Headed into the November election – and with a big fight over expiring tax cuts looming in 2025 – Democrats are pushing once again to raise taxes on the wealthiest Americans. Earlier this month, President Biden unveiled a budget plan that proposes to raise more than $4.5 trillion in new taxes over the next decade, […]
The United Kingdom has announced that it will scrap a 225-year-old rule that has allowed many of its richest residents to pay hardly any tax on their vast foreign earnings — a benefit enjoyed at one point by the prime minister’s wife. The axing of the non-domiciled tax regime represents an about-face for Britain’s Conservative government, […]
Brazil’s finance minister called Thursday for an international plan to ensure the world’s super-rich pay their taxes, urging G20 nations to adopt a shared stance on preventing billionaire tax-dodging by July. “It’s an undeniable fact that the billionaires of the world are still evading our tax systems through a series of strategies,” Finance Minister Fernando […]
Jeff Bezos’s recent move from Seattle to Miami is already paying off. When the billionaire sold $2 billion worth of Amazon shares last week, he saved around $140 million in taxes, thanks to Florida’s billionaire-friendly tax code. In that context, it’s no surprise Bezos, one of the richest men in the world, relocated from Washington […]