- 8 years ago Sticky: Welcome to t/tax! Come and introduce yourself.
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+48 +1
The town that took itself offshore to expose tax avoiders
When independent traders in a small Welsh town discovered the loopholes used by multinational giants to avoid paying UK tax, they didn’t just get mad. Now local businesses in Crickhowell are turning the tables on the likes of Google and Starbucks by employing the same accountancy practices used by the world’s biggest companies, to move their entire town “offshore”.
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+53 +1
Marijuana tax to fund college scholarships in Colorado
Starting in 2017, high school graduates in one Colorado county will be able to turn to a college scholarship funded by marijuana tax. On Tuesday, 60% of voters in Pueblo County approved a measure that will phase in an increase in taxes --- 5% by 2020 --- on marijuana growers to fund college scholarships and other community projects.
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+19 +1
Five Tax Fallacies Invented by the 1%
We hear these claims often, even though they're entirely false. An analysis of the facts should make that clear.1. The Rich Pay Almost All the Taxes That's simply not true. The percentage of total taxes paid by the very rich (the top 1%) is approximately the same as the percentage paid by middle class Americans (the 4th quintile, average income $68,700).
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+19 +1
Ted Cruz's 'crazy' tax plan would cost US at least $16tn, thinktank says
Analysis by left-leaning Citizens for Tax Justice concludes presidential candidate’s plan to shut down the IRS and set up a flat tax would be devastating
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+17 +1
Icelanders flocking to the Zuist religion
A new religion, Zuism, based on the worship of the ancient Sumeran gods promises a refund for government religion taxes for everyone registering with their religious group in Iceland.
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+18 +1
We Don’t Want Mark Zuckerberg’s Charity
Every dollar in Mark Zuckerberg’s private charity is a dollar wrested from public coffers — and democratic control.
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+37 +1
How Taxpayers Keep the NFL Rich
Over three marvelous spring days in 2015, the National Football League threw itself a party otherwise known as the annual draft. The NFL took over Chicago’s storied lakefront Grant Park, where, in November 2008, Barack Obama had addressed a vast throng to accept the presidency of the United States. Some 200,000 football fans, including parents with kids, milled around in Grant Park, temporarily renamed Draft Town. Gigantic letters spelling out “NFL”...
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+20 +1
Trump resurrects 'death tax' myth in Iowa
Speaking to farmers in Spencer, Iowa, on Saturday, 2016 GOP front-runner Donald Trump declared, "We are going to get rid of the estate taxes that are making the farmers sell their farms." That came as no surprise, given that congressional Republicans and virtually every recent GOP White House wannabe shares the same position. But Trump's rhetoric turned doubly ironic when he said this next: "It is a very bad thing, and it is killing people in Iowa. I know that for a fact."
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+57 +1
Switzerland signs deal to end banking secrecy
Switzerland, in an effort to combat tax evasion and money laundering activities, has agreed to a deal with the Organisation for Economic Co-operation and Development (OECD) agreeing to exchange data with 60 other countries that will effectively end its banking secrecy. Switzerland is the world’s largest offshore wealth center, with an estimated $2.2 trillion in assets compared to a $632.2 billion GDP.
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+45 +1
How Microsoft moves profits offshore to cut its tax bill
Cash doesn't flow directly from buyers' pockets to Microsoft's headquarters in Redmond, Wash. Instead, the company operates through three regional sales units, centered in Ireland, Singapore and Puerto Rico. These groups control the rights to profit from Microsoft products around the world. By conducting sales from places with small populations and low tax rates, and routing some profit through virtually tax-free jurisdictions like Bermuda...
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+41 +1
Is Vast Inequality Necessary?
**Submitter's Note: view this site in Privacy/Incognito mode.** How rich do we need the rich to be? That’s not an idle question. It is, arguably, what U.S. politics are substantively about. Liberals want to raise taxes on high incomes and use the proceeds to strengthen the social safety net; conservatives want to do the reverse, claiming that tax-the-rich policies hurt everyone by reducing the incentives to create wealth.
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+39 +1
Here's what the tax code would look like if Bernie Sanders got everything he wanted
Bernie Sanders has a lot of plans. He's got his single-payer health care plan, his tuition-free college plan, his infrastructure plan, his youth jobs plan, his expanded Social Security plan, his (borrowed from Kirsten Gillibrand) paid family leave plan, and many others. And for every plan, he's got an idea to pay for it.
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+40 +1
Missouri Paid Executioners $250,000 In Cash, Possibly Violating Tax Law
The state pays its small team of executioners in cash to limit the paper trail. The state isn’t sending proper paperwork to the IRS — experts told BuzzFeed News that it could be contributing to tax evasion.
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+29 +1
Congress Gives Final OK to Banning Local Internet Taxes
Congress voted Thursday to permanently bar state and local governments from taxing access to the Internet, as lawmakers leapt at an election-year chance to demonstrate their opposition to imposing levies on online service. On a vote of 75-20, the Senate gave final congressional approval to the wide-ranging bill, which would also revamp trade laws. President Barack Obama is expected to sign it.
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Current Event+1 +1
Consumers Warned of New Surge in IRS E-mail Schemes during 2016 Tax Season
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+34 +1
Number of Americans renouncing U.S. citizenship jumps 20% in 2015
More Americans than ever before are turning their backs on the United States. The number of citizens and long-term residents cutting their official ties to Uncle Sam jumped more than 20% last year to 4,279, according to a CNNMoney analysis of the latest government data. It's a trend that's been increasing in recent years. Many of those severing links are Americans living overseas who are tired of dealing with complicated tax...
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+21 +1
Major banks deny claims they helped clients avoid tax - BBC News
International banking giants have denied allegations that they helped clients to avoid tax by using complicated offshore arrangements.
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+29 +1
Tax havens don’t need to be reformed. They should be outlawed.
The Panama Papers are not really about a central American state. They are a glimpse through a Panamanian keyhole of an orgy of tax evasion, money laundering and kleptocracy – amid the legitimate financial planning – hosted by the world’s tax havens. Seven years after world leaders came together at a post-financial crisis G20 summit in London and committed to end tax haven abuse, it is clear from these papers that no such end is in sight.
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+33 +1
New Treasury rule could make it easier to hide money in the US, critics say
The US Treasury is re-examining its policies regarding shell companies, which can serve as tax havens for the rich, in the wake of the leak of 11.5m documents from the Panama-based law firm Mossack Fonseca. Experts, however, are worried that instead of limiting the ability to hide wealth, one rule under review could actually enhance it. At the moment, firms like Mossack Fonseca can provide their clients with officers and shareholders for their shell companies..
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+24 +1
This Delaware Address Is Home to 200,000 Shell Companies—Including Hillary Clinton’s
The address “1209 North Orange Street” in Wilmington, Del., has become known in recent years as the epicenter of U.S. corporate secrecy. The squat, split-level building is the official address of