policy

Business groups and lawmakers battle over ballot measure to limit California tax increases

by
Business groups and lawmakers battle over ballot measure to limit California tax increases

Californians will be paying billions of dollars in federal and state income taxes and property taxes this month. The state of California levies the highest taxes per capita in the nation at ,200 annually, totaling about 0 billion a year. Governor Gavin Newsom has rejected tax hikes and proposes a budget that closes the deficit with spending deferrals, bookkeeping maneuvers, loans, and money from the state’s rainy day reserves. There is increasing discontent among residents about their tax burdens, leading to a rejection of a tax increase measure in 2020. A measure has been qualified for the November ballot that would make raising state and local taxes more difficult, requiring two-thirds votes for any increases. This has sparked a legal and political war between Newsom, the Legislature, and pro-tax interests.

Swiss press say , ‘absurd’ European climate ruling could harm democracy

by
Swiss press say , ‘absurd’ European climate ruling could harm democracy

The European Court of Human Rights ruled in favor of over 2,000 Swiss women who claimed Switzerland had not done enough to combat climate change. This ruling is expected to encourage more people to bring climate cases against governments.

Who Pays Taxes in America in 2024

by
Who Pays Taxes in America in 2024

– America’s tax system is just barely progressive, with room for improvement to combat economic, wealth, and racial inequality.
– The share of all taxes paid by the rich slightly exceeds the share of total income they receive.
– The share of all taxes paid by the poor is slightly less than the share of income received by the poor.
– The tax system would appear less progressive if it included unrealized capital gains.
– Federal tax system is relatively progressive, while state and local taxes are mostly regressive.
– Federal personal income tax, corporate income tax, and estate tax are considered progressive.
– Payroll tax, including Social Security tax, is not particularly progressive.
– Tax laws enacted over the past 25 years have made the tax system less progressive.
– Some politicians claim the tax system is too progressive, but data shows it is not as progressive as claimed.
– President Biden has proposed tax reforms to raise trillions in new revenue.
– The IRS has documented that hundreds of billions of federal taxes owed each year go unpaid due to underreporting of income.

Freeland doesn’t rule out new taxes on wealthy or corporate Canada in upcoming budget

by
Freeland doesn't rule out new taxes on wealthy or corporate Canada in upcoming budget

Finance Minister Chrystia Freeland has ruled out raising taxes on the middle class in the upcoming federal budget, but has not confirmed if corporations or the wealthy will face tax increases.

Harris completes steadfast journey to become Ireland, ’s youngest premier

by
Harris completes steadfast journey to become Ireland, ’s youngest premier

Simon Harris became Ireland’s youngest ever prime minister on Tuesday. He started his political career at a young age, being described as a “well-known local activist” at 16 years old. He has a strong work ethic and attention to detail, and is known for his involvement in politics to support his autistic brother. Harris is facing the challenge of regaining support for his party and may need to form coalitions with independent candidates. Despite pressure to move Fine Gael towards a more center-right position, Harris is proud of the social progress made in Ireland and is unlikely to make a significant shift in ideology.

‘Migration has a humanitarian aspect’

by
‘Migration has a humanitarian aspect’

Interior Minister Constantinos Ioannou highlighted the importance of handling migration in Cyprus due to the country’s proximity to regions with political crises and conflicts. The government has implemented changes to asylum rules, increased inspections to prevent illegal employment, launched an online information campaign, and focused on breaking down smuggling rings. As a result, arrivals and asylum applications have decreased, with a significant drop in asylum seekers from African countries. The government is also working on improving infrastructure and creating a pre-departure center to strengthen the deportation sector. Additionally, Cyprus ranks first in the EU for the percentage of departures over arrivals and fourth in absolute numbers of returns and expulsions. Integration and social inclusion of immigrants are also important, with a comprehensive policy in place for housing, employment, skills improvement, education, and health.

Cyprus appoints new ECB member, just in time

by
Cyprus appoints new ECB member, just in time

Christodoulos Patsalides was appointed as the new Central Bank Governor of Cyprus, replacing Constandinos Herodotou. Patsalides, a former deputy CEO of the Bank of Cyprus, was sworn in just in time to attend the ECB monetary policy meeting in Frankfurt.

‘Those who care about Disy should be with us, not against us’

by
‘Those who care about Disy should be with us, not against us’

Fact: Disy leader Annita Demetriou emphasized the importance of unity within the party and stated that Disy is focused on setting out political positions and policy interventions.

Keravnos targets enrichment of economic model

by
Keravnos targets enrichment of economic model

Fact: The finance minister of Cyprus, Makis Keravnos, emphasized the importance of enriching Cyprus’ economic model and maintaining investment levels as part of the government’s economic policy.

Cyprus birth rate way too low, committee hears

by
Cyprus birth rate way too low, committee hears

Cyprus has a low birth rate of 1.4 children per woman, which is below the replacement level of 2.1. In primary schools, 21% of children have two foreign parents, and in pre-schools, 25% of children have two foreign parents. Disy has proposed measures such as taxing families based on the number of members and providing support for families with three or more children.