Taxation and public revenue

Sterling plunges to new low as tax cuts spark concern

Sterling plunges to new low as tax cuts spark concern

LONDON — The pound fell to an all-time low against the US dollar early on Monday after Treasury chief Kwasi Kwarteng promised a sweeping package of tax cuts, stoking concerns over the government’s economic policy as the UK teeters towards recession. The pound fell as low as $1.0373, its lowest level since the currency’s decimalisation …

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Patagonia's bold move to donate entire company to fight climate change only works if it stays competitive in business, says CEO

Patagonia’s bold move to donate entire company to fight climate change only works if it stays competitive in business, says CEO

A Patagonia store signage is seen on Greene Street on September 14, 2022 in New York City. Yvon Chouinard, founder of Patagonia, his wife and two adult children have announced that they will cede ownership of their company worth approximately $3 billion. The company’s private shares will now be owned by a climate-focused trust and …

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Here's how persistently high inflation could affect your tax bracket next year

Here’s how persistently high inflation could affect your tax bracket next year

Jamie Grill | Getty Images As Americans grapple with soaring prices, experts say it’s likely we’ll see higher-than-usual inflation adjustments from the IRS for 2023 – covering tax brackets, 401(k) plan contribution limits and more. Embedded in the tax code, these annual IRS changes aim to prevent what’s known as “bracket creep,” when inflation drives …

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