Tag: Corporate Taxes

Amazon’s Hard Bargain Extends Far Beyond New York

SEATTLE — When Texas officials pushed Amazon to pay nearly $270 million in back sales taxes in 2010, Amazon responded by closing its only warehouse in the state and scrapping expansion plans there. Two years later, the officials agreed to waive the past taxes in exchange for Amazon opening new […]

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news analysis: Don’t Fight the Robots. Tax Them.

When Bill Gates floated the idea of imposing a tax on robots a couple of years ago, Lawrence Summers, a former top economic adviser to President Barack Obama, called the Microsoft co-founder “profoundly misguided.” How do you even define a robot to tax it? And taxing innovation is a sure […]

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New York Did Us All a Favor by Standing Up to Amazon

Imagine that a bunch of children are sitting around a table when a seemingly beneficent adult walks into the room carrying a plate of cupcakes. The kids burst out in excitement — until they notice a problem: There are fewer cupcakes than children. At this point, the adult announces some […]

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New York Returns 25,000 Jobs to Amazon

“You have to be tough to make it in New York City,” Mayor Bill de Blasio boasted, choosing to jeer at Amazon as it canceled its plans on Thursday to build a new headquarters in Queens, after some local officials angrily criticized its proposal. What a strange thing for the […]

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Amazon’s Exit Forces a Reckoning for N.Y. Political Leaders

[What you need to know to start the day: Get New York Today in your inbox.] Amazon’s sudden decision to cancel its plan to build a corporate campus in Long Island City, Queens, amounted to a stunning rejection for the two often-at-odds politicians who had heralded its arrival, Gov. Andrew […]

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The Global Con Hidden in Trump’s Tax Reform Law, Revealed

Last night, President Trump reserved a few minutes of his State of the Union address to praise his tax reform law, which turned a year old last month. To promote its passage, Mr. Trump and his congressional allies promised Americans that drastically lowered corporate tax rates would bring home large […]

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If You Shut Down the Government, You Slow Down the Economy

President Trump, you could not have wanted your partial government shutdown, your tariffs, your corporate tax cuts and your war on undocumented immigrants to hobble economic growth, and hurt farmers, factory workers, airline passengers, government contractors, retailers and Coast Guard members and F.B.I. agents. But the economy can only take […]

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Microsoft Is Pledging $500 Million for Affordable Housing in the Seattle Area

SEATTLE — Microsoft will invest $500 million to build affordable housing in the Seattle region, company officials said, in what would be the most ambitious effort by a tech company to directly address the inequality that has spread in areas where the industry is concentrated. The debate about the rapid […]

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A Gutted I.R.S. Makes the Rich Richer

Let’s take a moment to pity the Internal Revenue Service. Yes, to many Americans, it’s a money-grabbing ogre siphoning hard-earned cash to the faceless federal bureaucracy. But the nation’s tax collector today is an enfeebled enforcer. Its budget has been bled dry by a Republican Congress in service to wealthy […]

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Historic Cash Flows Returning to the U.S. for 3rd Quarter in a Row After Tax Act

Corporations are infusing money back to the U.S. from abroad in record numbers for the third quarter since passage of the Tax Cuts and Jobs Act to the tune of $92.7 billion dollars. Third quarter 2018 saw the fifth highest U.S. corporate repatriations, listed as dividends from foreign operations, in recorded U.S. history, according to […]

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The Corporate Donors Behind a Republican Power Grab

Walgreens portrays itself as the friendly neighborhood drugstore. It gives flu shots to children, helps communities after storms, donates to charity — and makes feel-good advertisements trumpeting its various good deeds. But Walgreens also has a tougher side, one you won’t see in those ads. To protect a tax break, […]

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Stock Market’s Slide Is Flashing a Warning About the Economy

Unemployment is near lows not seen in half a century. The American economy is set for its best year since 2005. Large corporations are producing giant profits. Even wages are starting to rise. And the stock markets are a mess. The losses extended on Tuesday, as the S&P 500-stock index […]

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Why Was Trump’s Tax Cut a Fizzle?

Last week’s blue wave means that Donald Trump will go into the 2020 election with only one major legislative achievement: a big tax cut for corporations and the wealthy. Still, that tax cut was supposed to accomplish big things. Republicans thought it would give them a big electoral boost, and […]

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New York Should Say No to Amazon

This week, word leaked that Amazon may be close to finalizing a deal to set up a major operation in Long Island City, Queens. The news, which was embraced with peak sycophancy by Gov. Andrew Cuomo — he literally offered to change his name to “Amazon Cuomo” to make it […]

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How the Trump Tax Cut Is Helping to Push the Federal Deficit to $1 Trillion

In the first quarter of this year, according to Commerce Department data, multinationals repatriated $306 billion, in the form of dividends. That was $270 billion above the average quarterly amount over the last five years. White House officials say that’s a sign that the tax law is working. Over time, that repatriation should generate tax […]

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Upheaval All Around, but U.S. Businesses See Smooth Sailing

Midterm elections have tended to result in a loss of seats for the party in the White House, with the president’s popularity working to amplify or blunt the impact. The economy generally plays a supporting role. Among Republicans, Mr. Trump’s overall approval rating is near 90 percent, although across the public as a whole, it […]

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Bank Earnings Climb in Growing Economy, but Lending Doesn’t Keep Pace

Tax cuts, deregulation and a buoyant economy were always expected to drive profits higher at most American banks in the latest quarter. But a nagging question has been hanging over the industry: Would banks, taking their cue from rising economic optimism and a friendlier White House, significantly increase their lending to businesses and households? On […]

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Government Work Done, Tax Policy Writers Decamp to Lobbying Jobs

Staff members on committees in Congress have also moved on. Perhaps the most high-profile departure this year was Mark Prater, the longtime tax counsel of the Senate Finance Committee who joined the tax advisory firm PricewaterhouseCoopers in June. In May, Brendan Dunn, the policy adviser and counsel to the Senate majority leader Mitch McConnell, left […]

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