My spouse and I were lucky as parents. In 2005, I brought our infant daughter to work right after maternity leave, and she was my officemate until she could crawl into the hallway. A colleague did the same with her son the following year. Our employer, a small company with fewer than 25 employees, was … Read more
In selecting Governor Tim Walz (D-Minn.) to be her vice presidential nominee this November, Kamala Harris chose a running mate whose record on tax policy is more in line with her own than that of the other reported finalist, Governor Josh Shapiro (D-Penn.). Governor Walz, like Vice President Harris, has a well documented history of … Read more
Continuing months of progressive opposition to the bipartisan Tax Relief for American Families and Workers Act, U.S. Sen. Bernie Sanders on Thursday voted against advancing the bill and highlighted how it would give tax breaks to major corporations.The bill passed the House 357-70 in January, shortly after it was negotiated by Senate Finance Committee Chair … Read more
U.S. Vice President Kamala Harris speaks during a campaign event at Westover High School in Fayetteville, North Carolina, on July 18, 2024.Allison Joyce | Afp | Getty ImagesWith President Joe Biden officially out of the election, experts are watching for tax policy from Vice President Kamala Harris, the frontrunner for the Democratic nomination.While Harris has … Read more
Economy Montana’s housing crisis is a warning for older homeowners across the country Eliza Relman 2024-07-10T09:56:03Z Share icon An curved arrow pointing right. Share Facebook Icon The letter F. Facebook Email icon An envelope. It indicates the ability to send an email. Email Twitter icon A stylized bird with an open mouth, tweeting. Twitter LinkedIn … Read more
Massachusetts is in danger of losing nearly billion in annual revenue over the coming years due to high state taxes triggering an exodus of wealthy residents. Migration out of Massachusetts has seen a significant increase since 2013, with more than 39,000 people leaving the state. If the trend continues, more than 96,000 residents making a cumulative .2 billion in adjusted gross income will leave the state by 2030, costing Massachusetts about 1 million in income tax revenue each year. Residents cited high tax burden, expensive housing, and healthcare costs as reasons for relocating. Popular destinations for residents fleeing Massachusetts include Florida, New Hampshire, Maine, North Carolina, and Texas. Census data suggests a broader trend of residents moving from higher-tax states to states with lower taxes.
Hungry people in the U.S. faced a .1 billion shortfall in funds for basic food needs in 2022, with nearly half of them not qualifying for aid. This was the highest shortfall in 20 years due to higher food prices. Hunger rose in 2022 amid high food price inflation and the end of federal financial support and expanded food aid programs during the COVID-19 pandemic. Nearly half of food-insecure people may not qualify for the Supplemental Nutrition Assistance Program. Congress has expanded funding for a key nutrition program serving mothers and young children to address the issue.
South Africans will vote in a national election on May 29 with uncertainty about the outcome, as polls suggest the African National Congress may lose its majority after 30 years in power. Key issues include high unemployment rates, sluggish economic growth, power cuts, corruption scandals, high rates of violent crime, and rising anti-immigrant sentiment. The government is working to address these issues, with a focus on job creation, economic growth, and tightening immigration laws.
– Economist Gautam Sen believes that the notion of an inheritance tax is unrealistic and labeled Congress leader Rahul Gandhi’s suggestion of a “wealth survey” as impractical.
– Sen expressed concerns that conducting surveys of all households and businesses for wealth redistribution would result in economic turmoil.
– Around 2.4 per cent of people pay taxes in India, of which not more than 1.2 million have personal assets.
– Sen mentioned that the very rich individuals in India may migrate to Dubai to avoid taxes if wealth redistribution measures are implemented.
– Sweden removed its inheritance tax and saw an increase in wealth, economic growth, and tax collection.
– Sen believes that the current combination of wealth creation and redistribution in India is working well.
– Congress leader Sam Pitroda had advocated for exploring inheritance laws in India, drawing parallels with the United States where there is no inheritance tax, but rather estate duty and gift tax paid by a small percentage of deceased individuals.
The IRS released guidance on proposed regulations for transferring tax return information to the US Census Bureau and disclosed additional tax return information to the US Secretary of Commerce.