Who owns the Arctic and what exactly is so important about it? As climate change leads to the further melting of Arctic ice, countries are scrambling to stake their economic claim in the region. We examine these claims, explore what is driving the claims in the first place, and give some considerations in regards to the future of the earth’s “last frontier.”
States have a tax problem. The most consistently profitable companies in the Fortune 500 only pay about half the statutory federal income tax rate—a fourth pay less than 10 percent. Some even get refunds from Uncle Sam—despite making over $160 billion in pre-tax profits, an astounding 30 companies have enjoyed a negative income tax rate in the past three years.