Heterodox
WHO OWNS THE WEALTH IN TAX HAVENS?, an NBER working paper, points to following the money: I read the abstract and conclusion and perused the paper. It is relatively short and an easy read.The authors state that it is an introductory study in an area that has been shrouded in secrecy for reasons of "privacy." Heh heh.The initial results suggested pretty much what was suspected. Runaway offshore wealth at the top owned by the usual suspects and stashed in international "tax havens." No real...
Read More »Tariffs or sales tax and corporate tax reduction?
The announcement, and backtracking, on a 20% tax on Mexican imports caused a lot of confusion yesterday. I assumed like most that this was a proposal for a tariff, which would both ditch NAFTA rules and run afoul of the WTO rules. The wall and the tariff led to a cancellation of the Mexican president's trip, and a souring of the diplomatic relations. But in all fairness, it seems that this had little to do with Mexico.The Republican Tax Plan basically is to eliminate the corporate income...
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