(Reuters) - Amazon.com Inc Chief Executive Jeff Bezos on Thursday challenged retailers to hike their minimum wages to $16 an hour, prompting a comeback from Walmart Inc which asked its rivals to pay taxes. “Today I challenge our top retail competitors (you know who you are!) to match our employee benefits and our $15 minimum wage,” the billionaire entrepreneur said in a letter to shareholders. “Do it! Better yet, go to $16 and throw the gauntlet back at us.” The online retailer raised its minimum wage to $15 per hour for U.S. employees from November, giving in to critics of poor pay and working conditions at the company. Some critics have said the hike was insufficient and note that Amazon paid zero U.S. federal income tax on more than $11 billion in profits before taxes in 2018, and received a $129 million tax rebate from the federal government. Walmart’s executive vice president of corporate affairs, Dan Bartlett, responded to Bezos by tweeting, … [Read more...] about Walmart responds to Bezos with tweet asking Amazon to pay taxes
Who pay taxes
Embattled lawyer Michael Avenatti evaded paying taxes for over a decade while simultaneously living the high-life and splashing money on expensive cars, jewelry, and luxury apartments, IRS records reveal. Avenatti, who once represented adult-film star Stormy Daniels before she dropped him, is currently facing almost 100 years in prison stemming from charges in two separate cases. Federal prosecutors in New York accused the hotshot lawyer on Monday of operating “an old-fashioned shakedown” after trying to extort about $25 million from sports apparel giant Nike “by threatening to use his ability to garner publicity to inflict substantial financial and reputational harm on the company if his demands were not met.” In California, He was also charged with wire fraud and bank fraud, following a lengthy investigation by the authorities. MICHAEL AVENATTI'S LATEST ACCUSATIONS OF EXTORTING NIKE MARK END OF HIS SHOT AT REDEMPTION AFTER SPECTACULAR FALL FROM GRACE … [Read more...] about Michael Avenatti lived luxury life while avoiding paying taxes for a decade, says federal tax authorities
March 28 (UPI) -- It's tax season. Americans will pay an average of $10,489 in personal taxes -- about 14 percent of the average household's total income. Most will do so because they think it is their civic duty. Many believe they are morally obliged to obey the law and pay their share. But as tax day approaches, many Americans will bemoan their tax bill and complain that it is unfair. So, how are we to know if paying taxes is the right thing to do? Perhaps philosophy has some clues? RELATED Tax on sugary drinks recommended by health organizations Reasons to obey the law Many philosophers agree that we should obey the law. In his book, The Crito, Plato, for example, describes Socrates' choice after the Athenian jury sentenced him to death for impiety. Crito, a wealthy friend of Socrates', arranges for him to escape from the prison a night before his execution. Socrates refuses, saying he ought to obey the law. In explaining his decision, Socrates hinted at roughly three reasons why … [Read more...] about Do you have a moral duty to pay taxes?
Cat Marnell. Photo: by Ben Ritter; Photo-Illustration by: Stevie Remsberg Get That Money is an exploration of the many ways we think about our finances — what we earn, what we have, and what we want. As part of the series, we’re interviewing women about how they feel about their bank balances. In June 2017, Cat Marnell packed all her belongings into storage and flew to Europe to travel “indefinitely.” She’d finished promoting her first book, How to Murder Your Life, a memoir about running around in downtown clubs and working in fashion magazines while on prescription pills (and more), and she needed to escape for a while. She’d also blown through most of her book advance (rumored to be in the healthy six figures, although she declines to specify) and wanted to live more simply. Since then, she’s been to more than 60 countries, by her estimation, and is finally ready to get back to work. Her next project is an audio version of her travel … [Read more...] about Cat Marnell Pays Taxes Now
MARTIN COUNTY — A psychiatrist who lives in Hobe Sound is accused of fraud and failing to pay taxes on $1.6 million in income. Dr. Arthur Kranz pleaded guilty to tax evasion, wire fraud and Social Security disability fraud on Tuesday, according to the Department of Justice's Tax Division. According to the department, Kranz made a claim on his personal disability policy saying he was unable to work in 2002 and started to receive payments. In December 2003, Kranz applied for disability benefits with the Social Security Administration, which was approved. From January 2006 to March 2013, Kranz worked as a psychiatrist in Pennsylvania and earned over $1.6 million in income. He failed to report any of the income. According to the Justice Department, Kranz did not tell his personal insurance company or the Social Security Administration he began working again and continued to receive payments. More: Port St. Lucie tax return preparer convicted on fraud … [Read more...] about Hobe Sound man accused of failing to pay taxes on $1.6 million, Social Security fraud