Today's news from Sen. Bernie Sanders (I-Vt.):

Tax Evaders: In the worst recession since the 1930s, the largest financial institutions in the United States took a $700 billion taxpayer bailout and $16 trillion more from the Federal Reserve. Just two years later, at a time of mounting deficits largely created by the recession that Wall Street caused, the major financial institutions did everything they could to avoid paying American taxes by establishing shell corporations in the Cayman Islands and other tax havens, Sen. Sanders wrote in an op-ed published Thursday by the Rutland Herald. 

Tax Havens: One out of four profitable corporations pays nothing in taxes. Government revenue as a percentage of GDP is lower than at any time in history. Sen. Sanders and Jan Schakowsky have an answer. They introduced a bill that would raise $590 billion over the next decade and stop giving tax breaks to corporations for shipping jobs overseas, according to the San Diego Free Press. 

Chinese to Tax Carbon Emissions: China’s Ministry of Finance announced that the country will levy a tax on carbon emissions, the Xinhua news service reported. Policy experts in the United States and Europe have long argued that a carbon tax is the most effective way to reduce emissions of carbon dioxide and other greenhouse gasses, but implementing one in most large industrialized countries has always seemed politically infeasible. In the U.S., Sens. Barbara Boxer and Bernie Sanders have proposed a carbon tax of $20 a ton, the digital economics news service Quartz noted. 

Campaign Funding: The Supreme Court on Tuesday agreed to hear a challenge to federal campaign contribution limits to political candidates. “The laborious route of a constitutional amendment stating plainly that corporations are not people and that money is not speech is really the only avenue left in reforming what the Court has done … The simplest one with the straightest line would seem to be the one that Bernie Sanders has been pushing,” Charles Pierce blogged for Esquire.  

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