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Britain's Missing Millionaires
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Britain's Tax Service reports the number of taxpayers reporting incomes of 1 million pounds a year declined by over 60% in fiscal 2010-2011 from the prior year. In 2010 the Labor government of Gordon Brown introduced a 50% income tax rate for this income group, up from 40%. The number of million dollar incomes filed declined to 6000 from 16000 in 2009-2010, and revenues declined from 13.4 billion pounds or 9% of total taxes from taxpayers to 6.5 billion pounds or 4.4% or about half. The Labor government had hoped for additional 2.5 billion pounds in revenue, showig unintended consequences and surprises in economic policies.
Contrasting approaches of France and Britain in tax policies and foreign investment
07/10/2012
Higher tax rates in France and Hollande's call for the French to see this as a form of patriotism by contributing to reduce the public debt. Britain's Cameron takes a different approach by reducing taxes. Cameron's remark about a red carpet for foreign investment is taken by Hollande as a form of British humor.
Grouped Articles
Wall Street Journal 05/29/2013
Wall Street Journal 06/26/2013
A Proud Nation Ponders How to Halt Its Slow Decline
New York Times 08/24/2013
Tax rates in Britain: François Miliband
Economist 02/04/2014
France Tries to Tempt In More Foreign Investment
New York Times 02/17/2014
In U.K. Visit, Hollande Urges Unity to Cut French Debt
Wall Street Journal 07/10/2012
Warren Buffett on a U.S. wealth tax
11/25/2012
Grouped Articles
Warren Buffett Has an Image Problem
Wall Street Journal 11/13/2015
New York Times 11/25/2012
New York Times 11/29/2012
Most Americans Face Lower Tax Burden Than in the 80s
New York Times 11/29/2012
Britain's Missing Millionaires
Wall Street Journal 11/29/2012
The New York Times 08/12/2016
Increasing U.S. taxes on the middle class
04/12/2009
The Wall Street Journal points to the facts that Warren Buffett does not cover in his plea for higher taxes on billionaires like himself who paid only 17% in taxes in 2010. Buffett made most of his income in capital gains and dividends that are taxed at 15%. That income was already taxed at 35% as corporate income and the 15% on top of that brings the total tax to about 45%. Buffett could write the IRS a check or support taking away the deduction for charitable contributions which is how Buffett contributes to his foundations. For most of the middle class couples making $250,000 for a few years of their life- and much of it going to high university tution payments for kids- the higher taxes make a difference compared to the Buffetts of the world. This is part of the debate on taxes in the U.S. at the time of the fiscal cliff negotiations in Dec. 2012.
Grouped Articles
Americaâs Sinking Middle Class
New York Times 09/18/2013
New York Times 04/12/2009
Wall Street Journal 08/17/2011
Wall Street Journal 08/17/2011
A Disciplined and Driven 'Connect-the-Dots' Investor
Wall Street Journal 09/14/2011
Wall Street Journal 09/14/2011
Google's U.S. federal tax liability of 18%. GE's low tax rate.
10/28/2010
The US tax rate for corporations at 35%, but the $1.5 billion federal tax liability of Google comes to an effective 18% tax rate. GE's consolidated tax rate of 11.6% from 2005 to 2009. This is also true of other large American companies, raising questions of fairness at a time of budget cuts in education, Medicaid and Medicare. Many U.S. companies, such as Apple, also use offshore tax havens to protect profits from taxes.
Grouped Articles
Apple Avoided Taxes on Overseas Billions, Senate Panel Finds
Wall Street Journal 05/21/2013
Appleâs Web of Tax Shelters Saved It Billions, Panel Finds
New York Times 05/20/2013
Apple CEO Tim Cook, Lawmakers Square Off Over Taxes
Wall Street Journal 05/22/2013
Wall Street Journal 05/22/2013
Ireland Defends Tax Laws to Critics at Home and Abroad
New York Times 05/21/2013
The Corrosive Effect of Apple’s Tax Avoidance
New York Times 05/23/2013
Senate Democrats and the Obama White House proposals for large tax increases in the 2011 deficit reduction talks
07/13/2011
The politics of the debt ceiling talks and how it involves both Republicans and Democrats.
Grouped Articles
Wall Street Journal 07/13/2011
Why we need a third party - The Washington Post
Washington Post 09/26/2011
Budget Discord Simmers Among Democrats
Wall Street Journal 10/21/2013
Wall Street Journal 07/15/2011
Post-ABC poll: GOP too dug in on debt talks; public fears default consequences - The Washington Post
Washington Post 07/20/2011
Threat of Mutiny in Both Parties Helped Scuttle Talks
Wall Street Journal 07/23/2011
Britain's tax on the wealthy
11/29/2012
Increasing taxes on millionaires from 40% to 50% results in lower revenues. Cameron wants to change this to 45%.
Grouped Articles
Tax rates in Britain: François Miliband
Economist 02/04/2014
U.K. Plans New Taxes on Banks, Multinationals
Wall Street Journal 12/04/2014
In U.K. Election, It’s Jobs Boom vs. Stagnant Wages
Wall Street Journal 05/07/2015
Britain's Missing Millionaires
Wall Street Journal 11/29/2012
Fairness and equity issues in the U.S. tax system
04/12/2009
Grouped Articles
New York Times 04/12/2009
California Property Taxes Can Vary Wildly in Silicon Valley
New York Times 02/23/2012
The Case for Raising Top Tax Rates
New York Times 03/27/2012
To Reduce Inequality, Tax Wealth, Not Income
New York Times 11/18/2012
New York Times 11/29/2012
Most Americans Face Lower Tax Burden Than in the 80s
New York Times 11/29/2012
The Payroll Tax in the U.S. and surtax on incomes over $1 million as a political issue in 2012
12/01/2011
Grouped Articles
Democrats See Advantage in Payroll Tax Debate
New York Times 12/01/2011
Donât Tax the Rich. Tax Inequality Itself.
New York Times 12/18/2011
The Case for Raising Top Tax Rates
New York Times 03/27/2012
To Reduce Inequality, Tax Wealth, Not Income
New York Times 11/18/2012
New York Times 11/29/2012
Most Americans Face Lower Tax Burden Than in the 80s
New York Times 11/29/2012
The U.S. political system, politics and the U.S. Deficit in 2010-2013
12/30/2010
Republican positions that do not require offsets for tax reduction, and Democratic positions that go along with the status quo. The politics behind the debt ceiling talks as President Obama seeks re-election and advantage going into the election, and the conservative Republicans oppose any tax increases.
Grouped Articles
Budget Shell Games Are Contrary to Law
Wall Street Journal 07/14/2011
GOP Hopefuls Betting Voters Want Deep Cuts
Wall Street Journal 07/18/2011
Why we need a third party - The Washington Post
Washington Post 09/26/2011
Bob Woodward: The inside story of how Obama and Boehner negotiate - The Washington Post
Washington Post 09/07/2013
Wall Street Journal 10/10/2013
Why Democrats Are Dug in on Shutdown Impasse
Wall Street Journal 10/14/2013
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