My Blog

Tag: Laffer Curve

  • France’s Richest Man Moves to Belgium

    The richest man in France has officially transferred his multi-billion pound fortune out of his homeland to Belgium. Bernard Arnault, head of luxury goods group LVMH, insists he has moved his assets for ‘family inheritance reasons’. But others are convinced that the 63-year-old has joined other tycoons and celebrities in wanting to avoid taxes –…

  • Cook County Losing Income/People

    A wonderful graphic created by Crains. Crains Chicago Business.

  • 2/3 of Millionaires Avoid 50% Tax Rate

    Two-thirds of millionaires left Britain to avoid 50p tax rate Almost two-thirds of the country’s million-pound earners disappeared from Britain after the introduction of the 50p top rate of tax, figures have disclosed. via Telegraph. Shhhhh…  This is a secret.  No one tell the U.S. media.  They think the “rich” will just stay and give…

  • Cook County’s New Business Killers, a/k/a Taxes

    Cook County Board President Toni Preckwinkle’s proposed budget calls for a 1.25 percent tax on businesses that buy “non-titled” items like office supplies, equipment, building materials and even artwork from outside the county’s borders.  … County businesses would be allowed to purchase these goods up to $2,500 without any penalty, county officials said. The businesses…

  • Jimmy John’s Leaving Illinois, Florida Bound

    Jimmy John Liautaud is moving part of the sandwich chain that bears his name to Florida next year, making good on a threat issued in 2011 after Illinois hiked its corporate tax rate. The founder of Jimmy John’s Gourmet Sandwiches said during a Sept. 18 panel discussion in Chicago that he will relocate the company’s…

  • Rahm: Higher Cigarette & Amusement Taxes

    Mayor Rahm Emanuel is considering an increase in city taxes on cigarettes and entertainment to help close an anticipated $369 million gap in next year’s budget, City Hall sources said Wednesday.  … It’s unclear how much the cigarette tax might be raised. A city tobacco tax increase would come on the heels of a $1-a-pack…

  • One Word for CPS Teachers: Save

    Save. Save as much money as you can. Live well below your means. The pension time-bomb is coming. One of the most vexing problems for Chicago and its teachers went virtually unmentioned during the strike: The pension fund is about to hit a wall. The Chicago Teachers’ Pension Fund has about $10 billion in assets,…

  • Denise Rich: Democrat Who Fled the U.S.

    Denise Rich, the wealthy socialite and former wife of pardoned billionaire trader Marc Rich, has given up her U.S. citizenship – and, with it, much of her U.S. tax bill. Rich, 68, a Grammy-nominated songwriter and glossy figure in Democratic and European royalty circles, renounced her American passport in November, according to her lawyer. via…

  • Raise Taxes — Lose Revenue

    The current taxes on a pack of cigarettes in Chicago include $2 from Cook County, 98 cents from Illinois and 68 cents from the city. If Quinn signs the latest increase, the taxes in Chicago will be $4.66 per pack, compared with 99 cents in East Chicago. On Monday, a pack of Marlboros at a…

  • Wealthy Flee France (Shhh, don’t tell the U.S. Media)

    For those that don’t know, France recently had an election and voted for the most socialist guy on the ballot.  The guy who’s promising to raise taxes on the rich and increase the transfer payments to the poor.  The result?  The rich are leaving…  in droves. France’s high earners feel increasingly unwelcome in a country…