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.
Just over a week ago, the White House declared that ordering an American aircraft carrier into the Sea of Japan would send a powerful deterrent signal to North Korea and give President Trump more options in responding to the North’s provocative behavior. “We’re sending an armada,” Mr. Trump said to Fox News last Tuesday afternoon. The problem was that the carrier, the Carl Vinson, and the three other warships in its strike force were that very moment sailing in the opposite direction, to take part in joint exercises with the Australian Navy ... 3,500 miles southwest of the Korean Peninsula. White House officials said Tuesday that they had been relying on guidance from the Defense Department. Officials there described a glitch-ridden sequence of events ... which perpetuated the false narrative that a flotilla was racing toward the waters off North Korea. By the time the White House was asked about the Carl Vinson, its imminent arrival had been emblazoned on front pages across East Asia, fanning fears that Mr. Trump was considering a pre-emptive military strike. In South Korea ... fears of a full-blown war erupted. The government rushed to reassure the public that the Carl Vinson was coming only to deter North Korean provocations. After a week of war drums, fueled by the reports of the oncoming armada, tensions subsided when the weekend passed with only a military parade in Pyongyang and a failed missile test, [while] the Carl Vinson ... was thousands of miles from where most of the world thought it was.
Note: For more along these lines, see concise summaries of deeply revealing news articles on government corruption and the manipulation of mass media.
A leading weapons academic has claimed that the Khan Sheikhoun nerve agent attack in Syria was staged. Theodore Postol, a [former scientific advisor at the Department of Defense (DoD)], issued a series of three reports in response to the White House's finding that Syrian President Bashar Al-Assad perpetrated the attack on 4 April. Postol said: "I have reviewed the [White House's] document carefully, and [it] does not provide any evidence whatsoever that the US government has concrete knowledge that the government of Syria was the source of the chemical attack in Khan Sheikhoun, Syria. "In fact, a main piece of evidence that is cited in the document point to an attack that was executed by individuals on the ground, not from an aircraft, on the morning of 4 April. "My own assessment is that the source [of the sarin release] was very likely tampered with or staged, so no serious conclusion could be made from the photographs cited by the White House." The image Postol refers to is that of a crater containing a shell inside, which is said to have contained the sarin gas. His analysis of the shell suggests that it could not have been dropped from an airplane as the damage of the casing is inconsistent from an aerial explosion. Instead, Postol said it was more likely that an explosive charge was laid upon the shell containing sarin, before being detonated. The implication of Postol's analysis is that [the attack] was carried out by anti-government insurgents as Khan Sheikhoun is in militant-controlled territory of Syria.
Note: See an excellent list of 10 points with strong evidence Assad was not behind the chemical attacks the media has pinned on him. For more along these lines, see concise summaries of deeply revealing news articles on government corruption and the manipulation of mass media.
Leaked internal emails appear to show employees at one of the world’s leading pharmaceutical companies calling for “celebration” over price hikes of cancer drugs. After purchasing five different cancer drugs from British firm GlaxoSmithKline, [Aspen Pharmacare] tried to sell the medicines ... for up to 40 times their previous price. When bargaining over drug prices in Spain, the pharmaceutical giant is said to have threatened to stop selling the cancer treatments unless the health minister agreed to price rises of up to 4,000 per cent. Now another leaked email appears to reveal that staff at Aspen discussed destroying their supplies of the drug in the row. The price increases were made possible by a loophole that allows drug companies to change the price of medicines if they are no longer branded with the same name. The loophole is designed to make drugs cheaper once their patents have expired – but if drug companies have no competition, they are free to rise prices as well. A ruling by the Italian competition watchdog found Aspen had taken an “aggressive” approach to negotiations in the country. The company said it would stop supplying Italy with the drugs in October 2013 if authorities did not agree to price rises of up to 2,100 per cent in three months.
Note: For more along these lines, see concise summaries of deeply revealing Big Pharma corruption news articles from reliable major media sources.
Of the many pesticides that American farmers have embraced in their war on bugs, neonicotinoids are among the most popular. One of them, called imidacloprid, [boasts] sales of over $1 billion a year. A 2016 study suggested a link between neonicotinoid use and local pollinator extinctions. As the bee debate raged, scientists studying the country’s waterways started to detect neonicotinoid pollutants. In 2015, the U.S. Geological Survey collected water samples from streams throughout the United States and discovered neonicotinoids in more than half of the samples. And on Wednesday, a team of [researchers] at the USGS and University of Iowa reported that they found neonicotinoids in treated drinking water. It marks the first time that anyone has identified this class of pesticide in tap water. The Environmental Protection Agency has not defined safe levels of neonicotinoids in drinking water. The pesticides ... work their way into plant tissue rather than just coating the leaves and stems. Neonicotinoids can slip past sand [water filtration systems] because they ... dissolve very readily in water. The research team looked at how effectively the university’s sand filtration system ... blocked the three neonicotinoids studied. The university’s sand filter removed 1 percent of the clothianidin, 8 percent of imidacloprid and 44 percent of thiamethoxam.
Note: For more, see this mercola.com article. For more along these lines, see concise summaries of deeply revealing health news articles from reliable major media sources.
Residues of many types of insecticides, fungicides and weed killing chemicals have been found in roughly 85 percent of thousands of foods tested. Data released ... by the U.S. Department of Agriculture shows varying levels of pesticide residues in everything from mushrooms to potatoes and grapes to green beans. One sample of strawberries contained residues of 20 pesticides. Notably, the agency said only 15 percent of the 10,187 samples tested were free from any detectable pesticide residues. That’s a marked difference from 2014, when the USDA found that over 41 percent of samples were “clean” or showed no detectable pesticide residues. Prior years also showed roughly 40-50 percent of samples as free of detectable residues. Absent from the USDA data was any information on glyphosate residues, even though glyphosate has long been the most widely used herbicide in the world. The Food and Drug Administration also annually samples foods for residues of pesticides. The most recent public residue report issued by the FDA shows that violation rates for pesticide residues have been climbing in recent years.
Note: For more, see this mercola.com article. For more along these lines, see concise summaries of deeply revealing news articles on food system corruption and health.
Concerns about the world’s most widely used herbicide are taking a new twist. Researchers looking at exposure to the herbicide known as glyphosate, the key ingredient in Monsanto’s Roundup-branded herbicides, said they tested and tracked 69 expectant mothers and found that the presence of glyphosate levels in their bodily fluids correlated with unfavorable birth outcomes. Glyphosate ... has become the subject of hot debate over the last few years because of research that links the herbicide to types of cancer and other health ailments. Monsanto is being sued by hundreds of people who claim they or their loved ones developed non-Hodgkin lymphoma because of exposure to glyphosate-based Roundup. Documents discovered in the course of the litigation indicate the company may have manipulated scientific research to hide evidence of harm. The team that presented their report Wednesday ... collected the data over two years, from 2015-2016, and found that higher glyphosate levels in women correlated with significantly shorter pregnancies and with lower adjusted birth weights. [Paul Winchester, who led the study], said he was surprised to see such a high percentage of women tested showing glyphosate in their urine. He was sharply critical of the U.S. government, which routinely skips testing for glyphosate residues in food.
Note: Major lawsuits are building over Monsanto's lies to regulators and the public on the dangers of glyphosate. For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and health.
The Mother of All Bombs made news last week after the U.S. military dropped its most powerful non-nuclear bomb at a site in Afghanistans Nangarhar Province. This massive ... explosive device may seem a high-tech marvel. But the technology is old news, based on ... World War II-era theories. Yet theres plenty of new news on the military weapons front. The militarys new toys are often fantastically costly. Yet in some categories, technological advances create opportunities for cheap but powerful military tools ... starting with weaponized drones. The Defense Department is designing robotic fighter jets that would fly into combat alongside manned aircraft. It has tested missiles that can decide what to attack, and it has built ships that can hunt for enemy submarines ... without any help from humans. The dilemma posed by artificial intelligence-driven autonomous weapons - which some scientists liken to the third revolution in warfare, after gunpowder and nuclear arms - is that to take fullest advantage of such weapons, the logical move would be to leave humans entirely out of lethal decision-making, allowing for quicker responses to threats. But if future presidents and Pentagons trusted algorithms to make such decisions, conflicts between two nations relying on such technology could rapidly escalate - to possibly apocalyptic levels - without human involvement. More than 20,000 AI researchers, scientists and [others have signed] a ...petition endorsing a ban on offensive autonomous weapons.
Note: In 2013, the United Nations investigated the rise of lethal autonomous robots, and reported that this technology endangers human rights and should not be developed further without international oversight. For more along these lines, see concise summaries of deeply revealing war news articles from reliable major media sources.
An Associated Press investigation of U.N. missions during the past 12 years found nearly 2,000 allegations of sexual abuse and exploitation by peacekeepers and other personnel around the world. More than 300 of the allegations involved children. Only a fraction of the alleged perpetrators served jail time. In Haiti, at least 134 Sri Lankan peacekeepers exploited nine children in a sex ring from 2004 to 2007, according to an internal U.N. report. 114 peacekeepers were sent home. None was ever imprisoned. In March, U.N. Secretary-General Antonio Guterres announced new measures to tackle sexual abuse. But the proclamation had a depressingly familiar ring: More than a decade ago, the United Nations commissioned a report that promised to do much the same thing, yet most of the reforms never materialized. For a full two years after those promises were made, the children in Haiti were passed around from soldier to soldier. And in the years since, peacekeepers have been accused of sexual abuse the world over. The AP found that some 150 allegations of abuse and exploitation by U.N. peacekeepers and other personnel were reported in Haiti alone between 2004 and 2016. Aside from the Sri Lankan sex ring in Haiti, some perpetrators were jailed for other cases. Alleged abusers came from Bangladesh, Brazil, Jordan, Nigeria, Pakistan, Uruguay and Sri Lanka. More countries may have been involved, but the United Nations only started disclosing alleged perpetrators' nationalities after 2015.
Note: In 2015, UN officials unsuccessfully attempted to cover up an internal report alleging sexual abuse of children by peacekeeping troops in Africa. Watch an excellent segment by Australia's "60-Minutes" team "Spies, Lords and Predators" on a pedophile ring in the UK which leads directly to the highest levels of government. A second suppressed documentary, "Conspiracy of Silence," goes even deeper into this topic in the US. For more along these lines, see concise summaries of deeply revealing sexual abuse scandal news articles from reliable major media sources.
The plan was ambitious: a sting operation to take on some of the nation’s most dangerous drug organizations. Posing as money launderers, the [Bal Harbour police and the sheriff's office of Glades County] became unlikely allies in a task force that took in more than $55.6 million from drug cartels and other criminal groups, while traveling across the country ... and frequently staying at luxury hotels. By the time it ended in late 2012, the Tri-County Task Force made no arrests or major drug seizures. For their role, the police laundered the money through hundreds of bank accounts - taking at least $1.7 million for themselves for brokering the deals - then returned the rest to the same criminal groups selling drugs in U.S. cities. The 12-member task force drew the attention of the Department of Justice ... in an investigation that found Bal Harbour misspent money from seizing cars and cash to pay for police salaries, leading to the resignation of Police Chief Tom Hunker in 2013. They also began withdrawing large amounts of cash ... without filing any documents to show how the money was spent. The Herald found that officers took out $547,000. Auditors have turned up [an additional] $800,000 [that was withdrawn] with no supporting records. The officers [also] began sending millions to banks overseas ... in laundering deals without alerting the DEA. Task force members said the total amount they laundered was $56 million, but records now being examined by auditors show the number was far higher - possibly $83 million.
Note: This is a summary of part one of a five part series which shows just how easily police, lawyers, and politician can be corrupted by big money. Explore other parts of this excellent series on this webpage. For more along these lines, see concise summaries of deeply revealing police corruption news articles from reliable major media sources.
The Food and Drug Administration (FDA) is often accused of serving industry at the expense of consumers. This week, [there are reports] of an institutionalized FDA spying program on its own scientists, lawmakers, reporters and academics that included an enemies list of "actors" and collaborators. "Devicegate" dates back at least to January 2009 when scientists ... wrote President Obama that top FDA managers "committed the most outrageous misconduct by ordering, coercing and intimidating FDA physicians and scientists to recommend approval, and then retaliating when the physicians and scientists refused to go along." Unsafe [medical] devices - including those that emit excessive radiation - were approved. For reporting the safety risks, the scientists became targets. Some lost their jobs. The ... reprisals against FDA device reviewers [did not surprise former FDA drug reviewer Ronald Kavanagh]. "After FDA management learned I had gone to Congress about certain issues, I found my office had been entered and my computer physically tampered with," [said Kavanagh]. "Then, after I openly reported irregularities in an antipsychotic drug review and FDA financial collusion with outsiders to ... the House Committee on Oversight and Government Reform, I was threatened with prison. The threats, however, can be much worse than prison. One manager threatened my children - who had just turned 4 and 7 years old - and ... I was afraid that I could be killed for talking to Congress and criminal investigators."
Note: Read more on how the FDA spied on whistle-blowing scientists to suppress safety concerns. For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in the scientific community.
In early February 1987, an anonymous tipster in Tallahassee, Fla., made a phone call to police. Two "well-dressed men" seemed to be "supervising" six disheveled and hungry children in a local park, the caller said. The cops went after the case like bloodhounds - at least at first. The two men were identified as members of the Finders. They were charged with child abuse in Florida. In Washington, D.C., police and U.S. Customs Service agents raided a duplex apartment building and a warehouse connected to the group. Among the evidence seized: detailed instructions on obtaining children for unknown purposes and several photographs of nude children. The more the police learned about the Finders, the more bizarre they seemed: There were suggestions of child abuse, Satanism, dealing in pornography and ritualistic animal slaughter. None of the allegations was ever proved, however. Today ... the Justice Department has begun a new investigation into the Finders. One of the unresolved questions involves allegations that the Finders are somehow linked to the Central Intelligence Agency. In 1987, when Customs agents sought to examine the evidence gathered by Washington, D.C., police, they were told that the Finders investigation "had become a CIA internal matter." The police report on the case had been classified secret. Even now, Tallahassee police complain about the handling of the Finders investigation by D.C. police. "They dropped this case," one Tallahassee investigator says, "like a hot rock."
Note: For lots more on the disturbing group called "The Finders," see the excellent research available at this link. As US News & World Report does not have archives for older articles like this, the link above takes you to a scanned copy of the the article taken directly from a copy of the magazine we obtained.
With New York poised to start offering a tuition-free college education for some students, public colleges may be worth a closer look. New York lawmakers approved the tuition initiative this weekend as part of the state budget. Under the plan - which New York Governor Andrew M. Cuomo proposed in January - the state will supplement aid for in-state residents whose families earn $125,000 or less, providing tuition-free education at all state public two- and four-year colleges. "College ... should always be an option even if you can't afford it," Gov. Cuomo said in a statement on the program's inclusion in the state budget. "The Excelsior Scholarship will make college accessible to thousands of working and middle class students and shows the difference that government can make." The program will phase in over three years, starting in the fall of 2017 for New Yorkers earning up to $100,000 and increasing to $110,000 in 2018. The state expects it to benefit an estimated 940,000 families. Eligible New Yorkers will still be on the hook for room and board and other expenses. Among other scholarship requirements, students must also agree to live and work in New York for the same number of years after graduation as they received the scholarship.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
It all started when roommates Reese Werkhoven, Cally Guasti and Lara Russo realized that the lumps in their couch's pillows were actually envelopes stuffed with money. They'd bought the couch for $20 at a Salvation Army store. "It had these bubble wrap envelopes," Werkhoven [said]. "We ripped them out and [found] like an inch and a half of $100 bills." The discovery was like a dream for the three friends. As they counted the money, they talked about what they might do with it; Werkhoven says he wanted to buy his mom a new car. But then they spotted a name among the envelopes, and realized they were faced with an ethical puzzle. "We had a lot of moral discussions about the money," Russo [said]. "We all agreed that we had to bring the money back to whoever it belonged to. A phone number led them to the family that had donated the couch - and to answers about why it was full of money. It turned out that the money was socked away out of [a] woman's late husband's concerns that he wouldn't always be there for his wife (she has chosen to remain anonymous). It represented decades of savings, including wages from the woman's job as a florist. For years, she also slept on the couch. But recent back problems led her daughter and son-in-law to replace it with a bed, meaning that the couch had to go. "This was her life savings and she actually said something really beautiful, like 'This is my husband looking down on me and this was supposed to happen,' " Guasti [said].
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Several people in our community swear by earthing - also called grounding - for everything from inflammation and arthritis to insomnia and depression. Longtime earthing-movement leader Clint Ober explains: "The simplest and most natural method of grounding is to go outdoors and place your bare feet and hands directly on the earthmany people choose to go for a barefoot walk in the park or on the beach. For people who dont have safe access to a place to walk barefoot (or for whom its inconvenient to do so for long periods of time), there are grounded mats that allow people to work grounded, with their bare feet placed on the mat. When I started grounding myself, the first noticeable effect was that I slept much better. Eventually I met Dr. Stephen Sinatra, a New York-based cardiologist, who wanted to look into the effect of grounding on inflammation. Since then, weve found that grounding improves sleep, reduces chronic pain, and speeds healing. In fact, many professional athletes sleep grounded, as it reduces pain and facilitates quicker recovery for sore muscles. Grounding greatly reduces blood viscosity, particularly after exercise, in part helping to counteract exercise-induced inflammation. As of today, there are twenty-one ... published studies examining the health benefits of earthing. We currently have [another] study underway at the Chopra Center in Carlsbad, which is designed to measure the effects of body-workers inflammation and health as a result of being grounded during work.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Kevin Butt's job is to find cleaner ways to power Toyota. One of the hardest places to do that is at the automaker's sprawling plant in central Kentucky, a state where nearly 90 percent of electricity still comes from coal. A few years ago, Toyota decided that by 2050 all of its operations, all around the world, should be zero-carbon. It's part of a larger business shift. In Kentucky, General Motors, Ford, Walmart, L'Oreal and others also have big goals to reduce emissions. "There's not enough renewable energy being manufactured right now for all of us to do what we say we want to do," Butt says. "The future is renewables and the large corporations that want renewables," says Jim Gardner, who used to regulate power companies as a member of Kentucky's Public Service Commission. Two years ago, Gardner was struck by an encounter with a local man who worked remotely for Facebook. He told Gardner that big corporations were actually deciding where to expand based on where they could get renewable energy. "He made it seem like there was ... a list with a lot of states with big X's marked in," says Gardner, "so that Facebook and others were not looking because [some states] were not going to be open to renewables." The Public Service Commission worried the state was missing out. It quietly issued an official statement — "a clear signal to people outside of the state," says Gardner - that if a big customer wanted renewable energy, Kentucky's utilities could cut a special deal to provide it.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Many patients come to Mayo Clinic for a second opinion or diagnosis confirmation before treatment for a complex condition. In a new study, Mayo Clinic reports that as many as 88 percent of those patients go home with a new or refined diagnosis – changing their care plan and potentially their lives. Conversely, only 12 percent receive confirmation that the original diagnosis was complete and correct. When people are sick, they look to their doctor to find solutions. However, physicians don’t always have the answers. Often ... the physician will recommend a second opinion. Other times, the patient will ask for one. This second opinion could lead to quicker access to lifesaving treatment or stopping unnecessary treatments. The [study's research] team compared the referring diagnosis to the final diagnosis to determine the level of consistency between the two. In 21 percent of the cases, the diagnosis was completely changed; and 66 percent of patients received a refined or redefined diagnosis. “Effective ... treatment depends on the right diagnosis,” says Dr. Naessens. “Knowing that more than 1 out of every 5 referral patients may be completely [and] incorrectly diagnosed is troubling ─ not only because of the safety risks for these patients ... but also because of the patients we assume are not being referred at all.” Insurers often limit access to care outside their network, effectively limiting referrals. Further, primary care providers may be more confident in their diagnostic expertise than warranted.
Note: Medical error kills an estimated 251,454 people in the US every year, making it the third leading cause of death in the US. And prescription drugs were reported to have caused 123,000 deaths and 800,000 adverse patient outcomes such as disability in the US in 2014 alone. For more along these lines, see concise summaries of deeply revealing health news articles from reliable major media sources.
Back in 2015, Brazil reported a horrific a surge in birth defects. Thousands of babies were born with ... a condition called microcephaly. Scientists quickly concluded the Zika virus was the culprit. So when Zika returned last year during Brazil's summer months ... health officials expected another surge in microcephaly cases. But that never happened. "We apparently saw a lot of cases Zika virus in 2016. But there was no microcephaly," says Christopher Dye of the World Health Organization. The difference between 2015 and 2016 "is spectacular," he says. Health officials were predicting more than 1,000 cases of microcephaly in the northeast of Brazil last year. But there were fewer than 100, Dye and his colleagues report Wednesday in the New England Journal of Medicine. "This is a huge, huge discrepancy," Dye says. "So what could possibly be the explanation for that?" Scientists aren't sure, Dye says. But he and his colleagues suggest a few possibilities in their study. First off, Dye says, health officials could have vastly overestimated the number of Zika cases in Brazil. Another possible explanation: Zika might not be working alone. Maybe another infection combines with Zika to make the disease worse and increase the risk of birth defects.
Note: The hysteria around Zika was almost certainly manufactured, with complicity of the major media, as clearly evidenced by this article. For more along these lines, see concise summaries of deeply revealing health news articles from reliable major media sources.
Vilified by accusations of using a chemical bomb, Syria’s president intensified his counterpropaganda campaign on Thursday, suggesting that child actors had staged death scenes to malign him and that American warplanes had bombed a terrorist warehouse full of poison gases, killing hundreds of people. In his first interview since an April 4 attack on the northern town of Khan Sheikhoun that killed over 80 people, sickened hundreds and outraged the world, President Bashar al-Assad of Syria not only repeated the government’s denials of responsibility but contended without evidence that the episode had been fabricated as a pretext for an American retaliatory missile strike. “We don’t know whether those dead children were killed in Khan Sheikhoun,” Mr. Assad told Agence France-Presse in the television interview from Damascus. Medical examiners in Turkey, where many of the Khan Sheikhoun victims were taken, have said that autopsies showed they had been attacked with sarin, a lethal nerve agent and a banned chemical weapon. The interview with Mr. Assad was broadcast as the Syrian government’s news agency asserted without evidence that American warplanes had bombed what it called a chemical weapons cache possessed by Islamic State militants in Syria on Wednesday, leaving hundreds dead, including “a large number of civilians, due to suffocation caused by the inhalation of toxic materials.”
Note: Isn't it strange the press blamed the April 4th chemical attacks on Assad, but no one bothered to ask him at the time and report if he claimed responsibility? Only nine days later did the above article come out reporting that he denied being behind them. And as reported on CNN, Former Democratic National Committee Chairman Howard Dean called Democratic Congresswoman Tulsi Gabbard a "disgrace" for questioning who was behind the chemical attack. Could the war mongers have so wanted to blame this on Assad that they purposely waited over a week to report this denial?
Increasing inequality means wealthy Americans can now expect to live up to 15 years longer than their poor counterparts, reports in the British medical journal the Lancet have found. Researchers said these disparities appear to be worsened by the American health system itself, which relies on for-profit insurance companies, and is the most expensive in the world. Their conclusion? Treat healthcare as a human right. The Lancet studies looked at how the American health system affects inequality and structural racism, and how mass incarceration and the Affordable Care Act (ACA), also known as Obamacare, have changed public health. Among the studies’ key findings: the richest 1% live up to 15 years longer than the poorest 1%; the same gap in life expectancy widened in recent decades, making poverty a powerful indicator for death; more than one-third of low-income Americans avoid medical care because of costs; the poorest fifth of Americans pay twice as much for healthcare as a share of income; and life expectancy would have grown 51.1% more from 1983 to 2005 had mass incarceration not accelerated in the mid-1980s. The poorest Americans have suffered in particular, with life expectancies falling in some groups even while medicine has advanced. All of these health outcomes arrive in the context of widening general inequality. The share of total income going to the top 1% of earners has more than doubled since 1970.
Note: For more along these lines, see concise summaries of deeply revealing news articles on income inequality and health.
Moving to address income inequality on a local level, the City Council in Portland, Ore., voted on Wednesday to impose a surtax on companies whose chief executives earn more than 100 times the median pay of their rank-and-file workers. The surcharge, which Portland officials said is the first in the nation linked to chief executives’ pay, would be added to the city’s business tax for those companies that exceed the pay threshold. Under the new rule, companies must pay an additional 10 percent in taxes if their chief executives receive compensation greater than 100 times the median pay of all their employees. Companies with pay ratios greater than 250 times the median will face a 25 percent surcharge. The tax will take effect next year, after the Securities and Exchange Commission begins to require public companies to calculate and disclose how their chief executives’ compensation compares with their workers’ median pay. The S.E.C. rule was required under the Dodd-Frank legislation enacted in 2010. Criticism of how much chief executives are paid has risen in recent years as their compensation has grown substantially. A 2014 study ... found that chief executive pay compared with the earnings of average workers had surged from a multiple of 20 in 1965 to almost 300 in 2013. “Income inequality is real, it is a national problem and the federal government isn’t doing anything about it,” [said Portland Mayor Charlie] Hales. “But local action replicated around the country can start to make a difference.”
Note: For more along these lines, see concise summaries of deeply revealing income inequality news articles 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.