Some extremely rich people are paying a much smaller share of their income on taxes than other folks.
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News about how little income tax some of the richest Americans reportedly pay is adding to questions about the value to society of their massive charitable donations.
Should America’s billionaires be paying more tax?
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Wriggling out of paying taxes may be legal, but is it right? Aristotle, Immanuel Kant – and others – have their say.
Jeff Bezos paid no taxes in some years despite gaining billions in wealth.
AP Photo/Patrick Semansky
A new report found that America’s top billionaires paid very little income tax despite tremendous gains in their wealth.
New tax office figures show only 2% of Australians earn more than $211,000 a year.
LMITO excludes low earners and isn't timely.
A lifestyle of the wealthy.
Raising income taxes for the super-rich can help ease the burden on government budgets and reduce inequality in society.
UK chancellor Rishi Sunak after his March 2021 budget.
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The UK government has an option to act boldly after Rishi Sunak’s latest budget.
Once paid, tax becomes the property of the government. Pretending otherwise undermines the basic principles of the social contract.
With their different but equally conservative income tax policies, both Labour and National ask voters to consider their own appetite for risk.
We’re all in this pandemic together. But we’re currently leaving it to a small proportion of the community to shoulder most of the economic pain. It’s an approach that’s compounding social and intergenerational…
A sign in Texas in 1939, at the end of the Great Depression.
(The New York Public Library/Unsplash)
The Canadian federal government’s COVID-19 Economic Response Plan includes tax-related measures. It’s helpful to examine tax supports for individuals by considering the past, present and future.
Digital traders will not escape taxation.
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Digital transactions generate massive amounts of revenue and the Kenyan government wants to ensure that online traders pay their fair share of taxes.
The evocative graphic shows the tax rate of high earners falling below that of low earners as 2018 approaches.
The graph says Americans on the highest incomes now face lower tax rates than Americans on low incomes. It’s a consequence of an unusual definition of income.
Win-win? No-one would be worse off under the UNSW proposal. Over time it should pay for itself.
High income families could get up to $1,080 per year, others $618, but it could still be worthwhile.
There’s a retro quality to Stage 3 of the Coalition’s tax plan, one the parliament ought to carefully consider before saying yes.
The Stage 3 cuts would make Australia’s income tax system the least progressive in 60 years.
Crash or crash through? Treasurer Josh Frydenberg and Prime Minister Scott Morrison walk to a meeting with the Reserve Bank governor on Wednesday.
In an interview with The Conversation, Frydenberg refused to be drawn on what the government would do if unable to get the whole bill through.
Still a US citizen and still liable for US taxes.
Yui Mok/PA Wire/PA Images
Taxation is not the only financial burden for overseas Americans.
The wheels of the economy will grind more slowly because of undeclared tax rate hikes in the budget.
The government promised to eliminate the 37% tax rate. Instead, for a certain range of income, it has lifted it to 40%.
To start with each side offers a “lamington” (Low and Middle Income Tax offset), then the differences get serious.
After some years the Coalition’s proposals would cost $40 billion per year more than Labor’s, but by then Labor will have probably cut tax further too.
What’s not to like about a flatter tax system? Well, for starters, the one laid out in this budget won’t actually simplify our lives.
Flat tax is simple, Kondo simple. But that doesn’t mean it simplifies lives.