October 23, 2015

TAX WHAT YOU DON'T WANT, NOT WHAT YOU DO:

Plastic bag charge cuts use 80% in Scotland (Press Association, 20 October 2015, The Guardian)

The number of plastic carrier bags handed out in stores was slashed by at least 650 million in the first year of Scotland's 5p charge.

New figures released on the anniversary of its introduction indicate the levy has cut usage by around 80%, equivalent to 650 million fewer bags than in previous years.

The charge for single-use carriers has also raised around £6.7m for good causes in the past 12 months.

The Self-Defeating Corporate Income Tax (Jay S. Fishman, 10/21/15, Bloomberg View)

For many years, policy makers have criticized the strategies that American corporations use to reduce their taxes by shifting income and capital offshore. The impetus behind these strategies is the U.S. corporate income-tax rate -- at 35 percent, the highest of any industrialized nation, easily surpassing countries such as the U.K. (20 percent) and Canada (15 percent).

Reducing this rate would end a self-defeating policy that distorts corporate behavior, weakens domestic companies and ultimately harms the U.S. economy.

Posted by at October 23, 2015 11:09 AM
  

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