This week you'll find me arguing for tourism taxes.
::a hail of rotten vegetables::
Wait! Wait! Hold on!
"Tourism is a vital source of revenue for local economies worldwide—but it also is a significant contributor to environmental degradation and social inequity.
Policies such as Hawaii’s proposed $25 per-visitor tourism tax, as well as similar policies in Italy and Bali, aim to mitigate the harmful environmental effects of tourism…”
"[NZ] Governments of both the left and right invested heavily in public infrastructure such as water, roading and power networks from the 1940s to early 1970s, paid for with sharply higher income taxes, land taxes and estate duties. Government investment as a share of GDP ranged from 10-15% over that period and income tax rates were over 50% for many."
Next time someone tells you that taxing income from capital gains and inheritances is unthinkable in NZ, let alone a land tax, ask them if they know we used to have all three until the 1980s.
Probably time to #tax the hell out of the rich. Increase #capitalgains put a tax on #stockbuybacks make a #weathtax real etc
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“The economy is cooling but the US is a frog in hot water
Government debt held by the public grows from 99 percent of GDP this year to 116 percent in 2034, more than twice its 50-year average...” #economy#gdp#debt
For >100 yrs, since Donald Trump’s grandfather started buying land in NYC, the #Trump family has run a real estate business in NY.
Barring a successful #legal appeal of Fri’s decision by a NY Supreme Court judge, that could change.
After finding that #TrumpOrganization executives had engaged in years of #fraud by inflating their #property values to get better #insurance & #tax rates, #Engoron ordered that the company operate under the close eye of 2 overseers, a monitor & an independent director of compliance, to ensure #compliance w/ #financial reporting obligations.
In other words, #Trump can remain the owner, but he has lost control.
The electricity and water use required by data centres is becoming cause for concern. Iowa and Ireland are calling for moratoriums on new development projects. Microsoft’s global water consumption grew 34% from 2021 to 2022. And estimates say that around 80% of content in data centres could be stuff we never use again, stored by default to consume energy in perpetuity for no purpose at all.
Hive-minding this one. My taxes are basically the most simple they could be and little has changed since last year (similar amount, same work, same method of filing, no dependents or ANYTHING like that). I can't remember if I've gotten one of these letters before, I feel like maybe I have? Anyone else ever get one? Does it delay your refund massively?
Found more info on the tax refund delay from the IRS (and thank you for everyone's help the other day- @mayorbeetles@artlung and @buermann). Check this video. Probably the Path Act/Child Tax Credit stuff. Looks like they're making sure those go out first.
In comparison, I filed my state taxes DAYS later (on Feb 9) than I did the federal (Jan 30) and I just got my state refund today, Feb 14 (luckily, for wifey's birthday). That's 5 days later. That's how doing taxes via CashApp is SUPPOSED to work.
In the #tax world, #Moore is sucking up all the air in the room -- but quietly Loper Bright could do an incredibly amount of violence to tax regs.
"The specific case of Microsoft’s alleged $28.9 billion tax bill places a low-end immediate estimated cost for Chevron’s end. The Loper Bright decision will be released before the Microsoft case is resolved—and the former may well render the latter moot."
So here's a crazy idea: require that ANY #tax write-off by a corporation be forced to create a clear public benefit. For example, a tax write off on creative work (like what WBD is doing with movies) would require that the work be released in the public domain; a tax write-off on research would require that patent rights on said research expire; a tax write-off on assets would require a drop on the price of said assets to the public.
Calling all political scientist: Any research out there on how having to file your own taxes — and essentially spending several hours each year trying to find ways to (legally) game the big bad government — noticeably changes public opinion about government? https://www.nytimes.com/2024/02/06/opinion/irs-intuit-tax-season.html #tax
Taxing great #wealth to finance the ecological and social transition. 💰
The European Citizens' Initiative, is a powerful tool for EU citizens to propose policy changes. Securing 1 million signatures prompts the Commission to review proposals.
A notable initiative is a call for a pan-European #tax on the ultra-wealthy. It would be used to combat #climatechange and #inequality.
It's a bold proposal worthy of support. I have already signed.
"Congressional #Republicans' efforts to cut IRS funding show that they prioritize letting the wealthiest Americans and big corporations evade their taxes over cutting the deficit," said the director of the National Economic Council.
The Internal Revenue Service says it could collect around $560 billion largely from rich tax cheats and big corporations over the next decade—
#Senate Investigation “Casts Fresh Doubt” About the Validity of Harlan Crow’s Yacht Tax Deductions
In their extensive probe, Senate investigators found evidence to suggest that billionaire GOP megadonor Crow has made repeated misrepresentations to the U.S. government.
ProPublica revealed the #tax maneuvers in a previous story.
For this week's newsletter intro I (briefly) lay out the case for a #tax on streaming providers for use of public infrastructure.
Hear me out!
“The tax theoretically could make a streaming giant indirectly contribute to the upkeep of a municipality’s public utilities in an amount that correlates with its usage (as determined by profitability).”
*Georgia election conspiracy case: Trump and 18 of his allies are accused of violating Georgia's RICO Act by orchestrating a "criminal enterprise" to subvert his 2020 election loss in the state. He is charged with 13 counts, including solicitation of violation of oath by public officer, conspiracy to commit forgery, and false statements and writings.
*NY Trump indicted on 34 felony counts of Fraud falsifying business records in New York, indicted on orchestrating a scheme to conceal the payments from regulators and voters.
*Washington, D.C. Capitol attack case: Trump is charged with four federal crimes for his role in inciting the Jan. 6 insurrection at the U.S. Capitol.
*Trump is charged with 40 counts of stolen and concealed National Defense documents & sharing them with foreign leaders & unauthorized individuals, unauthorized disclosure of national defense information, unauthorized possession of national defense information & unauthorized removal and retention of classified documents or material.