Generating revenue that can sustainably fund the capex needed in these areas calls for structural reforms. The Constitution defines the functions that municipal corporations must undertake to reinforce local self-governance; but it does not establish an accountable decentralised system that creates capacity at the local level. This is evident in the BMC’s dependency on the state government for its revenues. Thirty-five percent of the BMC’s revenue income comes from the state government as compensation for octroi, which was abolished in 2017 and replaced by the Goods and Services Tax (GST) from the central government. … [Read more...] about How can the BMC help Mumbai recover?
Irs tax forms 8606
And the factors that we use to determine net worth are pretty simple. Your home is your most important asset for most middle-class people. African-Americans are way behind white Americans in homeownership. Income, i.e. salaries, are the next factor in wealth. African-Americans fall behind white Americans significantly in income, savings, investments in stocks and bonds, money to put your kids in school. When you take all these factors, you come up with the fact that the disparity of wealth is something that you need to close. So in order to close that -- to bring 40 million African-Americans, up to $350,000 of wealth. Well, you multiply that number -- $350,000 – times 40 million African-American descendants of slaves. You come out with $14 trillion. That money would be paid out over 30 years. … [Read more...] about Robert Johnson’s Big Idea: $14 trillion in slavery reparations to African-Americans
But while it will keep us out of abject poverty, relying on National Superannuation alone risks leaving an increasing number with too little to live on. And many already know that National Superannuation won’t provide enough money for a dignified retirement. That’s why they have KiwiSaver. … [Read more...] about Is KiwiSaver punishing the poor?
But what we now see clearly in hindsight about these charges was far from evident at the time. During the Obama administration, Republican complaints about deficits, “crony capitalism,” and the sluggish recovery were hardly just boob bait for the Fox News audience. These criticisms were taken seriously by members of both parties and formed the basis for a consistent undertow of bipartisan disapproval, especially among business and media elites. Why didn’t Obama get Republicans to make a deal on the deficit? they demanded. The self-styled sensible center could not stop giving Obama a share of blame for the extremism of the opposition. … [Read more...] about Trump Hasn’t Destroyed Obama’s Legacy. He’s Revealed How Impressive It Was.
Mumbai: The Securities and Exchange Board of India has signed a memorandum of understanding(MoU) with Central Board of Direct Taxes( CBDT) on Wednesday for data sharing on automatic and regular basis. Lawyers said the move is aimed at enhancing the tax department's scrutiny of stock market transactions that are aimed at evading taxes. “The MoU will ensure that both CBDT and SEBI have seamless linkage for data exchange. In addition to regular exchange of data, CBDT and SEBI will also exchange with each other, on request and suo moto basis, any information available in their respective databases, for the purpose of carrying out scrutiny, inspection, investigation and prosecution,” Sebi said in a statement. The regulator said a data exchange steering group has been formed for the initiative, which will meet periodically to review the data exchange status and take steps to further improve the effectiveness of the data sharing mechanism. "Sebi and IT Dept has been cooperating … [Read more...] about Sebi, CBDT MoU aimed at enhancing market transaction scrutiny: Lawyers