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Articles related to "tax"


Elon Musk Cries Foul After US Govt Chooses Rival Rockets Over SpaceX

  • SpaceX filed a lawsuit against the federal government, alleging the Air Force Space and Missile Systems Center shouldn’t have awarded billions in contracts to other firms – including Jeff Bezos’ Blue Origin.
  • The Air Force evaluated proposals from SpaceX, Northrop Grumman, Blue Origin, and United Launch Alliance, the latter of which is a joint venture between Lockheed Martin and Boeing.
  • This isn’t the first time Elon Musk sued the Air Force.
  • The second reason the Air Force may have rejected SpaceX is the very fact that the Elon Musk empire has been struggling for some time.
  • The reasons Elon Musk and SpaceX are suing the federal government are twofold: sour grapes and SpaceX needs the money.
  • The LA Times reported that SpaceX received almost $5 billion in federal subsidies.

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Kenney government’s Bill 1 will roll back Alberta carbon tax on everyone but large emitters

  • The United Conservative government has said it will replace the CCIR with a new system in early 2020 that would drop the tax from $30 per tonne to $20 per tonne of CO2 on large emitters and use that money to invest in emissions-reducing technologies.
  • At that point, fuel re-sellers like gas stations and power utility companies will not be allowed to apply the carbon tax to consumers.
  • The bill will also amend existing laws like the Alberta Personal Income Tax Act and the Fuel Tax Act and allow the province to use the money derived from the carbon tax on large emitters in any way it wants.
  • The province’s largest employer, the oil and gas business, is not expected to make major changes as Ottawa has signalled it will impose a carbon tax on Alberta.

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Australians voted against more climate-regulation mania, but there’s still much to do

  • There was no area where the Labor Party would offer less regulation or lower spending than the conservatives.
  • Labor and the Greens were unable to explain how additional regulations would not exacerbate already-tried renewable-energy policies that have turned Australian electricity from among the world’s cheapest to among the most expensive.
  • While the LNC had years ago stood for (and succeeded in) abolishing carbon taxes, it nonetheless ratified the Paris climate agreement and has required 23 per cent of electricity to be generated by renewables (only about seven per cent of this is unsubsidized hydroelectric power).
  • Though the government appears to support additional coal-fired electricity generation to offset the unreliability of wind and solar, the fact that such support is necessary in the first place speaks volumes about the sovereign risk imposed by the politics of energy.
  • In short, Saturday’s victory for Australia’s LNC reprieves rather than reverses the march of big-spending government and accumulating environmental regulations.

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Bitcoin Bull's $800,000 Tax Bill Due as Israeli Court Rules Crypto is 'Property'

  • By CCN: An Israeli court has ruled that Bitcoin is not a currency but rather an asset.
  • The ruling means that Copel will pay taxes of New Israeli Shekel (NIS) 3 million ($830,115).
  • In the course of presenting arguments, Copel had made the case that bitcoin should be classified as a foreign currency.
  • One of his arguments was that bitcoin should be viewed as a foreign currency such as the dollar.
  • Further, Copel urged the court to view the profits made as differences in exchange rates and therefore not taxable.
  • Besides paying the tax on capital gains of his bitcoin holdings, Copel will also meet legal costs totaling NIS 30,000 ($8,300).
  • The tax agency’s position was that Bitcoin did not meet the qualities of a currency.
  • In the United Kingdom, a capital gains tax is also applied when cryptocurrencies are disposed of.

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Beto O'Rourke: Our farmers are paying the price for our trade wars

  • President Donald Trump's tariffs have led America's trading partners to turn elsewhere -- leaving many farmers like the Sargents holding the bag.
  • Two years worth of crops, spoiled and worthless -- a casualty not only of climate change but of this President's unnecessary trade wars.
  • And the more time I spend listening in rural communities, the clearer it becomes: China isn't paying the price for this reckless trade war.
  • Meeting with farmers like the Sargents inspired me to revise my climate plan to make sure that federal crop insurance covers stored grain.
  • Our plan will also protect communities against flooding and create new market incentives for carbon farming -- farming in more environmentally sustainable ways.
  • And as president, I would work with rural America to end these awful trade wars.

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Tesla cuts the price of the Models S and Model X

  • Faced with a slumping stock price and questions about demand for its vehicles, Tesla has lowered the US base prices of its two most expensive models.
  • The company on Monday cut $3,000 from the price of the Model S sedan and $2,000 from the Model X SUV.
  • Tesla wouldn't say if slowing sales influenced the decision.
  • But the company did say it periodically adjusts prices and available options like other car companies.
  • Tesla says the decreases offset price increases from a month ago when it offered longer battery range and added a new drive system and suspension.
  • The Model S now starts at $71,250 while the X starts at $71,950.
  • Both prices don't include federal and state tax credits.
  • Get the latest Tesla stock price here.

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Andrew Yang: The U.S. government is 24 years behind on tech

  • In 2009, the company was acquired by testing giant Kaplan, after which Yang launched Venture for America, a fellowship program with the mission “to create economic opportunity in American cities by mobilizing the next generation of entrepreneurs.” The nonprofit grew from an annual operating budget of $200,000 in 2012 to $6 million in 2017, and it now has a presence in about 20 U.S. cities and a startup accelerator in Detroit.
  • Analysts at CB Insights report that 11% of all AI startups are headquartered in Chinese cities, a share equaled only by Israel, and that China-based firms SenseTime and Megvii are two of the best-funded AI companies globally, owing in large part to government contracts.

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IRS Claims to Prioritize Tax Rules for Crypto Investors but Lacks Urgency

  • By CCN: Cryptocurrency investors may soon have more clarity on how the IRS will tax their holdings now that the agency has said it is making that a priority.
  • The latest IRS acknowledgment of crypto taxation issues is in response to members of Congress.
  • While initial guidance was provided, ambiguity surrounding how taxpayers should calculate and track the basis of their virtual currency holdings is unacceptable, Rep. Emmer added.
  • Repeated requests to the agency for additional clarity have been made by a variety of entities to little avail.
  • As a result, few are willing to admit they hold crypto.
  • While Rettig said providing clarity for crypto taxation is a priority, who really knows what that means?
  • I threw myself into covering the crypto space with the keen understanding that it would be an industry disruptor.

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I tried to order 9 things from McDonald's 'secret menu' — but it was a much bigger challenge than I expected

  • McDonald's secret menu has become the stuff of urban legend.
  • There are the classic cheap workarounds like the scrappy Poor Man's Big Mac, but also the whimsical Land, Sea, and Air Burger, as well as the mythological Monster Mac. Diehard fans have circulated online rumors of the secret menu's existence for years, and a UK McDonald's manager even confirmed the existence of certain items on social media in 2015.
  • However, McDonald's officially denies the existence of a secret menu.
  • I took my list to the McDonald's location across the street from Business Insider's New York City offices and went up to the counter.
  • As soon as the words "secret menu" left my mouth, the cashier left and returned with her manager, who took my order instead.

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Walmart's move to a new headquarters highlights just how different it is from Amazon

  • Walmart is gearing up to move into a snazzy new Bentonville, Arkansas, headquarters, but don't think for a second that this move is anything like Amazon's HQ2 search.
  • Almost all of Walmart's Arkansas-based corporate employees will begin to work in this new Stanford-inspired campus when it's finally ready around 2024.
  • Amazon's search for a second headquarters was hyper-publicized since it was first announced in September 2017, unrolling like a particularly lengthy season of a reality competition show.
  • Amazon's decision to split the HQ2 in northern Virginia and New York City, was deflating for some, as was the selection of two already wealthy locales.
  • And then, of course, there was the highly politicized implosion of Amazon's proposed Long Island City headquarters, which ultimately resulted in the online retailer's decision to pull the plug on its New York excursion.

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