Tag: Taxes

Amazon Drops New York City Headquarters Plan in a Snit

When Alexandria Ocasio-Cortez and Michael Bloomberg agree on something, it’s worth taking seriously. Particularly if it involves New York City. Both New York City pols objected to the corporate welfare plan for Amazon, in the form of nearly $3 billion in subsidies, detailed in the Financial Times chart below, for […]

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And Now This Message From Some Very Rich People: ‘Please Raise Our Taxes

Yves here. IMHO, the bigger deal in this tax proposal is closing the carried interest loophole, which would trim the sails of private equity and hedge fund barons. It’s also striking to see the factually-challenged, knee-jerk reaction from Cuomo on raising taxes on the rich. When I was a young […]

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The American Tax Debate

Yves here. Since the economists mentioned below got in quite a fistfight, I’ll only add one observation: the notion that higher taxes mean entrepreneurs would leave is nonsense. Starting a new business requires above all customers. A foreign transplant won’t have them and will be disadvantaged in acquiring them. And […]

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AT&T Continues Laying Off Americans After Profiting Billions from Tax Cut

Multinational conglomerate AT&T is continuing to layoff American workers across the United States after raking in billions in additional profits from the 2017 Tax Cuts and Jobs Act. Despite enjoying a $20 billion tax windfall from President Donald Trump and the GOP’s tax cuts in late 2017, AT&T executives are starting off the new year by […]

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Brexit “Singapore on the Thames” Fantasies

Yves here. The UK’s post-Brexit “Singapore on the Thames” pretenses should be laughed out of the room. Anyoe who has been paying attention knows that the UK and its Crown Dependencies are already a monster tax haven; pray what more is there to be gained with Brexit? And as this […]

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California’s Gavin Newsom Proposes Tax on Drinking Water in First Budget

California Governor Gavin Newsom proposed his first budget for the state on Friday, and it includes a tax on drinking water. The budget, titled “California for All,” declares drinking water a “fundamental right,” and adds: “The Budget includes short-term measures to bring immediate relief to communities without safe drinking water and also proposes an ongoing […]

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Majority of Wealthy Support Hiking their Taxes to Stop Illegal Immigration

America’s top earners, by a majority, support a plan to raise taxes on themselves in order to help stop illegal immigration to the United States. A new Rasmussen Reports Poll finds that Americans earning $200,000 or more are the only economic demographic group willing to hike taxes on themselves to stop rising illegal immigration levels […]

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France’s Macron Makes Concessions While ‘Yellow Vest’ Protests Continue

Yves here. This Real News Network segment gives some broader context for the gilets jaunes movement. Note that in an address on Monday, Macron apologized and gave some economic concessions, like raising the minimum wage by 100 euros a month and ending taxes on overtime work, but did not reinstate […]

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White House Wants to End EV Subsidies ASAP

White House economic adviser Larry Kudlow announced Monday that the Trump administration is seeking an end to federal subsidies on electric cars. Interestingly, the move appears to be related to General Motors’ plant closings and layoffs. The company’s restructuring plan hasn’t gone over well with policy makers or the American public, […]

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French Motorists Spark ‘Yellow Vest’ Protests and Riots Over Fuel Taxes and Regulations (UPDATE: New Green Taxes to Be Suspended)

Despite everything  you’ve heard about road rage, motorists tend to be pretty meek — at least when it comes to government regulations, and particularly in Europe. They passively accept, and pay for, mandated safety and emissions regulations as well as for taxes on the fuel for their vehicles. Perhaps, though, […]

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France and Germany propose digital advertising fees after tax on tech giants fails

A new proposal by French and German officials aims to impose a 3 percent tax on digital advertising, a move no doubt intended to target Facebook and Google. Those two companies control the lion’s share of the digital ad market, though certainly all online companies who sell advertising would feel […]

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Michael Olenick: A Quick Look at the Gilets Jaunes Protests

Yves here. Some additional overview material on France’s gilets jaune protests: 1. They have overwhelming public support. 2. Even though the flashpoint was taxes and inspections designed to cut greenhouse gasses, the grievances are about austerity and cut in services. Recall that Macron ended the wealth tax when he took […]

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The Global Financial Crime Wave Is No Accident

By Nat Dyer, a freelance writer based in London. He was previously an investigator and campaigner at Global Witness, an anti-corruption group. He tweets at @natjdyer. Originally published at openDemocracy There was a little bit of good news this month for those worried about a tidal wave of McMafia-style financial […]

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‘A Staggeringly Bad Idea’: Pelosi Pushes Tax Rule That Would ‘Kneecap the Progressive Agenda’

By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She is currently writing a book about textile artisans. Once again, corporate  Democrats are determined  to snatch defeat from the jaws of their recent House electoral victory. As Common Dreams tells the story, in A Staggeringly […]

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Trump and the Midterms: Is It Not The Economy, Stupid?

By Barkley Rosser, Professor of Economics at James Madison University in Harrisonburg, Virginia. Originally published at EconoSpeak On many Mondays I indulge in taking Robert J. Samuelson to task after his regular Washington Post column of the day.  Today he was almost right, or if you prefer, even mostly right.  […]

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Marshall Auerback: Apple Has an Early Case of GE’s Disease

By Marshall Auerback, a market analyst. Produced by the Independent Media Institute The boom witnessed in the U.S. equity market over the past few years has begun to echo the latter stages of the high tech bubble of the early 2000s, right down to the investor interest ultimately gravitating toward […]

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Pence to Obama: Economy Booming Because Trump Administration Rolling Back Failed Obama Policies

Vice President Mike Pence had a message for former President Barack Obama at the Values Voter Summit Saturday: the American economy is booming because the Trump administration is rolling back Obama administration policies. “It’s been two years of promises made and promises kept, and we’re just getting started,” Pence told the conference audience in Washington, […]

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Some DC taxes are going up: A pack of cigarettes will cost a lot more

WASHINGTON — Several D.C. tax rates change effective Oct. 1, coinciding with the start of the District’s 2019 fiscal year. Here’s a list of D.C. taxes going up: The general sales tax will go from 5.75 percent to 6 percent. The off-premises alcohol tax (for beer, wine and liquor bought at stores) will go from […]

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Blue State Blues: Nancy Pelosi’s Agenda — Impeach Trump, Raise Taxes, Bail Out Obamacare

Former Speaker of the House Nancy Pelosi (D-CA) is set to take the gavel again, polls and pundits suggest. The House Minority Leader managed to survive leading her party to one of the worst defeats in congressional history in 2010, after she ballooned the deficit and pushed Obamacare through passage. In most democracies, defeated party […]

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Betsy DeVos’s multimillion yachts fly foreign flags because paying taxes isn’t ‘America first’

Remember a couple of weeks ago, when one of Betsy DeVos’s $40 million yachts was untied from a dock in Ohio? DeVos’s SeaQuest Yacht, docked in Huron was left unmoored overnight. Conservatives everywhere freaked out that communists were attacking American patriots and poor Betsy DeVos might have to pay to have some painting touchups done to the […]

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