Tax avoidance by multinationals such as Amazon continues to get more expensive. “Brussels will hit Amazon today with a bill for Luxembourg back taxes worth several hundred million euros,” reports the Financial Times. More reason to pass U.S. corporate tax reform and bring that money home. Brussels will hit Amazon on Wednesday with a bill for Luxembourg back taxes worth several hundred million euros in the latest fallout from the EU crackdown on tax avoidance by big multinationals. The European Commission’s move, confirmed by several people familiar with the case, comes on the heels of … [Read more...]
If Stephen Paddock Had Been Part of Al-Qaeda, He Would Have Been Stopped
Wall Street Journal columnist Holman W. Jenkins asks if wider use of technological surveillance, of the kind that is used against terrorists like al-Qaeda, might have done a better job in preventing the massacre allegedly perpetrated by Stephen Paddock. He writes: This column has always been partial to Dean Martin’s theory of gun control. The singer was arrested with an illegal weapon in his car. When asked by a reporter if everybody should carry a gun, he joked, “No, just me.” Unfortunately, this is not a realistic basis for legislating for 330 million people. Let’s stop covering our eyes … [Read more...]
What’s Supporting Real Estate Prices?
Access to money is one of the key reasons for success in commercial real estate, especially here in the U.S. where REITs are everywhere. But with dividend yields near historic lows it begs the question: What is supporting these lofty prices? Even skyscrapers don’t grow forever. Now in Malaysia, where REITs seemed ready for prime time, things aren't looking so good. Shefali Anand writes: Until recently, Malaysia seemed to be on track toward building a successful market for real-estate investment trusts. Its market grew to a capitalization of around $10 billion, and included Kuala Lumpur’s … [Read more...]
Is America’s Moment of Unity Fleeting?
Despite a brief moment of national unity following the terrible massacre in Las Vegas, Pat Buchanan questions whether or not the country can hold onto that for very long. Pat says that with a focus on identity issues like "race, religion, ethnicity, culture, history and politics," America is being pulled apart. He writes: We Americans may celebrate our multiracial, multiethnic, multilingual, multicultural diversity as our greatest attribute. But the acrimony and the divisions among us seem greater than ever before in our lifetimes. Blacks, Hispanics, feminists, Native Americans, LGBT—all … [Read more...]
Who Wins from a Corporate Tax Cut?
Writing for the Cato Institute where he holds the R. Evan Scharf Chair for the Public Understanding of Economics, Ryan Bourne explains that there will be many winners if corporate tax rates are cut. Shareholders, employees and consumers will share the spoils, but the proportion of the benefit each group receives is harder to predict. He writes: Cutting the corporate income-tax rate seems a rare area of consensus for Republican lawmakers considering tax reform, which is good news for working Americans. Despite opponents’ attempts to suggest otherwise, there is reason to be confident that … [Read more...]
A Big Win for Blue State Gun Owners?
For years gun owners in blue states have been stymied by restrictions on concealed carry that force them to prove a special "need" before they are allowed to exercise their rights. Now, the results of a court case in Washington D.C. may be about to upend that. The California Rifle & Pistol Association writes: On Thursday, September 28, the D.C. Circuit Court of Appeals officially denied Washington D.C.’s request to rehear the cases of Grace v. District of Columbia and Wrenn v. District of Columbia. These cases challenge Washington D.C.’s restrictive “good reason” requirement (i.e., a … [Read more...]
Ikea Buys TaskRabbit, Customers Win
I like this development for customers of Ikea. Retailers that continue to figure out how to improve the buying experience will be rewarded. Kara Swisher and Theodore Schleifer outline the deal at ReCode: TaskRabbit is one of the best-known startups in the so-called “gig” economy that links freelance workers with jobs, from handymen to movers to assistants. It has about 60 employees, but over 60,000 independent workers use its platform. The purchase of TaskRabbit was fueled by Ikea’s need to further bolster its digital customer service capabilities to better compete with rivals likes … [Read more...]
Bezos and Boston, MA
Amazon’s Jeff Bezos isn’t like the rest of us. That’s a given. Here you get some insight about his history with Boston, MA as he contemplates where to locate a second headquarters for Amazon. Here Scott Kirsner explains: Jeff Bezos has never lived, gone to school, or worked here, so how much can he know about Boston? Quite a lot. Since the founder of Amazon showed up to speak at a class at Harvard Business School in 1997, Bezos has invested in a handful of local companies — and bought others, sometimes pulling their leaders out to Seattle to work with him directly. He has overseen the … [Read more...]
Food Supply At Risk: Oranges from Brazil?
What other risks does our food supply face considering the added destruction of Florida oranges from Hurricane Irma? Florida's orange trees face a bacterial threat that makes their fruit unusable, and could lead to Americans getting all their orange juice from Brazil and beyond in the future. Now scientists are working on a way to prevent the bacteria from hurting the trees. Julie Wernau writes: A disease called “citrus greening” is pushing Florida’s orange juice industry toward the brink of collapse. Greening starts at the leaves and works its way through the tree like a hardening of the … [Read more...]
Hartford, CT Downgraded to Junk Status
Imagine if your credit score got reduced to junk status and you quickly understand how municipal bonds work. Joseph De Avila reports at the WSJ that Hartford, Connecticut has had its credit rating downgraded further into junk status as the city looks like it may default on its obligations as early as November. He writes: S&P Global Ratings knocked down Hartford’s rating by four notches to CC. Moody’s Investors Service lowered its rating for Connecticut’s capital city by two notches to Caa3. “The rating agency actions today reflect the reality we’ve been emphasizing for many months, … [Read more...]
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