Taxes
In OneZero. More on Medium.
Loopholes in lending laws are allowing cryptocurrency users to escape taxes — and the government can’t keep up
Wealthy families and merchants first conjured up the idea of offshore banking in 19th century Europe, seeking a place to store funds away from tax-hungry governments in the aftermath of the Napoleonic wars. Since then, it’s been a race to the bottom. Over the course of the last two centuries, deregulation and lenient financial laws have allowed the rich to tread the fine line between legal tax avoidance and illegal tax evasion.
But blockchain, which first emerged as a concept in 2008, is now offering ordinary people the same possibilities. …
Lasting controversy over the company’s controversial HQ2 race is changing attitudes — and regulation — around tax giveaways
Ron Kim was in complete shock. It was November 2018, and the assemblyman had just heard details of the deal which would give Amazon more than $2 billion in taxpayer-funded subsidies to locate part of its second headquarters in Long Island City, Queens. A Democratic member of the New York State Assembly, Kim felt that giving taxpayer money to this trillion-dollar supergiant was “unfitting,” to say the least.
By inviting open bids in the search for a location for HQ2, Amazon ignited a year-long frenzy in which American cities fell over themselves to offer enormous tax breaks. In the process…
