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𝐓𝐡𝐞 𝐓𝐫𝐮𝐞 𝐂𝐨𝐬𝐭 𝐨𝐟 𝐓𝐚𝐱 I enjoyed granting this interview in Kenya with Julians Amboko, a brilliant financial journalist at Nation Media Group - the largest independent media organisation in East and Central Africa. Africa must remove disincentives to investment and barriers to growth, and revenue will follow. It’s...

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Taiwo Oyedele

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31,285 просмотров • 10 месяцев назад •via X (Twitter)

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President’s tax reform bills aimed at modernizing and strengthening the nation's tax system. These reforms will boost revenue, reduce reliance on loans, and address the weak tax base that has left the country's revenue-to-GDP ratio among the lowest in Africa. President Tinubu has made great efforts to pay down Nigeria's backlog of debts and would effectively utilisize loans taken for national development. Nigeria today is not even in the list of the top 14 debtor nations in the world today. The names on the list will surprise. We must focus as a country and support ongoing efforts to rebuild our economy and improve well being.
1:30

President’s tax reform bills aimed at modernizing and strengthening the nation's tax system. These reforms will boost revenue, reduce reliance on loans, and address the weak tax base that has left the country's revenue-to-GDP ratio among the lowest in Africa. President Tinubu has made great efforts to pay down Nigeria's backlog of debts and would effectively utilisize loans taken for national development. Nigeria today is not even in the list of the top 14 debtor nations in the world today. The names on the list will surprise. We must focus as a country and support ongoing efforts to rebuild our economy and improve well being.

Sunday Dare,CON

13,502 просмотров • 1 год назад

This Billionaire Tax has already cost California a great deal—just the threat of it has caused TRILLIONS of dollars in wealth to leave the state already. We can’t afford more tax revenue, business, and jobs leaving the state when we already have the highest poverty rate and highest unemployment rate in the country.
0:50

This Billionaire Tax has already cost California a great deal—just the threat of it has caused TRILLIONS of dollars in wealth to leave the state already. We can’t afford more tax revenue, business, and jobs leaving the state when we already have the highest poverty rate and highest unemployment rate in the country.

Steve Hilton

54,978 просмотров • 1 месяц назад

Yesterday I was opportune to be part of a Town Hall event organised by Channels Television anchored by SeunOkin Channels tv to discuss the Tax Reform Bills currently before the national assembly. The bills have seen significant opposition coming from some northern leaders and the NGF, especially on the issue of VAT revenue sharing among the states with many calling for the bills to be withdrawn by the President on account of this singular issue. Personally, I feel that part of the opposition from the bills stems from ignorance of the actual provisions contained in them or misconception of some aspects of the bill. However, when we look at the amount of VAT revenue that is triggering this whole haggling, you'll realise how precarious our revenue situation is. A dispassionate look at the data is essential to guide our positions on the necessity of these tax reforms. By the end of 2024, we may hit a record VAT collection of N6 trillion but that's just around $3.5 billion. In many states, their share of VAT revenue from FAAC in a year is bigger than their entire IGR! How on earth do you develop with such a revenue profile? This shows clearly that we need to reorganise and re-engineer our finances for optimum performance. This is what these bills seek to do. Although, increasing revenue collection is actually one of the intentions of these reforms but it is not the MAJOR reason. The major aim is to remove all the cogs and bottlenecks that affect growth and profitability of businesses in Nigeria by reducing their tax burden and exempting the small businesses from paying income tax. The vast majority of Nigerians who are poor would also be exempt from paying income tax. We're talking about 90% of Nigerians here! In other climes, any piece of legislation that brings overall tax relief to low income earners is always a popular bill with massive support. It is therefore bizarre that some persons are up in arms in Nigeria to oppose this kind of landmark legislation and they claim they're fighting for the masses. Data and logic should guide our positions and not sentiments or mischievous ignorance. Any reservations held by any individual or group about any section of the bills should be presented to the NASS during the public hearings and not calling for the withdrawal of the bills. Let's be serious in this country please.
4:58

Yesterday I was opportune to be part of a Town Hall event organised by Channels Television anchored by SeunOkin Channels tv to discuss the Tax Reform Bills currently before the national assembly. The bills have seen significant opposition coming from some northern leaders and the NGF, especially on the issue of VAT revenue sharing among the states with many calling for the bills to be withdrawn by the President on account of this singular issue. Personally, I feel that part of the opposition from the bills stems from ignorance of the actual provisions contained in them or misconception of some aspects of the bill. However, when we look at the amount of VAT revenue that is triggering this whole haggling, you'll realise how precarious our revenue situation is. A dispassionate look at the data is essential to guide our positions on the necessity of these tax reforms. By the end of 2024, we may hit a record VAT collection of N6 trillion but that's just around $3.5 billion. In many states, their share of VAT revenue from FAAC in a year is bigger than their entire IGR! How on earth do you develop with such a revenue profile? This shows clearly that we need to reorganise and re-engineer our finances for optimum performance. This is what these bills seek to do. Although, increasing revenue collection is actually one of the intentions of these reforms but it is not the MAJOR reason. The major aim is to remove all the cogs and bottlenecks that affect growth and profitability of businesses in Nigeria by reducing their tax burden and exempting the small businesses from paying income tax. The vast majority of Nigerians who are poor would also be exempt from paying income tax. We're talking about 90% of Nigerians here! In other climes, any piece of legislation that brings overall tax relief to low income earners is always a popular bill with massive support. It is therefore bizarre that some persons are up in arms in Nigeria to oppose this kind of landmark legislation and they claim they're fighting for the masses. Data and logic should guide our positions and not sentiments or mischievous ignorance. Any reservations held by any individual or group about any section of the bills should be presented to the NASS during the public hearings and not calling for the withdrawal of the bills. Let's be serious in this country please.

Michael Chibuzo®

16,022 просмотров • 1 год назад

Mamdani: PTET is essentially a loophole that allows high-income earners to reduce their federal tax burden. Who benefits? Millionaires and multimillionaires. More than 95% of PTET credits go to those making more than $1 million a year. More than 80% go to those earning more than $5 million a year. The PTET, in short, is a tax cut for the rich. We are not calling to eliminate the credit. We are instead asking the state for a modest reduction from 100% to 75%—that change alone will generate nearly $1 billion in additional revenue, revenue we can invest in buses that carry New Yorkers to work, the public schools that educate our children, and the public parks and beaches where we spend our summers.
0:45

Mamdani: PTET is essentially a loophole that allows high-income earners to reduce their federal tax burden. Who benefits? Millionaires and multimillionaires. More than 95% of PTET credits go to those making more than $1 million a year. More than 80% go to those earning more than $5 million a year. The PTET, in short, is a tax cut for the rich. We are not calling to eliminate the credit. We are instead asking the state for a modest reduction from 100% to 75%—that change alone will generate nearly $1 billion in additional revenue, revenue we can invest in buses that carry New Yorkers to work, the public schools that educate our children, and the public parks and beaches where we spend our summers.

Acyn

119,069 просмотров • 3 месяцев назад

Seun: What are the immediate challenges that you think that Mr Taiwo Oyedele should be prepared for, especially because of his experience as a tax advisor and also head of the presidential committee on tax reforms? Wale Edun: I think we need to grow the economy. In order to grow the economy, we need to find funding on the government side. Yes, there is a role for the government to play in critical infrastructure funding. The so-called pillars for investment, and in order to do that, we need to boost revenue. So we really need to use automation, digitisation, even AI and other technology to increase government revenue, and he [Oyedele] is clearly an expert in the tax and fiscal area. That's his training, that's his background, and that's his most recent task that the government has given him. The next step, and it must come quickly and at scale, is to have investment that increases productivity, grows the economy, creates jobs, and gives people income that reduces poverty, and I must emphasise this. That the whole point of the president's Renewed Hope Agenda and action plan is to reduce poverty in the land. #PoliticsToday
2:07

Seun: What are the immediate challenges that you think that Mr Taiwo Oyedele should be prepared for, especially because of his experience as a tax advisor and also head of the presidential committee on tax reforms? Wale Edun: I think we need to grow the economy. In order to grow the economy, we need to find funding on the government side. Yes, there is a role for the government to play in critical infrastructure funding. The so-called pillars for investment, and in order to do that, we need to boost revenue. So we really need to use automation, digitisation, even AI and other technology to increase government revenue, and he [Oyedele] is clearly an expert in the tax and fiscal area. That's his training, that's his background, and that's his most recent task that the government has given him. The next step, and it must come quickly and at scale, is to have investment that increases productivity, grows the economy, creates jobs, and gives people income that reduces poverty, and I must emphasise this. That the whole point of the president's Renewed Hope Agenda and action plan is to reduce poverty in the land. #PoliticsToday

Channels Television

50,813 просмотров • 5 месяцев назад

The idea of “taxing the rich” may sound simple, but the reality is more complicated. In my view, when tax rates become too punitive, high earners, entrepreneurs, and investors often have the ability to relocate their capital and sometimes themselves to places with more competitive policies. History has shown this pattern in states and countries around the world. The bigger question is how to encourage innovation, job creation, and long term investment. Entrepreneurs build businesses, take risks, and employ millions of people, and America’s ability to attract talent and capital has long been one of its greatest strengths. If we want to preserve that advantage, we need policies that keep opportunity and investment here rather than pushing them elsewhere.
2:11

The idea of “taxing the rich” may sound simple, but the reality is more complicated. In my view, when tax rates become too punitive, high earners, entrepreneurs, and investors often have the ability to relocate their capital and sometimes themselves to places with more competitive policies. History has shown this pattern in states and countries around the world. The bigger question is how to encourage innovation, job creation, and long term investment. Entrepreneurs build businesses, take risks, and employ millions of people, and America’s ability to attract talent and capital has long been one of its greatest strengths. If we want to preserve that advantage, we need policies that keep opportunity and investment here rather than pushing them elsewhere.

Kevin O'Leary aka Mr. Wonderful

30,810 просмотров • 1 месяц назад

Should the taxpayer still bear the burden of proof in instances where a tax dispute with the Revenue Authority is based in pre-populated & third party data? In my submission before the National Assembly's Finance & Planning Committee on behalf of the Tax Research Centre at Strathmore University, I argue that Finance Bill 2026's proposals seeking to anchor Incomes & Expenses Validation in law will be incomplete if they do not include a proposal for the the Revenue Authority being saddled with the burden of proof in such instances. Here's why: · Finance Bill 2026 proposes to amend Sec75 of the Tax Procedures Act to provide that the Revenue Authority may use technology to pre-populate tax returns on behalf of a person required to submit or lodge a tax return · Finance Bill 2026 further proposes that a person required to submit or lodge a tax return may rely on pre-populated return generated by the Revenue Authority to file their return · Finance Bill 2026 proposes to amend Sec112 to provide that the Cabinet Secretary of the National Treasury may make Regulations for the procedure for the submission or lodging of returns based on pre-populated tax returns generated by the Revenue Authority Here's where the problem is: · In all this, Sec56(1) which provides that "In any proceedings, the burden shall be on the taxpayer to prove that a tax decision is incorrect" remains unchanged · Sec56(1) is predicated on the fact that Kenya has been running on a self-assessment based regime & the data upon which tax disputes emerges was held by the taxpayer · With Incomes & Expenses Validation & the onset of a Dual Assessment regime in Kenya, taxpayers are now exposed not just to errors of judgement & data on their part, but also errors of technology & transmission which are out of their control · Can we really still have the burden of proof lying exclusively with the taxpayer in an environment where tax compliance has shifted from a function of record keeping to one where system integration reliability is now a key factor?
2:19

Should the taxpayer still bear the burden of proof in instances where a tax dispute with the Revenue Authority is based in pre-populated & third party data? In my submission before the National Assembly's Finance & Planning Committee on behalf of the Tax Research Centre at Strathmore University, I argue that Finance Bill 2026's proposals seeking to anchor Incomes & Expenses Validation in law will be incomplete if they do not include a proposal for the the Revenue Authority being saddled with the burden of proof in such instances. Here's why: · Finance Bill 2026 proposes to amend Sec75 of the Tax Procedures Act to provide that the Revenue Authority may use technology to pre-populate tax returns on behalf of a person required to submit or lodge a tax return · Finance Bill 2026 further proposes that a person required to submit or lodge a tax return may rely on pre-populated return generated by the Revenue Authority to file their return · Finance Bill 2026 proposes to amend Sec112 to provide that the Cabinet Secretary of the National Treasury may make Regulations for the procedure for the submission or lodging of returns based on pre-populated tax returns generated by the Revenue Authority Here's where the problem is: · In all this, Sec56(1) which provides that "In any proceedings, the burden shall be on the taxpayer to prove that a tax decision is incorrect" remains unchanged · Sec56(1) is predicated on the fact that Kenya has been running on a self-assessment based regime & the data upon which tax disputes emerges was held by the taxpayer · With Incomes & Expenses Validation & the onset of a Dual Assessment regime in Kenya, taxpayers are now exposed not just to errors of judgement & data on their part, but also errors of technology & transmission which are out of their control · Can we really still have the burden of proof lying exclusively with the taxpayer in an environment where tax compliance has shifted from a function of record keeping to one where system integration reliability is now a key factor?

Julians Amboko

304,328 просмотров • 2 месяцев назад

Victoria Derbyshire, "You want to spend a lot of public services and welfare, is the wealth tax a panacea, is that fair?" Zack Polanski, "I don't present it as a panacea. It's not close to a panacea, it's just the start of the things we need to do" "We need to bring Capital Gains Tax in line with Income Tax" "Right now, if you're a cleaner, you could be paying more than than the person who owns the building you're working in" "We need to tax unearned wealth as much as we tax earned income" Victoria Derbyshire, "When you look at other countries around Europe who spend more on public services and have better public services as a result, they tend to tax the income of everyone, including lower and middle income earners. Maybe you have to say to people we all have to pay for this" Zack Polanski, "It's right that we start our focus on the super wealthy. Once we start to move to a better footing as a society where we have better infrastructure and services, it is legitimate to say paying tax is patriotic" "We should be proud of contributing to this country. making sure we have an NHS that works. Public transport that works" "Yes, everyone will have to pay for that, but ultimately this is about where is the biggest burden, and that should be on the people with the broadest shoulders"
1:17

Victoria Derbyshire, "You want to spend a lot of public services and welfare, is the wealth tax a panacea, is that fair?" Zack Polanski, "I don't present it as a panacea. It's not close to a panacea, it's just the start of the things we need to do" "We need to bring Capital Gains Tax in line with Income Tax" "Right now, if you're a cleaner, you could be paying more than than the person who owns the building you're working in" "We need to tax unearned wealth as much as we tax earned income" Victoria Derbyshire, "When you look at other countries around Europe who spend more on public services and have better public services as a result, they tend to tax the income of everyone, including lower and middle income earners. Maybe you have to say to people we all have to pay for this" Zack Polanski, "It's right that we start our focus on the super wealthy. Once we start to move to a better footing as a society where we have better infrastructure and services, it is legitimate to say paying tax is patriotic" "We should be proud of contributing to this country. making sure we have an NHS that works. Public transport that works" "Yes, everyone will have to pay for that, but ultimately this is about where is the biggest burden, and that should be on the people with the broadest shoulders"

Farrukh

80,309 просмотров • 9 месяцев назад

"Frost estimates the state is on track to lose up to $750 million in tax revenue over the next two decades, assuming a 3% annual growth rate for Starbucks in Tennessee." We now have a tangible number of how much tax money we will be losing, due to Progressives and Socialists chasing Starbucks out of Washington state. And that number doesn't even take into account how much Starbucks employees contribute to the local economy. Hana Kim | FOX 13 Seattle 'With Starbucks expanding in TN, hundreds of millions in tax revenue for WA could evaporate' Article:
2:56

"Frost estimates the state is on track to lose up to $750 million in tax revenue over the next two decades, assuming a 3% annual growth rate for Starbucks in Tennessee." We now have a tangible number of how much tax money we will be losing, due to Progressives and Socialists chasing Starbucks out of Washington state. And that number doesn't even take into account how much Starbucks employees contribute to the local economy. Hana Kim | FOX 13 Seattle 'With Starbucks expanding in TN, hundreds of millions in tax revenue for WA could evaporate' Article:

Future 42

33,960 просмотров • 3 месяцев назад

JEFF BEZOS SAYS: "WE DON'T HAVE A REVENUE PROBLEM IN THIS COUNTRY. WE HAVE A SPENDING PROBLEM." "A nurse in Queens who makes $75,000 a year pays more than $12,000 a year in taxes." His suggestion: "How about we start by having the nurse in Queens not pay taxes at all? We shouldn't be asking this nurse in Queens to send money to Washington. They should be sending her an apology." The math behind it: "The bottom half of income earners in this country pay only 3% of the taxes." He added the US already has "the most progressive tax system in the world. The top 1% of taxpayers pay 40% of all the tax revenue."
6:10

JEFF BEZOS SAYS: "WE DON'T HAVE A REVENUE PROBLEM IN THIS COUNTRY. WE HAVE A SPENDING PROBLEM." "A nurse in Queens who makes $75,000 a year pays more than $12,000 a year in taxes." His suggestion: "How about we start by having the nurse in Queens not pay taxes at all? We shouldn't be asking this nurse in Queens to send money to Washington. They should be sending her an apology." The math behind it: "The bottom half of income earners in this country pay only 3% of the taxes." He added the US already has "the most progressive tax system in the world. The top 1% of taxpayers pay 40% of all the tax revenue."

WOLF

346,205 просмотров • 2 месяцев назад

RIP Illinois taxpayers 🚨 Illinois taxpayer REJECTED a progressive income tax, Democrat leaders are MOVING AHEAD with creating a constitutional amendment anyway Deputy Leader Norine Hammond says despite “the election results which saw that Illinois voters soundly rejected the progressive income tax, Democrats have once again introduced a constitutional amendment for a progressive income tax. Yesterday, it was reported that progressive Democrats are just beginning their campaign for a graduated income tax hike. And this week, the Illinois Revenue Alliance, AKA the Tax and Spend alliance, presented a list of tax hikes that would raise taxes by $6 billion. And that does not include the graduated income tax hike, $6 billion in new taxes to pay for taxpayer funded health care benefits for illegal immigrants, more pork projects for Democrats, and more of their wasteful spending on programs. These tax hikes would further damage our economy and drive up the tax burden and the cost of living for Illinois families.”
1:05

RIP Illinois taxpayers 🚨 Illinois taxpayer REJECTED a progressive income tax, Democrat leaders are MOVING AHEAD with creating a constitutional amendment anyway Deputy Leader Norine Hammond says despite “the election results which saw that Illinois voters soundly rejected the progressive income tax, Democrats have once again introduced a constitutional amendment for a progressive income tax. Yesterday, it was reported that progressive Democrats are just beginning their campaign for a graduated income tax hike. And this week, the Illinois Revenue Alliance, AKA the Tax and Spend alliance, presented a list of tax hikes that would raise taxes by $6 billion. And that does not include the graduated income tax hike, $6 billion in new taxes to pay for taxpayer funded health care benefits for illegal immigrants, more pork projects for Democrats, and more of their wasteful spending on programs. These tax hikes would further damage our economy and drive up the tax burden and the cost of living for Illinois families.”

Wall Street Apes

192,094 просмотров • 1 год назад

A 1974 bar napkin still PWNS the tax debate, and the high tax establishment has never stopped trying to bury it. Arthur Laffer sat down with Dick Cheney and Donald Rumsfeld in September 1974 and told them Ford’s plan to raise taxes 5% against stagflation would shrink the pie. He grabbed a napkin and sketched the curve. 0% tax delivers zero revenue and 100% tax also delivers zero revenue because nobody works for free. The peak sits in between, and once you cross it every higher rate destroys more taxable activity than it captures. That drawing became the backbone of the Reagan cuts whereby the top marginal rate fell from 70% to 28% and federal tax receipts still climbed from $517 billion in 1980 to $991 billion by 1989 while the economy expanded. Lower tax rates led to HIGHER tax revenue. (Btw, if you ever find it at the Smithsonian, the napkin version there is a later redraw Laffer made as a keepsake)
0:30

A 1974 bar napkin still PWNS the tax debate, and the high tax establishment has never stopped trying to bury it. Arthur Laffer sat down with Dick Cheney and Donald Rumsfeld in September 1974 and told them Ford’s plan to raise taxes 5% against stagflation would shrink the pie. He grabbed a napkin and sketched the curve. 0% tax delivers zero revenue and 100% tax also delivers zero revenue because nobody works for free. The peak sits in between, and once you cross it every higher rate destroys more taxable activity than it captures. That drawing became the backbone of the Reagan cuts whereby the top marginal rate fell from 70% to 28% and federal tax receipts still climbed from $517 billion in 1980 to $991 billion by 1989 while the economy expanded. Lower tax rates led to HIGHER tax revenue. (Btw, if you ever find it at the Smithsonian, the napkin version there is a later redraw Laffer made as a keepsake)

Rothmus 🏴

27,212 просмотров • 21 дней назад

#WATCH | Chandigarh: On GST collection, Punjab Finance Minister Harpal Singh Cheema says, "GST was implemented nationwide in 2017 under the 'One Nation, One Tax' principle. For the past five years, from 2017 to 2022, the Congress party was in power, and in those five years, they collected Rs 112,000 crore in revenue. But our government, in just three and a half years, has already collected over Rs 116,000 crore in revenue. This means our annual revenue has never fallen below 11%. We are consistently growing at a rate of over 11%, while at the national level, the growth rate is 7%. Since our AAP government came to power in Punjab in 2022, we have worked with complete honesty. We established a Tax Intelligence Unit. We collaborated with IIT Hyderabad, purchased nine modules from them, and implemented them in the department. We did many things in the department, which led to an increase in our GST revenue. We introduced a new scheme, "Bring the Bill, Get a Reward," to encourage people to get and keep their bills. If we talk about excise, our revenue has been consistently increasing by over 10% for the last three years..."
2:33

#WATCH | Chandigarh: On GST collection, Punjab Finance Minister Harpal Singh Cheema says, "GST was implemented nationwide in 2017 under the 'One Nation, One Tax' principle. For the past five years, from 2017 to 2022, the Congress party was in power, and in those five years, they collected Rs 112,000 crore in revenue. But our government, in just three and a half years, has already collected over Rs 116,000 crore in revenue. This means our annual revenue has never fallen below 11%. We are consistently growing at a rate of over 11%, while at the national level, the growth rate is 7%. Since our AAP government came to power in Punjab in 2022, we have worked with complete honesty. We established a Tax Intelligence Unit. We collaborated with IIT Hyderabad, purchased nine modules from them, and implemented them in the department. We did many things in the department, which led to an increase in our GST revenue. We introduced a new scheme, "Bring the Bill, Get a Reward," to encourage people to get and keep their bills. If we talk about excise, our revenue has been consistently increasing by over 10% for the last three years..."

ANI

29,511 просмотров • 7 месяцев назад

Surprising how many times I have to defend the idea of a wealth tax and the fact that I’m a ‘very rich’ person asking for it. It’s not a contradiction - Patriotic Millionaires is a group of people who feel exactly this way, we care about our country and we can see the inequality baked into our tax system. We want it changed.
0:54

Surprising how many times I have to defend the idea of a wealth tax and the fact that I’m a ‘very rich’ person asking for it. It’s not a contradiction - Patriotic Millionaires is a group of people who feel exactly this way, we care about our country and we can see the inequality baked into our tax system. We want it changed.

Dale Vince

40,725 просмотров • 11 месяцев назад

Full context behind why patriots ended up confiscated this stubborn Nigerians stock. We will defend the Republic and her citizens at all costs. Victoria Africa and the Patriotic Alliance team are collecting revenue on behalf of the city. We want businesses that will pay tax, employ citizens, build infrastructure and contribute to the growth of our economy. A world class city is loading, a smart city. #WeWantOurCountryBack 🇿🇦
7:34

Full context behind why patriots ended up confiscated this stubborn Nigerians stock. We will defend the Republic and her citizens at all costs. Victoria Africa and the Patriotic Alliance team are collecting revenue on behalf of the city. We want businesses that will pay tax, employ citizens, build infrastructure and contribute to the growth of our economy. A world class city is loading, a smart city. #WeWantOurCountryBack 🇿🇦

🇿🇦Make Azania Great Again 🇿🇦

27,610 просмотров • 4 месяцев назад

Another new tax is being proposed by the City of San Diego. This time the City is considering an annual $5K per bedroom tax on Airbnbs in addition to the 11.75-13.75% tax on revenue they already pay. The $5K per bedroom tax would also apply to second homes. Proponents say Airbnbs reduce longterm rental availability and drive up housing costs. However, the same Councilmember that is supporting this new tax, voted in 2022 for the existing regulatory structure that allows 1% of the housing stock to be rented on a short-term basis. Today, just 0.85% of housing stock in the City of San Diego are short-term rentals which is less than the current cap. If policymakers really wanted to force Airbnbs to convert to longterm rentals, they could simply amend the existing ordinance and lower the allowed cap on Airbnbs. By passing a new tax, instead of amending their current ordinance, this proposal seems less like a play for more housing and more like another money grab to bail out a city struggling to balance its budget.
1:56

Another new tax is being proposed by the City of San Diego. This time the City is considering an annual $5K per bedroom tax on Airbnbs in addition to the 11.75-13.75% tax on revenue they already pay. The $5K per bedroom tax would also apply to second homes. Proponents say Airbnbs reduce longterm rental availability and drive up housing costs. However, the same Councilmember that is supporting this new tax, voted in 2022 for the existing regulatory structure that allows 1% of the housing stock to be rented on a short-term basis. Today, just 0.85% of housing stock in the City of San Diego are short-term rentals which is less than the current cap. If policymakers really wanted to force Airbnbs to convert to longterm rentals, they could simply amend the existing ordinance and lower the allowed cap on Airbnbs. By passing a new tax, instead of amending their current ordinance, this proposal seems less like a play for more housing and more like another money grab to bail out a city struggling to balance its budget.

Richard Bailey

16,012 просмотров • 9 месяцев назад

Confirmed the new California mileage tax advanced by Democrats does not opt gas vehicle drivers out of the existing gas taxes Drivers will pay the highest gas taxes in the nation at the pump AND the new mileage tax California Lawmaker “It's coming. The gas tax revenues have decreased, we don't have money for our roads, so now we're going to tax Californians for every mile they drive, regardless if you drive a gas vehicle or an EV. And if you drive a gas vehicle, you might get double taxed with the highest gas tax rate in the nation, as well as a per mile tax”
0:29

Confirmed the new California mileage tax advanced by Democrats does not opt gas vehicle drivers out of the existing gas taxes Drivers will pay the highest gas taxes in the nation at the pump AND the new mileage tax California Lawmaker “It's coming. The gas tax revenues have decreased, we don't have money for our roads, so now we're going to tax Californians for every mile they drive, regardless if you drive a gas vehicle or an EV. And if you drive a gas vehicle, you might get double taxed with the highest gas tax rate in the nation, as well as a per mile tax”

Wall Street Apes

582,469 просмотров • 6 месяцев назад