presidential election

Russian FinMin introduces first corporate and personal tax hike in two decades

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Russian FinMin introduces first corporate and personal tax hike in two decades

Russia’s Finance Ministry has proposed amendments to the tax code, including raising corporate income taxes and introducing a progressive personal income tax scale. The changes are expected to be passed by the State Duma before autumn 2024 and come into force in 2025. The proposed changes include raising corporate income tax to 25%, reintroducing a 5% income tax rate for IT companies, and setting thresholds for the progressive personal income tax scale. The reforms are estimated to increase consolidated budget revenues by RUB2.6 trillion in 2025. Despite the changes, Russia’s progressive personal income tax remains modest compared to other BRICS countries. The implementation of a progressive income tax could have negative impacts on economic growth and macroeconomic indicators.

Jury begins deliberations in,  Trump hush money trial

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Jury begins deliberations in,  Trump hush money trial

Jurors in Donald Trump’s criminal hush money trial began deliberations on Wednesday.

Jury in,  Trump trial to hear closing arguments before deliberations

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Jury in,  Trump trial to hear closing arguments before deliberations

Fact: New York prosecutors and Donald Trump’s lawyers made closing arguments at his hush money trial, where he faces 34 felony counts of falsifying business records.

Americans must pay higher taxes if they want to keep a high standard of living

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Americans must pay higher taxes if they want to keep a high standard of living

The U.S. government faces fiscal challenges that will require higher taxes, regardless of the presidential election outcome. The federal deficit is projected to grow to 6% of GDP by 2033, and debt held by the public will increase to 114% of GDP. The 2017 Tax Cut and Jobs Act simplified and cut individual income taxes and lowered business taxes, with most individual tax cuts expiring in 2025. President Biden’s proposed budget includes repealing benefits for high-income families and raising taxes on the wealthy. If former President Trump is reelected, the TCJA is likely to be extended, costing at least .3 trillion through 2033. Trump has proposed tariffs on imports from China and lowering the federal corporate tax rate. These proposals could lead to a financial “train wreck” for the nation.

California testing car tracking as possible gas tax replacement

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California testing car tracking as possible gas tax replacement

States, like California, are exploring alternative ways to recoup lost gas tax revenue by piloting a “road charge” program that charges drivers based on the number of miles they drive rather than how much gas they purchase. The program is optional and participants can earn up to 0 in incentives for providing feedback on their experience. The state is considering this alternative revenue source due to the decrease in gas tax revenue collection and the shift towards electric vehicles. The program includes security protocols to protect personal information, and no action or changes are currently being proposed.

Fake US election-related accounts proliferating on X, study says

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Fake US election-related accounts proliferating on X, study says

Fake accounts praising former President Donald Trump and criticizing President Joe Biden are increasing on the social media platform X, according to a report by Israeli tech company Cyabra. The study found that 15% of pro-Trump accounts and 7% of pro-Biden accounts are fake. The analysis also shows a tenfold increase in newly detected fake accounts during March and April. The fake pro-Trump accounts are part of a coordinated campaign to influence public opinion, while the fake pro-Biden accounts do not show signs of coordination.

Use Expiring Trump Tax Cuts To Overhaul The Entire Tax System, Groups Say

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Use Expiring Trump Tax Cuts To Overhaul The Entire Tax System, Groups Say

Progressive and economic groups are urging Congress to use the expiration of .6 trillion in tax cuts next year as an opportunity to revamp the U.S. tax system.

Iranian President Raisi, ’s memorial muted amid public discontent

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Iranian President Raisi, ’s memorial muted amid public discontent

Fact: President Ebrahim Raisi of Iran was killed in a helicopter crash near the Azerbaijan border along with his foreign minister and seven others.

Slovak PM Fico out of danger but condition serious, deputy says

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Slovak PM Fico out of danger but condition serious, deputy says

Slovak Prime Minister Robert Fico is in serious condition but no longer in immediate danger after an assassination attempt. The suspect, a 71-year-old former security guard, has been charged with attempted murder. The attack has raised concerns about the polarized state of politics in Slovakia. The government’s Ukraine policy and reforms have been cited as possible motives for the suspect’s actions. Calls for unity and toning down of rhetoric have been made across Slovakia’s political spectrum in the aftermath of the incident.

Anger, anxiety, acrimony: Slovaks weigh what led to Fico shooting

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Anger, anxiety, acrimony: Slovaks weigh what led to Fico shooting

Slovak opposition party leader Michal Simecka, his wife, and child received death threats following an assassination attempt on Prime Minister Robert Fico. The shooting highlighted deep political divides and toxic debate in Slovakia, with politicians calling for tolerance. Fico’s rapid policy changes raised concerns over the rule of law, leading to increased tensions and anxiety among the population. The suspect in the shooting targeted government policies on Ukraine, corruption, and public media reforms. Anxiety has grown in Slovakia since the parliamentary election campaign, with President Zuzana Caputova receiving death threats. The upcoming European elections have added to the unease, reflecting a global trend of increasing aggression in politics.