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Monopolies are bad. Regardless of your political views, that statement probably elicited nothing stronger than a yawn. Why? Because even some of the most ardent free market crusaders recognize the dangers of monopolistic power. Competition is the great driving force behind our economy, producing innovation, rewarding efficiency and good management, and reducing prices. Monopolies produce …
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With lawmakers scrambling to pass a new coronavirus stimulus bill as enhanced unemployment benefits expire on Friday, Senate minority leader Chuck Schumer (D., N.Y.) is pushing to repeal the cap on the state and local tax (SALT) deductions that primarily benefit high earners in states with high taxes. The debate over money for state and …
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Treasury Secretary Steven Mnuchin said Thursday that the payroll tax cut President Trump has pushed for will not be in the fifth coronavirus relief package Senate Republicans are crafting. “It won’t be in the base bill,” Mnuchin said in an interview with CNBC. “One of the problems with the payroll tax cut is it takes time, …
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State tax receipts plummeted by $1.5 billion, or 17.3 percent, in June compared to the same time a year ago as New York continues to suffer from the coronavirus pandemic, according to a new report. “As steps toward an economic reopening continue, state tax revenues remain far short of pre-pandemic levels,” said state Comptroller Tom …
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H.L. Mencken once wrote that, “Every election is a sort of advance auction sale of stolen goods.” 2008 April 15 is the date on which the goods are stolen and on a Tuesday in early November—Election Day—the loot is distributed. The thieves, for the most part, are our politicians. Harsh words? Not nearly as harsh …
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Apple on Wednesday was handed a major victory by Europe’s second-highest court, which rejected a European Union order for the tech giant to pay $15 billion in back taxes. It is the culmination of a tax battle that has been raging since 2016, when the European Commission ruled that Apple had artificially reduced its tax …
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Texas officials are ready to give Tesla millions of dollars in tax breaks to build its next factory in the Austin area. Commissioners in Travis County voted Tuesday to give Elon Musk’s electric-car maker at least $14.7 million in property tax rebates if it spends at least $1.1 billion on the proposed plant near the …
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Johnny Depp on Monday claimed then-wife Amber Heard hit him with a “haymaker” punch on her 30th birthday — hours after he found out he’d lost a staggering $750 million. “Since Pirates [Of The Caribbean] 2 and 3, I had – and this is ludicrous to have to state, it’s quite embarrassing – apparently I …
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One thing governments show us over and over again is their promises are almost always broken. This should concern us greatly since the “war” on COVID-19 will bring many promises from Congress that will never be realized but will cost us a lot of money anyway. Our federal government promised to balance the budget every …
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Imagine the boost to the economy if Trump cut taxes on the lowest two brackets to zero. The Beltway is abuzz about the next step to bring the economy back to life. President Trump apparently supports a second round of the $1,200-per-person stimulus payments. Some administration advisers and congressional figures have called for temporarily suspending the …
Monopolies are bad. Regardless of your political views, that statement probably elicited nothing stronger than a yawn. Why? Because even some of the most ardent free market crusaders recognize the dangers of monopolistic power. Competition is the great driving force behind our economy, producing innovation, rewarding efficiency and good management, and reducing prices. Monopolies produce …
