Showing archive for: “Tax”
Uncorporate Kodak!
There are reports in the press that corporations are sitting on a huge cash pile — $1.2 trillion. Apple has over 70 billion. Today’s WSJ discusses Kodak (remember film?) which is burning through money it’s collected in patent litigation in a so far futile effort to compete in selling computer printers. Since the government can’t ... Uncorporate Kodak!
S&P Credit Rating Drop
There are few things in this world I enjoy as much as an opportunity to say “I told you so.” Well, I told you so. In May of 2010 I published an op-ed where I said: If Washington properly accounted for its debt and deficit, we might be in the same situation. A threat to the US ... S&P Credit Rating Drop
Efficiency, Competition, Capital Formation, Investor Protection, Apple Pie and Puppies
One of the things that I hope to spend more time doing now that I have returned to the blogosphere is open-source article writing. By that I mean blogging about an article idea and updating it as I progress. Some say it’s a bad plan…people might steal your ideas, or maybe you expose yourself to ... Efficiency, Competition, Capital Formation, Investor Protection, Apple Pie and Puppies
LLCs vs. corporations: explaining state variations in formations
The literature on the state “market” for LLC law is growing. Bruce Kobayashi and I published what I would modestly call the leading study (K & R) on jurisdictional competition for LLCs. There is also an unpublished study to which our article is in part a response by Dammann & Schündeln (D & S). Now there’s ... LLCs vs. corporations: explaining state variations in formations
Ralph Nader, investor
So how is Ralph Nader, the former scourge of GM and all things corporate, doing with his retirement fund? The WSJ takes a peak: In 2000, his Cisco stake was valued at $1 million, about one-third of his $3 million portfolio. As Cisco’s share price swooned in the years that followed, it has represented a ... Ralph Nader, investor
Cheap Donuts, Expensive Broccoli and Soda Taxes
David Leonhardt’s NY Times column laments the fact that the price of healthful foods has increased relative to unhealthful foods. He presents this useful chart: The fact that relative prices have changed is often invoked in support of various “fat taxes,” e.g. consider the recent salvo of proposed soda taxes (For example, here and here). ... Cheap Donuts, Expensive Broccoli and Soda Taxes
Moving the Merc?
I’ve been writing (here and here) about Illinois’s troubles, in a mobile, multi-jurisdictional world, raising taxes on corporations to pay for its past profligacy. And now a symbol of Chicago might be in play: The line of businesses looking for tax relief in Illinois keeps growing, with the latest plea coming from the owner of ... Moving the Merc?
Taxing, spending and jurisdictional competition
Back in January Illinois raised corporate taxes to, as I said then, “try to bail Illinois out of the results of their fiscal profligacy.” But I added that raising taxes wouldn’t necessarily work “because of jurisdictional competition– there are many other places the would-be taxpayers can go.” And that “the tax ‘solution’ will drive out ... Taxing, spending and jurisdictional competition
Taxing big uncorporations
A few days ago Paul Caron summarized moves toward corporate taxation of pass-through entities with more than $50 million gross receipts, adding links to prior posts on this subject. Today’s WSJ echoes this story, quoting Sen. Max Baucus, Senate Finance Chair: “We’re talking about business income here. Why not have the large pass-throughs … pay ... Taxing big uncorporations
Closing the US securities markets
The WSJ reports that the SEC is considering raising the 500-shareholder limit on the number of holders of a class of securities a company can have before having to register that security with the Commission under Section 12(g) of the 1934 Act. The SEC reportedly is also considering relaxing the “general solicitation” restriction on private ... Closing the US securities markets
Get Ready for that Twinkie Tax.
Arizona’s governor has proposed charging $50 to certain Medicaid beneficiaries who smoke or are obese. As today’s Wall Street Journal reports, the point of the surcharge is to internalize the externalities smokers and snackers impose on their fellow citizens, who bear much of the cost of their unhealthful choices: “If you want to smoke, go for it,” said Monica Coury, spokeswoman for Arizona’s Medicaid ... Get Ready for that Twinkie Tax.
Fiscal discipline in Illinois
Last January I commented on the Illinois tax increase of personal income tax rates from 3% to 5% and corporate taxes from 4.8% to 7%: Detroit would seem to be a good example to keep in mind when thinking about Peoria without Caterpillar. Remember that any company considering moving to or staying in Illinois not ... Fiscal discipline in Illinois
