Democratic presidential candidates Joe Biden and Bernie Sanders have overestimated the amount of revenue their tax proposals would generate by hundreds of billions, or even trillions, of dollars, according to a new study. The former vice president and the senator from Vermont have proposed vastly different tax plans: Biden is calling for rate increases on
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American Express reported fourth-quarter results that beat analyst expectations, sending the stock higher as card fee revenues grew more than expected. The shares rose 2% in premarket trading Friday. Here’s how the payments company’s results compared to what Wall Street analysts expected: Earnings: $2.03 per share vs $2.01 per share forecast by Refinitiv Revenue: $11.365
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Richard Sharrocks A case before the Supreme Court has the power dramatically reshape how the U.S. government polices financial fraud and other misdeeds against consumers — which many experts fear would weaken existing protections and expose the public to more harm. The case, which concerns the Consumer Financial Protection Bureau, could ultimately lead to the
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The past week has been nearly nonstop with news on various fronts of a dispute over taxation of digital businesses. The main characters have been the U.S., France, and the UK, although the EU and the OECD have also played roles. Though the dust is still settling, it is worth trying to tie the various
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Seth Klarman Getty Images Billionaire hedge fund manager Seth Klarman defended value investing, saying in a letter to clients that several factors, including the proliferation of passive investing, have created market mispricings that will soon lead to a payoff for the long underperforming strategy. Klarman, the CEO of the Baupost Group, said his fund posted
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Perfect mess; package deal; bad medicine; and other highlights of recent tax cases. Gulfport, Mississippi: Former preparer Alvin Mays has pleaded guilty to aiding and assisting in the preparation of false returns. Mays owned and operated City Tax Service and from 2012 through 2017 prepared and trained employees to prepare false returns. To fraudulently inflate
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Since the 2008 financial crisis, financial transaction taxes (FTTs) have been debated as a potential instrument to address financial market instabilities and as a source for tax revenue. Today’s map shows which European OECD countries impose a type of FTT. FTTs are levied on the trade in financial instruments such as stocks, bonds, or derivatives.
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David Solomon, Goldman Sachs Adam Galica | CNBC Goldman Sachs CEO David Solomon told CNBC on Thursday that starting this year, his investment bank wouldn’t help companies go public without at least one “diverse” board member.   “Starting on July 1st in the US and Europe, we’re not going to take a company public unless there’s
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Key Findings A broad-based financial transaction tax (FTT)­ in the United States would be a substantial revenue source. For example, the Inclusive Prosperity Act proposed by Sen. Bernie Sanders (I-VT), with an FTT levied at 0.5 percent on stocks, 0.1 percent on bonds, and .005 percent on derivatives, has been estimated to raise between approximately
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If your business struggles, you might see it as a sign you should pivot. Jack Dorsey wisely pivoted his podcast platform Odeo. Dorsey’s startup became Twitter — after suffocating in the shadow of iTunes as just another podcast platform. But pivots don’t provide a surefire route to success. Before you tap the brakes and change
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Former Vice President Joe Biden (L) greets Sen. Bernie Sanders (I-VT) before the Democratic presidential primary debate at Drake University on January 14, 2020 in Des Moines, Iowa. Scott Olson | Getty Images Top Democratic presidential candidates all want to boost Social Security benefits. But two of the candidates — Sen. Bernie Sanders (I-Vt.) and
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Grant Thornton LLP has introduced its new iNDIRECT.360 system to help companies manage their indirect tax processes and data needs. The system handles sales tax, property tax, business licenses, exemption certificate management, consulting and automation of the indirect tax function, using workflow technology. iNDIRECT.360 employs proprietary Grant Thornton technology to import and process raw client
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