tv Boom Bust RT May 26, 2018 8:30am-9:01am EDT
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most americans have no idea. so the mainstream media feels no pressure group through expose the illegality of what the united states is doing in yemen the illegalities of this atrocious war. eighty six palestinian demonstrators were injured in violence on the gaza border on friday it's the eighth week of anti occupation protests known as the great march of return him cooter a has been following events oh. oh oh oh oh oh oh oh oh oh oh oh oh oh oh. oh oh oh. oh oh oh. oh oh oh since the beginning of the great march of return on the thirtieth of marked a clean and nine thousand palestinian protesters have been injured with live
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ammunition tear gas canisters and other weapons that israeli forces have been using against the palestinian protesters and sends the last the last death throes of today is one hundred fifteen palestinian protesters were killed as you see tensions are rising the palestinian protesters are throwing rocks and the israeli forces are i really acting to these are rocks with live ammunition and i can clearly see that it's ready. and we can hear also the live ammunition they're stationed right here we can see like at least eight there israeli soldiers who were trying to walk towards the fence there are also other ambulances here ready to take any injury it's very obvious that's palestinians will continue to protest and want to give up on protesting. the israeli defense forces detention defended their handling of the protesters they said in a tweet that the use of riots dispersal means and fire is in line with standard
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procedures just hours before friday's demonstrations israel's supremum court rejected a petition by human rights groups against the use of lethal military force targeting unarmed protesters in gaza and the ruling judges also rejected the idea that the demonstrations have been paced full claiming the situation amounts to an armed conflict against term us which israel sees as a terror group the decision has outraged human rights groups these really supreme courts completely ignored the broad factual basis presented to it by the petitioners which includes multiple testimonies of wounded and reports of international organizations involved in documenting the killing and wounding of unarmed protesters in gaza since the protests began on march thirtieth israeli forces have killed at least one hundred palestinians. oh. god
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yeah but yet not. going to belittle the articles that. oh. there. is none of it i started out there's. nothing. there. are. there. we use this kind of visitors by that is read don't go since some. of the artists trying to humiliate the system against the c.d.'s we have this many times and we are now we have video you see this concerns of all the lives of the silliness more and more sold this is one kind of encourage one thing greenlighted the israeli. should the should think the worst in civilians the only sure thing also killing so
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this is the time that the international community in order to be on the side of the palestinian civilians against such a good violations committed by the israeli. court and israeli military still to come on its international tests on shellfish in waters off west coast america reveal the extent of prescription drug use in the u.s. but details for you off the plane stay with us. i've been saying the numbers mean something they matter the u.s. has over one trillion dollars in debt more than ten dollars fine champion each day . eighty five percent of global wealth he longs to be all for the rich eight point six percent market saw thirty percent just last year some with two hundred to five hundred three per cent for sure and. rose to twenty thousand dollars. china's
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building two point one billion dollars a all you industrial park but don't let the numbers overwhelm. the only numbers you need remember one one doesn't go forward commit to one and only. twenty five years ago companies go public as a way to expand there would be a viable corporation you have to meet certain criteria for being a bible corporation and then you are allowed to go public now there are no such criteria so if you're essentially burning through cash and going bankrupt you're using the public marketplace to bail out a losing position. welcome back now there are enough opioids in the waters off seattle on the west coast of america the shellfish that have tested positive for the drugs scientists say for
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frank reflects the high number of people in the surrounding area who take the substance. what we eat and what we excrete goes into the puget sound telling me that there's a lot of people taking arctic zero down in the you know in the puget sound area it's coming likely from the wastewater treatment plants clean muscles were persons who more than a dozen locations in puget sound three of them that were later confirmed to be contaminated waste water management can't filter out the opioids the muscles are unable to metabolize the drug but other sea life can and may become addicted this is the first time scientists have discovered the drugs in shellfish there and believe it highlights the extent of the nationwide opioid epidemic in the u.s. there has been more than two hundred thousand prescription overdose deaths in the u.s. since nine hundred ninety nine between that year and two thousand and sixteen overdose deaths have almost quadrupled six hundred fifty thousand opioid prescriptions are
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dispensed daily policy research andrew coloccini thinks that overprescription is behind the epidemic the real problem is not that you can detect oxy caught on in shellfish the the real problem is that over exposing the united states to this highly addictive drug has led to an epidemic of opioid addiction and overdose deaths in the united states doctors are prescribing opioids for very common problems where opioids should not be prescribed these are good medicines for treating pain at the end of life there are good medicines when used for a couple of days after major surgery but the bulk of the prescribing the bulk of the consumption in the united states is for long term common problems where opioids are much more likely to harm patients than help patients if other countries increased prescribe in the way we did in the united states i'm afraid that they will follow in our footsteps. the international economic forum in russia is
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northern capital of some petersburg wraps up today airport together. than fifteen thousand businessmen investors and politicians on friday a panel of world leaders from russia japan china and france discussed the main economic and political struggles of today in a pitcher has moved from the meeting. for a number one congress hall event was precious because rank won in one case to politicians from such a global powerhouse as france russia japan and china talked about everything there is to worry about in international politics today not behind closed doors hot and cold donald trump at one point says no to his talks to kim and decides to ditch the iranian nuclear deal and there you have it the life of vladimir putin and emmanuel
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macro thanks to the st petersburg international economic forum are sitting shoulder to shoulder and sharing their thoughts on it here's a taste of the highlights. and with sure that we have to do everything possible to save the deal the u.s. president hasn't closed the doors a negotiation he says he's dissatisfied with a number of issues in the deal but he doesn't exclude talks with iran which is a two way road the door must remain open i think not all is lost. so i could not change donald trump's decision on iran but at least try to explain that this agreement was signed using international effort i think that president trump has refused to sign the twenty fifteen agreement because it was initially signed by his predecessor who as he thinks bad by definition. shall not try to hope for peace and stability on the korean peninsula under no circumstances should we allow water break out in the region that's why we should
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promote the process of demilitarization to it just a question i asked for the summit between north korea and the u.s. i think we have to do everything to make this summit happen quicker so that many issues can be resolved. there were two thirds of the situation is that everyone plays football but they use the rules of judo that's chaos that's where we're heading to sanction bludgeon is not only being used on russia. but you have any advice in the world in terms of how to deal with president trump because you are somebody who was. associated with the election of president term but a provocator you have got nothing to do a chance election campaign and you think you are not a natural provoke a tough. decision. i believe in french foreign policy that is based on independent secure there are things that ties really closely to the u.s. like foreign security and the list goes to emanuel said that europe and the u.s.
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have mutual obligations in europe depends on the u.s. in the realm of security matters but you don't have to worry about that and it will help with the issue of. who provides security as journalists we are always happy when the movers and shakers have so many things to say about what's going on around the world but the st petersburg form is originally about business so they free as the time to take out all these digits on the many contracts that were signed here. as donald trump demands an investigation into the f.b.i. allegedly wiretapping him during his presidential election campaign left leaning journalists who traditionally criticize the intelligence agencies are now seemingly
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endorsing their role as similar conduit ports. when it comes to intelligence agencies like the cia f.b.i. n.s.a. there's always been a certain segment of the american population that question not only their credibility but their legitimacy as well but seemingly as some of those who once stood firmly against the u.s. intelligence community have become its staunchest defenders now we have this meeting to investigate the investigators there has been demanded by the president of the united states who is just himself the subject of the investigation i think that's the kind of thing that republicans in particular ought to pay attention to rather than the notion of a deep state conspiracy of which there is no evidence for that it exists meet veteran journalists carl bernstein while working for the washington post first to expose president nixon's role in the watergate scandal that eventually forced him out of office but what most people don't know about bernstein is that he wasn't
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a big fan of the u.s. intelligence community to put it lightly his parents who were new dealers actively involved in the anti segregation movement were branded communists and bernstein himself was under f.b.i. investigation after he left the washington post in seventy seven his interest in the questionable histories of these intelligence agencies proceeds and he started to look into the cia's suspiciously cozy relationship with the media and within a matter of months bernstein's groundbreaking investigation into the cia's infiltration into the media world was published in the rolling stone but bernstein who at one time was targeted by the intel community nothing but president from attacks against the f.b.i. are destroying america we are seeing a breakdown i think we may look back on tonight as as the monday night slaughter of the administration of justice in our institutions of justice for this formerly anti-establishment journalist who spent his entire career fighting the intel communities abuse of power trust presidency appears to have brought about
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a political one eighty and he's not alone. the american civil liberties union that once wants every single one of the intel previous appearances supported the f.b.i. says integrate trumps boyer's office we also believe in the rule of law is an essential foundation for civil liberties and civil rights in fact this law for the f.b.i. is pretty widespread among democrats their approval rating went up from sixty percent in twenty four to sixty nine percent in favor of two thousand and seven. i never thought that i would live to see a time when the so-called liberal democrats would be in the position of defending the us intelligence community the cia on the left it was reviled sure countless crimes and around the world of the f.b.i. and the cia have been historically sources of repression and oppression of people of color of people trying to agitate for positive change on the left of the enemies of the left they always have been distorted clee and they still are so what we have
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going on now with the trump investigation and robert mueller and this n.b.c. constantly going on and on about the f.b.i. is a sacred institution fighting for truth justice and the american way what we have going on now is a classic example of the enemy of my enemy is my friend thanks for joining us this hour nazi international will be back at the top of the hour with all the latest headlines see that. when the whole make us manufacturing sentenced to death public will. when the ruling classes protect themselves. with the financial
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this is boom bust broadcasting around the world from washington d.c. i'm bart chilton thanks for joining us up on the program today for this broadcast we do something a little different and that we're going to focus the entirety of the show on axis to help us out will be joined by the renowned professor of economics a meritless at the university of matches massachusetts richard wolfe plus the c.e.o. of straw mark hillary for which looks at the highest and lowest tax rates around the globe and we have a special panel to discuss and i bet they the new u.s.
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tax law and where it is right now plus alex one hyla bitch will tell us about one provision of the new tax law that may impact life love and even finances all that ahead on our tax themes program so let's bungle in the jungle and start with some. speaking of taxes corporate stock buybacks hit an all time record of one hundred seventy eight billion dollars in the first quarter of the year the u.s. tax reform law approved late last year cut the corporate tax rate from thirty five percent to twenty twenty one percent and has been a boon for businesses and has helped boost the overall economy but most of the benefits have been used for companies to buy back stock and. opposed to what proponents of the tax changes argued would be a benefit that would trickle down to workers and average families some are now wondering if they have been trickled upon with the release of several studies and studies showing that tax cut benefits are going predominantly to stock shareholders
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a bloomberg analysis determined that roughly sixty percent of the tax cut benefits will go to shareholders whereas employees will only receive five percent another such study by morgan stanley estimated that forty three percent of tax cut savings will go to stock buybacks and dividends and just thirteen percent to employees by way of pay raises bonuses or employee benefits. and harley davidson has announced that they are shutting down their factory in kansas city which employs eight hundred workers some of the jobs will be transferred to a facility in new york pennsylvania harley davidson is also expanding operations to highland some say the move is due to u.s. markets which is contract in recent years harley davidson has their sales have dropped by eight and a half percent sales abroad have dropped by three point nine percent the announcement of the plant closure came just days after harley davidson said they too would provide shareholder dividend increases the iconic motorcycle company was
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touted by both president trump and speaker of the house paul ryan as examples of businesses which would be big beneficiaries from the tax cut law and this is it appears that the benefits from the new law are being used to outsource jobs and pay shareholders in a contract in market. or not to tax was once upon a time undoubtedly the question but as a civil society we've want to go past the point of if there will be taxes the question by most policymakers is who or what will be taxed and how much and here to provide his seasoned and professional perspective we are joined an honored to be joined by richard wolffe a professor emeritus on economics at the university of metal because that's and her professor thank you again for being with us i'm very grateful for your time chiz they're imperfect tax a tax that is really fair and provides good for all the people.
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i doubt it and i think that taxes have been with us for a long time and that they are basically a way that we hold ourselves together as communities. cox's our recognition that some things are better done if we pool our resources together and if we go you know individually let me just give you the simplest examples if we want to have a lovely wooded area in our community to have picnics to go with our children we could each strider somehow i maintain a plot of wooded land but the absurdity of the expense is silly and so we get together pooling our resources so that we can have a central park in the middle of your or a prospect park in brooklyn or a golden gate park in san francisco that we can all enjoy and so we all kick in
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a little bit of money far far less than if we didn't buy ourselves in order to have a collective resource we couldn't otherwise really afford at least many of us couldn't most of us and the same. applies to roads and highways in our prayers and national defense and a whole lot of other things so that once you explain to people what the taxes are out basically building the institutions that serve us as a community of people they understand the logic of it and even when the paying full bill comes to pay it and the struggles begin about who should pay what only should of it that's when things get dicey and in their upset about not wanting to pay some groups begin to question the whole notion of the tax itself but as i say that's a kind of point of view that does not bear any serious investigation. what
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do you think professor are sort of let's accept that there were going to be taxed at the question of who are water how much what or what are you in your view are you looking around the world and look at the neck not economic for your whole career what are the most unfair types of taxes and where in the world do they exist today . well for me from my perspective one of the things a tax can do besides providing us collectively important resources like parks like highways like schools and all the rest of that one of the other things a tax could do is go somewhere toward alleviating aspects of our economic system that are no good in other words we can fix the broken aspects of our economy by the means of taxes and for me one of the most importance in
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holding any community together is to avoid extreme has a wealth on the one hand coupled with extremes of poverty on the other so for me one of the extra benefits of a tax is that it can do something to lessen the inequality of a society so for me the most unfair tax is that time x. that not only doesn't lessen inequality but actually makes it worse and let me give you an example here in the united states and we're not the only country of course that does this we rely on many many of our states on something called a sales tax that's for example taxing a shirt you might buy in a department store by adding five percent to whatever the price of the sugar is
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when you do that you charge exactly the same amount of money but say it's one hundred dollars shirt so then it's five percent that would be a five dollar tax you're charging the same five dollar tax to a person who hasn't very low income as you would to rockefeller are on jeffrey b.'s ost who would who count his wealth in the billions i thing. that's unfair that's a situation in which our broken part of be economy that lets some people have more money than they know what to do with while other people don't have enough food or shelter ok and pay their kids' way to college etc this isn't an unfair tax which by the way was recognized in the united states one hundred years ago when we began the income tax and we structured it as what we call eight progress of tax and what that simply means is there's the higher your income the larger the
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percentage of it you are required to pay in tax because you can no forty more you are asked to kick in more and the logic of that is again to use the tax system to offset inequalities that if you don't offset them will destroy your community create tension within it and eventually blow it up we've just got about sixty seconds but i want to try to squeeze in one more question so when you talk about wealth inequality and then various tax provisions like in the the recent tax reform law that was passed some would argue that well the wealthy are going to make all these profits and they will therefore buy a lot of shirts or buy a lot of gasoline and then the people that make the shirt for help get the ghastly they will ultimately trickle down to them how that's how is that working out so far professor. this is not work at all because it was never true it was just
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a rationalization invented by rich people so that they could continue to get a disproportionate amount of the wealth by telling us that if you do that it will trickle down to you because they will buy more the thing about rich people is they are already couldn't sue me more than most of the rest of us can make imagine and by giving even more money than them you're not going to get them to consume or you're going to get them to make a lavish investments in other parts of the world you're going to get them to do it invest in harebrained schemes of bitcoin or god knows what ever speculation that's what we've seen the tax cut the end of december for example gave more wealth to big companies who are using it to distribute to their shareholders they're not hiring workers the way they promised they would they're not giving higher wages the way they promised those promises are made to get the money into their hands and then
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they're just as quickly forgot professor emeritus in economics at the university of massachusetts richard wall we're always smarter after you have joined us our thanks thank you very much glad to do it. some companies treat their employees to perks such as sports tickets other luxury items however after passing of a new tax law some corporations are having to cut back on their gifts or take it in that workers are to correspondent ashley banks with the latest new tax laws will soon be either a limit or eliminate al many capitals game tickets and your lawyer will provide in the near future changes in the law eliminate the deduction for sports tickets concerts other client entertainment and employee meals these changes were designed to help offset corporate tax cuts according to a survey done by wall street journal including eight hundred sixty five firms forty
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five percent of those firms say they will be affected by the new tax laws forcing them to cut spending or make adjustments which will impact their employees big corporations will not feel the impact as much the cut in the corporate tax rate of twenty one percent lower the deductions value and as for small businesses their tax higher between twenty nine percent and thirty seven percent small firms also operate with thinner margins and are usually more sensitive to tax rate changes some businesses have annual client appreciation day at sporting stadiums however they may have to cancel this year due to the tax laws because under williams chief executive of a tech consulting incorporated says quote we have season rams tickets the invoice is sitting on my desk do we do this or do we not what is our return on investment joseph hine c.e.o. of voice and data networks and corporate.
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