Foreign Investment in the U.S. (01:03)
"Home Alone", "Jeopardy," Burger King, Tropicana and local golf courses are owned by companies in other countries.
Sponsor Message (00:56)
Sponsor Message: America: What Went Wrong? (Part Two)
Global Economy and the U.S. (01:35)
Moyers explains how foreign owned companies exploit domestic employees. View a speech by George Bush, Sr. about strengthening the domestic economy.
Ravenswood Aluminum Company (07:33)
A steel worker and his wife appeal to Americans to fight against corporate greed. His factory was taken over by tax fugitive Marc Rich who locked union members out during negotiations.
Legislation Favoring Tax Criminals (02:48)
Authors Donald L. Barlett and James B. Steele discuss how Washington protects corporate interests such as Rich.
Tax Breaks for Foreign Investors (02:47)
Revenue of foreign owned companies increased by 50% but income tax rates by only 2% during the '80s. U.S. tax payers are saddled with the difference.
Income Tax Inequalities (04:47)
Learn how corporations write off the majority of their revenue, while American citizens are excluded from breaks. Despite the 1986 Tax Reform Act, companies like Carnival continue to profit through shelters.
Tax Reform Failure (02:24)
Learn how 1986 legislation promoted for “leveling the playing field” actually exempted individual corporations from income tax.
Whitehall Laboratories (09:18)
An Indiana couple was laid off when their pharmaceutical company moved to Puerto Rico for a tax break. Union efforts to amend the IRS code are frustrated by corporate lobbying.
Washington Tax Shelters Incentives (01:59)
Corporations lobby Congress to protect their interests at the expense of taxpayers—including moving production to Puerto Rico.
U.S. Economy Debate (03:49)
Barlett and Steele compare Washington tax laws to an unsupervised hockey game. Susan Lee and Ed Rubenstein argue that jobs were created in the '80s and lower income citizens are exempt from taxes.
U.S. Transfer of Wealth (04:07)
Barbara Ehrenreich explains that the income gap widened during the '80s while Lee argues that the elderly benefited from increased social security tax rates.
Wall Street's Impact (02:02)
Barlett and Rubenstein debate whether increased numbers of millionaires are benefiting the economy. Lee argues that investment has made American industry competitive.
Trickle Down Debate (03:47)
Ehrenreich cautions that the widening inequality gap will damage democracy while Lee and Rubenstein believe economic growth alleviates social tensions.
Subsidizing Economic Restructuring (03:15)
Bartlett cautions against exporting U.S. jobs without replacement industries; Lee argues that comparative advantage is crucial for global trade.
Corporate Tax Debate (01:49)
Bartlett and Rubenstein disagree over individual vs. corporate income tax statistical trends.
American Plutocracy (02:36)
Economic experts debate over corporate incentives to move overseas. Ehrenreich argues that their influence over Congress threatens U.S. democracy.
Credits: America: What Went Wrong? (Part Two) (01:14)
Credits: America: What Went Wrong? (Part Two)
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