Online shopping? You may need to pay online sales tax

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The Marketplace Fairness Act, a bill that would require online retailers to collect sales tax when it comes to online shopping purchases, is making its way through the Senate. Currently, only retailers with a physical presence within the state have the right to collect sales tax. Supporters of the bill include brick-and-mortar stores like Wal-Mart, Best Buy Co Inc and Sears. The bill is also supported by Amazon, the largest online retailer. Amazon initially was against the tax in 2011, but now supports it after it agreed to pay taxes in several states including California. Opponents of the bill, EBay being the largest, say the bill will excessively burden online retailers, who haven’t had to…

Bernard Arnault threatens to leave France

Bernard Arnault threatens to leave France over 75% Wealth Tax

French President Francois Hollande proposed a ludicrous 75 percent tax on those who are earning more the 1 million euros a year. In response Europe’s wealthiest man, Bernard Arnault, is threatening to leave the country. Bernard Arnault, the CEO of fashion giant LVMH, is worth an estimated US$41 billion and he does not want to let this money go. France’s most powerful businessman is threatening to move to Belgium, although he claims the move is not for tax purposes. Yeah right, Arnault. To make matters worse for Arnault, Liberation, a french newspaper, published a front-page photo of Arnault holding a suitcase with the headline, “Get Lost, Rich Bastard!” (“Casse-toi, riche con!“). Arnault plans to sue…

Cali tax measure targets Kim K. and millionaires

California tax measure targets Kim Kardashian and millionaires

Kim Kardashian is one of those celebrities people just LOVE to hate. Courage Campaign hopes to capitalize on Kim Kardashian hate. They want Kim K haters to pass a millionaire’s tax measure for California in November. Kim Kardashian reportedly earned $12 million in 2010, which is taxable at 10.3 percent in California. California’s tax structure is already quite progressive. The richest 1 percent pay 48.1 percent of state income taxes. But Courage Campaign says this isn’t fair. They say Kim Kardashian and others like her should pay 3 percent to 5 percent more. Governor Jerry Brown wants higher taxes for the rich as well, in addition to raising the sales tax. California faces a $3.7…

House Republicans reject payroll tax cut extension package

House Republicans reject payroll tax cut extension package

House Republicans have rejected a compromise package on extending a payroll tax cut. Unless congress can break the impasse, working Americans will see a payroll tax hike of two percent starting January 1st, 2012. Barack Obama has blamed Republicans for opposing the extension, even after he has compromised on the issue of the Keystone XL pipeline project. However, this was not enough for Congressional Republicans, who has come up with their own one-year extension proposal. But the Senate has already gone on holiday. With nobody to work with the House and the deadline of January 1st fast approaching, it looks like Americans will be getting a most unwelcome late Christmas present…a tax hike. ENGLISH:

Doctor who owes NT$5million in taxes has 17 luxurious cars

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Gynecologist Yeh Jou-Ching has refused to pay taxes since 2000. He owes taxes totaling more than NT$5 millions yet he started collecting luxurious cars four years ago and now owns 17 cars. Not only is he not willing to pay income taxes, he also refuses to pay parking fees. Tax officials found he didn’t have the heart to pay back taxes and have applied to have him taken into custody.

Chris Christie denies ‘Jersey Shore’ tax credit

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NJ Governor Chris Christie has been crusading against the MTV show ‘Jersey Shore.’ He thinks it hurts his state’s image. Now Christie is denying the show a hefty $420,000 tax credit. Meanwhile, the company that produces ‘Law & Order: SVU’ will be credited $9 million. Are blood and guts less offensive than guidos? The snub won’t bankrupt ‘Jersey Shore.’ The show has enough cash to pay its cast upwards of 100 grand per episode. Still, Christie looks like a cultural hero. Will he run for president 2012 on an anti-guido platform? ENGLISH:

Australia carbon tax has Gillard in a sweat

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In 2010, Australian Labor Party candidate Julia Gillard promised not to introduce a carbon tax if elected PM. She won by a razor thin margin. Heavy reliance on coal means Australia is of the world’s worse carbon dioxide polluters. Many Australians are outraged at Gillard’s U-turn. Carbon will cost A$23 per ton for large polluters for the first three years. The price afterwards will be set by the market. Opposition leader Tony Abbott has lambasted Gillard’s scheme as a job killer that will harm competitiveness. Former leader Malcolm Turnbull has so far stayed silent. Gillard’s alliance with the Greens will help her pass the scheme, but if Labor loses the next election Abbott has vowed…

Amazon takes on California over sales tax

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For years, US consumers could dodge state sales tax by shopping online with websites such as Amazon.com, Bricks and mortar stores can’t compete. Bookseller Borders is on the verge of shutting down. However, states such as California are hard up for cash after the financial crisis. Governor Jerry Brown decided to make Amazon charge the sales tax. Amazon CEO Jeff Bezos claimed it was too hard to figure out the sales tax for every state. When that did not fly, he shut down Amazon’s affiliate program in California. His next step is to introduce a ballot initiative to try and get Californians to help him keep the tax loophole open. CHINESE: