The United Kingdom will institute an additional 50% tax on any bonuses above 25,000 British pounds this year. The tax is intended to recoup taxpayer support to help the banks when they were failing earlier this year, BBC News. Bankers say the tax may make them consider leaving London, Bloomberg.
A split has emerged between smaller, developing countries and larger, developed countries at the Copenhagen climate change summit. Small island nations and poor countries in Africa are likely to be most affected by climate change and want stringent legal measures added to the agreement, BBC News. China is the world’s biggest emitter of greenhouse gases, but grassroots movements are trying to green the country, al Jazeera. Climate change is growing China’s Gobi desert, al Jazeera.The first decade of the 21st century, 2000-2009, was the hottest decade in recorded history, ABC News.
A tentative agreement in the U.S. Senate would drop a government-run healthcare plan from the Senate’s version of the healthcare reform bill and instead expand Medicare coverage, the government’s healthcare program for the elderly, to those over 55. The bill still needs to be reconciled with the healthcare bill from the U.S. House of Representatives and then signed by President Barack Obama, Wall Street Journal.
58 people are dead after security forces fired on protesters in the African nation of Guinea today. They were protesting the current military government (which took power last December) and the expected announcement that the military leader currently in charge, Moussa Dadis Camara, will run in national elections in January 2010. Leaders of the opposition were also arrested at the rally, Al Jazeera.
China is preparing a massive celebration for October 1, the 60th anniversary of the founding of the People’s Republic of China. Photo gallery of the preparations, CNN. A CNN reporter, Emily Chang, was granted permission to interview members of the Communist Youth League in advance of the anniversary, CNN International. Tour of Mao’s hometown, CNN Asia.
The Oxfam international aid agency has issued an emergency call for aid to Ethiopia and other East African countries. The area is experiencing the worst drought in 10 years, BBC News.
A new study says that most corporations aren’t paying taxes in the United States:
The Government Accountability Office said 72 percent of all foreign corporations and about 57 percent of U.S. companies doing business in the United States paid no federal income taxes for at least one year between 1998 and 2000.
Senators Byron Dorgan and Carl Levin requested the study so that the U.S. government can work to plug holes in the tax code, Reuters. The process companies use to avoid paying taxes is illustrated in the 2007 film Michael Clayton, IMDB.
The publication date of the memoirs of former Alaska Governor Sarah Palin has been moved up from next spring to November 17 of this year. The book will be called “Going Rogue,” Associated Press.
Today, on the U.S. tax deadline, right-wing protesters have organized tea parties to protest the Obama administration’s wish to raise taxes on those who make over $250,000 a year. Fox News is sending 4 of their anchors to tea parties in different cities, including Atlanta, where your editor will be only 60 miles from Sean Hannity (blergh). Here’s the AJC’s article on today’s events.
Leading liberals have commented on the right’s movement of sending tea bags to politicians, including President Obama, and have hilariously labeled them “teabaggers,” but I don’t think most Republicans understand why that’s so funny (this is why Urban Dictionary was created). Continue reading