Word: taxed
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...true with the US now, the time when the government needs money the most is when commerce is contracted and the tax base is under pressure. The conglomerates and the moguls are easy targets, until they, too, are destroyed by the worst of the economy. Suddenly, there is nothing left to tax...
Along with Chocolate and Cheese, Switzerland is synonymous with secrecy: it's long been known as a place to put your money if you don't like taxes or you commit crimes for a living. Not an entirely fair characterization, to be sure, but it's a safe bet that the decision by Swiss bank UBS to turn over the names of some accused tax evaders has a few of the world's richest criminals a bit nervous. (See 25 people to blame for the financial crisis...
...from foreign governments, Switzerland has changed some of its ways. It added laws to combat money-laundering and cracked down on numbered accounts in the 1990s. But that doesn't mean the banks open their vaults for just anyone. When the U.S., which loses an estimated $100 billion in tax revenues every year on assets stashed overseas, demanded that UBS release information on an additional 52,000 accounts, the bank refused, saying the move would violate Swiss law. Of course, with some 27,000 UBS employees working in U.S. offices, Switzerland might not be the jurisdiction it should worry about...
...Party's highest-profile governors say they may reject a small percentage of the Federal Government's $787 billion stimulus funding in the name of fiscal conservatism. They say taking federal funds to expand unemployment insurance, for example, would create a future burden on their states and lead to tax increases...
...their neighbors, after all - lawmakers passed the Home Rule Act of 1973, allowing voters to directly elect the mayor and city council. But Congress still acts as the District's slightly distant parent, wielding final budget control and reviewing all local laws. It nixed efforts to impose a "commuter tax" on Maryland and Virginia residents, for example, and banned buildings higher than the Capitol dome...