The Supreme Court on Thurs rejected a challenge to an obscure provision of rump’s 2017 tax package.
The one-time tax on offshore earnings helped fund the massive tax cut permitted under #Congress’s limited powers of #taxation.
Some viewed the lawsuit as an effort to preemptively block Congress from creating a #WealthTax.
The #lawsuit was initiated by a Washington couple backed by the Competitive Enterprise Institute, an #AntiRegulatory advocacy group. Charles & Kathleen Moore were subject to $15k in taxes because of the 2017 #law, springing from #investments they had made in a company based in India that supplies equipment to small-scale farmers. The law created a 1-time #tax on certain #offshore earnings that had previously been exempt from #taxation unless the taxpayer brought the money back to the US. #SCOTUS
"We are witnessing a historic process -- Russians are leaving for the first time in two centuries," independent Azerbaijani analyst Elhan Shahinoglu told AFP.
#EU senior diplomats meeting on Wednesday agreed a compromise on using the estimated €4.4bn #WindfallProfits to aid #Ukraine, smoothing over a dispute about #Taxation and #ManagementCosts in #Belgium, the country where most of the frozen assets are held.
The EU deal opens the door to a broader discussion in the #G7 about using #Russia’s frozen billions of assets,
But I still think the best anti-monopoly approach would be a progressive profit tax linked to market share. The path to higher retained earnings would be to divide the monopoly into competing companies.
What is wrong with that idea? I'm too stupid to spot the problem.
By the way, detection of monopolies would mostly involve asking customers how many real choices they have. But wannabe competitors' complaints should also be considered.
'We are told on repeat that public services are unaffordable. Really, there are plenty of ways to fund them – it is just that a populist press & most politicians do not deem it legitimate'!