Word: taxed
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Dates: during 2000-2009
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...Amid the recessionary doom and gloom, the world has channeled Adam Smith, dusted off John Maynard Keynes and revisited Eugene Fama. In recent days, it's been James Tobin's turn. Close to four decades since the Yale economist proposed a levy on foreign-exchange transactions - or a "Tobin tax," as the suggestion became known - the idea is enjoying a new lease of life. At a meeting of G-20 finance ministers last weekend, British Prime Minister Gordon Brown suggested the group of leading countries consider the tax to establish "a better economic and social contract between financial institutions...
...Most countries in Asia have signed on to the World Health Organization's Framework Convention on Tobacco Control (FCTC), which calls for price and tax measures to discourage demand for tobacco, along with measures to regulate or restrict tobacco advertising, sales to minors, packaging and product content. "The tobacco industry says it supports [the FCTC], but in fact they are working to undermine the framework in countries across the region," Bangorn says. The conference agenda, she says, includes presentations like "Operating in a World of Bans" and a regulatory workshop that "invites participants to wipe the regulatory slate clean...
...have a deep-seated distrust of the government. Prostitutes complain that they are routinely shaken down by police, who demand $50 payoffs and threaten to lock them up overnight if they don't pay. Several prostitutes were suspicious that the new circuit was part of a government plan to tax them. And none of the prostitutes interviewed said they had to pay hustlers on the streets. "I don't work for pimps. I don't work for madams. And I am not going to work for the government," says Jennifer, a heavily made-up 24-year-old pacing in place...
...forge the world's biggest confectionary business, the low-ball offer - worth $12 per Cadbury share, or 4% less than its earlier proposal thanks to an interim fall in Kraft's shares - was never likely to be welcomed. As a multiple of Cadbury's profit before deductions for tax and other charges, the deal is worth roughly a third less than the average for takeovers in the global food business since 2000, according to investment-research firm Sanford C. Bernstein. Granted, the world is in an economic slump and there's no rival bid on the table, but Kraft...
...markets. Switzerland's two biggest banks needed multibillion-dollar bailouts - UBS with public money, Credit Suisse with private - and, like bankers everywhere, they face the rage of ordinary people. In August, a civil action by the U.S. Internal Revenue Service forced UBS to reveal the names of thousands of tax-dodging Americans with bulging Swiss accounts. (See pictures of Roger Federer...