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…
Tax Bill Gates’s and Jeff Bezos’s Family Foundations
Commentary Governments are about to launch a free-for-all of taxes to pay for the free-for-all of spending on COVID-19—taxes on income, on wealth, on beer and billionaires, on Netflix, on carbon, on real estate transactions, on stock holdings, on international holdings, on just about everything. But the tax-and-spenders now in control of the United States,…
Biden Corporate Tax Hikes Will Send Jobs Overseas
Commentary President Joe Biden has proposed $4 trillion in tax increases on American families and businesses. While Biden touts his tax hike plan as a way to ensure corporations “pay their fair share,” the proposal will harm the U.S. economy at a time that it is recovering from the Coronavirus pandemic. These tax hikes will…
Debate Heats Up Over How Countries Tax Big Tech Companies
FRANKFURT, Germany—An international debate over how countries tax big U.S. technology companies such as Google, Amazon, and Facebook is heating up, presenting a challenge for President Joe Biden’s new administration. A mid-year deadline is on the horizon for talks about a global deal to defuse trade disputes with France and other countries that are imposing…
New Hampshire Sues Massachusetts in Supreme Court Over Extraterritorial Income Tax
Backed by 14 other states, New Hampshire is suing Massachusetts because the Bay State is taxing New Hampshire residents who work remotely in their home state for employers located in Massachusetts, a practice New Hampshire says is unlawful. “Massachusetts’ current position is a far cry from our country’s rallying call of ‘no taxation without representation,’…
Massachusetts Taxes New Hampshire Residents. New Hampshire Goes to the Supreme Court.
Backed by 14 other states, New Hampshire is suing Massachusetts because the Bay State is taxing New Hampshire residents who work remotely in their home state for employers located in Massachusetts, a practice New Hampshire says is unlawful. “Massachusetts’ current position is a far cry from our country’s rallying call of ‘no taxation without representation,’…
Government Should Abolish Inheritance Tax, Says Former Chancellor Zahawi
Conservative MPs have called for the abolition of the inheritance tax, with former chancellor Nadhim Zahawi suggesting it was “morally wrong” to take someone’s assets on their death. Writing in The Telegraph, Zahawi argued that inheritance tax negatively affects personal finances and the wider economy. “Inheritance tax is that other spectre that haunts us alongside…
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