Connect with us

World

REVEALED: The U.S billionaires avoiding their taxes

Published

on

From Jeff Bezos, Elon Musk and Warren Buffett, new details have emerged about how little tax US billionaires actually pay.

News website ProPublica has reportedly viewed the tax returns of America’s wealthiest individuals… with the White House saying the leak is “illegal” and the FBI is now investigating.

The website makes allegations that Bezos paid no tax in 2007 and 2011, whilst Musk paid nothing in 2018.

A White House spokeswoman called the leak “illegal”, and the FBI and tax authorities are investigating.

It’s also believed that the top 25 richest Americans each pay less tax than the average US worker.

ProRepublica says it will continue to analyse a “vast trove of Internal Revenue Service data” on the taxes of the billionaires, and promises to release further details later in the week.

The news site goes onto add “using perfectly legal tax strategies, many of the uber-rich are able to shrink their federal tax bills to nothing or close to it.”

Biden’s plan to raise tax for tech giants

President Joe Biden has vowed to increase tax on the richest Americans.

He wants to raise the top rate of tax, double the tax on what high earners make from investments, and change inheritance tax.

25 richest Americans collectively jumped by $401bn from 2014 to 2018, but they paid $13.6bn in income tax over those years, according to ProPublica.

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

World

How has the hospitality industry changed since the onset of the coronavirus pandemic?

Published

on

Many global issues continue to have an impact on multiple sectors of the economy—including the hospitality industry.

Since the onset of the coronavirus pandemic, how has the hospitality industry changed ?

 
Numerous international challenges including inflation, worker shortages, the Russia-Ukraine war and rising tensions between the United States and China—continue to have an impact on many sectors of the economy—including the hospitality industry.

According to the 2023 State of the Restaurant Industry report, the foodservice sector is forecast to reach $997-billion in sales in 2023—driven in part by higher menu prices.

So, how has the hospitality industry changed since the onset of the coronavirus pandemic?

Priya Krishna, a food reporter with The New York Times joins us to discuss. #PriyaKrishna #thenewyorktimes #food #hospitality #economy #veronicadudo #business

Continue Reading

World

Why are restaurants adding service charges amid rising prices?

Published

on

American diners across the nation may be bewildered by an unfamiliar charge at the bottom of the check—a“service charge,”tacked on with little explanation.

So, why are restaurants adding service charges amid rising prices?

 
You’ve probably noticed it’s a lot more expensive to go out to eat.

The post-covid world is still working try and get back to pre-pandemic economic output.

And the hospitality industry is no different.

An increasing number of restaurants have added service charges of up to 22%—or more—in recent years in to keep up with rising costs.

So, are these changes in the hospitality industry a byproduct of the coronavirus pandemic?

Priya Krishna, a food reporter with The New York Times joined us to discuss. #hospitality #restaurants #PriyaKrishna #veronicadudo #inflation #pandemic #economy #thenewyorktimes

Continue Reading

World

China and the U.S. now caught up in a deadly game

Published

on

As the U.S. and Chinese defence bosses spoke in Beijing, many in the room realised one thing – the two are far from ready to talk.

 
A thinly veiled criticism of the United States was delivered by Chinese Defence Minister General Li Shangfu.

In his first public statement to an international audience since becoming defence minister in March, Li highlighted China’s Global Security Initiative, a set of foreign policy principles and directions in line with Beijing’s style of diplomacy, which was announced in April last year by Chinese President Xi Jinping.

“It practises exceptionalism and double standards and only serves the interests and follows the rules of a small number of countries,” he told Asia’s biggest defence conference.

Among them are opposition to unilateral sanctions and economic development as a means of stemming instability and conflict.

“Its so-called rules-based international order never tells you what the rules are, and who made these rules,” Li said in a speech to the Shangri-La Dialogue in Singapore, without naming the US or its partners.

#featured #china #li shangfu #south china sea #taiwan

Continue Reading
Live Watch Ticker News Live
Advertisement

Trending Now

Copyright © 2023 The Ticker Company PTY LTD