Indonesia is seeking to plug an unusually deep revenue shortfall before year-end by scrutinizing wealthy individuals and big businesses for extra tax payments. https://t.co/E24CvJiqva ...

Tax Policy & Reform - The discussion revolves around potential tax reforms, specifically addressing loopholes that allow the wealthy to avoid taxes, such as the death tax (estate tax) [1][2] - Closing tax loopholes for the ultra-wealthy could significantly contribute to funding the government, addressing national debt, and maintaining entitlements [1] - The current tax code allows some wealthy individuals to avoid paying taxes by living off loans, which are secured by their assets [5][6] - There's a sentiment that the tax system is rigged, leading to distrust in government and a feeling of unfairness, especially among younger generations [9][11][13] - Past efforts to reform the tax code and address entitlement issues have failed due to political gridlock and resistance from various constituencies [1][13] Wealth & Income Disparity - The disparity in wealth and the perception that the ultra-rich are not paying their fair share of taxes fuels anti-capitalist sentiment [8] - Examples like Jeff Bezos taking a $4,000 child tax credit when worth $18 billion highlight the perceived unfairness of the tax code [3] - The wealthy can avoid taxes by not selling stock and living off loans, effectively being subsidized by those with W2 income [5][7] Political Landscape - Republicans have historically been resistant to raising new revenue through taxes [1] - There is little appetite in Congress to adjust taxes, with past attempts to close loopholes being easily squashed [1] - The government's priorities, such as raising taxes on university endowments, may not align with public sentiment [13]

Tax Obligations - Companies controlled by Ricardo Salinas Pliego will face a multibillion-dollar tax bill in January [1] - The companies must pay the tax bill or face consequences [1] Government Stance - Mexico's President Claudia Sheinbaum stated the companies must pay the tax [1]

British businesses enjoyed the sharpest pick-up in new work in more than a year, according to a survey that suggests firms were buoyed by an end to months of speculation around tax hikes in the budget https://t.co/FOpy0PINOF ...

Investment Strategy - Understanding the difference between long- and short-term capital gains ensures that the benefits of your investment portfolio outweigh the tax costs [1]

Tax Planning - Year-end tax moves are crucial for 2025 to minimize tax liabilities [1] - Individuals should be proactive in planning their tax strategies before the year concludes [1]

Budget Conflict - Chicago is facing its most intense budget battle in decades [1] - A key point of contention among Democrats is the mayor's proposal for a $33 per employee monthly "head tax" on large businesses [1]

Tax & Security - Recommends reading the full article for security and tax tips before gifting [1]

Taxation & Demographics - In Britain, birth year significantly impacts tax burden, potentially as much as income [1] - Those burdened by substantial academic debt may face the highest tax burden [1]

Government Policy & Regulation - Fuel economy standards implemented by the Obama administration had the unintended consequence of encouraging the production of larger vehicles [1] - The current political system employs complex methods instead of a simple tax per liter of fuel to account for environmental costs [1] - Policy should clearly communicate what consumers/the market should optimize for and its importance, rather than dictating how to optimize [1] Market Trends & Consumer Behavior - Sedans have become less popular, with a shift towards larger vehicles [1] - The three largest US automakers offer 62 vehicles for sale [2]