Word: taxingly
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Countries aren't supposed to go bankrupt. Governments, after all, are funded by the tax revenues of entire economies, and, since they manage nations, they're not likely to evaporate, Enron-style, in a sudden financial flame out, or close up shop and flee their creditors. That's why lending money to states is considered the surest bet around. Reputation aside, however, politicians abuse their ability to borrow just like any spendthrift with too many credit cards, and often pile up more bills than they can handle. Argentina, Russia, Mexico and others have stiffed their bankers over the past...
...individual countries do not have control over inflation targeting, interest rates, and other monetary issues. Yet at the same time, each country is in control of how much its central government spends and the solvency of its financial system, so Germany independently controls its expenditures and tax receipts, and Greece does the same...
...Williams, 29, is shopping, with 2-year-old Eithan in her cart. Birch approaches her with a measure that would prevent Sacramento from tapping local transportation projects' and municipal governments' coffers to balance the state's chronically unbalanced budget. In quick succession he pitches measures to close a corporate tax loophole, fund the state's parks with an additional $18 charge to vehicle registration, strip the legislators of their paychecks if they are late passing a budget, tighten term limits from 14 years to 12 years, and increase the vote requirement to two-thirds for any state levies and charges...
...more new taxes without your approval," says Birch. "They'll need two-thirds to pass it." Birch admits he is not aware that California is the only state in the union where it is necessary to obtain a two-thirds majority in the legislature to pass a budget and initiate a new tax. (There is another proposed measure, which Birch is not peddling, that would change the legislative vote required to pass a state budget from two-thirds to a simple majority.) Williams, a regular voter, admits to confusion on many of the initiatives. "I never know what...
...ruling, the Supreme Court found that Thaksin had abused his power as Prime Minister by issuing executive decrees that gave his company, Shin Corporation, hefty tax breaks and tax holidays, among other actions, thereby decreasing the revenue it shared with the state for its telecommunications concessions. The court also concluded that Thaksin, in violation of Thai law, still controlled the company while serving as Prime Minister. He accomplished this, the court said, by using family members and others as nominees and transferring shares in an intricate web of deals through offshore companies in the British Virgin Islands and other tax...