Wednesday, January 17, 2024

Most States Have Tax Codes That Are Rigged To Benefit The Wealthy: Report

 Make fun of Harvard all you want but the catastrophe at Boeing is so much more serious and the arsonists in charge of that company still haven’t been fired.

Australian breach victim's two-year road to recover from identity theft

A timely reminder’: SDT issues joint highest-ever fine in anti-money laundering crackdown

Scale Facilitation’s CEO, David Collard, is alleged to have issued a grossly inflated invoice to boost the VAT refund his company could claim in the UK, adding to his long list of financial ‘innovations’.

Scrambling to find money to pay late wages and make overdue payments to buy failed battery start-up Britishvolt, his company issued an invoice with inflated expenses to a UK subsidiary which boosted the VAT (Value added Tax) refund the group could claim from HM Revenue & Customs, Open Politics has revealed

David Collard’s financial innovations – VAT’s the Scam?


Article Recommendation on Sentencing in Tax Cases-Amendment to Guidelines 

I recommend the following post: Evan Davis, Major Sentencing Guideline Changes for Most Tax Offenders, With More on the Way: ABA Sentencing ...

The Boeing 737 MAX and The Crash Of Capitalism Commentary

Alaska Airlines offers passengers $1,500 after mid-air door plug blowout Daily News

From the Archives: Gregory Travis and Marshall Auerback: Anatomy of a Disaster – Why Boeing Should Never Make Another Airplane, AgainNaked Capitalism

Five richest men doubled fortunes after 2020, Oxfam says as Davos opens

Most States Have Tax Codes That Are Rigged To Benefit The Wealthy: Report

Huffington Post: “In many states, the tax code directly widens income inequality — and it’s a deliberate policy choice driven by low or nonexistent income taxes. A sweeping new analysis of taxes across the country reveals that in four out of every five states, the top 1% are paying a lower tax rate than their middle-class and low-income neighbors. Instead of taxing wealthy residents an equal share, the vast majority of states are filling their budget gaps with taxes that disproportionately burden lower-income families, according to a report by the nonpartisan Institute on Taxation and Economic Policy, titled 

“Who Pays?” “When we look at how states are taxing their residents, it’s clear they’re falling very far short of what most people consider to be a fair tax code,” said Carl Davis, ITEP’s research director. In the top 10 states with the most regressive systems — Florida, Washington, Tennessee, Pennsylvania, Nevada, South Dakota, Texas, Illinois, Arkansas and Louisiana — the middle 60% of families pay an average of twice as much of their income in taxes as the top 1%, and the poorest 20% of residents pay an average of three times as much as the very wealthiest. Thirty-four states tax low-income households at a higher rate than every other group…”

Research on Crime and Public Safety in 2023