Treasurer Josh Frydenberg has returned from sick leave after being diagnosed with COVID-19 to promote the coalition government’s record on tax cuts, highlighting the significant difference with Labour’s policies as the federal election is approaching. However, shadow treasurer Jim Chalmers has said that Frydenberg’s push for the liberal party was a scare campaign, reasoning that…
Citizens Continue to Exit High-Tax US States
Commentary If you’re still wondering why raising the cap on the State and Local Tax (SALT) deduction was important enough to Democrats to sacrifice their stated principles and resort to brazen gimmicks in order to fit it into the reconciliation bill, look no further than the latest release of the IRS’s tax migration data, covering tax years 2018-2019. The data shows that…
Notice: ‘Free’ Means Taxpayer-Funded
Commentary The Big Government Socialists who have taken over the Democratic Party love to talk about “free” programs: Free community college, free childcare, free dental and eye care for Medicare, free public housing, free food stamps, the list goes on. Don’t fall for it. Sen. Bernie Sanders’ belief in socialism has now infected virtually the…
Taxing America First
Commentary Back in early 2016, when Larry Kudlow and I suggested that then-presidential candidate Donald Trump propose a 20 percent business tax rate for U.S. companies (down from the highest in the world rate of 35 percent), he enthusiastically endorsed this “America First” policy—not because he loved corporate America but because he realized that as…
UK’s Johnson Discussed Taxation With Amazon’s Bezos
September 21, 2021
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LONDON—British Prime Minister Boris Johnson discussed the issue of taxation when he met Amazon’s founder Jeff Bezos in New York, Downing Street said. “The prime minister raised the issue of taxation, and hoped progress could be [made] in implementing the G7 agreement on tax,” a Downing Street spokesperson said in a readout of the meeting….
Prime Minister Under Growing Pressure Not to Impose National Insurance Hike
Prime Minister Boris Johnson is under growing pressure from within his own party not to impose a manifesto-breaking national insurance hike to pay for social care. Former Prime Minister Sir John Major on Saturday joined the Conservatives warning against the widely-expected move targeting workers and employers by arguing it is “regressive.” Instead he called for…
Supreme Court Refuses To Hear New Hampshire’s Challenge to Massachusetts Taxing its Residents
The Supreme Court declined this morning to hear New Hampshire’s challenge to Massachusetts’s pandemic-era policy of taxing out-of-state residents who used to work in Massachusetts but switched to telecommuting from their New Hampshire homes during the pandemic. Billions of dollars in income taxes paid by people who worked from home during the pandemic were at stake…
Ready, Set, Fire—Federal Budget Signals Upcoming Aussie Election Spending Spree
Commentary There can be no doubt that the 2021-22 Australian federal budget announced last week was simply a spending spree. Policy decisions announced since October 2020 will be adding $31 billion a year to the deficit by 2023-24. In the context of a strengthening economy and already bloated public debt, this marks the 2021-22 budget…
Biden’s Hidden Tax Increase
Commentary Every American is going to pay higher taxes due to the Biden administration’s policies. Remember that inflation is a hidden tax. It is a powerful (and often unseen and unstoppable) way for a government to pay for its goods and services without raising visible taxes that make people angry. Warren Buffett is widely regarded…
Opinion: Three Reasons Why the Biden Tax Increase Makes No Sense
Commentary Anyone who believes the “rich” and large corporations will pay for $28 trillion in debt or the $2 trillion in new deficit has a real problem with math. Biden’s announcement of a massive tax increase on businesses and the wealthier segments of the population simply makes no sense. The tax hikes will have a…
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