The tax cuts only look big when compared to no cuts, an alternative that isn’t realistic.
Some earners will take home less after a tax switch legislated years ago and now supported by both sides of parliament.
Keeping these aspects of taxation in mind can help us hold governments accountable for the taxes that they try to implement and prevent future unethical and legally questionable taxes from being put in place.
Taxes are more than mandatory payments required by governments. Understanding the essential aspects of taxation can help prevent ethically and legally questionable taxes from being imposed.
Adjusting tax brackets in line with inflation would ensure voters who wanted more government spending would also have to vote for more tax.
Even the simplest 1040 tax returns are facing delays.
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The IRS has yet to finish millions of returns from the 2021 tax season. That doesn’t bode well for 2022.
Several lawmakers from high-tax states like New York are pushing for changes to a key tax deduction in Democrats’ $3.5 trillion spending package.
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The 2017 tax cuts put a $10,000 cap on the deduction for state and local taxes. The richest households would see the biggest gains from eliminating or raising the cap.
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.