taxes

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Ai Weiwei Loses Final Appeal in Tax Case

Dissident must pay $2.4M fine—or face jail

(Newser) - Ai Weiwei lost his second appeal against a $2.4 million tax evasion fine today, settling the case for good. Now, if he doesn't shell out the remaining $1.05 million, the dissident artist could face jail time—and he says he's not paying, Reuters reports. To pay...

Mitt Romney Thinks He&#39;s the Confidence Fairy
 Mitt Romney 
 Thinks He's the 
 Confidence Fairy 
paul krugman
Sep 24, 2012 11:32 AM CDT

Mitt Romney Thinks He's the Confidence Fairy

Believes his mere election will fix economy: Paul Krugman

(Newser) - Paul Krugman has long derided the " confidence fairy ": a notion that government cuts will somehow spark more consumers and investors to buy. We're seeing another version of that fairy now, after learning that Mitt Romney, at his infamous "47%" fundraiser, also claimed that his election would...

Strapped Europe's New Idea: Tax the Vatican

Church's long-held government breaks might be in danger

(Newser) - As Europe continues to seek a way out of its financial straits, some countries are eyeing the wealth of the Catholic Church. Italy's prime minister wants a tax on church properties. British city councils have cut funds for transportation to religious schools, while Ireland considers similar moves. And a...

Californians Stock Up on Amazon's Last Tax-Free Day

New sales taxes kick in tomorrow

(Newser) - It's a big day in California—the last one without sales tax on purchases from Amazon. So customers have been snapping up items like there's no tomorrow, the AP reports. With packages arriving at his office every day this week, "even the mailroom is laughing at me,...

French Slam Fleeing Richest Guy as 'Traitor'

'Ingrate' billionaire announces move to Belgium in wake of 75% tax

(Newser) - France's richest man has infuriated his countrymen by announcing a move to Belgium ahead of the Socialist government's planned 75% tax on the country's wealthiest citizens . Louis Vuitton CEO Bernauld Arnault denies he is seeking Belgian citizenship for tax reasons, but he has been denounced from all...

Probe Targets Finance Firms Over 'Sneaky' Strategy

Bain Capital gets a subpoena

(Newser) - Do private equity firms like Bain Capital use a sly strategy to avoid paying hundreds of millions in taxes? That's what New York Attorney General Eric Schneiderman aims to find out. In recent weeks he issued subpoenas to more than a dozen companies, including Bain, TPG Capital, and Sun...

Americans on Hard-working Rich: Admirable, Greedy
Americans on Hard-working Rich: Admirable, Greedy
new poll
Aug 27, 2012 5:15 PM CDT

Americans on Hard-working Rich: Admirable, Greedy

Oh, and more intelligent and less honest: Pew Research Center poll

(Newser) - Good news for the 1%: A little more than 40% of Americans think you are more intelligent and more hardworking than the average Joe, according to a new Pew Research Center poll . And if you worked hard to get your money, then 92% of middle-class Americans would describe you as...

Reid Aide: Source on Taxless Mitt Is Bain Investor

Jose Parra initially calls source Republican, then backtracks

(Newser) - An aide to Harry Reid made waves when he gave a KTLK radio host details on Wednesday on Reid's source for his claim that Mitt Romney went a decade without paying taxes—but Jose Parra has since backtracked a bit. Parra initially told Mario Solis-Marich , "This person is...

France's 75% Tax Could Push Rich Into Mass Exodus

Rich thinking of leaving if 75% tax rate is passed

(Newser) - France's new Socialist president wants to tax any income above €1 million ($1.24 million) per year at 75%—but if the plan is passed, France could see a mass exodus of its wealthiest residents. Rich residents are calling lawyers, asking if they should consider leaving the country...

Romney Tax Plan &#39;Mathematically Impossible&#39;
Romney Tax Plan 'Mathematically Impossible'
Ezra Klein
Aug 3, 2012 11:41 AM CDT

Romney Tax Plan 'Mathematically Impossible'

Non-partisan analysis says numbers don't add up

(Newser) - Mitt Romney has said that he has an economic plan and he's "not afraid to put it on the table." But the truth is that "the only thing he has put on table is dessert," writes Ezra Klein on Bloomberg . Romney says he'll cut...

Sorry, Olympic Medalists Don't Deserve Tax Break

Last thing our tax code needs is yet another loophole: Conor Friedersdorf

(Newser) - Marco Rubio claims he wants to simplify the tax code—so why in the world is he calling for Olympians not to be taxed on their winnings? Such a plan "is a perfect example of why the tax code is a complicated and burdensome mess," writes Conor Friedersdorf...

Medal Winners Must Face Tax Man

 Medal Winners 
 Must Face 
 Tax Man 
olympics
Aug 1, 2012 5:06 PM CDT

Medal Winners Must Face Tax Man

Marco Rubio wants to stop that immediately

(Newser) - US Olympians who medal in London get to share some of their glory with the IRS. The group Americans for Tax Reform (a Grover Norquist production) breaks it down this way:
  • Gold: Given the $25,000 cash award and the value of the medal itself ($675), recipients would owe the
...

Ai Weiwei to Thousands of Supporters: Please Sue Me

Dissident artist's unusual move comes on heels of tax-case loss

(Newser) - Ai Weiwei today lost his challenge against tax evasion charges and the $2.4 million fine China has slapped him with—but he once again wasn't allowed into court to make his case, he says. Police barred him from attending today's court date, calling him to explicitly tell...

Romney: Health Mandate Is a Tax

Contradicts Eric Fehrnstrom's comments

(Newser) - Days after a spokesman asserted that ObamaCare's individual mandate is not a tax in Mitt Romney's view, the candidate himself is saying the opposite—thus aligning with the rest of his party. Romney tells CBS News that while he agreed with the Supreme Court's dissent, "the...

Romney's 'Etch-a-Sketch' Rep: Mandate Is No Tax

Mitt has skirted the issue

(Newser) - While Republicans have been busily attacking ObamaCare as a tax hike following the Supreme Court ruling, Mitt Romney has stayed quiet; after all, to call it a tax hike would be to acknowledge he raised taxes in Massachusetts. Today, however, spokesman Eric Fehrnstrom— he of "Etch-a-Sketch" fame —stated...

Here's Who Pays for Health Care Reform

Universal coverage isn't free; CNN breaks down the costs

(Newser) - Assuming the Supreme Court doesn't strike it down, the Affordable Care Act will extend health care to millions of Americans—which isn't a cheap proposition. CNN breaks down who would wind up paying for the law, and how:
  • The wealthy: Starting next year there's a Medicare surtax
...

Hill: I Dodged Taxes While Guarding My Family

Long Tumblr post explains singer's withdrawal from pop culture

(Newser) - Lauryn Hill admits she paid no taxes for a few years, but says she was busy protecting herself and her family from popular culture, the New York Post reports. In a long Tumblr post , the singer said yesterday that she withdrew from society and cast aside pop culture's "...

If Obama Wins, Romney's Tax Bill Could Jump $5M

But a Romney win would save Obama $90K

(Newser) - A fun bit of election math from two non-profit research groups: What will the effect be on rich guys Mitt Romney and Barack Obama's tax bills if the other wins? If Romney wins and enacts his own proposal, he'll pay half what he would under Obama's tax...

IMF's Lagarde, Who Blasted Tax Evaders, Pays No Taxes

Her salary from an international organization is exempt

(Newser) - IMF chief Christine Lagarde probably wants this one back: She infuriated Greeks last week by asserting that a big part of the nation's financial crisis is "all these people in Greece who are trying to escape tax." It's time for this nation of tax-dodgers to pay...

Lawmakers to Saverin: Don&#39;t Come Back
Lawmakers to Saverin: Don't Come Back
May 17, 2012 10:06 AM CDT

Lawmakers to Saverin: Don't Come Back

'Ex-PATRIOT' Act to punish those who try to dodge taxes

(Newser) - Facebook co-founder Eduardo Saverin's decision to renounce his US citizenship—and, conveniently, a lot of the taxes from his expected IPO windfall—has struck a nerve on Capitol Hill. Chuck Schumer and Bob Casey will today announce a new bill called the "Ex-PATRIOT Act" (a typically dopey acronym...

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