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Tag Archives: UK

IRS comes after potential future UK Prime Minister for sale of house in England

The IRS has gone after Boris Johnson, current London mayor and potentially the next prime minister of the United Kingdom, because Mr. Johnson sold his house for a profit and because Mr. Johnson holds a US passport. He was born in the US (he left when he was 5) so naturally the Internal Revenue Service feels that by virtue of this it is owed some of Johnson’s money. Under the law as it stands the IRS has a case, if an immoral one. Johnson has however told the IRS to take a hike. As he should.

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The Man Behind the Hong Kong Miracle

Technically Hong Kong is now part of communist China, yet today it is perhaps the freest and one of the wealthiest places on Earth. One man, Sir John James Cowperthwaite, had everything to do with this.

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Pfizer to leave the US because of high tax rates, Makes a huge part of its money from tax funded government programs

The big pharmaceutical companies have done very well in the crony department over the last decade. Medicare Part D was a giant gift to pharma, then the “donut hole” fill of Part D in 2010 meant even more money for the drug companies. Big Pharma in many respects is a government contractor. A quarter of its revenue comes from Medicare, Medicaid, and various other government programs. But now one of the giants is leaving for England lured by lower tax rates.

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