Word: taxed
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Dates: during 2000-2009
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...leaders of the European Union's largest economies are dead serious about cleaning up global finance markets. On Sunday, officials from eight E.U. countries wound up an economic summit in Berlin calling for tougher regulations on international financial markets-including secretive hedge funds and the tax havens they often rely on to do business. The question is: will the U.S., the biggest financial player in the world, ever agree to the binding international regulation the Europeans seek...
...proponents of Sunday sales argue that state budgets are under plenty of pressure too and that by allowing people to buy beer, wine or liquor on Sunday at grocery or package stores, states could reap millions of dollars in tax revenue. Besides, as President Roosevelt learned in the 1930s when he successfully repealed Prohibition, drinks have a way of keeping hopes high when things look bleak. In Johnathan Alter's The Defining Moment: FDR's Hundred Days and the Triumph of Hope, the President recognized that legally-procured cocktails were the way to keep spirits high when Americans were trying...
...when there has been an economic downturn," Laband says. "States realize that consumers will migrate to a place where they can buy what they want. And whatever their reasons are for not wanting to sell on Sunday, these states realize they're paying a price for it in foregone tax revenues. So once the economy goes bad, then the cost of their policies are apparent to them...
...everyone is devastated by the budget's fine print. It includes tax breaks for large corporations, film companies that keep production in-state, buyers of new homes and small businesses that hire new employees. "The state was about to go over a cliff," says Allan Zaremberg, president and chief executive officer of the California Chamber of Commerce. "No tax in a recession is a good tax. But I think the legislature and the governor went out of way to spread taxes by as many Californians and businesses as possible so the impact would not hurt any one industry...
Despite the handshakes and smiles yesterday in Sacramento, the budget crisis is far from over - and the state could be in for a serious citizen backlash over the next few months. In California, tax revenue enhancements must be voted on in a special election. On May 19, voters will determine the fate of $5.8 billion in measures, which also include a permanent state spending cap (which would extend the tax hikes from two to four years) and whether or not to divert money from children's services, mental health programs and the lottery into state coffers...