Word: taxed
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...feature of the Swiss banking scene was deliberately left off the blueprint: Switzerland's increasingly burdensome taxes. Under pressure from the European Union, which was worried that many of its residents were stashing money in Swiss accounts merely to evade taxes, Switzerland last year began phasing in a 15% withholding tax on personal interest income for E.U. citizens (the rate rises to 35% in 2011). Singapore, meanwhile, was lowering taxes. Nonresidents who park money in Singapore banks pay no taxes if that money is earned outside Singapore, and investment gains earned in the city-state (from stocks, for example...
...That doesn't mean that legions of rich Europeans are suddenly closing their Swiss accounts and moving their money to Singapore. After Switzerland implemented the withholding tax, "very little happened in terms of asset migration," says Sebastian Dovey, managing partner of Scorpio Partnership, a London-based consultancy to the wealth-management industry. "The big gain for Singapore is not to take assets away from Europe," he says. "The big gain is to attract assets from within its own region. And [Singapore] is doing that tremendously." For now, though, it still has a long way to go before it can claim...
...some things--the Supreme Court, tax cuts--I give him an A-plus. On foreign policy, I give him an incomplete. If it doesn't improve, it's going to be failure. I don't believe interventionism is the way to deal with rising Islamic revolution. We're seen in the Middle East as an imperial power propping up corrupt regimes and giving Israel the wherewithal to do what they did to Lebanon. The President is widely reviled...
...simply. Instead, they've appointed a committee that met in Paris in June and July and drafted a proposed solution that defines a planet by shape, center of orbital gravity and more. Committees and clarity don't go together, and the proposal is just what critics feared: science as tax code, with the cosmos codified in such elaborate ways that, never mind nine planets, we could end up with dozens...
...bleached landscape of American politics, this year's Republican U.S. Senate primary in Rhode Island is grand opera in Technicolor. Laffey is a conservative, supported by a virulently antitax group, the Club for Growth. The incumbent, Lincoln Chafee, is a breathtakingly courageous moderate: he opposed the Bush tax cuts and was the only Republican to vote against the war in Iraq. But there is a lot more going on here than dueling political philosophies. There is a truckload of New England sociology...