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June 6, 2014

Report: CT Loses $600M In Tax Revenue When Corporations Shift Profits

by Madeline Stocker | June 6, 2014 6:11am

Courtesy of ConnPIRG Seventy two percent of Fortune 500 companies avoid approximately $90 billion in taxes by booking profits to subsidiaries registered in offshore tax havens, according to a report from the ConnPIRG Education Fund and Citizens for Tax Justice. Each year, offshore tax loopholes used by U.S. multinational corporations cost Connecticut $600 million in state tax revenue.

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April 18, 2014

OP-ED | Are Wall Street Values Right for Schools?

by Sarah Darer Littman | April 18, 2014 8:00am

Last week on a flight back from England, I read Michael Lewis’ latest book, Flash Boys: A Wall Street Revolt. I found myself highlighting passages, struck by parallels with the corporate education reform movement. It’s not surprising as both industries involve players from high tech and hedge funds — and, of course, the politicians who enable them.

Upon reading this quote from Constantine Sokoloff, a Russian who helped develop NASDAQ’s matching system for buyers and sellers: “The old Soviet educational system channeled people away from the humanities and into math and science,” a political sound bite started playing in my head:

“The president and I believe that ensuring our nation’s children are excelling in the STEM fields is essential for our nation’s prosperity, security, health and quality of life . . . All of us need to be engaged in task of improving STEM education. Business leaders and major donors are leading the way, and leaders from other sectors need to join them.” US Secretary of Education Arne Duncan, November 2009

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