Tag Archives: Tax

Korea’s Crypto Crackdown Talk Draws Backlash From Users and Politicians

More than 100,000 South Korea residents have signed petitions asking the government there to step back from any plans to close the country’s cryptocurrency exchanges. Earlier this week, the South Korean Justice Ministry announced that it was preparing legislation to close the country’s online exchanges amid a speculative boom in cryptocurrencies. That (more…)

Ronald Reagan tried deep corporate-tax cuts before. They didn’t work

Will sweeping corporate-tax cuts succeed in juicing the US economy and buoying middle-class wage growth? Most assuredly, says the Trump administration, with Congress poised to pass the Republican tax bill. History, however, suggests the opposite. The Trump team’s argument goes something like this: Cutting taxes on businesses will free up profits they will (more…)

The Satoshi Revolution – Chapter 3: Bad News: Government Takes Cryptocurrency Seriously (Part2)

Featured The Satoshi Revolution: A Revolution of Rising Expectations.Section 1 : The Trusted Third Party ProblemChapter 3: Trying to Undo Satoshiby Wendy McElroy Bad News: Government Takes Cryptocurrency Seriously (Chapter 3, Part 2) A dangerous legal cloud on the horizon has edged closer. On Tuesday, November 28, Senate Bill 1241 was heard (more…)

US Senate Republicans hastily passed their massive tax bill in the middle of the night

The US Senate narrowly passed its tax overhaul bill in the wee hours of this morning, after Republicans made a number of last-minute changes to satisfy the few remaining holdouts from their party. The nearly 500-page bill, passed 51 to 49, cuts the corporate tax rate from 35% to 20%. Though Republicans (more…)

Court Ruling Grants the IRS Personal Data of 14,000 Coinbase Users

News America’s Internal Revenue Service has gone fishing. Its target? Every single Coinbase user who ever placed a $20,000 trade. The huge dragnet exercise, spanning 2013-2015 and incorporating over 14,000 users, was awarded by a court yesterday, November 29. This is despite the best efforts of America’s largest bitcoin broker, (more…)

The insane logic of cutting taxes on the highest earners in the United States

The US is moving swiftly toward a massive tax cut for the highest earners. But the question is, why? Does it really make sense for Republicans to cut taxes on the highest earners, when they already pay historically low taxes and control a historically high share of national earnings? The Republican tax bills (more…)

President of Belarus Expected to Sign Decree to Legalize Cryptocurrencies

Regulation A draft decree on the Belarusian High-Tech Park which would legalize cryptocurrencies is awaiting the president of Belarus to sign into law. Among other provisions, if the law is passed, cryptocurrencies and initial coin offering (ICO) tokens will be approved for circulation. In addition, exchanges can trade rubles for (more…)

The UK wants to tax the money tech giants shift to tax havens

The UK’s move to start taxing digital companies that shift earnings to tax havens will generate an average of £200 million ($266 million) in revenue for the government every year. Published 1 hour ago  |  Photo by Reuters/Toby Melville £200 million The new tax, announced this week by chancellor Philip Hammond, targets (more…)

The Senate Republican tax bill does not look good for the working class at all

The US Senate’s new tax bill will mean lower incomes on average for the working class, especially after temporary breaks expire in 2025, according to a new analysis by the Center on Budget and Policy Priorities (CBPP): Scoring the senate bill is tricky because it not only cut taxes, but also eliminates (more…)