Category Archives: Economics

‘Unacceptable,’ Advocates Say as COP16 Ends Without Biodiversity Fund Deal

“Biodiversity finance remains stalled after a deafening absence of credible finance pledges from wealthy governments and unprecedented corporate lobbying,” said one campaigner.

By Julia Conley. Published 11-2-2024 by Common Dreams

COP16 President and Minister of Environment Susana Muhamad of Colombia speaks at COP16, the international biodiversity conference. Photo: COP16

Officials at the international biodiversity conference that began in October were forced on Saturday to suspend talks without reaching an agreement on a key issue of the summit—a detailed finance plan for a dedicated biodiversity fund—after the meeting went into overtime and delegates began leaving.

The failure to reach an agreement on biodiversity finance was denounced by the head of environmental group Greenpeace’s delegation at the 16th Conference of Parties (COP16) to the United Nations Convention on Biological Diversity (CBD), which took place over two weeks in Cali, Colombia.

Continue reading
Share Button

Fearing More ‘Blatant Corruption’ in Second Trump Term, Watchdog Issues Ethics Blueprint

“Should the flagrant disregard of ethics rules return, the political opposition must use all tools at their disposal to advance ethics reforms and neutralize as much harm as possible.”

By Brett Wilkins. Published 10-31-2024 by Common Dreams

Chicago welcomes Donald Trump to town Chicago Illinois 10-28-19. Photo: Charles Edward Miller/flickr/CC

A leading U.S. watchdog group on Thursday published what it called “a blueprint for strengthening the federal government’s ethics programs across the executive, legislative, and judicial branches” amid Democrats’ inadequate reforms and the prospect of more “outright scandals and blatant corruption” under a possible second administration of former Republican President Donald Trump.

The Revolving Door Project publication—titled Rebuilding Public Trust: Six Principles to Guide Reform—notes that “Americans’ trust in government is near historic lows, a trend that both preceded and continued after the blatant corruption of the Trump administration.”

Continue reading
Share Button

‘This Is Just the Traceable Money’: $2 Billion Pumped Into 2024 Election by Billionaire Families

“It’s no secret that political spending is a huge way for billionaires to rig the system to their liking,” said Americans for Tax Fairness. “Enough is enough.”

By Julia Conley. Published 10-29-2024 by Common Dreams

Miriam Adelson at the Republican Jewish Coalition’s 2023 Annual Leadership Summit at the Venetian Convention & Expo Center in Las Vegas, Nevada. Photo: Gage Skidmore/flickr/CC

A new analysis out Tuesday shows that 150 of the nation’s wealthiest families have poured nearly $2 billion into this year’s U.S. election—the latest evidence bolstering calls for new taxes on the super rich and an end to unlimited campaign spending.

The new report from Americans for Tax Fairness, published Tuesday, shows how spending by 150 of the richest families in the U.S. has smashed campaign spending records, with $700 million more spent than the $1.2 billion that wealthy donors poured into the 2020 campaign.

Continue reading
Share Button

‘Grotesque’: Israeli Knesset Bans UN Agency in Charge of Humanitarian Aid in Gaza

“This legislation not only contravenes the basic principles of human rights that led to the U.N. General Assembly’s founding of UNRWA, but also violates a range of Israel’s international legal obligations.”

By Jessica Corbett. Published 10-28-2024 by Common Dreams

The polio vaccination campaign reached over 145,000 children in Khan Younis and Rafah, southern #Gaza, with the vaccine and 119,000 aged 2-10 with supplementary vitamin A to increase their resistance to disease.. Photo: UNRWA/Facebook

Over a year into Israel’s obliteration of the Gaza Strip, Israeli lawmakers faced sharp criticism on Monday after voting for a pair of bills targeting the United Nations agency responsible for humanitarian aid in the illegally occupied Palestinian territories.

The first bill, which says that the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) “will not operate any missions, won’t provide any service, and won’t hold any activity—directly or indirectly—in the sovereign territory of the state of Israel,” passed the Israeli parliament 92-10.

Continue reading
Share Button

Foreign countries are helping autocracies repress exiled dissidents in return for economic gain

By Rebecca Cordell and Kashmiri Medhi Published 10-25-2024 by The Conversation

Demonstrators for Tibetan and Uyghur self-determination in front of China’s embassy in Washington DC. in 2008 Photo: futureatlas.com/flickr/CC

Governments, even democratic ones, are willing to aid autocracies in silencing exiled dissidents if the host nation thinks it’s in its economic interest.

That is what we found when looking into cases of transnational repression – the act of governments reaching across their national border to repress diasporas and exiles – from 2014 to 2020.

Since 2014, international watchdog Freedom House recorded 1,034 cases of governments reaching across borders to illegally deport, abduct, intimidate or assassinate their citizens.

Continue reading
Share Button

This US election marks a fork in world history

Both Trump and Harris are products of 1960s American politics – and that matters for what they stand for

By Anthony Barnett. Published 10-24-2024 by openDemocracy

Image: Public Policy Institute of California

With the recent deployment of the US’s most advanced anti-missile system to Israel, manned by American troops, it looks ever more likely that the US is preparing for war with Iran. Meanwhile, Israeli Prime Minister Netanyahu may be planning an ‘October surprise’ in order to sway the upcoming presidential election in favour of Donald Trump. In such circumstances it seems sensible to hold off speculating on the future of America and the world until after the November election.

But this is also a special moment of high anxiety. We face what may be a definitive turning point in modern history. Personally, I feel my entire political life is on the block. It’s a strange sensation; one that combines a feeling of vindication that I’ve been right all along even as I sense the axe blade of modern fascism above my neck about to sever any hope for a progressive future.

Continue reading
Share Button

‘We’re Playing With Fire’: World on Track for ‘Catastrophic’ 3.1°C of Warming

“Closing the emissions gap means closing the ambition gap, the implementation gap, and the finance gap,” said U.N. Secretary-General António Guterres. “Starting at COP29.”

By Brett Wilkins. Published 10-24-2024 by Common Dreams

Carbon emissions and haze are seen near factories and a power plant. (Photo: Pixabay/Creative Commons)

The world’s nations must commit to dramatically slashing greenhouse gas emissions in the near future or risk a “catastrophic” rise in global average temperatures, a key United Nations climate report published Thursday warned.

“It is still technically possible to meet the 1.5°C goal” set out in the Paris agreement, “but only with a G20-led massive global mobilization to cut all greenhouse gas emissions, starting today,” the United Nations Environmental Program (UNEP) said in a summary of its annual Emissions Gap Report.

Continue reading
Share Button

Watchdog Files FEC Complaint Over Elon Musk Effort to Buy Voters

Musk’s latest attempt to aid Donald Trump “appears to veer smack dab into violating federal law against paying people to register and vote,” said Public Citizen.

By Julia Conley. Published 10-23-2024 by Common Dreams

Screenshot: Exotic Vietnam/YouTube

Billionaire entrepreneur Elon Musk may be able to “throw his money around in an attempt to directly influence the outcome of this election,” as one legal expert said of his latest ploy to help Republican presidential nominee Donald Trump, but consumer advocacy watchdog Public Citizen on Wednesday said Musk has crossed a legal line in recent days by offering voters direct cash payments in exchange for signing a petition.

The group filed a formal complaint with the Federal Election Commission (FEC) over Musk’s pledge to award a randomly selected registered voter in a swing state with $1 million each day until Election Day, if they sign a petition in favor of the First and Second Amendments.

Continue reading
Share Button

Outrage as GOP AGs Argue Fewer Pregnant Teens Deprive States of Population Increases

“This is what potentially winning right-wing legal cases read like these days,” said one progressive activist. “Dark stuff.”

By Julia Conley. Published 10-22-2024 by Common Dreams

Rally for Abortion Rights & march through downtown Chicago on May 7th, 2022 Photo: SHYCITYNikon/flickr/CC

Opinion polls have repeatedly made clear that U.S. voters are turned off by the Republican Party’s fixation on banning abortion care and controlling Americans’ reproductive choices—but that didn’t stop three GOP officials from writing in a court filing this month that they want to restrict abortion pill access because it would reduce teen pregnancy rates in their state.

“In my expert legal opinion, this is deeply gross and weird,” wrote attorney and writer Madiba K. Dennie on Monday at Balls & Strikes, a news outlet focused on the judiciary.

Continue reading
Share Button

Right-Wing Think Tank Finds Trump Plans Would Wreck Social Security

The Committee for a Responsible Federal Budget estimated that Republican nominee Donald Trump’s campaign proposals “would dramatically worsen Social Security’s finances.”

By Jake Johnson. Published 10-21-2024 by Common Dreams

Photo: AFGE/flickr/CC

Republican nominee Donald Trump’s claim that he wants to “fight for and protect Social Security” was called into further question Monday after a conservative think tank released an analysis projecting that the former president’s economic proposals and mass deportation plan would significantly damage the New Deal program’s finances.

The new analysis from the Committee for a Responsible Federal Budget (CRFB) specifically focuses on Trump’s proposals to end taxes on tips, Social Security benefits, and overtime pay; implement sweeping tariffs on imports; and launch what he’s described as the “largest domestic deportation operation in American history.”

The think tank projected that, if enacted, Trump’s agenda would “increase Social Security’s 10-year cash shortfall by $2.3 trillion through FY 2035” and “lead to a 33% across-the-board benefit cut in 2035, up from the 23% [the Congressional Budget Office] projects under current law.”

Trump’s plans would also “increase Social Security’s annual shortfall by roughly 50% in FY 2035” and “advance insolvency by three years, from FY 2034 to FY 2031.”

“Trump has said he would close Social Security’s long-term shortfall by increasing drilling for oil and natural gas and by growing the economy,” the analysis notes. “However, we’ve shown that increased energy exploration is unlikely to have a meaningful effect on Social Security—even if the gains were deposited into the trust fund. We’ve also shown that it would require unrealistically fast economic growth to close Social Security’s existing long-term funding gap.”

Social Security Works (SSW), a progressive advocacy group that supports expanding the New Deal program, highlighted CRFB’s analysis in a social media post on Monday, writing, “Donald Trump plans to slash $2.3 TRILLION from Social Security while giving massive tax handouts to Wall Street billionaires.” (The Social Security Works Political Action Committee has endorsed Democratic nominee Kamala Harris for the presidency.)

 Max Richtman, president and CEO of the National Committee to Preserve Social Security and Medicare—which endorsed Harris in July—said it is “not surprising that Donald Trump’s ill-conceived plans would devastate the financial health of Social Security and lead to huge benefit cuts.”

“Trump’s plans are of a piece with his overall recklessness with Social Security. He suspended the payroll tax that funds the program during Covid—and hoped it would be eliminated,” said Richtman. “His White House budgets would have slashed Social Security Disability Insurance (SSDI) by billions of dollars. He said earlier this year that he was ‘open’ to ‘cutting entitlements,’ then tried to walk it back. He once called Social Security a ‘Ponzi Scheme.’ Time and again, Trump has chosen political expediency without considering—or caring about—the consequences. Despite his posturing, Donald Trump is no friend to Social Security or American seniors.”

In a footnote of its analysis, CRFB states that Harris’ proposals thus far “would not have large effects on Social Security trust fund solvency.”

The Harris campaign quickly seized on CRFB’s findings. Joseph Costello, a spokesperson for the Harris campaign, said in a statement Monday that “Donald Trump’s agenda poses an imminent threat to Social Security, and seniors could have their benefits cut by a third.”

“This is yet another reason that Americans simply cannot afford the risk of another Trump term, where he would pursue unchecked power to use his Project 2025 agenda to hurt the American people,” said Costello. “Vice President Harris is committed to protecting Social Security benefits and is the only candidate who will actually fight for seniors, not just pay them lip service on the campaign trail.”

According to the latest report from Social Security’s Board of Trustees, the program is currently positioned to fully pay all benefits and administrative costs until 2035. Thereafter, even if Congress does nothing to shore up the program, it would be able to pay 83% of scheduled benefits.

To bring in more revenue and ensure Social Security’s solvency through the end of the century, progressives in Congress have called for raising or scrapping the payroll tax cap, which allows the rich to stop contributing to the program just weeks into each year while ordinary Americans pay in year-round.

The Harris campaign has broadly signaled support for that approach, saying in its economic policy platform that the Democratic nominee would “shore up Social Security and Medicare so that these essential programs will stay solvent in the long run by making corporations and the wealthiest Americans pay their fair share in taxes.”

This work is licensed under Creative Commons (CC BY-NC-ND 3.0)

Share Button