Last month, Peacock aired the series finale of their monster hit Yellowstone. (One big spoiler to come!) For five and a half seasons, the show chronicled the ups and downs of the Dutton family, heirs to the largest contiguous ranch in the United States, as they fought to defend their land. On one side, greedy developers conspired to turn it into the next Park City. On the other, the neighboring Broken Rock tribe wanted to reclaim their ancestral home. Real Montana ranchers say the show is remarkably true-to-life, especially the gunfights, beatings, explosions, and occasional “long black train” to the back of the head.
taxpolicy
Poop. Farts. Burps.
This week’s story is mostly ridiculous, unless you’re a five-year-old boy just starting to learn dirty words. But it illustrates just how far some countries will go to find new sources of revenue. It also illustrates how precisely lawmakers can target taxes to influence their citizens’ behavior. Fortunately, we’re on your side, using our opposable thumbs every day to help you pay less!
When Irish Eyes Are Smiling
Economies across the board are roaring back from the pandemic. But few have roared back faster than Ireland. The Emerald Isle is projected to grow by 2.5% this year and 3% next year. The Wall Street Journal reports the government is stashing cash in two sovereign wealth funds and regulators are warning they’re spending so fast they may overheat the economy. Still, there’s enough left over to start work on a €2.2 billion children’s hospital and spend €10 million on keeping the kids off their phones at school. (If you figure out an answer, could you maybe send it our way?)
Taxing “Climate Criminals”
Last week, we discussed how the 2017 tax cuts are scheduled to expire at the end of 2025—and how the election results make it likelier that Washington will extend them. Here’s the problem: it won’t be cheap. The Congressional Budget Office estimates extending the current rules will blow a $4 billion hole in the budget over the next 10 years, along with an unknown amount of higher interest payments on the new debt. That’s making life difficult for a new administration that also wants to eliminate tax on tips, overtime pay, and Social Security benefits, along with other giveaways.
Here’s a Tip
Right now, Americans are locked in an increasingly fierce presidential election battle. Partisans on both sides are calling it the most important election of our lives. Rhetoric is growing hotter on social media platforms like Facebook and X, or whatever Elon Musk is calling Twitter these days. Some extremists are calling for violence if their […]