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Most companies in U.S. avoid federal income taxes

Two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, according to a new report from Congress.

The study by the Government Accountability Office, expected to be released Tuesday, said about 68 percent of foreign companies doing business in the U.S. avoided corporate taxes over the same period. Collectively, the companies reported trillions of dollars in sales, according to GAO's estimate.

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Our $100 Trillion National Debt

Most likely, the US will simply continue into bankruptcy. This is the most common pathway for nations with fiat currencies and unchecked ruling classes. But let’s assume that somehow a Clone Army of 435 Ron Pauls gets into Congress, while genetic technology brings back Jefferson and Gallatin to their old offices. Can the US be made solvent again?

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The High Cost of a ‘Free Credit Report’

While he believed he had signed up for a free report, he had actually enrolled in a credit-monitoring service that cost $14.95 a month. He says he never expected that it would cost anything.

“It’s called FreeCreditReport.com,” he said. “It’s kind of easy to make that assumption. I didn’t see anything in the process of signing up that said, ‘Hey, if you don’t cancel in 30 days or whatever, you’re going to get charged.’ ”

Consumer groups have long objected to sites like FreeCreditReport.com. Consumers may obtain a free credit report each year from the three major agencies, as mandated by an act that Congress passed in 2003. The only authorized site for that is AnnualCreditReport.com.

The three major credit bureaus, Experian, Equifax and TransUnion, are required to offer reports through the authorized AnnualCreditReport.com, but the bureaus also make money from their own credit reports.

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How Washington is Fooling You: Manipulated Employment Data

The government and related agencies are responsible for reporting the nation's economic data. Thus, they're in the driver's seat to manipulate this data, while dumping so much of it onto consumers that they can't possibly analyze what's really going on. Each day, “critical” economic numbers are released by one or more agencies connected to Washington . And consumers look to Wall Street and the media to make heads or tails of this data. Of course, Wall Street is always going to paint a rosier picture for its own benefit. Meanwhile, the mainstream media merely serves as a puppet for Wall Street.

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Rent-back schemes 'rob thousands of homes'

Tens of thousands of vulnerable people are being forced to sell their homes at rock-bottom prices through controversial 'sale-and-rent-back' schemes to avoid repossession, according to a study by Shelter, the homeless charity.

The schemes are part of an unregulated industry worth £2.5bn a year. Homeowners are typically offered a lump sum for their properties - usually between 70 and 90 per cent of its value - and told they can stay in their homes providing they keep up payments. But Shelter said most firms only allowed tenants to remain for a matter of months before insisting on selling.

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Taxpayers handing $33 bln to oil companies

Even though it is already experiencing record profits, the oil and gas industry is set to receive at least $33 billion in handouts from taxpayers over the next five years, according to a new analysis released today by Friends of the Earth.

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Struggling College Students Turn to Food Banks

There's definitely been an increase in usage and demand. We're seeing more and more students that have never used the pantry before."

In the past year, the price of groceries has jumped nearly 5 percent, the highest increase in nearly two decades. The cost of some staples has shot up by more than 30 percent.

TVNL Comment: Another Bush legacy.

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