “may be able to play a constructive role in combating this Telegram-facilitated fraud against the American public.”

Clyburn also requested that Apple and Google provide “all communications” between the companies and Telegram “related to fraud or other unlawful conduct on the Telegram platform, including fraud against pandemic relief programs” as well as what “policies and practices” the companies have implemented to monitor whether applications disseminated through their app stores are being used to “facilitate fraud” and “disseminate coronavirus misinformation.” He gave the companies until April 7 to provide the records.

Apple, which runs the iOS app store for its iPhones, did not reply to a request for comment. Google, which runs the Google Play app store for its Android devices, also did not respond.

The two companies’ app stores are vital distribution channels for messaging services such as Telegram, which markets itself as one of the world’s 10 most downloaded apps.The company has previously acknowledged theimportance of complying with Apple’s and Google’s app store policies. “Telegram — like all mobile apps — has to follow rules set by Apple and Google in order to remain available to users on iOS and Android,” Telegram CEO Pavel Durov wrote in a September blog post. He noted that, should Apple’s and Google’s app stores stop supporting Telegram in a given locale, the move would prevent software updates to the messaging service and ultimately neuter it.

By appealing to the two smartphone makers directly, Clyburn is increasing pressure on Telegram to take his concerns seriously. His letter noted that “Telegram’s very brief terms of service only prohibit users from ‘scam[ming]’ other Telegram users, appearing to permit the use of the platform to conspire to commit fraud against others.” He faulted Telegram for letting its users disseminate playbooks for defrauding state unemployment insurance systems on its platform and said its failure to stop that activity may have enabled large-scale fraud.

Clyburn wrote to Durov in December asking whether Telegram has “undertaken any serious efforts to prevent its platform from being used to enable large-scale fraud” against pandemic relief programs. Telegram “refused to engage” with the subcommittee, a spokesperson for Clyburn told ProPublica in January. (Since then, the app was briefly banned in Brazil for failing to respond to judicial orders to freeze accounts spreading disinformation. Brazil’s Supreme Court reversed the ban after Telegram finally responded to the requests.)

Telegram said in a statement to ProPublica that it’s working to expand its terms of service and moderation efforts to “explicitly restrict and more effectively combat” misuse of its messaging platform, “such as encouraging fraud.” Telegram also said that it has always “actively moderated harmful content” and banned millions of chats and accounts for violating its terms of service, which prohibit users from scamming each other, promoting violence or posting illegal pornographic content.

But ProPublica found that the company’s moderation efforts can amount to little more than a game of whack-a-mole. After a ProPublica inquiry last July, Telegram shut some public channels on its app in which users advertised methods for filing fake unemployment insurance claims using stolen identities. But various fraud tutorials are still openly advertised on the platform. Accounts that sell stolen identities can also pop back up after they’re shut down; the users behind them simply recycle their old account names with a small variation and are back in business within days.

The limited interventions are a reflection of Telegram’s hands-off approach to policing content on its messenger app, which is central to its business model. Durov asserted in his September blog post that “Telegram gives its users more freedom of speech than any other popular mobile application.” He reiterated that commitment in March, saying that Telegram users’ “right to privacy is sacred. Now — more than ever.”

The approach has helped Telegram grow and become a crucial communication tool in authoritarian regimes. Russia banned Telegram in 2018 for refusing to hand over encryption keys that would allow authorities to access user data, only to withdraw the ban two years later at least in part because users were able to get around it. More recently, Telegram has been credited as a rare place where Russians can find uncensored news about the invasion of Ukraine.

But the company’s iron-clad commitment to privacy also attracts cybercriminals looking to make money. After the COVID-19 pandemic prompted Congress to authorize hundreds of billions of small-business loans and extra aid to workers who lost their jobs, Telegram lit up with channels offering methods to defraud the programs. The scale of the fraud is yet unknown, but it could stretch into tens if not hundreds of billions of dollars. Its sheer size prompted the Department of Justice to announce, on March 10, the appointment of a chief prosecutor to focus on the most egregious cases of pandemic fraud, including identity theft by criminal syndicates.

Article first published on ProPublica by Cezary Podkul and republished under a Creative Commons License (CC BY-NC-ND 3.0)

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News, Observation, Politics, Tech

Consumer Rights Groups Applaud EU Passage of Law to Rein in Tech Titans

March 28, 2022 Creative Commons

Above: Photo Collage / Lynxotic / Adobe Stock

The new law “will put an end to some of the most harmful practices of Big Tech and narrow the power imbalance between people and online platforms.”

Digital and consumer rights advocates on Friday hailed a landmark European Union law aimed at curbing Big Tech’s monopolistic behavior.

“This is a big moment for consumers and businesses who have suffered from Big Tech’s harmful practices.”

Negotiators from the European Parliament and European Council agreed late Thursday on the language of the Digital Markets Act (DMA), which aims to prevent major tech companies from anti-competitive practices by threatening large fines or possible breakup.

Ursula Pachl, deputy director-general at the European Consumer Organization (BEUC), an umbrella advocacy group, said in a statement that “this is a big moment for consumers and businesses who have suffered from Big Tech’s harmful practices.”

“This legislation will rebalance digital markets, increase consumer choice, and put an end to many of the worst practices that Big Tech has engaged in over the years,” she added. “It is a landmark law for the E.U.’s digital transformation.”

The European Union just struck an important deal on the Digital Markets Act, recognizing that only a just and interoperable market can ensure fair competition and more choice for users. #DMA https://t.co/lGcTDstagj
— EFF (@EFF) March 25, 2022

Cédric O, the French minister of state with responsibility for digital, said in a statement that “the European Union has had to impose record fines over the past 10 years for certain harmful business practices by very large digital players. The DMA will directly ban these practices and create a fairer and more competitive economic space for new players and European businesses.”

“These rules are key to stimulating and unlocking digital markets, enhancing consumer choice, enabling better value sharing in the digital economy, and boosting innovation,” he added.

Andreas Schwab, a member of the European Parliament from Germany, said that “the Digital Markets Act puts an end to the ever-increasing dominance of Big Tech companies. From now on, Big Tech companies must show that they also allow for fair competition on the internet. The new rules will help enforce that basic principle.”

We have a deal on #DMA! Last trilogue with @Europarl_EN and @EUCouncil ended with a good, strong agreement.
Tune into our press conference tomorrow 8:45 😊 pic.twitter.com/krHHsOqG8u
— Margrethe Vestager (@vestager) March 24, 2022

BEUC’s Pachl offered examples of the new law’s benefits:

Google must stop promoting its own local, travel, or job services over those of competitors in Google Search results, while Apple will be unable to force users to use its payment service for app purchases. Consumers will also be able to collectively enforce their rights if a company breaks the rules in the Digital Markets Act.

Companies are also barred from pre-installing certain software and reusing certain private data collected “during a service for the purposes of another service.”

Today’s historical agreement on the #DMA taught us two things, first, that the EU is up to the challenge to reign big tech and, secondly, that Europe’s civil society can make a difference in making the regulatory framework more user-focused.
— Agustin Reyna (@arcapde) March 25, 2022

The DMA applies to companies deemed both “platforms” and “gatekeepers”—those with market capitalization greater than €75 billion ($82.4 billion), 45 million or more monthly end-users, and at least 10,000 E.U. business users. Companies that violate the law can be fined up to 10% of their total annual worldwide turnover, with repeat offenders subject to a doubling of the penalty.

“The DMA is a major step towards limiting the tremendous market power that today’s gatekeeper tech firms have.”

Diego Naranjo, head of policy at the advocacy group European Digital Rights (EDRi), said in a statement that “the DMA will put an end to some of the most harmful practices of Big Tech and narrow the power imbalance between people and online platforms. If correctly implemented, the new agreement will empower individuals to choose more freely the type of online experience and society we want to build in the digital era.”

To ensure effective implementation, BEUC’s Pachl called on E.U. member states to “now also provide the [European] Commission with the necessary enforcement resources to step in the moment there is foul play.”

EDRi senior policy adviser Jan Penfrat said that while “the DMA is a major step towards limiting the tremendous market power that today’s gatekeeper tech firms have,” policymakers “must now make sure that the new obligations not to reuse personal data and the prohibition of using sensitive data for surveillance advertising are respected and properly enforced by the European Commission.”

“Only then will the change be felt by people who depend on digital services every day,” he added.

Originally published on Common Dreams by BRETT WILKINS and republished under Creative Commons (CC BY-NC-ND 3.0).

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Hot-Lynx

Judge Rules that Trump Likely Committed Felony Obstruction

March 28, 2022 Eric Cho

As reported by Politico, U.S. District Court Judge David Carter ruled on Monday that former President Trump more likely than not made attempts to obstruct Congress during the 2020 elections on January 6, 2021.

This historic ruling may be the first, where a federal judge determined that a President appeared to have committed a crime while in office. Carter’s decision will not have a direct correlation to the issue of wether Trump will be faced with criminal charges or not, however it could place more pressure on the Justice Department to do so.

“Based on the evidence, the Court finds it more likely than not that President Trump corruptly attempted to obstruct the Joint Session of Congress on January 6, 2021”
U.S. District Court Judge David Carter

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Breaking News, News, Politics

Watchdogs Say if Clarance Thomas Resign, ‘Congress Must Move to Impeach’

March 27, 2022 Creative Commons

Above: Photo Collage / Lynxotic Pixels / Adobe Stock

Fresh calls for the Supreme Court justice’s removal came amid “damning” new evidence of his wife’s involvement in efforts to overturn the 2020 presidential election.

JAKE JOHNSON March 25, 2022 first published on Common Dreams

Calls for Supreme Court Justice Clarence Thomas to resign—or face impeachment proceedings—mounted late Thursday after text messages revealed that his wife urged former White House Chief of Staff Mark Meadows to aggressively pursue efforts to overturn the 2020 election results.

The Washington Post and CBS News obtained dozens of texts that Ginni Thomas, a long-time far-right activist who attended the January 6 rally that preceded the Capitol assault, sent to Meadows in the wake of Trump’s election loss, which she characterized as fraudulent while her husband was hearing election-related cases.

“Clarence Thomas must immediately resign from his seat on the Supreme Court.”

“Release the Kraken and save us from the left taking America down,” Thomas wrote in a November 19 message to Meadows, echoing a slogan that served as a rallying cry for pro-Trump groups.

All but one of the texts between Thomas and Meadows, most of which were written by Thomas, were sent between November 4 and November 24, 2020. One text was sent on January 10, 2021 in the wake of the Capitol insurrection.

“Clarence Thomas must immediately resign from his seat on the Supreme Court.”

Justice Thomas, who is currently hospitalized with an infection, has thus far declined to recuse himself from Supreme Court cases in which his wife’s right-wing activism could pose a conflict of interest.

Thomas was the only justice to publicly argue that the high court should have granted former President Donald Trump’s motion to block the National Archives from handing White House documents over to a congressional panel investigating the January 6 attack. The Supreme Court ultimately rejected Trump’s request.

Sarah Lipton-Lubet, executive director of the Take Back the Court Action Fund, said in a statement Thursday night that “if one thing is clear” from the newly revealed text messages, “it’s that there’s much more to the story of Ginni Thomas’ participation in the January 6 attack that the House Select Committee and the American public deserve to know.”

“Given that Justice Thomas has already made known he won’t recuse himself from cases related to his wife’s right-wing activism, and the damning evidence of his wife’s involvement in this attack on our democracy, Thomas is clearly unfit to serve on the nation’s highest court,” said Lipton-Lubet. “Clarence Thomas must immediately resign from his seat on the Supreme Court.”

“If he refuses, Congress must move to impeach him,” she added. “The integrity of the court, our judicial system, and our democracy as a whole depends on it.”

At least one member of Congress, Rep. Ilhan Omar (D-Minn.), echoed the call for Thomas’ impeachment. The House can impeach a Supreme Court justice with a simple-majority vote, but a two-thirds majority is required in the Senate for conviction and removal.

Clarence Thomas needs to be impeached https://t.co/ZuZbxkMaYs
— Ilhan Omar (@IlhanMN) March 25, 2022

At the very least, the new revelations demonstrate why Thomas “must recuse from any Supreme Court cases or petitions related to the January 6 Committee or efforts to overturn the election,” argued Gabe Roth, executive director of the nonpartisan advocacy group Fix the Court.

“Democrats should be loudly drawing attention to the fact that the wife of a sitting Supreme Court justice supported Trump’s coup attempt.”

“Ginni’s direct participation in this odious anti-democracy work, coupled with the new reporting that seems to indicate she may have spoken to Justice Thomas about it, leads to the conclusion that the justice’s continued participation in cases related to these efforts would only further tarnish the court’s already fading public reputation,” Roth said.

“Democrats should be loudly drawing attention to the fact that the wife of a sitting Supreme Court justice supported Trump’s coup attempt.”

The New Yorker‘s Jane Mayer reported in January that Ginni Thomas has in recent years aligned herself “with many activists who have brought issues in front of” the Supreme Court.

“She has been one of the directors of CNP Action, a dark-money wing of the conservative pressure group the Council for National Policy,” Mayer noted. “CNP Action, behind closed doors, connects wealthy donors with some of the most radical right-wing figures in America. Ginni Thomas has also been on the advisory board of Turning Point USA, a pro-Trump student group, whose founder, Charlie Kirk, boasted of sending busloads of protesters to Washington on January 6th.”

Mayer also observed that Ginni Thomas received payments from the Center for Security Policy (CSP), a right-wing anti-Muslim think tank. Despite disclosure requirements, Justice Thomas failed to report his wife’s income from CSP in 2017 and 2018.

In an op-ed published before the text messages between Ginni Thomas and Meadows surfaced, MSNBC‘s Mehdi Hasan cited Mayer’s reporting to argue that “Democrats should be loudly drawing attention to the fact that the wife of a sitting Supreme Court justice supported Trump’s coup attempt.”

“There is a clear value in holding impeachment hearings to draw attention to Thomas and his wife and their inappropriate behavior, especially as an increasingly partisan, conservative-majority court guts voting and reproductive rights,” Hasan wrote. “What would Republicans be doing if they had held a House majority and, say, Justice Sonia Sotomayor’s spouse had supported attempts to block a duly elected GOP president from taking office and she refused to recuse herself from related cases?”

This article was first published on Common Dreams and republished under Creative Commons license (CC BY-NC-ND 3.0)

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Breaking News, Politics

Suggesting Kremlin Regime Change, Biden says Putin ‘Cannot Remain in Power’

Video March 27, 2022 Creative Commons

The remarks, though later walked back by the White House, are the most explicit yet from the U.S. president that he sees no future for Putin as Russia’s head of state.

Originally published by JON QUEALLY March 26, 2022 in CommonDreams.ORG

Bucking those who warn that a push for regime change in Moscow could prolong the war in Ukraine and intensify the suffering of its people, U.S. President Joe Biden appeared to openly call for the overthrow of Russian Vladimir Putin on Saturday during a speech in Warsaw, Poland.

“Whenever the United States tried regime change, it didn’t turn out very well.”

While applauding the international unity that has mobilized to condemn and push back against the Russian invasion of Ukraine, a war now entering its second month, Biden suggested it has now become intolerable for Putin to remain.

Near the very end of his speech, Biden declared, “For God’s sake, this man cannot remain in power.”

“Whenever the United States tried regime change, it didn’t turn out very well.”

The remarks were the most explicit yet from the U.S. president that he sees no future for Putin as Russia’s head of state, but the comment also raised immediate alarm bells among those who recognized that such rhetoric could make it harder to a negotiated peace settlement to take hold or for the diplomatic strategy known as the “Golden Bridge” which would allow for a dignified exit from hostilities.

How the fuck does this help the chances of a negotiated settlement? https://t.co/5rcZKBSLPp
— Noah Shachtman (@NoahShachtman) March 26, 2022

In a Democracy Now! interview that aired Friday, former Greek finance minister Yanis Varoufakis explained why Putin must be given a viable exit strategy—not because he isn’t a contemptible war criminal, which Varoufakis readily admitted—but because it would be the fastest way to end the invasion and mass slaughter of innocent Ukrainian civilians.

“What is exactly the aim?” asks Varoufakis during the exchange. “Is it regime change in Russia? Well, whenever the United States tried regime change, it didn’t turn out very well, and has never been tried with a nuclear power. This is like playing with fire, or nuclear fire, I should say. If it’s not regime change, what exactly is it?”

"Putin must be given a golden bridge from which to escape his conundrum. He must be given something he can sell to his own people as 'mission accomplished," says @YanisVaroufakis.

"We should be moving toward a rational solution that will leave everybody slightly dissatisfied." pic.twitter.com/SH0ma4aXBf
— Democracy Now! (@democracynow) March 25, 2022

In his assessment, Varoufakis said that if Biden and his NATO allies are “not leaving any room for a compromise” with Putin, then they are “effectively jeopardizing the interests of Ukrainians, because a quagmire in—an Afghanistan-like quagmire in the Ukraine is not exactly in the interests of any Ukrainian I know of.”

“The President’s point was that Putin cannot be allowed to exercise power over his neighbors or the region. He was not discussing Putin’s power in Russia, or regime change,” said the official.

Following the walk back, Varoufakis responded on Sunday morning by saying the need for such a clarification is itself a worrying sign.

“A U.S. president who, during an atrocious war, does not mean what he says on matters of war and peace, and must be corrected by his hyperventilating staff,” said Varoufakis, “is a clear and present danger to all.”

Update: This piece was updated to include news comments from Varoufakis.

This article was first published on Common Dreams and republished under Creative Commons license (CC BY-NC-ND 3.0)

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Hot-Lynx

Federal Prosecutor: Trump ‘guilty of numerous felony violations’

March 23, 2022 Eric Cho

According to Mark F. Pomerantz, a former federal prosecutor that came out of retirement to work on the Trump investigation and then resigned last month, Trump is ‘guilty of numerous felony violations’. A copy of his resignation letter obtained by the New York Times read “The team that has investigated Mr. Trump harbors no doubt about whether he committed crimes — he did” which is a direct criticism of the lack of further prosecution to date.

Anger over lack of prosecution now confirmed

Pomerantz submitted his resignation after Manhattan district attorney, Alvin Bragg stopped pursuing an indictment of Donald Trump. He believed the former president was “guilty of numerous felony violations” as well as it being “a grave failure of justice” not to pursue charges.

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Observation, Politics

Why Abortion Bans Aren’t Pro-Life: New Video by Robert Reich

Video March 23, 2022 Madison Santel

As a new Supreme Court appointment looms…

In another great new video Robert Reich talks about the unspoken downsides of Abortion bans and why they are not “Pro-LIfe”. The video is one of many that can be seen on the Inequality Media YouTube channel – which adds at least a new video weekly.

Abortion bans are not pro-life. They’re pro-poverty and pro-inequality.

I’ll tell you what we can do about it in a moment. But first, let me explain how these bans worsen inequalities.

You’ve probably heard of the two abortion cases making their way through the courts. But it’s not just Texas and Mississippi’s new bans. For years, Republican state lawmakers – almost entirely white men – have been chipping away at reproductive freedom: enacting laws that lead to clinic closures, force people to travel hundreds of miles for abortions, and create near-insurmountable barriers for low-income people, especially people of color.

Make no mistake: bans like those in Texas and Mississippi won’t stop abortions. Wealthy people will always have access, but millions of low-income people will be forced to give birth – with dire consequences for both parent and child.

Pregnant people in Texas now have to travel an average of 247 miles to get an abortion. Who but the wealthy can afford this? Only one third of the lowest paid workers receive paid sick days, while 95% of the highest paid do. Taking just one unpaid day off from a low-wage job can mean sacrificing groceries, electricity, or gas.

These restrictions worsen inequality, and have lifelong effects.

One study found that being forced to carry an unwanted pregnancy to term makes it nearly 4 times more likely that parent and child will live below the poverty line. They’re also less likely to have full-time work, and more likely to have public assistance four years later. Decades of research confirm that abortion access improves education, employment, and earnings — and the differences are especially large for Black people.

It’s not just economics. Restricting abortion puts people’s health at risk. Researchers found that abortion legalization in the 1970s reduced deaths among Black mothers by 30 to 40 percent.

The Supreme Court’s right-wing majority is poised to gut or even overturn Roe v. Wade. If they do, 21 states already have laws that will go into effect to severely restrict or outright ban all abortions immediately – threatening the livelihoods and health of millions of low-income Americans.

Congress must codify Roe v. Wade into federal law — now — by passing the Women’s Health Protection Act. It’s already been passed in the House but is being blocked in the Senate by – you guessed it – a Republican filibuster.

Let’s be clear: there is nothing “pro-life” about forced pregnancy and forced birth. The freedom to choose when, how, and with whom you start a family should not be dictated by your income or where you live. Congress must act to protect reproductive now, freedom before it’s too late.

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Climate Solutions, News, Observation

‘Unthinkable’: Scientists Shocked as Polar Temperatures Soar 50 to 90 Degrees Above Normal

March 21, 2022 Creative Commons

“With everything going on in the world right now, the dual polar climate disasters of 2022 should be the top story”

Scientists expressed shock and alarm this weekend amid extreme high temperatures near both of the Earth’s poles—the latest signs of the accelerating planetary climate emergency.

“This event is completely unprecedented and upended our expectations about the Antarctic climate system.”

Temperatures in parts of Antarctica were 50°F-90°F above normal in recent days, while earlier this week the mercury soared to over 50°F higher than average—close to the freezing mark—in areas of the Arctic.

Stefano Di Battista, an Antarctic climatologist, tweeted that such record-shattering heat near the South Pole was“unthinkable” and “impossible.”

“Antarctic climatology has been rewritten,” di Battista wrote.

The joint French-Italian Concordia research station in eastern Antarctica recorded an all-time high of 10°F on Friday. In contrast, high temperatures at the station this time in March average below -50°F.

Record heat in the Arctic is driving an early melt season and crushing 2022 sea-ice extent: current rank now #4. The Antarctic is even worse.

With everything going on in the world right now, the dual polar climate disasters of 2022 should be the top story. pic.twitter.com/qsi4OAob6L
— Prof. Eliot Jacobson (@EliotJacobson) March 17, 2022

Jonathan Wille, a researcher studying polar meteorology at Université Grenoble Alpes in France, told The Washington Post that “this event is completely unprecedented and upended our expectations about the Antarctic climate system.”

“This is when temperatures should be rapidly falling since the summer solstice in December,” Wille tweeted. “This is a Pacific Northwest 2021 heatwave kind of event,” he added, referring to the record-breaking event in which parts of Canada topped 120°F for the first time in recorded history. “Never supposed to happen.”

Walt Meier, a senior research scientist at the National Snow and Ice Data Center in Boulder, Colorado, toldUSA Today that “you don’t see the North and the South [poles] both melting at the same time” because “they are opposite seasons.”

“It’s definitely an unusual occurrence,” he added.

50 degrees above normal in the North Pole this week, and 50 to 90 degrees above normal in Antarctica. Good lord. https://t.co/bSrodCJdei
— Brooke Jarvis (@brookejarvis) March 18, 2022

As Common Dreams has reported, the Arctic has been warming three times faster than the world as a whole, accelerating polar ice melt, ocean warming, and other manifestations of the climate emergency.

“Looking back over the last few decades, we can clearly see a trend in warming, particularly in the ‘cold season’ in the Arctic,” Ruth Mottram, a climate scientist with the Danish Meteorological Institute, told the Post. “It’s not surprising that warm air is busting through into the Arctic this year. In general, we expect to see more and more of these events in the future.”

Originally published on Common Dreams by BRETT WILKINS and republished under Creative Commons (CC BY-NC-ND 3.0)

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Climate Solutions, News, Observation, Politics

‘Addiction to Fossil Fuels Is Mutually Assured Destruction,’ Warns UN Chief

March 21, 2022 Creative Commons

“Instead of hitting the brakes on the decarbonization of the global economy” amid Russia’s war on Ukraine, “now is the time to put the pedal to the metal towards a renewable energy future,” said United Nations Secretary-General António Guterres.

“The 1.5-degree goal is on life support. It is in intensive care.”

So said United Nations Secretary-General António Guterres on Monday, as he stressed that a swift and just transition to clean energy is necessary to meet the Paris agreement’s objective of limiting global temperature rise to 1.5°C above preindustrial levels—and warned against using Russia’s deadly assault on Ukraine as an excuse to ramp up fossil fuel production worldwide.

“We are sleepwalking to climate catastrophe.”

“The science is clear. So is the math,” the U.N. leader said during a speech delivered at a Sustainability Summit hosted by The Economist. “Keeping 1.5 alive requires a 45% reduction in global emissions by 2030 and carbon neutrality by mid-century.” And yet, “according to present national commitments, global emissions are set to increase by almost 14% in the 2020s.”

“We are sleepwalking to climate catastrophe,” Guterres continued. “Our planet has already warmed by as much as 1.2 degrees—and we see the devastating consequences everywhere. In 2020, climate disasters forced 30 million people to flee their homes—three times more than those displaced by war and violence.”

Just this past weekend, scientists conveyed shock and alarm in response to reports that temperatures at both of Earth’s poles reached more than 50°F above average last week. Peer-reviewed research published on Friday foundthat increasingly frequent and intense wildfires around the globe are exacerbating Arctic warming, which is worsening the conditions that make future blazes more likely.

“Two weeks ago,” said Guterres, citing part two of the U.N.’s landmark climate assessment, “the IPCC confirmed that half of humanity is already living in the danger zone. Small island nations, least developed countries, and poor and vulnerable people everywhere are one climate shock away from doomsday. In our globally connected world, no country and no corporation can insulate itself from these levels of chaos.”

“If we continue with more of the same, we can kiss 1.5 goodbye,” he added. “Even 2 degrees may be out of reach. And that would be catastrophe.”

Making matters worse, said Guterres, “the fallout from Russia’s war in Ukraine risks upending global food and energy markets—with major implications for the global climate agenda.”

“As major economies pursue an ‘all-of-the-above’ strategy to replace Russian fossil fuels, short-term measures might create long-term fossil fuel dependence.”

The United States, United Kingdom, and European Union have moved to restrict imports of Russian fossil fuels in response to Moscow’s military offensive. Although progressives have emphasized that the ongoing invasion should lead to an intensification of efforts to move awayfrom dirty energy, profit-hungry proponents of oil, gas, and coal have seized on surging prices to push for boosting extraction and exports.

Guterres warned that “as major economies pursue an ‘all-of-the-above’ strategy to replace Russian fossil fuels, short-term measures might create long-term fossil fuel dependence and close the window to 1.5 degrees.”

“Countries could become so consumed by the immediate fossil fuel supply gap that they neglect or knee-cap policies to cut fossil fuel use,” he said. “This is madness. Addiction to fossil fuels is mutually assured destruction.”

“As current events make all too clear, our continued reliance on fossil fuels puts the global economy and energy security at the mercy of geopolitical shocks and crises,” added Guterres. “We need to fix the broken global energy mix.”

Noting that “the timeline to cut emissions by 45% is extremely tight,” the U.N. leader stressed that “instead of hitting the brakes on the decarbonization of the global economy, now is the time to put the pedal to the metal towards a renewable energy future.”

His remarks came just hours before the Intergovernmental Panel on Climate Change (IPCC) kicked off a two-week meeting to validate part three of its report, which focuses on the need to drastically slash carbon pollution to avoid the most disastrous outcomes.

Guterres argued that cooperation between the developed and emerging economies of the G20—responsible for 80% of global emissions—is essential to addressing the planetary emergency.

“Accelerating the phase-out of coal and all fossil fuels and implementing a rapid, just, and sustainable energy transition,” he said, is “the only true pathway to energy security.”

Originally published on Common Dreams by KENNY STANCIL and republished under Creative Commons (CC BY-NC-ND 3.0)

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Hot-Lynx

7.3 Magnitude Earthquake off Coast of Japan: Triggers Tsunami Warning

March 16, 2022 Madison Santel

A 7.3 magnitude earthquake hit Japan near the north-east coast of Fukushima Wednesday March 16. According to Reuters one fatality has been reported along with 69 injuries. Authorities have issued a tsunami warning with residents in costal areas told to evacuate.

More than 2 million homes lost power, as reported by NPR, The Japanese Meteorological Agency said the quake hit at 11:36 P.M. at a depth of 36 miles below the sea.

One person is reported dead and dozens of people are believed to have suffered injuries.

In some areas it was reportedly too forceful for people to stand, and buildings rattled in the Tokyo, according to AFP.

The quake jolted the region just a week shy of the anniversary of the devastating 9.0 earthquake and tsunami that happened back in March 2011.

The earthquake was felt in Tokyo, 170 miles away.

Read More at:

REUTERS

NPR

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Breaking News, News

Red Alert for Fukushima Nuclear Plant After 7.3 Quake in Japan

March 16, 2022 Creative Commons

Over two million homes in the Tokyo region were left without power.

This is a breaking story… Please check back for possible updates…

A series of earthquakes off the coast of Japan on Wednesday triggered a tsunami advisory for Miyagi and Fukushima prefectures—just over 11 years after the region endured a major nuclear disaster.

The first two earthquakes, with magnitudes of 6.4 and 7.3, struck within two minutes of each other, followed by another 5.5 magnitude quake over an hour later, according to the U.S. Geological Survey (USGS).

The strongest quake hit about 60 kilometers or 37 miles below the sea and left more than two million homes without electricity in an area serviced by the Tokyo Electric Power Company (TEPCO), the Associated Press reported.

Yes it’s really a 7.3 ! https://t.co/3uGzZqOY86
— Eric Feigl-Ding (@DrEricDing) March 16, 2022

The AP noted that TEPCO said workers were checking for any possible damage at the Fukushima Daiichi Nuclear Power Plant in Ōkuma, the site of the March 2011 disaster—which was caused by a 9.0 magnitude quake and resulting tsunami that led to multiple meltdowns at the facility.

No abnormalities were found at the Fukushima plant, The Japan Timesreported, citing the nation’s Nuclear Regulation Authority.

TEPCO also found no abnormalities at the Onagawa Nuclear Power Plant in Miyagi Prefecture, according to Japan’s public broadcaster, NHK.

“There is a possibility that another earthquake as strong as an upper 6 could strike in the next week or so,” Japanese Chief Cabinet Secretary Hirokazu Matsuno told reporters just after midnight local time. “We need to be on alert.”

As Common Dreams reported last week, environmental defenders marked the 11th anniversary of the Fukushima disaster with calls for a renewable energy future free of nuclear power.

Originally published on Common Dreams by JESSICA CORBETT and republished under

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Hot-Lynx

‘Be the Leader of Peace’ Zelenskyy tells US Congress and pleads with President Biden in Virtual Speech

March 16, 2022 Eric Cho

Ukrainian President Volodymyr Zelenskyy in a virtual address on Wednesday urged Congress to push for both a no-fly zone over Ukraine, as well as for additional planes and defense systems to respond to Russia’s continued invasion.

Zelenskyy said in video, “Russia has turned the Ukrainian sky into a source of death for thousands of people”.

Citing Pearl Harbor and 9/11, the Ukrainian President showed graphic video of death and devastation his country has suffered and continues to deal with daily in the war.

The live-streamed address in the Capitol complex had a translator for majority of his speech. To close, Zelenskyy spoke in English, pleading directly to President Biden: “I wish you to be the leader of the world. Being the leader of the world means to be the leader of peace.”

A day earlier, on Tuesday, President Biden signed into law a $13.6 billion package for emergency aid in Ukraine to help with humanitarian and weaponry assistance. According to Reuters, Biden is also expected to announce further aid in the amount of $800 million in security assistance to Ukraine.

Read More at:

Reuters

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Economics, News, Observation, Politics

The Real Reason Congress Gets Nothing Done

March 15, 2022 Madison Santel

How do things really get done (or more often not) in Washington D.C.?

In a new video from Robert Reich, former secretary of labor and accomplished author, the sad subject of so-called ’gridlock’ in government is addressed. This perspective is particularly useful and helpful to consider since this year is an election year.

There’s an unfortunate lack of understanding regarding how things actually work and, more importantly what can be done about it.

Inequality Media, the Org, led by Robert Reich, that is responsible for this content, is putting out clear and incisive messages on topics like this on a weekly, sometimes daily basis. Getting these kinds of valuable messages out to places like YouTube, TikTok and social media is important at anytime. Now, in such a critical moment in our history, it’s essential.

Why doesn’t Congress get anything done?

Well, one chamber actually does. Hundreds of bills have been passed by the House of Representatives, but have been blocked from even getting a vote in the Senate. Bills like The Freedom to Vote Act, The John R. Lewis Voting Rights Advancement Act, The Equality Act, Background checks for gun sales, Reauthorizing the Violence Against Women Act, The Protecting the Right to Organize Act, The Build Back Better Act. The list goes on.

So why aren’t these crucial bills getting a vote in the Senate? Because the filibuster makes it impossible.

All told, the House passed over 200 bills in 2021 that have not been taken up in the Senate. Everything from investing in rural education to preventing discrimination against pregnant workers to protecting seniors from scams – bills that have real, tangible benefits for the public; bills that have widespread public support.

So don’t believe the media narrative that Congress is trapped in hopeless gridlock and both sides are to blame. One chamber of Congress, led by Democrats, is passing important legislation and delivering for the people. But Republicans in the Senate, and a handful of corporate Democrats, are hell-bent on grinding the gears of government to a halt.

Why are Senate Republicans doing this? Because their midterm strategy depends on it. Republicans are blocking crucial legislation so they can point to Democrats’ supposed inability to get anything done, and claim they’ll be able to deliver if you give them majorities.

Don’t fall for it.

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Hot-Lynx

Kyiv: Zelenskyy to host Polish, Czech and Slovenian PMs

March 15, 2022 Eric Cho

Three European Prime Ministers of NATO countries will meet in Kyiv with Ukrainian President Volodymyr Zelenskyy and Ukrainian Prime Minister Denis Shmyhal

Polish Prime Minister Mateusz Morawiecki, Slovenian Prime Minister Janez Janša and Czech Prime Minister Petr Fiala will represent the European Council.

A statement reported by Reuters announced, “The purpose of the visit is to confirm the unequivocal support of the entire European Union for the sovereignty and independence of Ukraine. The aim of this visit is also to present a broad package of support for Ukraine and Ukrainians.”

The visit from Polish, Czech and Slovenian PM comes while Kyiv continues to be bombarded by Russian troops. With civilian fatalities reported early Tuesday morning after shelling hit buildings in a residential areas.

Adviser to the Head of the Office of President of Ukraine Volodymyr Zelenskyy said in a tweet “Negotiations are ongoing. Consultations on the main negotiation platform renewed. General regulation matters, ceasefire, withdrawal of troops from the territory of the country…”

President Volodymyr Zelenskyy will also address Congress in a virtual speech, most likely to put additional pressure on President Biden to facilitate fighter jets to help with Russia’s continued offensive in Ukraine.

Read More at:

Reuters

CNN

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News, Observation, Politics

‘A Crime Against Democracy Itself’: Zelenskyy Condemns Russia for Abducting Mayor

March 13, 2022 Creative Commons

“They have moved to a new stage of terror in which they are trying to physically eliminate representatives of legitimate local Ukrainian authorities,” said the Ukrainian president.

Ukrainian President Volodymyr Zelenskyy on Saturday accused Russia of committing “a crime against democracy itself” by abducting the mayor of Melitopol, a city in southern Ukraine that Russian troops seized in the early days of the invasion.

“This is obviously a sign of weakness of the invaders,” Zelenskyy said during a press conference, praising Melitopol Mayor Ivan Federov as someone “who bravely defends Ukraine and the members of his community.”

Russian forces, Zelenskyy warned, have “moved to a new stage of terror in which they are trying to physically eliminate representatives of legitimate local Ukrainian authorities.”

“The capture of the mayor of Melitopol is, therefore, a crime, not only against a particular person, against a particular community, and not only against Ukraine,” he continued. “It is a crime against democracy itself.”

According to Ukrainian officials, Russian soldiers “put a plastic bag” on Fedorov’s head and abducted him from the Melitopol city center on Friday, outraging local residents who turned out to protest the alleged kidnapping.

“Return the mayor!” townspeople shouted during a demonstration on Saturday. “Free the mayor!”

The New York Times reported that “nearly as soon as people gathered, the Russians moved to shut them down, arresting a woman who they said had organized the demonstration, according to two witnesses and the woman’s Facebook account.”

Locals in Melitopol, a southern Ukrainian town captured by Russia, protest against the reported kidnapping of their mayor. Video via Zelensky’s office pic.twitter.com/139ld4KKly
— max seddon (@maxseddon) March 12, 2022

Across Europe on Saturday, thousands of people took to the streets to protest Russia’s deadly assault on Ukraine, which shows no sign of abating after entering its third week.

German Chancellor Olaf Scholz and French President Emmanuel Macron both spoke with Russian President Vladimir Putin by phone on Saturday, urging him to broker an immediate ceasefire and move toward a diplomatic resolution in Ukraine—but there was no indication that Putin was prepared to heed their demands.

“The conversation is part of ongoing international efforts to end the war in Ukraine,” a spokesperson for the German government said in a statement.

The Elysée, meanwhile, described the phone conversation with Putin as “very frank and difficult.”

The call came as Ukrainian officials braced for a potentially massive Russian assault on the capital city of Kyiv, which has thus far fought off Russia’s incursion attempts. The Associated Press reported that fighting “raged in the outskirts of the capital” as Russian forces continued bombarding and shelling other Ukrainian cities, including the strategic port of Mariupol.

“In Irpin, a suburb northwest of Kyiv, bodies lay out in the open Saturday on streets and in a park,” according to AP.

The U.K. Ministry of Defence has assessed that “the bulk of Russian ground forces” are now roughly 25 kilometers from the center of Kyiv. Mykhailo Podolyak, an adviser to Zelenskyy, declared Friday that Kyiv is “ready to fight.”

Zelenskyy himself said Saturday that “if there are hundreds of thousands of people, who are now being mobilized by Russia, and they come with hundreds or thousands of tanks, they will take Kyiv.”

“We understand that,” he continued. “How Ukrainian people have resisted these invaders has already gone down in history. But we have no right to reduce the intensity of defense, no matter how difficult it may be for us.”

Originally published on Common Dreams by JAKE JOHNSON and republished under a Creative Commons (CC BY-NC-ND 3.0)

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News, Observation, Politics

Mass Anti-War Protests Held Across Europe as Russia’s Assault Continues

March 13, 2022 Creative Commons

In addition to protests in Berlin and London, people also took to the streets in occupied Ukrainian cities and in Moscow, despite the threat of arrest.

Tens of thousands of people took to the streets to join anti-war demonstrations across Europe on Sunday as Russia continued its deadly assault on Ukraine, bombarding major cities and intensifying a humanitarian crisis that is having reverberating effects worldwide.

In addition to protests in Berlin, London, Warsaw, and Madrid—where participants carried signs and banners that read “Stop the War” and “Peace and Solidarity for the People in Ukraine”—demonstrations also sprang up on a smaller scale in occupied Ukrainian cities and in Moscow, despite the threat of arrest and police brutality.

Thousands of Russian anti-war protesters have been detained and abused by law enforcement since the invasion of Ukraine began on February 24, according to human rights organizations.

Despite threat of arrest, kidnapping and worse, Ukrainians in their thousands still come out to protest against occupying Russian forces. This latest video from Berdyansk on the Azov coast. pic.twitter.com/AFUf2bz0Wa
— Oliver Carroll (@olliecarroll) March 13, 2022

The demonstrations Sunday came amid some signs of diplomatic progress in talks between Russia and Ukraine, which have been negotiating on the border of Belarus since the early days of the invasion.

Mykhailo Podolyak, an adviser to Ukrainian President Volodymyr Zelenskyy, said Sunday that Russia is “beginning to talk constructively” and predicted that “we will achieve some results literally in a matter of days.”

Leonid Slutsky, a Russian delegate to the negotiations with Ukraine, echoed his counterpart’s assessment.

“According to my personal expectations, this progress may grow in the coming days into a joint position of both delegations, into documents for signing,” Slutsky told reporters Sunday, without offering specifics on what an agreement would entail.

Seemingly positive developments in diplomatic talks came as Russia showed no sign of easing its attack, which has forced more than 2.5 million people to flee Ukraine and internally displaced millions more.

Zelenskyy said Saturday that around 125,000 people have been able to escape through humanitarian corridors established in besieged cities, but hundreds of thousands remain trapped in Mariupol and other areas facing heavy shelling from Russian forces.

Early Sunday morning, Russia bombed a Ukrainian military facility located just 22 miles from the border of Poland, a NATO member. The airstrike, believed to be Russia’s westernmost attack on Ukraine thus far, killed dozens of people and wounded more than 130 others.

The Associated Press reported that “continued fighting on multiple fronts heaped further misery on the country Sunday and provoked renewed international outrage.”

Brent Renaud, an American journalist who had previously contributed to the New York Times, was killed by Russian forces in the town of Irpin, Ukrainian authorities said Sunday. A second journalist who was traveling with Renaud was reportedly injured.

“We are shocked and saddened to learn of the death of U.S. journalist Brent Renaud in Ukraine,” Carlos Martinez de la Serna of the Committee to Protect Journalists said in a statement. “This kind of attack is totally unacceptable, and is a violation of international law. Russian forces in Ukraine must stop all violence against journalists and other civilians at once, and whoever killed Renaud should be held to account.”

According to the United Nations, at least 549 civilians have been killed and nearly 1,000 have been wounded since Russia invaded Ukraine—estimates that are believed to be significant undercounts.

Local Ukrainian officials said Sunday that 2,187 civilians have been killed in Mariupol alone since the start of Russia’s attack.

Originally published on Common Dreams by JAKE JOHNSON and republished under a Creative Commons (CC BY-NC-ND 3.0)

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Business, Economics, News, Observation, Politics

700 US Billionaires Got $1.7 Trillion Richer During Two Years of Pandemic

March 11, 2022 Creative Commons

A new analysis finds that the 704 billionaires in the U.S. now own more wealth than the bottom half of Americans—roughly 165 million people.

During the first two years of the coronavirus pandemic, the collective wealth of billionaires in the United States grew by a staggering $1.7 trillion as Covid-19 killed millions of people across the globe and threw entire nations into turmoil, worsening extreme poverty, hunger, and other preexisting crises.

“We can’t accept an economy and tax code that allows billionaires to hoard trillions while working families struggle.”

Released Friday to coincide with the second anniversary of the World Health Organization’s official pandemic declaration for Covid-19, the latest billionaire fortune analysis by Americans for Tax Fairness (ATF) finds that the 704 billionaires in the U.S. now own more combined wealth than the 165 million people in the bottom half of the country’s wealth distribution.

“For billionaires, it’s been two years of raking in the riches, while for most families it’s been two years of fear, frustration, and financial worry,” ATF executive director Frank Clemente said in a statement.

The new analysis stresses that billionaires’ pandemic windfall “may never be taxed” because it consists of unrealized capital gains, which are not subject to taxation under current U.S. law. As one possible solution, ATF voices support for Sen. Ron Wyden’s (D-Ore.) proposed Billionaires Income Tax, legislation that would impose an annual levy on ultra-wealthy Americans’ unrealized gains from tradable assets such as stocks.

“The rising asset values billionaires have enjoyed over the past two years are not taxable unless the assets are sold,” ATF explains. “But billionaires don’t need to sell assets to benefit from their increased value: they can live off money borrowed at cheap rates secured against their rising fortunes. And when all those wealth gains are passed along to the next generation, they entirely disappear for tax purposes.”

This is why we need Congress to pass a Billionaires Income Tax.

It will tax billionaire wealth gains every year, just like workers’ wages are taxed. And it would raise $557 billion—more than enough to cover the historic clean energy investments @POTUS has proposed, for example.
— Americans For Tax Fairness (@4TaxFairness) March 11, 2022

While Democrats in Congress considered a tax on billionaires as part of their Build Back Better package, that legislation was tanked by a handful of corporate Democrats—including Sen. Joe Manchin (D-W.Va.)—and a unified Republican caucus.

“Why should our economic system allow billionaires to hoard wealth unchecked, letting almost all of it go tax-free?”

Earlier this month, Manchin floated a further watered-down version of the Build Back Better proposal that calls for tax reforms targeting the wealthy and corporations, but it’s unclear whether the West Virginia Democrat would accept a tax on billionaires.

“Working families pay what they owe in taxes each paycheck. Billionaires generally pay little or nothing in taxes on these extraordinary gains in wealth,” Clemente said Friday. “Congress should enact a Billionaires Income Tax to directly tax these wealth gains as income each year, so that billionaires begin to pay their fair share of taxes. Such a reform is not yet part of President Biden’s investment and tax legislation now being revised by Congress, but it should be.”

According to ATF’s new analysis, the biggest billionaire winners during the coronavirus pandemic’s first two years were:

Tesla and SpaceX CEO Elon Musk, who saw his net worth skyrocket by $209 billion;
Google co-founder Larry Page, whose fortune grew by $63 billion; and
Google co-founder Sergey Brin, whose wealth increased by $60 billion.

“Not one of the 15 richest U.S. billionaires gained less than $10 billion,” ATF noted on Twitter, pointing out that during the same two-year period 80 million Americans were infected by Covid-19 and nearly a million were killed by the virus.

“We can’t accept an economy and tax code that allows billionaires to hoard trillions while working families struggle to afford healthcare, childcare, education, and housing,” the group added. “It’s wrong, and we can do better.”

Originally published on Common Dreams by JAKE JOHNSON and republished under Creative Commons (CC BY-NC-ND 3.0

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Earth and Ecology, Lifestyle, News, Observation, Politics

Petition Calls on Biden to Go Beyond Reversing Trump Policies to ‘Save Life on Earth’

March 10, 2022 Creative Commons

“Extinction is not inevitable—it is a political choice,” says a new petition calling for bold changes to the Endangered Species Act.

The Center for Biological Diversity on Tuesday laid out a comprehensive case for the Biden administration to go far beyond simply mending the damage done by President Donald Trump to the Endangered Species Act, calling on officials to strengthen the law “to save life on Earth from the extinction crisis.”

In a legal petition, the organization made the case that the U.S. Fish and Wildlife Service and the National Marine Fisheries Service must not only fully implement the Endangered Species Act (ESA) but also add new provisions to the law to counter “years of overt political and industry pressure designed to weaken the Act.”

The petition argues erosion of the landmark legislation has left implementation of the Act “no longer primarily driven by the best science or conservation principles” but instead “by avoiding political controversy.”

“Combating the extinction crisis and restoring our natural heritage are monumental challenges that will require the services to be more visionary than any other administration in history,” said Stephanie Kurose, senior policy specialist at CBD. “We challenge Interior Secretary Deb Haaland and the Biden administration to change the status quo and do whatever it takes to protect our planet for future generations.”

Extinction is a political choice, not an inevitable fact. After years of succumbing to political and industry pressures, @USFWS & @NOAAFisheries must choose to strengthen the Endangered Species Act, undo Trump-era rollbacks and help save life on earth. https://t.co/4gO3G9q55s pic.twitter.com/oBqcxbfA93
— Center for Biological Diversity (@CenterForBioDiv) March 8, 2022

Under the Trump administration, CBD said in the 50-page legal filing, officials “caused unprecedented damage to the Act” by gutting a rule which provided threatened species and endangered species with the same level of protection and issuing guidance which said the USFWS need not tell landowners that they need a permit if their activities will harm species, among other rollbacks.

“The United States can prevent future extinctions, but it must take swift action that matches the extent and scale of the problem.”

The Biden administration has taken “sluggish” steps to restore the protections stripped by former President Donald Trump, said CBD, including rescinding two regulations which limited habitat protections for endangered species.

However, wrote the group, “the extensive damage done during Trump’s four years in office must be put in the context of a law that was already not being fully enforced.”

“We need a U.S. Fish and Wildlife Service that holds the line, not one that compromises in the face of political pressure,” tweeted Noah Greenwald, endangered species program director for CBD.

Federal agencies must strengthen enforcement of the ESA, ensure accountability for extractive industries that harm habitats, and “holistically address the threat of climate change,” said the group.

Specifically, the petition calls for:

Empowering career scientists to make science-based decisions without fear of political reprisal;
Guaranteeing that federal agencies can no longer ignore the impacts of greenhouse gas emissions from their actions on climate change and climate-imperiled species;
Strengthening protections for critical habitat to protect key areas where species can live;
Creating a scientifically defensible definition of recovery;
Defining “significant portion of its range” to fulfill Congress’ intent that species be protected before they are threatened with worldwide extinction;
Requiring all federal agencies to have proactive conservation programs in place for listed species harmed by their actions;
Requiring habitat conservation plans to confer a net benefit whenever development activities harm endangered species;
Strengthening protections for foreign listed species;
Strengthening the regulations governing the reintroduction of experimental populations; and
Revamping the enhancement permitting program to address dubious trophy hunting practices overseas that do not actually enhance the survival or propagation of species.

“Extinction is not inevitable—it is a political choice,” wrote CBD. “The United States can prevent future extinctions, but it must take swift action that matches the extent and scale of the problem.”

Originally published on Common Dreams by JULIA CONLEY and republished under a Creative Commons license (CC BY-NC-ND 3.0)

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Climate Solutions, News, Observation, Politics

Groups Urge Biden to Invoke Defense Production Act to Counter Putin, Accelerate Green Transition

March 10, 2022 Creative Commons

“A renewable energy future,” the groups wrote, “is a peaceful and ultimately more prosperous one.”

A coalition of over 200 groups on Wednesday called on President Joe Biden to leverage his authority under the Defense Production Act to simultaneously “produce alternatives to fossil fuels, fight the climate emergency, combat Putin’s stranglehold on the world’s energy economy, and support the transition to a renewable and just economy.”

“With one fell swoop, you would reduce energy costs and move the world away from fossil fuel markets that are all too easily manipulated by bad actors.”

The demand was delivered in a letter to Biden—signed by groups including the Center for Biological Diversity, Global Witness, and Stand.earth—and follows the administration’s move Tuesday to ban U.S. imports of Russian fossil fuels in response to Russia’s ongoing military attack on Ukraine.

The groups thank Biden for that immediate ban and say it must be followed not by “short-sighted policies” like ramping up domestic drilling, as the U.S. fossil fuel lobby and industry supporters like Sen. Joe Manchin (D-W.Va.) have called for, because that would worsen the climate emergency and “deepen our dependence on fuels that lead to global instability.”

“Oil and gas constitute 40% of Russia’s national revenue, meaning Russian exports of oil and gas are literally funding this invasion,” the letter states.

Ramping up fossil fuel extraction and use would also worsen the climate crisis, the groups note, referencing the latest Intergovernmental Panel on Climate Change report releasedlast week showing that “natural and human systems” are being driven “beyond their ability to adapt.”

What is needed instead, the letter states, is a massive surge in the deployment of renewable energy.

Biden can lead that effort by utilizing the Defense Production Act (DPA), with specific actions on three fronts, all of which should center communities most impacted by the current fossil fueled-based system. The letter calls on the president to:

Rapidly scale up production, manufacturing, and deployment of renewable energy technologies, heat pumps, storage, and weatherization technologies here and abroad. These green technologies can be exported to Ukraine, the rest of Europe, and the Global South to help wean them off of their dependence on Russian fossil fuels. And they should be simultaneously deployed across the United States to jumpstart the renewable energy revolution and prioritize construction in climate-vulnerable communities. With one fell swoop, you would reduce energy costs and move the world away from fossil fuel markets that are all too easily manipulated by bad actors.
Create millions of long-term, high-paying domestic jobs and position the U.S. to be a global leader in showcasing the economic benefits of the just and renewable energy transition. Investments by the federal government can create high-quality, family-supporting jobs; and build worker power by including high-road labor standards.
Accelerate the transition to zero-emission public transportation, alternatives to car based transportation and related infrastructure domestically, and deploy it nationwide, prioritizing communities who are most vulnerable to the climate emergency. These steps will reduce the burden of higher gas prices at the pump for U.S. residents.

“A renewable energy future,” the groups wrote, “is a peaceful and ultimately more prosperous one.”

Climate advocates have previously linked Russia’s military attack on Ukraine with reliance on fossil fuels.

American author and climate activist Bill McKibben, for example, wrote last month in his newsletter The Crucial Years that “it is a war underwritten by oil and gas” and urged Biden to invoke the DPA to produce “electric heat pumps in quantity, so we can ship them to Europe where they can be installed in time to dramatically lessen Putin’s power. “

Fridays for Future youth activists also took to the streets of cities across the globe last week to #StandWithUkraine and heed a call from the Ukrainian arm of the global climate movement.

In a series of tweets last Thursday, the day of the demonstrations, the global group called this “an eye-opening moment for humanity to see that the world is aflame with new and old wars caused by fossil fuels.”

“We want to call out the era of fossil fuel, capitalism, and imperialism that allows these systemic oppressions,” they said. “We demand a world where leaders prioritize #PeopleNotProfit.”

Originally published on Common Dreams by ANDREA GERMANOS and republished under a Creative Commons license (CC BY-NC-ND 3.0)

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Health, Lifestyle, News, Observation

Is ‘headline stress disorder’ real? Yes, but those who thrive on the news often lose sight of it

March 9, 2022 Creative Commons

It began with a basic “news you can use” feature from National Public Radio. Titled “5 ways to cope with the stressful news cycle,” producer Andee Tagle’s piece, published in late February, offered tips on how to cope with anxiety caused by news consumption in tense times.

Among Tagle’s tips: “Do something that feels good for your body and helps you get out of your head.” Also: “The kitchen is a safe space for a lot of us. Maybe this is the weekend that you finally re-create Grandpa’s famous lasagna … or maybe just lose yourself in some kitchen organization.”

Tagle’s simple self-help counsel quickly ignited social media scorn, seemingly touching a nerve among numerous commentators.

National Review’s Dan McLaughlin tweeted that the piece indicated that NPR employees “really do not envision their audience as grown adults.”

“I’m all for mental health awareness and therapeutic care,” tweeted Daily Beast editor Anthony Fisher, before ultimately dismissing Tagle’s article as “a lifestyle guide for narcissists.”

The piece and its condemnation raise issues involving research about the mental and psychological toll of everyday news consumption that’s gone largely unnoticed by the public over the last few years. Recent surveys and research on the subject have only occasionally been publicized in the general press. The COVID-19 global pandemic – and the doomsday news reports it sparked – attracted a bit more attention to this research.

Yet the mental and psychological toll of news consumption remains largely unknown to the general news consumer. Even if the research isn’t widely known, the emotions felt by what one Northwestern University Medical School article called “headline stress disorder” probably exist for an certain unknown proportion of news consumers. After all, if these feelings didn’t exist for at least some of their listening audience, NPR would never have published that piece. Nor would Fox News have published a similar article to help its viewers cope.

News threatens mental stability

The idea that more news, delivered faster through new and addicting technologies, can cause psychological and medical harm has a long history in the United States.

Media scholars like Daniel Czitrom and Jeffrey Sconce have noted how contemporaneous research linked the emergence and prevalence of neurasthenia to the rapid proliferation of telegraphic news in the late 19th century. Neurasthenia is defined by Merriam-Webster as “a condition that is characterized especially by physical and mental exhaustion usually with accompanying symptoms (such as headache and irritability).” Early 19th-century scientific exploration in neurology and psychiatry suggested that too much news consumption might lead to “nervous exhaustion” and other maladies.

In my own research into social psychology and radio listening, I noticed the same medical descriptions recurring in the 1920s, once radio became widespread. News reports chronicled how radio listening and radio news consumption seemed to threaten some people’s mental stability.

One front-page New York Times article in 1923 noted that a woman in Minnesota was divorcing her husband on the then-novel grounds that he suffered from “radio mania.” The wife felt her husband “paid more attention to his radio apparatus than to her or their home,” which had apparently “alienated his affection” from her.

Similar reports of addiction, mania and psychological entanglement spawned by new media emerged again as television proliferated in the American home in the 1950s, and again with the proliferation of the internet.

The public discussion of psychological addiction and mental harm caused by new technologies, and the ensuing moral panics they spawn, appears periodically as new communication technologies emerge. But, historically, adjustment and integration of new media occurs over time, and disorders such as neurasthenia and “radio mania” are largely forgotten.

Anxious about frightening news

“Headline stress disorder” might sound ridiculous to some, but research does show that reading the news can make certain subsets of news consumers develop measurable emotional effects.

There are numerous studies looking into this phenomenon. In general, they find some people, under certain conditions, can be vulnerable to potentially harmful and diagnosable levels of anxiety if exposed to certain types of news reports.

The problem for researchers is isolating the exact subset of news consumers this happens to, and describing precisely the effect that occurs in response to specific identified news subjects and methods of news consumption.

It is not only probable, but even likely, that many people are made more anxious by the widespread distribution of frightening news. And if a news consumer has a diagnosed anxiety disorder, depression, or other identified mental health challenge, the likelihood that obviously distressing news reports would amplify and inflame such underlying issues seems almost certain.

Just because popular culture manages to pathologize much of everyday behavior doesn’t mean identified problems aren’t real, as those skewering the NPR story implied.

We all eat; but some of us eat far too much. When that occurs, everyday behavior is transformed into actions that can threaten health and survival. Likewise, most of us strive to stay informed, but it’s likely that in certain situations, for certain people, staying informed when the news is particularly frightening can threaten their mental health.

Therefore, the question is not whether the problem is real, but how research might quantify and describe its true prevalence, and how to address the problem.

And that’s precisely why the NPR article caused such a stir. Many people who consume news without problem couldn’t fathom why others might benefit from learning how to cope with “headline stress disorder.”

In reality, the criticism aimed at NPR says nothing about those who find our current run of bad news particularly anxiety provoking. It does say a lot about the lack of empathy from those who would scoff at the idea.

Michael J. Socolow, Associate Professor, Communication and Journalism, University of Maine

This article is republished from The Conversation under a Creative Commons license. Read the original article.

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