Sep 6, 2017

How tax rates have changed since the 1940s

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French authorities can now comb social media to find tax cheats

Illustration: Rebecca Zisser/Axios Visuals

French authorities have three years to test a new law allowing them to comb social media posts and find evidence of tax fraud or evasion, Bloomberg Tax reports.

Catch up quick: All personal data mined under the law must be public by the user and not password protected, per Bloomberg, and authorities cannot look for evidence that taxpayers have been warned for not filing a tax return.

Go deeperArrowDec 28, 2019

Company tax incentives don't spur economic growth

Illustration: Sarah Grillo/Axios

More than two years after Amazon announced its search for a second headquarters and cities around the U.S. bent over backwards to offer the megacompany as much free cash and incentives as they could, new research confirms what economists have been saying for years: Such programs are a waste of money.

Driving the news: A paper from researchers at Princeton and Columbia Business School found "no evidence" that business tax incentives given to individual companies increased broader economic growth at the state and local level.

Go deeperArrowJan 7, 2020

New York City's mansion tax impacts housing cost

Manhattan sunset, seen in September from Arthur Ashe Stadium in Queens, home of the U.S. Open. Photo: TPN/Getty Images

The average price of a Manhattan co-op or condo fell to $1.8 million in the fourth quarter of 2019, according to Douglass Elliman, the largest real estate brokerage in the New York City area, the Financial Times reports.

Why it matters: "The Manhattan property drop is in sharp contrast to the rally on Wall Street, where stock markets have hit new records."

Go deeperArrowJan 4, 2020