News StoriesExcerpts of Key News Stories in Major Media
Note: This comprehensive list of news stories is usually updated once a week. Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.
The overpowering earthquake and tsunami that ripped through northern Japan in March 2011 took so much from Tatsuo Niitsuma, a commercial fisherman in this coastal city in Fukushima Prefecture. Now, nearly nine years after the disaster, Mr. Niitsuma, 77, is at risk of losing his entire livelihood, too, as the government considers releasing tainted water from a nuclear power plant destroyed by the tsunami’s waves. Prime Minister Shinzo Abe’s cabinet and the Tokyo Electric Power Company — the operator of the Fukushima Daiichi plant, where a triple meltdown led to the worst nuclear crisis since Chernobyl — must decide what to do with more than one million tons of contaminated water stored in about 1,000 giant tanks on the plant site. On Monday, Japan’s Ministry of Economy, Trade and Industry proposed gradually releasing the water into the ocean or allowing it to evaporate. For years, the power company, known as Tepco, said that treatment of the water ... was making it safe to release. But it is actually more radioactive than the authorities have previously publicized. Officials say that it will be treated again, and that it will then be safe for release. Regardless of government assurances, if the water is discharged into the sea, it will most likely destroy the livelihoods of hundreds of fishermen like Mr. Niitsuma. Consumers are already worried about the safety of Fukushima seafood, and dumping the water would compound the fears.
Note: For more along these lines, see concise summaries of deeply revealing news articles on the Fukushima nuclear disaster from reliable major media sources.
More than 10 years after the housing crash that devastated the economy, people are still debating just what happened. Although the economy and the housing market have made a comeback, homeownership remains low. Aaron Glantz, a prize-winning investigative journalist ... set out to explain why, in "Homewreckers: How a Gang of Wall Street Kingpins, Hedge Fund Magnates, Crooked Banks, and Vulture Capitalists Suckered Millions Out of Their Homes and Demolished the American Dream." Eight million Americans lost their homes in the bust. Where did those homes go? Those houses didn’t just disappear. Who won, when everyone else lost? The people who won - a small group of businessmen who pounced to seize thousands of homes and made billions of dollars - they’re the “homewreckers.” But even though the housing bust is over, the nation’s homeownership rate is at its lowest in 50 years, and continues to go down. It helps explain why people feel so uneasy. As long as the unemployment rate is low and people have jobs and they can afford rents, the financial market is secure. If people lose their jobs, what’s going to happen? We could be back in another housing bust. Right now there’s a real crisis of affordability. People think we don’t have enough inventory because we haven’t built enough houses. Only 10 years ago, our country was awash in real estate. We have to ask ourselves if we really have a housing shortage, or if we have rigged the market so it only benefits a few of the players.
Note: For more along these lines, see concise summaries of deeply revealing news articles on income inequality from reliable major media sources.
For most, psychedelic drugs conjure up images of the 1960's, hippies tripping out on LSD or magic mushrooms. But ... these powerful, mind-altering substances are now being studied seriously by scientists inside some of the country's foremost medical research centers. They're being used to treat depression, anxiety and addiction. The early results are impressive, as are the experiences of the studies' volunteers who go on a six-hour, sometimes terrifying, but often life-changing psychedelic journey. For nearly two decades now, [scientist Roland Griffiths] and his colleague Matthew Johnson have been giving what they call "heroic doses" of psilocybin to more than 350 volunteers, many struggling with addiction, depression and anxiety. Carine McLaughlin was a smoker for 46 years and said she tried everything to quit before being given psilocybin at Johns Hopkins last year. That was more than a year ago; she says she hasn't smoked since. The study she took part in is still ongoing, but in an earlier, small study of just 15 long-term smokers, 80% had quit six months after taking psilocybin. That's double the rate of any over-the-counter smoking cessation product. Jon Kostakopoulos was drinking a staggering 20 cocktails a night ... when he decided to enroll in another psilocybin trial at New York University. During one psilocybin session, he was flooded with powerful feelings and images from his past. He took psilocybin in 2016. He says he hasn't had a drink since.
Note: For more along these lines, see concise summaries of deeply revealing news articles on mind-altering drugs from reliable major media sources.
One of President Donald Trump’s top re-election advisers told influential Republicans in swing state Wisconsin that the party has “traditionally” relied on voter suppression to compete in battleground states but will be able to “start playing offense” in 2020 due to relaxed Election Day rules, according to an audio recording of a private event obtained by The Associated Press. “Traditionally it’s always been Republicans suppressing votes in places,” Justin Clark, a senior political adviser and senior counsel to Trump’s re-election campaign, said at the event. Republican officials publicly signaled plans to step up their Election Day monitoring after a judge in 2018 lifted a consent degree in place since 1982 that barred the Republican National Committee from voter verification and other “ballot security” efforts. Critics have argued the tactics amount to voter intimidation. The consent decree was put in place after the Democratic National Committee sued its Republican counterpart, alleging the RNC helped intimidate black voters in New Jersey's election for governor. The federal lawsuit claimed the RNC and the state GOP had off-duty police stand at polling places in urban areas wearing armbands that read "National Ballot Security Task Force," with guns visible on some. Mike Browne, deputy director of One Wisconsin Now, said Clark's comments suggest the Trump campaign plans to engage in “underhanded tactics” to win the election.
Note: For more along these lines, see concise summaries of deeply revealing news articles on elections corruption from reliable major media sources. Then explore the excellent, reliable resources provided in our Elections Information Center.
Decades ago when Mike Esmond was raising his young family, they struggled to pay their heating bill. Decades later, he was reminded of that very cold Christmas as he opened his gas and water bill earlier this month. He noticed the due date was Dec. 26. “That made something pop into my mind, that people have to pay these bills by Dec. 26,” he said. “If they don’t pay them, they’re going to be disconnected, and they’re not going have gas or water for the holidays.” As that realization dawned on him, Esmond decided to take action. Now a 73-year-old successful business owner, he was in a comfortable position to help. He went to the city of Gulf Breeze, Florida — where he lives — and asked them to put together a list of all the people that were slated to have their gas and water shut off by that Dec. 26 date. Esmond said they told him a total of 36 families needed his help, so he decided to pay off their bills for around $4,600. “When I did this, I didn’t even know that the city was going to do what they did!” he laughed. “The ladies in the billing department actually used their computers to make up a Christmas card and they sent it out to all the people that were expecting their gas to be disconnected.” The card wished folks a “happy holidays” on the front in cheerful red and green, but it was the note on the inside that has struck a chord: “It is our honor and privilege to inform you that your past due utility bill has been paid by Gulf Breeze Pools & Spas. You can rest easier this holiday season knowing you have one less bill to pay.”
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Here's a list of some of the good things that happened this year. The Indian Navy welcomed its first-ever woman pilot. People around the world united to save a 2-year-old's life. Austria named its first female chancellor. The European Commission elected its first female President. Women now lead five of the major parties in Finland's parliament. For the first time, all major pageants were won by women of color. Macedonia was renamed, bringing an end to a decades-long dispute with Greece. President Donald Trump made history as the first sitting US leader to set foot in North Korea. Pope Francis became the first pontiff to visit an Arab Gulf state. The 116th Congress became the most diverse in US history. Chicago elected its first African-American female mayor. Animal cruelty is officially a federal felony. California is now the first state to offer health insurance to some undocumented immigrants. Montgomery, Alabama, elected its first black mayor in 200 years. New York banned the so-called gay and trans "panic" defense. The largest mass commutation in US history took place. The Little Shell Tribe became the newest Native American tribe to receive federal recognition. Indonesia raised [the] minimum age for brides to end child marriage. Saudi Arabian women are finally allowed to travel independently. Taiwan became the first place in Asia to pass a same-sex marriage legislation. Botswana ruled to decriminalize consensual same-sex relations. Northern Ireland legalized same-sex marriage.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
While the ozone hole over Antarctica typically grows in September and October, scientists observed the smallest ozone hole since they first began observing it in 1982, according to a joint release by NASA and NOAA. Unusual weather patterns in the upper atmosphere limited depletion of ozone, the layer in our atmosphere that acts like sunscreen and protects us from ultraviolet radiation. On September 8, the ozone hole reached a peak of 6.3 million square miles and then shrank to less than 3.9 million square miles, according to the report. Usually, the hole would grow to reach 8 million square miles. The annual ozone hole forms when rays from the sun interact with the ozone and man-made compounds such as chlorine and bromine to deplete the ozone. This occurs during late winter in the Southern Hemisphere. Cloud particles in the cold stratosphere lead to reactions that destroy ozone molecules, which are made of three oxygen atoms. But when temperatures are warmer, these clouds don't form, which limits ozone destruction. This is only the third time in 40 years when warm temperatures caused by weather systems have actually helped limit the ozone hole. This also occurred in 1988 and 2002. But the scientists say there is no connection they've identified to link the patterns with climate change. The ozone layer over the Antarctic is expected to recover by 2070 as compounds used as coolants, called chlorofluorocarbons, decline. They were regulated 32 years ago by the Montreal Protocol.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
The US government is no stranger to the dark arts of political assassinations. Over the decades it has deployed elaborate techniques against its foes, from dispatching a chemist armed with lethal poison to try to take out Congo’s Patrice Lumumba in the 1960s to planting poison pills ... in the Cuban leader Fidel Castro’s food. But the killing of General Qassem Suleimani, the leader of Iran’s elite military Quds Force, was in in a class all its own. Its uniqueness lay ... in the brazenness of its execution and the apparently total disregard for either legal niceties or human consequences. “The US simply isn’t in the practice of assassinating senior state officials out in the open,” said Charles Lister, senior fellow at the Middle East Institute in Washington. Donald Trump’s gloating tweets over the killing combined with a sparse effort to justify the action in either domestic or international law has led to the US being accused of the very crimes it normally pins on its enemies. Iran’s foreign minister, Mohammad Javad Zarif, denounced the assassination as an “act of international terrorism”. Mary Ellen O’Connell, a professor of international law at the University of Notre Dame, draws a direct line between earlier US administrations and the convention-shredding unpredictability of Trump. “Since Obama there has been a steady dilution of international law,” O’Connell said. “Suleimani’s death marks the next dilution – we are moving down a slope towards a completely lawless situation.” O’Connell added that there was only one step left for the US now to take. “To completely ignore the law. Frankly, I think President Trump is there already – his only argument has been that Suleimani was a bad guy and so he had to be killed.”
Note: Learn more about this brazen provocation in this New York Times article. A Washington Post article titled "The White House has formally notified Congress of the Soleimani strike" shows steps are being taken for declaring. war. For more along these lines, see concise summaries of deeply revealing news articles on war corruption from reliable major media sources. Then explore the excellent, reliable resources provided in our War Information Center.
On March 16, 1950, astronomers at the US Naval Observatory pointed a telescope roughly in the direction of the constellation Lupus the wolf and took a picture. When scientists look at that same patch of sky today, something is missing. Back in 2016, researchers in Sweden reported that a star had been lost. One of the roiling distant suns visible in that USNO image from the previous century could no longer be seen. The team published a paper on the discovery, but called it "very uncertain" at the time, resolving to do more follow-up work and to continue scouring old USNO observations for other celestial objects that seem to have gone missing. Three years later, it's still unclear what happened to that star spotted in 1950, but the team behind the "Vanishing & Appearing Sources during a Century of Observations" (Vasco) project now says they've found a hundred more missing stars like it by comparing old and new observations. While they've seen no signs of aliens just yet, they say parts of space where multiple stars seem to disappear could be the best places to look for extraterrestrial intelligence (ETI). "Unless a star directly collapses into a black hole, there is no known physical process by which it could physically vanish," explains a new study published in the Astronomical Journal. "The implications of finding such objects extend from traditional astrophysics fields to the more exotic searches for evidence of technologically advanced civilizations."
Note: For more along these lines, see concise summaries of deeply revealing news articles on UFOs from reliable major media sources. Then explore the excellent, reliable resources provided in our UFO Information Center.
When Stefan Koning, who has a history of psychosis, was found guilty of threatening a stranger with a knife, a long custodial sentence might have felt like the only answer. In fact, after a short spell in jail, he is back at his home in Amsterdam. Koning is a beneficiary of a growing tendency in the Netherlands to avoid jailing people unless it is necessary. One key aspect of this is a prodigious programme of care in the community for people with psychiatric problems. “We work on two aims: number one, preventing another crime, and then on psychiatric suffering and the social problems that come with it,” says Hommo Folkerts, [an] outreach worker who helps Koning. Today plummeting prison sentences have left the Netherlands with an unusual problem: it doesn’t have enough inmates to fill its prisons. Since 2014, 23 prisons have been shut, turning into temporary asylum centres, housing and hotels. The country has Europe’s third-lowest incarceration rate, at 54.4 per 100,000 inhabitants. According to the justice ministry’s WODC Research and Documentation Centre, the number of prison sentences imposed fell from 42,000 in 2008 to 31,000 in 2018 – along with a two-thirds drop in jail terms for young offenders. Registered crimes plummeted by 40% in the same period, to 785,000 in 2018. There is also a ... rehabilitation programme known as TBS. There were 1,300 people detained with a TBS ruling in 2018: people stay in a treatment centre, sometimes after a jail term, and are treated for ... psychological conditions.
Note: For more along these lines, see concise summaries of deeply revealing news articles on prison system corruption from reliable major media sources.
The Hamblen County Jail has been described as a dangerously overcrowded “cesspool of a dungeon,” with inmates sleeping on mats in the hallways, lawyers forced to meet their clients in a supply closet and the people inside subjected to “horrible conditions” every day. Since 2013, the number of people locked up in rural, conservative counties such as Hamblen has skyrocketed. Like a lot of Appalachia, Morristown, Tenn. ... has been devastated by methamphetamine and opioid use. Residents who commit crimes to support their addiction pack the 255-bed jail, which had 439 inmates at the end of October. While jail populations have dropped 18 percent in urban areas since 2013, they have climbed 27 percent in rural areas during that same period. Almost everyone in the county jail is there because of charges related to addiction, said the sheriff, Esco Jarnagin. Defense lawyers have proposed other options to address the crisis, including a pilot program [that] would have allowed some low-risk defendants to avoid having to post bail. But judges rejected the proposal because of fears that defendants would flee, said Willie Santana ... who is now one of four lawyers in the Hamblen County public defender’s office. “The whole system is geared toward generating pleas and putting people in jail,” he said. For many inmates, that means the jail has been a revolving door. More than three-quarters of the 850 new cases that Mr. Santana handled in the past year involved a client who had previously been incarcerated.
Note: For more along these lines, see concise summaries of deeply revealing news articles on corruption in the courts and in the prison system.
For more than nine months, María, 23, has been waiting in an immigration detention center in Arizona hoping to reunite with the six-year-old niece she raised as a daughter. When the two asked for asylum at the border last March because they feared for their lives in Guatemala, border officials detained María in the Eloy detention center and sent the girl to foster care in New York, 2,400 miles away. Lawmakers and more than 200 clergy asked US Immigration and Customs Enforcement (Ice) to grant María parole so she can leave detention and reunite with the girl. A woman in New York volunteered to house them both while María awaits a decision on her appeal for asylum. But despite that public support, Ice denied María’s application for parole in mid-December. Parole was once the norm for arriving asylum seekers, but in recent years approvals have become increasingly rare. On a standardized form, Ice officers indicated María failed to prove she was “not a flight risk” or that her “continued detention was not in the public interest”. After a federal judge in 2018 ordered most family separations to end, attorneys have been scrambling to reunite families. There are currently about 5,500 known cases of children separated from parents during the Trump administration. But no one has tracked how many children have been split from non-parent relatives. The logistics of how and when María will see her niece again if she is not paroled are unclear. María’s asylum appeal could take up to two years.
Note: For more along these lines, see concise summaries of deeply revealing news articles on government corruption from reliable major media sources.
After Jeffrey Epstein's death, federal prosecutors in Manhattan pledged to continue investigating his alleged sex-trafficking ring, suggesting they would pursue his co-conspirators. But ... prosecutors have struggled with the question of whether some of those alleged co-conspirators were themselves victims of Epstein. Atop the alleged pyramid of Epstein associates was his ex-girlfriend turned social companion, Ghislaine Maxwell, a contemporary of Epstein's. Allegedly reporting to her and to Epstein was a coterie of assistants in their early 20s, and prosecutors are examining whether their experience with the accused predator should categorize them as an accomplice or as one of the abused. According to police reports, civil lawsuits and other court filings, these women approached girls in various places including near their schools, offering them the opportunity to make money by giving what they described as massages to an older man. The starkest example appears to be Nadia Marcinkova, an Epstein assistant who is accused in civil lawsuits of having perpetrated abuse alongside Epstein, aiding him to "satisfy his criminal sexual desires by, on occasion, directly participating in sexual abuse and prostitution of the minor girls," according to one of the lawsuits. One victim who alleged she was forced to have sex with Marcinkova told police Epstein bragged that he had "purchased" Marcinkova and brought her to the US to be his "Yugoslavian sex slave."
Note: For more along these lines, see concise summaries of deeply revealing news articles on Jeffrey Epstein from reliable major media sources.
The bone-rattling trip to the upper reaches of Earth’s atmosphere used to require a steady hand, a powerful jet and the precision of an airman ready to dodge enemy fire. It was just the sort of challenge that a chiseled 29-year-old aspiring astronaut named Ed Dwight was after. In 1962, he piloted an F-104 Starfighter, essentially a chrome javelin ... designed to go very fast and very high. A massive engine took up one end; the other was occupied by the pilot. Dwight only made a handful of flights like this, but all told he spent 9,000 hours in the air. A former altar boy turned airman, he was among the pilots training to become astronauts at the Aerospace Research Pilot School, helmed by Chuck Yeager at Edwards Air Force Base in California. Unlike every other pilot in the program, he was black. From Day 1, Dwight said, Yeager wanted him gone. Dwight said he immediately felt he was not welcome, that he was not of the group. “Every week, right on the dot,” Dwight recalled, “he’d call me into his office and say, ‘Are you ready to quit? This is too much for you and you’re going to kill yourself, boy.’ Calling me a boy and I’m an officer in the Air Force.” Dwight ... felt his treatment was so unfair that he later took bias charges to higher-ups. Yeager ultimately graduated him. In October 1963, the agency held a news conference in Houston to announce the astronauts selected for the next class. The 14 chosen men, including the future moonwalker Buzz Aldrin, filed onstage. Dwight was not there. He was not among the chosen.
Note: Don't miss the excellent 13-minute NY Times documentary on this great man. For more along these lines, see concise summaries of deeply revealing news articles on civil liberties from reliable major media sources.
According to one theory, jolly old St. Nick might have been so jolly because he was derived from shamans who went from hut to hut handing out hallucinatory mushrooms in Siberia and the Arctic during the Winter Solstice, right around the same time as Christmas. "As the story goes, up until a few hundred years ago these practicing shamans or priests connected to the older traditions would collect Amanita muscaria (the Holy Mushroom), dry them, and then give them as gifts on the winter solstice," [said] anthropologist John Rush. The festive deep red and white mushrooms were eaten by the humans and reindeer who roamed the region, sending both of them on well ... a tinsel-turvy trip. "This idea [is] that reindeer go berserk because they're eating Amanita muscaria. Reindeers flying — are they flying, or are your senses telling you they're flying because you're hallucinating?" Harvard biology professor Donald Pfister told NPR. Reindeer were also considered "spirit animals" and the Siberian shamans wore red deer pelts as tributes, according to scholars. Even more, shamans dressed up like the mushrooms, which explains Santa's cozy red and white suit. Another scholar told NBC that the idea of Rudolph's flashy red nose likely originated from the color of the mushrooms, noting how remarkable it was that the tripping beast was put in charge of directions. "It's amazing that a reindeer with a red-mushroom nose is at the head, leading the others," Boston College classics professor Carl Ruck mused.
Note: See a 7-minute New York Times video on this intriguing hypothesis. For more along these lines, see concise summaries of deeply revealing news articles on mind-altering drugs from reliable major media sources.
A ProPublica analysis has found that doctors who receive payments from the medical industry do indeed prescribe drugs differently on average than their colleagues who don't. And the more money they receive, the more brand-name medications they tend to prescribe. [They] matched records on payments from pharmaceutical and medical device makers in 2014 with corresponding data on doctors' medication choices in Medicare's prescription drug program. Doctors who got money from drug and device makers prescribed a higher percentage of brand-name drugs overall than doctors who didn't. Even those who simply got meals from companies prescribed more brand-name drugs, on average. Doctors who received more than $5,000 from companies in 2014 typically had the highest brand-name prescribing percentages. Among internists who received no payments, for example, the average brand-name prescribing rate was about 20 percent, compared to about 30 percent for those who received more than $5,000. ProPublica has been tracking drug company payments to doctors since 2010 through a project known as Dollars for Docs. The tool now covers every drug and device company, thanks to the Physician Payment Sunshine Act, a part of the 2010 Affordable Care Act. Separately, ProPublica has tracked patterns in Medicare's prescription drug program ... which covers more than 39 million people. This new analysis ... looked at doctors who wrote at least 1,000 prescriptions.
Note: For more along these lines, see concise summaries of deeply revealing news articles on health from reliable major media sources.
Antong Lucky and Def D had nearly identical childhoods: both were raised in underprivileged neighborhoods in Dallas, both experienced gang violence at an early age, and both had family members who were in gangs. There was, however, one notable difference: they were raised one mile apart, in different neighborhoods. This mile meant the difference between friend and foe: Antong was in the Bloods territory, and Def D was in the Crips. In prison, both came to recognize the devastation that gang violence was wreaking on young people and their families. After both men were released from prison, the former enemies met together to create OGU (Original Gangsters United), an organization that tries to help young people in Dallas from falling into the same cycle of gang violence that Antong and Def D experienced growing up. OGU, which now has more mentors than the original duo, spend their days hanging out with Dallas youth, looking for kids at risk of gang violence or, rather, those most in need of a positive relationship in their lives. Just this year, OGU mentors have reached 470 youth. There are many organizations that try to help at-risk teenagers escape gang violence, but what makes OGU so unique is the relationship that Antong and Def D share. Theyre a real-life example of how two people from different neighborhoods can forge a meaningful relationship and use their common experiences to do good for others.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Diplomats at the United Nations got a dose of data-driven positivity this week from Harvard psychology professor Steven Pinker, who delivered a history lesson to prove the human condition is actually more peaceful and more prosperous than ever before. The world, Pinker told the gathering of officials ... is a better place than ever, but our perspective - and the way the news media convey events - needs to change. Pinker's most recent book, "Enlightenment Now: The Case for Reason, Science, Humanism and Progress," presents facts that demonstrate how life around the globe, statistically, is improving. The psychologist measures a range of qualities to define progress; life, health, sustenance, prosperity, peace, freedom, safety, knowledge, leisure, happiness. As those have increased over time on aggregate, Pinker argues, humanity is making progress. His data paint a clear picture, over the course of centuries, of life expectancy increasing, deaths by famine falling, the world's gross earnings rising and extreme poverty falling. Pinker said the world has become freer, too, with dictatorships and autocracies decreasing in number. Pinker concluded in his remarks that we are collectively depressing ourselves for lack of a complete, fact-based view with full appreciation for what came before. He said the media and intelligentsia have been complicit in the depiction of modern Western nations as unjust and dysfunctional.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Renewable power capacity is forecast to increase by 50% between 2019 and 2024, the International Energy Agency (IEA) said. According to its “Renewables 2019” market report, the increase will amount to 1,200 gigawatts (GW) and be driven by drops in cost and what the IEA described as “concerted government policy efforts.” Capacity refers to the maximum amount that installations can produce, not what they are currently generating. In 2018, renewable capacity hit just over 2,500 GW. If the IEA’s forecast plays out, it would bring total renewable capacity to approximately 3,700 GW by 2024. Solar photovoltaics (PV) are due to make up nearly 60% of the expected rise, with the onshore wind sector accounting for 25% and offshore wind responsible for 4%. Photovoltaic refers to a way of directly converting light from the sun into electricity. The IEA said that distributed solar PV – systems installed on commercial buildings, homes and in industry – would make up nearly half of the increase in the solar PV market. Overall, renewables’ share in worldwide power generation is seen growing from 26% now to 30% in 2024. For 2019, renewable power capacity additions are seen increasing by 12% following a stall last year. Growth this year is being driven by solar PV, which has benefited from “rapid expansion in the European Union”, a stronger Indian market and an “installation boom” in Vietnam. Growth in the onshore wind sector is also cited as a contributing factor.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
400 of America’s largest corporations paid an average federal tax rate of about 11 percent on their profits last year, roughly half the official rate established under President Trump’s 2017 tax law. The 2017 tax law lowered the U.S. corporate tax rate from 35 percent to 21 percent, but in practice large companies often pay far less than that because of deductions, tax breaks and other loopholes. In the first year of the law, the amount corporations paid in federal taxes on their incomes — their “effective rate” — was 11.3 percent on average ... according to a report by the Institute on Taxation and Economic Policy. From 2008 to 2015, under the previous tax code, the corporations’ effective rate was about 21 percent. The report also found that 91 corporations in the Fortune 500, many worth billions of dollars, paid no federal taxes last year. The findings come amid an explosion in the federal deficit, which this year rose to almost $1 trillion. Corporate tax revenue fell markedly during the first year of the tax law, from about $300 billion in 2017 to $204 billion in 2018. “When drafting the tax law, lawmakers could have eliminated special breaks and loopholes in the corporate tax to offset the cost of reducing the statutory rate,” the report says. “Instead, the new law introduced many new breaks and loopholes, though it eliminated some old ones.” The 91 profitable Fortune 500 corporations that paid no federal tax in 2018 earned a combined $101 billion last year. As a group, their effective federal tax rate was -5.9 percent.
Note: How is it that 91 of the biggest corporations in the U.S. get away with paying no taxes? For more along these lines, see concise summaries of deeply revealing news articles on government corruption from reliable major media sources.
Important Note: Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.