Government tax winners and losers

Government tax winners and losers

New Jersey State Capitol Building in Trenton Photo: Getty Images/iStockphoto If American states are laboratories of democracy, then too many have spent decades running the same tax-and-spend experiment expecting different results. The Tax Foundation last month released its 2023 State Business Tax Climate Index, which deserves wider coverage as evidence of which states are serious … Read more

Jared Polis, a Democrat for lower taxes

Jared Polis, a Democrat for lower taxes

Colorado Governor Jared Polis speaks at a press conference on November 1. Photo: David Zalubowski/Associated Press Denver On Tuesday, Colorado can re-elect its Democratic governor, keep the Legislature blue and cut the state’s income tax for the second time in three years through a citizen-led ballot initiative. At the annual Steamboat Institute Freedom Conference in … Read more

Colombia unsettles markets with higher taxes on oil, wealth to boost poverty-fighting spending

Colombia unsettles markets with higher taxes on oil, wealth to boost poverty-fighting spending

BOGOTÁ, Colombia—Colombia is set to raise taxes on wealthy individuals and extractive industries to pay for anti-poverty and rural development initiatives as the leftist government grapples with a decline in the peso that has outpaced that of most emerging market currencies . Investors’ concerns about the government’s progressive platform are exaggerated, Finance Minister José Antonio … Read more

The taxes that must not be mentioned

The taxes that must not be mentioned

West Allis, Wis. More than a decade after former Gov. Scott Walker signed legislative reforms to protect Wisconsin taxpayers from the increasingly expensive burdens of state employee unions, Democrats still can’t stop talking about him — even if they can’t bring themselves to mention his name . Mr. Walker left office nearly four years ago … Read more

The IRS and the Eighth Amendment

The IRS and the Eighth Amendment

By Travis Nix and Tyler Martinez Nov. 1, 2022 6:27 PM ET Photo: Daniel Acker/Bloomberg News Navigating the maze that is the US tax code can already feel like a punishment for ordinary taxpayers. But the real punishment comes when Americans face oppressive penalties from the Internal Revenue Service for innocent filing errors. That may … Read more

California’s Democratic Tax Rebellion – WSJ

California’s Democratic Tax Rebellion – WSJ

Photo: caroline brehman/Shutterstock The infighting among Democrats over a ballot measure in California to raise the top income tax rate would be comical if the potential outcome weren’t so tragic for the state. Here are progressives who support high taxes and subsidies for electric cars fighting other progressives who want to raise taxes to subsidize … Read more

The government’s climate financing pressures the private sector to live up to promises

The government’s climate financing pressures the private sector to live up to promises

The Biden administration begins doling out billions of dollars to budding climate industries such as battery metals. It puts pressure on banks and investors to step up with additional funds to deliver on their climate pledges. That cash comes from last year’s bipartisan infrastructure bill. The federal government granted about 20 producers of raw materials … Read more

What IRS inflation-adjusted tax brackets mean for you

What IRS inflation-adjusted tax brackets mean for you

Many Americans will see their tax burden decrease next year due to inflation adjustments made by the Internal Revenue Service. Some will benefit more than others. The IRS makes annual inflation adjustments to dozens of tax provisions, including the standard deduction and income tax, based on formulas set by federal law. Recent record inflation led … Read more

Rishi Sunak wins vote to become UK’s next Prime Minister after Liz Truss steps down

Rishi Sunak wins vote to become UK’s next Prime Minister after Liz Truss steps down

LONDON – Former chancellor Rishi Sunak, who warned that Liz Truss’ economic plans for Britain were a “fairy tale”, won the race to succeed her as prime minister on Monday, taking over the world’s sixth-largest economy at a time of deep financial and political turbulence . Mr. Sunak will formally enter Downing Street after his … Read more

Talk of a Fed rate cut provides breathing room for bonds and stocks

Talk of a Fed rate cut provides breathing room for bonds and stocks

Signs that the Federal Reserve may soon slow the pace of its rate hikes helped calm government yields late last week, giving investors hope that a more stable bond market could ease pressure on stocks. U.S. Treasury yields, which move in the opposite direction of bond prices, fell broadly on Friday after The Wall Street … Read more