The hottest Taxation Substack posts right now

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Atrium and Novant get millions in property tax breaks

The Charlotte Ledger • 235 implied HN points • 03 Apr 23
💼 Business Healthcare Taxation Nonprofit Government Regulation Financial impact
  1. Atrium and Novant hospitals receive millions in property tax breaks, exempting them from paying taxes on billions of dollars worth of property.
  2. The tax breaks the hospitals receive could total $23 million in Mecklenburg County alone, contributing to a loss in potential tax revenue that could fund essential public services like education and law enforcement.
  3. Critics argue that as large, multi-billion-dollar enterprises, hospitals like Atrium and Novant should do more to justify their tax-exempt status and provide greater community benefits.

The case for a weirder economy

Known Unknowns • 196 implied HN points • 22 May 23
💼 Business Economics Taxation
  1. Monetary policy is at a historic inflection point, requiring expertise in financial markets.
  2. Inheritance taxes should be increased for wealth redistribution and better tax enforcement.
  3. Maintaining weirdness and innovation is vital in a world that favors conformity.

Rescheduling Update

Mindset Value • 176 implied HN points • 31 Aug 23
💰 Finance Investing Cannabis Stocks Taxation Government regulations
  1. The US government is signaling that cannabis is less dangerous by recommending rescheduling from Schedule 1 to Schedule 3.
  2. Rescheduling could lead to the removal of excessive taxation in the cannabis industry and open the door for more financial investments.
  3. Investment opportunities may arise with companies like Grown Rogue adapting to market conditions and demonstrating competitive advantages.
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Wealthy, Elite Universities Like Harvard Taxed You $45 Billion In Last Five Years

OpenTheBooks Substack • 241 implied HN points • 15 Nov 23
🇺🇸 U.S. Politics Education Funding Taxation Policy Scandals
  1. Wealthy universities like Harvard received $45 billion in federal payments, tax breaks, and subsidies over the last five years.
  2. Top universities prioritized securing federal contracts and grants over student tuition, with $33 billion flowing to them annually.
  3. Elite universities also benefited from special tax treatment benefits on endowment gains and additional government subsidies.

Links to Consider, 1/19

In My Tribe • 273 implied HN points • 19 Jan 24
🇺🇸 U.S. Politics Social Issues Policy Economy Gender Taxation
  1. Wokeness and victimhood culture are not just influenced by laws, but also by disparities in outcomes.
  2. Core gender beliefs have historically influenced societies and changes in those beliefs affected women's opportunities.
  3. Government benefit policies can inadvertently discourage work and incentivize receiving benefits, creating a cycle of dependency.

Kishida May Raise Corporate Taxes, Part I

Japan Economy Watch • 319 implied HN points • 30 Oct 22
💰 Finance Taxation Corporate Governance Investment Economic Policy
  1. The Japanese government is considering raising corporate taxes after years of lowering them, due to disappointing outcomes such as insufficient investment and wage hikes.
  2. The need to finance a significant increase in defense spending is a major factor in the potential corporate tax hike, as relying on deficits is seen as irresponsible.
  3. Japan has a significant amount of retained earnings due to low shareholder power, leading to companies not reinvesting the cash in the economy.

Some Thoughts On Using Auctions For Land Valuation

Splitting Infinity • 59 implied HN points • 14 Feb 24
💰 Finance Taxation Property Real Estate Economics Auctions
  1. Auctions can be considered as a method for assessing land values without the need for state-run assessments, allowing the market to determine the value of land.
  2. The use of auctions for land valuation can ensure transparency and fairness by providing everyone with the opportunity to bid on a piece of land publicly.
  3. While auctions may introduce some complexities like bargaining over home prices, they can still lead to reasonably accurate land valuations and generate significant tax revenue.

Investing Update: Is Mag 7 Leadership Returning?

Spilled Coffee • 20 implied HN points • 26 Oct 24
💰 Finance Stock Market Investing Earnings Economics Taxation
  1. The stock market is having a strong run, especially the Nasdaq, which has been up for seven weeks in a row. The Dow and S&P 500 ended their winning streak after six weeks.
  2. Investors seem confident, adding a lot of money to stocks recently, even with the upcoming elections. Earnings from major companies will be more relevant to the market than the election results.
  3. Expect some market ups and downs as the election approaches, but focusing on earnings reports will be more important for making investment decisions.

Postponomics: Kishida Punts On Startups and Income Redistribution

Japan Economy Watch • 259 implied HN points • 07 Dec 22
💼 Business Startups Taxation Government intervention Funding Economic Policy
  1. Kishida's administration has postponed crucial decisions on tax breaks for startups and corporate tax hikes, potentially hindering economic growth and income redistribution.
  2. Access to funding remains a significant challenge for startups in Japan, impacting their growth potential compared to other countries. More support is crucial for new companies to thrive.
  3. Government actions such as expanding angel tax credits and implementing R&D tax credit carry-forwards can significantly boost support for startups and innovation in Japan.

One Big Way to Boost Housing Supply and Reduce Investor-Owned Housing

The New Urban Order • 119 implied HN points • 12 Jun 23
💰 Finance Housing Investing Taxation Government programs Real Estate
  1. The housing market is facing challenges with low supply and high demand, keeping housing prices inflated despite high mortgage rates.
  2. Creating a time-sensitive incentive program can push real estate investors to sell to homeowners, potentially boosting housing supply and lowering prices.
  3. Offering a one-year tax amnesty on capital gains taxes for investors who sell to homeowners could help unlock housing stock, shift ownership, and improve market dynamics.

Getting Tax Burden Wrong

David Friedman’s Substack • 152 implied HN points • 08 Jan 24
🇺🇸 U.S. Politics Taxation Economics Government
  1. Who bears the burden of a tax depends on the effect of the tax on the transaction terms, not just who hands over the money.
  2. Excess burden of taxes includes costs incurred by individuals that nobody receives, even if the government doesn't collect the tax.
  3. Smith's view on taxation aims for incidence of tax burden proportional to income, not necessarily flat rate income tax.

Fifty years of putting off the inevitable

Comment is Freed • 102 implied HN points • 22 Feb 24
💰 Finance Government spending Taxation Education
  1. Jeremy Hunt may announce a tax cut that is not financially sustainable and could be misleading.
  2. The UK's tax burden is lower compared to other countries, partly due to lower spending on social programs.
  3. The UK's low tax burden is also a result of reduced spending on working age benefits, uniquely high housing benefit expenditure, and underinvestment in infrastructure.

Detroiters Are Paying Speculators' Property Taxes

The Chargeback • 78 implied HN points • 16 Oct 23
🇺🇸 U.S. Politics Taxation Property Rights Urban Issues
  1. The City of Detroit is proposing a land value tax to address the issue of Detroiters paying speculators' property taxes.
  2. Current property tax systems benefit owners of unused or dilapidated properties over those with occupied homes in good condition.
  3. Implementing a land value tax could shift the burden of property taxation away from Detroiters to speculators.

"Does Detroit even need to tax homeowners?"

The Chargeback • 78 implied HN points • 08 Oct 23
🇺🇸 U.S. Politics Policy Taxation Local government Revenue
  1. Eliminating all property taxes would lead to significant revenue loss for the city and make land speculation easier.
  2. Eliminating only homeowner property taxes could hurt renters and lead to increased taxes for non-homestead properties.
  3. Eliminating the portion of property taxes controlled by the City of Detroit could benefit homeowners but also speculators, and may not be revenue neutral.

Can a new Democratic order address the American Crisis?

America in Crisis • 59 implied HN points • 19 Aug 23
🇺🇸 U.S. Politics Policy Elections Economy Political parties Taxation
  1. The distribution of wealth between political parties impacts addressing issues like inequality, politics, and climate change.
  2. Historical patterns indicate a potential shift towards a new Democratic dispensation in the US political landscape.
  3. Economic factors, like job creation and inflation control, play crucial roles in shaping future electoral outcomes and party dynamics.

The Case For A National Sales Tax

Stark Realities with Brian McGlinchey • 166 implied HN points • 01 Mar 23
🇺🇸 U.S. Politics Taxation Government programs Economic Impact Tax reform Political resistance
  1. A national sales tax could replace multiple taxes like income and payroll, simplifying the tax system.
  2. A federal sales tax would make the cost of the government more transparent to citizens.
  3. Replacing income tax with a sales tax could change how Americans view programs like Social Security and Medicare.

Inside Pandora's Box

Diane Francis • 279 implied HN points • 11 Oct 21
🇺🇸 U.S. Politics Politics Finance Corruption Investigative Journalism Taxation
  1. The Pandora Papers show a large amount of hidden money and tax evasion linked to powerful people around the world.
  2. Investigative journalists worked hard to sort through millions of documents to uncover this information.
  3. This data leak highlights how corruption and financial wrongdoing can involve politicians, dictators, and other famous figures.

Adapting Land Value Taxation to Space

Splitting Infinity • 39 implied HN points • 17 Aug 23
🕹 Technology Taxation Natural resources Assessment Resource Management
  1. Taxation is essential for governance and must be adapted for effective government in space as the celestial realm sees more activities and developments.
  2. Principles of taxation like efficiency, sufficient revenue, practicality, tolerance, clarity, and locality should guide the design of tax systems in space to ensure fairness and viability.
  3. Georgism, with its focus on land value taxes, can offer a balanced solution for taxation in space by encouraging development while discouraging rent-seeking behaviors.

Things every founder should know about "founder's stock" and QSBS

Nathan’s Substack • 39 implied HN points • 03 Sep 23
💼 Business Startups Taxation Investments Entrepreneurship
  1. When starting a tech company, it's almost necessary to be a Delaware C-corp for investor funding, with significant advantages such as no corporate income tax and efficient legal processes.
  2. Founders stock refers to shares purchased by founders at formation for a very low value that brings tax benefits like immediate tax payments with the 83(b) election and quicker QSBS clock start.
  3. Understanding tax provisions like QSBS can lead to significant advantages for entrepreneurs, with strategies like 1045 exchanges and investing in Qualified Opportunity Zones to maximize gains and minimize taxes.

Why the postwar prosperity was not atypical

America in Crisis • 19 implied HN points • 03 Feb 24
🇺🇸 U.S. Politics Economic Policy Labor Market Taxation Income Inequality Cultural Evolution
  1. Real wages for working class people grew slower after the 1970s due to economic policies, like tax cuts, since the Reagan administration.
  2. The post-war US economic success wasn't solely due to lack of foreign competition; trade only increased after mid-1960s tariff reductions.
  3. Shift away from high-productivity manufacturing jobs doesn't explain wage stagnation; the decrease in share of income going to working class started around 1980.

Less-than-Universal Basic Income

Hypertext • 19 implied HN points • 02 Feb 24
🇺🇸 U.S. Politics Economics Social Welfare Policy Government Taxation
  1. Universal Basic Income (UBI) has gained popularity, but its implementation faces challenges in terms of cost and fairness.
  2. Alternative approaches like a permanent expansion of the Child Tax Credit offer a more feasible path for large-scale cash transfers.
  3. Expanding the Child Tax Credit could address concerns about cost and fairness while still providing significant support to families in need.

IRS officially launches Direct File pilot

philsiarri • 22 implied HN points • 12 Mar 24
🇺🇸 U.S. Politics Taxation Government Technology
  1. The IRS has launched the Direct File pilot program in 12 U.S. states, allowing eligible taxpayers to file their tax returns online for free.
  2. The Direct File program aims to simplify the filing process for taxpayers with straightforward tax situations and offers live chat support.
  3. Taxpayers can verify their identity through ID.me and use the Direct File service securely, positioning it as a free alternative to paid online services like TurboTax.

Abolish the SALT Deduction

California Thoughts • 19 implied HN points • 12 Feb 23
🇺🇸 U.S. Politics Taxation Wealth Inequality Government spending Tax policy
  1. Repealing or increasing the cap on the SALT deduction would benefit the richest Americans and increase inequality.
  2. Factors like housing costs influence migration more than taxes, so removing the SALT deduction cap may not lead to as much migration as expected.
  3. It is suggested to abolish the SALT deduction and most other itemized deductions to prioritize spending on anti-poverty measures.

Instead of targeting welfare, charge after-the-fact

Splitting Infinity • 19 implied HN points • 18 Sep 23
🇺🇸 U.S. Politics Welfare Taxation Social programs Privacy Concerns
  1. Consider charging people for welfare aid after they have received it, managed by the IRS on tax day. This could streamline the process and save on administrative costs.
  2. Using the IRS to handle welfare targeting can provide a more cost-effective and efficient way to assist those in need, by utilizing existing data and payment systems.
  3. Implementing a retroactive welfare eligibility system could help quicken aid distribution and potentially increase tax revenue, while also maintaining accountability and transparency.

Free Money

The Odin Times • 19 implied HN points • 18 Jun 23
💼 Business Investments Startups Taxation
  1. SEIS and EIS schemes in the UK offer tax relief for investing in startups, making government schemes ideal for angel investors.
  2. Investors can get up to 50% of their investment back as tax relief, and pay no capital gains tax on profits, de-risking the investment.
  3. SEIS and EIS have driven growth in the UK startup ecosystem and helped make the UK an attractive country for angel investors.

A Pro-Speculator Property Tax Policy from Some in Detroit City Council

The Chargeback • 19 implied HN points • 10 Oct 23
🇺🇸 U.S. Politics Policy Taxation Government Local Housing
  1. Some members of the Detroit City Council are proposing a property tax policy that could benefit outside property speculators.
  2. Eliminating all property taxes could give non-residents an advantage over Detroit residents in property ownership.
  3. Supporting property tax relief for low-income homeowners could be a better solution than empowering speculators.

How inequality reduction happened 80 years ago

America in Crisis • 19 implied HN points • 03 Aug 23
🇺🇸 U.S. Politics Inequality Economic Policy Political History Taxation Social Policy
  1. Inequality reduction 80 years ago was achieved through a combination of high marginal tax rates, pro-labor policies, and strong economic stimulus.
  2. The handling of economic crises by political elites and the choice of policies played a significant role in resolving the issues without internal conflict.
  3. The alignment of political parties and the evolution of party composition have an impact on the feasibility of implementing policies to address inequality and economic instability.

Understanding startup stock options: Part 1

Brick by Brick • 18 implied HN points • 19 Feb 24
💰 Finance Stock Options Taxation Valuation Liquidity
  1. Stock options are a key part of startup employee compensation, involving vesting schedules and the opportunity to buy company shares at a set price.
  2. 409A valuations determine the fair market value of a company's stock, influencing employee stock option prices and taxation.
  3. The 90-day window after leaving a company requires employees to decide whether to exercise their vested stock options or lose them, potentially facing significant financial implications.