Commentary The Proposition 13 tax limitation from 1978 is the foundation of California’s private-sector economy. It’s always under attack by those who want to raise taxes even higher. It makes owning property the only activity in the state that’s not taxed at a high rate. Specifically, its main part limits property taxes to 1 percent…
A New Attack on California’s Prop. 13 Tax Cuts
June 8, 2023
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UK Chancellor Rules Out Significant Tax Cuts as He Focuses on Cutting Inflation
UK Chancellor of the Exchequer Jeremy Hunt has ruled out “significant” tax cuts in the next budget as he put the top priority on reducing inflation. In a speech at Bloomberg’s London headquarters on Friday, Hunt said reducing inflation was the “only sustainable way to restore industrial harmony” in Britain as he suggested tax cuts…
It’s Official: Trump’s Tax Cuts Paid for Themselves
Commentary How many times have you heard President Joe Biden or Sens. Elizabeth Warren (D-Mass.) and Bernie Sanders (I-Vt.) berate the Trump tax cuts as “a giveaway to the rich”? Biden and congressional Democrats now want to let expire major planks of the Tax Cuts and Jobs Act of 2017, former President Donald Trump’s signature…
Electric Vehicle Tax Cut Passes Senate
Thousands of dollars will be slashed from the price of some electric vehicles in Australia after the Senate approved a tax cut following last-minute negotiations with crossbench senators. The Electric Discount Car Bill is expected to pass into law on Friday after the Senate voted in favour of the proposal by 31 to 24 votes….
Everyone Will Need to Pay ‘A Bit More Tax,’ UK Chancellor Says
Everyone in the UK will need to pay “a bit more tax” as the country seeks to balance its books, Chancellor of the Exchequer Jeremy Hunt has said. Hunt, who is set to deliver his autumn budget on Nov. 17, has declared he will be playing Scrooge as he sets out his vision to restore…
No, Tax Cuts Don’t Cause More Inflation
Commentary The narrative to attack any tax cut and defend any increase in government size is reaching feverish levels. However, we must continue to remind citizens that the constant bloating of government spending and the increasing of the size of monetary interventions are some of the causes of the widespread impoverishment of the middle class….
Truss Fights for Survival as Prime Minister After Her Economic Plan Ends in Ruins
UK Prime Minister Liz Truss is fighting for her political survival as MPs from her own party turn against her following the catastrophic consequences caused by her economic plan. Truss became prime minister on Sept. 5, but her position has been seriously weakened after her “mini-budget,” which included £45 billion ($50 billion) of unfunded tax…
UK Reverses Tax Cuts, Scales Back Energy Help to Calm Markets
October 17, 2022
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Business & Marketseconomic policieseconomyenergyJeremy HuntKwasi Kwartengliz trussMarketstax cutsUKWorld
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Britain’s new Chancellor of the Exchequer Jeremy Hunt has reversed the tax cuts promised by his predecessor and scaled back support for household energy bills in an attempt to restore financial stability following weeks of market turmoil. Hunt was brought in only last Friday to boost the UK government’s fiscal credibility after former Chancellor Kwasi…
Cutting Taxes ‘Right Thing to Do Morally and Economically’: UK Prime Minister
UK Prime Minister Liz Truss has defended her tax-cutting plan as “morally and economically” right but sought to allay concerns over rising government borrowing by pledging to be “fiscally responsible.” Addressing the Conservative Party conference in Birmingham on Wednesday, Truss promised to steer the country through the “tempest” and “get Britain moving.” It comes after…
UK Leaders Say They Value Fiscal Scrutiny After Tax Plan Sparked Market Turmoil
UK Prime Minister Liz Truss and Chancellor Kwasi Kwarteng have said they value the scrutiny from an independent fiscal watchdog, after their plan to fund massive tax cuts with government borrowing rattled investors and led to turmoil in the financial markets. At an unusual meeting held in Downing Street on Friday, Truss and Kwarteng told…
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