Word: taxed
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...State ranks 47th in the nation for tax burden imposed on its residents in 2002, according to a study by the Massachusetts Taxpayers Foundation, falling well below Texas, the president’s home state...
...fame in 1976 when he won a landmark lawsuit against actor Lee Marvin, whose lover, Michele Triola Marvin, had abandoned her nightclub singing career to be his companion. Mitchelson also represented such celebrities as Joan Collins and Sonny Bono but later served more than two years in prison for tax fraud...
...jobs, some European governments are anxious to limit offshoring. "People are scared," Nicolas Sarkozy, the French Finance Minister, told TIME (see President in Waiting?). He wants France to take the lead in discouraging offshoring where possible. As well as the call centers decree, still under discussion, Sarkozy is using tax subsidies to encourage firms to locate operations at home. One beneficiary is the media company Vivendi Universal, which recently won a tax break it estimates to be worth €3.8 billion over the next six or seven years. In exchange, it agreed to create two new call centers...
...believer in free markets. As Finance Minister, on Sept. 1, Sarkozy decided to sell off a €4.6-billion chunk of France Telecom, reducing the government's stake to under 50% for the first time; on Sept. 2 it was finished. Last month he moved to waive inheritance taxes on sums below €100,000 per estate, suspended a 3% corporate tax, and withstood stiff protests from unions to lay the groundwork for the partial privatization of Electricité de France. He also deplores France's 35-hour workweek, and says it must be changed to allow those who want...
...moves helped calm the jangled nerves of French workers, but raised fresh questions about Sarkozy's methods. The call for tax harmonization is an easy populist win, but higher corporate taxes will likely do nothing to protect French jobs and could end up making the E.U. a whole lot less competitive. "The question isn't halting the departure of lower-skilled jobs to cheaper markets, and Sarkozy should know that," says Marc Touati, chief economist of Natexis Banques Populaires. "The challenge is getting those same companies to reinvest gains made from outsourcing to create new jobs in research, hi-tech...