Australian Taxation Office

Individuals lucky enough to come across a $1,000 bill need to hang on to this money, as circulation of these bills has been halted in an effort to fight against organized crime. The United States Department of the Treasury ceased printing these bills, and any bill larger than $100, in 1945. As a result, only those bills created during the 1934 series remain in existence. Although President Richard Nixon did remove the bills from circulation, they are still considered legal tender and may be used…

Wooden Nickels: The Theory of Trickle-Down Economics The theory of trickle-down economics was first coined during the Reagan administration. The theory asserts that tax breaks for large businesses and the wealthiest Americans subsequently benefit all Americans with an increase in the standard of living, job creation, increased wages and an improved economy. Trickle-down economics assumes that large corporations and the wealthiest Americans are the sole drivers of economic growth; their tax…

Constitution of 1869 statewide taxes were collected in one spot, compared to the Constitution of 1876 where the taxes were collected in local districts. The Constitution of 1869 was more complex and more controlled by the legislative body of government. The taxation and revenue section of the constitution came in Article VIII. Out of the eighteen sections pertaining taxes. I chose four of those which point out the goals that were previously discussed. Article VIII section 1 starts with the…

Worstall, Tim. "If Apple Brought IPhone Manufacturing To The US It Would Cost Them $4.2 Billion." Forbes. Forbes Magazine, 25 Sept. 2013. Web. 13 May 2017. This is also a quite reliable source. Tim Worstall essentially intends to express that Apple isn’t going to transfer back their manufacturing jobs because of the high corporate tax in the US and the high costs of labor. Tim Worstall is a British-born writer who writes on environmentalism and economics, specifically the corporate tax, his…

Lowering the Voting Age Does the legal age for voting at 18 really matter? This has been an ongoing topic for a long time but especially during these last few years. Politicians go back and forth trying to figure out what is best for the United States of America. Although many argue the topic there is many reasons why sixteen year olds should be allowed vote. In our country today, the government is letting teens drive and that is basically a pathway to death for them and everybody else on the…

i. What are the exceptions to the revenue diversion prohibition: There are five exceptions to the prohibition – two grandfather exceptions and three special purpose exceptions. They are described below. (1) Airport Revenue Grandfather Exception: A Sponsor may use airport revenue for general purposes to the extent that covenants or assurances in debt obligations or governing statutes controlling the Sponsor’s financing that were in effect prior to September 3, 1982 provide for the use of…

In “Income Inequality and Happiness” (2011), the authors Shigehiro Oishi, Selin Kesebir, and Ed Diener explain the relationship between the hapiness and national income inequality for Americans. According to Shigehiro, Selin, and Ed (“Income Inequality and Happiness”, 2011, p.1096-p.1097), they use the result of the “General Social Survey” to present there is a negative correlation between income gap and blessedness for Americans. Specifically, Americans will be happier when it comes to equality…

The cost of the H.R. 1586 proposal is one that is impactful through monetary means. Due to the requirements of the bill, the government will need to increase the taxes levied on the public in order to properly fund the agencies to complete the tasks demanded in the bill. Even though these new taxes levied on the public, will be used to better educate, protect and serve the American citizens, it is unlikely that the American citizens’, themselves, see the newly imposed of tax liens as such.…

It’s tax season and the main focus is getting everyone to do their taxes. Some places have what you call tax incentives, now the question is, do tax incentives really work? Tax incentives are exemptions to general assessment rules intended to accomplish a financial objective by urging individuals or organizations to accomplish something that they generally would not have done. More specifically, these narrowly targeted tax breaks are usually offered in an attempt to convince businesses to…

The budget presentation for the Lieutenant Governor’s Office was headed by Ryan Cherry, Lieutenant Governor Hutchinson's Chief of Staff. The budget proposal for the Office of the Lieutenant Governor is $1.18 million (biennium) which includes, but not limited to: five full time employees, operational costs, fiscal and personnel functions. Michael J. Willden, the governor's chief of staff, represented the governor's office for the purposes of this budget hearing. Governor Sandoval is…