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New York Times (February 3)

2019/ 02/ 05 by jd in Global News

In recent decades, per capita GDP has doubled in the U.S., but “the bulk of the bounty has flowed to the very rich. The middle class has received relative crumbs. If middle-class pay had increased as fast as the economic growth, the average middle-class family would today earn about $15,000 a year more than it does, after taxes and benefits.”

 

The Hill (January 5)

2019/ 01/ 06 by jd in Global News

“Democrats promised to demand answers on his personal taxes, foreign business dealings, family charity, and other areas beyond the Russia investigation. This reflects a strategy that not only targets Trump but counts on him to be successful. They are relying on his description of himself as a “counterpuncher” to supply the grounds of his removal. Yes, Trump could counterpunch himself into getting impeached.

 

The Straits Times (February 20)

2018/ 02/ 21 by jd in Global News

“In spite of a substantial budget surplus,” Singapore is planning to raise taxes to meet “the challenges that lie ahead—in the form of financing healthcare in an ageing society, meeting infrastructure needs and ensuring security.” This approach starkly contrasts with the U.S., which has cut taxes despite running an enormous budget deficit, but fiscal sustainability has been “a mainstay of Singapore’s economic planning since independence.”

 

LA Times (January 11)

2018/ 01/ 13 by jd in Global News

California must “break the terrifying pattern of fire and flood….Water and fire can be a lethal combination,” but there is a way forward. “Taxing ourselves to create more open space in the foothills will not stop fires from erupting or rain from falling. It will give city and county planners a powerful tool by which to restrain growth, offer burned-out homeowners a safer option than rebuilding in fire zones, and give those living downhill in the path of the slides some much-needed breathing room.”

 

The Independent (April 28)

2017/ 05/ 01 by jd in Global News

“There can be no doubt that the UK’s economic situation is much more likely to deteriorate than improve in the next few years.” Higher taxes and/or lower benefits will be essential to strengthening the Treasury. “All of this adds to stagnant or declining living standards…. No wonder, then, that consumer confidence is likely to become weaker as the uncertainties crowd in.” But the biggest economic hurdle will be crimped investment. “Business does not want to invest in Britain unless they can be sure of a return on those funds after the UK loses its easy access to the single market.”

 

Wall Street Journal (May 26)

2016/ 05/ 28 by jd in Global News

“The European Commission wants to apply local-content quotas to streaming services such as Netflix and Amazon Prime’s video offering.” They might also impose other restrictions and taxes. This is the wrong principle. “Brussels is showing that its main concern whenever a new technology comes along will be how to hobble it with the same overregulation that afflicts old technologies.”

 

The Economist (April 30)

2016/ 05/ 02 by jd in Global News

Developed in the wake of the Great Depressions and World Wars, gross domestic product (GDP) was originally designed “to measure the economy’s capacity to produce. Since then, GDP has become a lodestar for policies to set taxes, fix unemployment and manage inflation.” The metric can be inaccurate and is often overstretched. More robust benchmarks must be developed and this will require “a revolution in national statistical agencies as bold as the one that created GDP in the first place”.

 

Washington Post (December 2)

2015/ 12/ 03 by jd in Global News

Pfizer’s planned tax inversion highlights a dilemma “of almost-impenetrable complexity and contentiousness: How to tax multinational companies?” To minimize their taxes, “large global firms…are becoming more aggressive.” At the same time, governments are “increasingly desperate to raise tax revenue to pay for aging societies and cover persistent budget deficits.”

 

New York Times (July 26)

2015/ 07/ 27 by jd in Global News

“While the eurozone may have temporarily avoided a Greek exit, it is hard to see how a deal that requires more spending cuts, higher taxes and only vague promises of debt relief can restore the crippled economy enough to keep Greece in the currency union.”

 

Wall Street Journal (January 26)

2015/ 01/ 27 by jd in Global News

While the Greeks are likely to remain in the eurozone, “the Syriza victory is nonetheless a rebuke to European leaders. Greeks believe, not unreasonably, that the conditions imposed by the troika have been disastrous.” Rather than “promoting pro-growth reforms,” the European Commission, European Central Bank and International Monetary Fund imposed measures focused on “draconian fiscal tightening.” The result was predictable: “falling wages and pensions and rising taxes, with no growth in return for the pain.”

 

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