Federal tax rates on higher incomes were raised at the start of the year. Meanwhile, the Internal Revenue Service has increased its audits of wealthy taxpayers and is pressing small-business owners over unreported income. And tax collectors are pursuing would-be tax dodgers who hold Swiss and other offshore investment accounts.
Hong Kong is dead. Economic roadkill on China’s way to world domination. Starting this weekend, a free-trade zone opening in Shanghai will supplant the former British colony as the gateway to the world’s most dynamic economy.
Americans are egalitarian. This trait has long frustrated plutocrats who, more than a century ago, invented Social Darwinism to teach that the rich prospered because they were smart and productive. Few people believed this, not then and not now.
OAO Gazprom, Russia’s natural gas exporter, plans to sign contracts for at least 80 percent of the liquefied natural gas from its Vladivostok plant by mid-2014 before supplies from rival producers come to market.
U.S. lawmakers this week demanded answers about Washington Navy Yard shooter Aaron Alexis’s security clearance -- just as they did after Edward Snowden’s leaks of national surveillance programs were revealed in June.
Ronald Coase, the British-born University of Chicago economist whose Nobel Prize-winning work on the role of corporations stemmed from visits in the early 1930s to American companies including Ford Motor Co. and Union Carbide, has died. He was 102.