(LONDON) U.K. Parliament Social Care Funding Report: A new health and social care tax will be introduced across the UK to pay for reforms to the care sector and NHS funding in England, the PM has said on Tuesday #AceHealthDesk report

#AceHealthReport – Sept.08: Boris Johnson said it would raise £36bn for frontline services in the next three years and be the “biggest catch-up programme in the NHS’ history”

#AceDailyNews says that Boris Johnson has outlined a new 1.25% health and social care tax to pay for reforms………..He accepted the tax broke a manifesto pledge, but said the “global pandemic was in no one’s manifesto”……………….However, Labour leader Sir Keir Starmer said the plan was a “sticking plaster”.

Carer helping man

The tax will begin as a 1.25% rise in National Insurance (NI) from April 2022 paid by both employers and workers, and will then become a separate tax on earned income from 2023 – calculated in the same way as NI and appearing on an employee’s payslip.

Income from share dividends – earned by those who own shares in companies – will also see a 1.25% tax increase.

The UK-wide tax will be focused on funding health and social care in England, but Scotland, Wales and Northern Ireland will receive an additional £2.2bn to spend on their services. 

PM: Social care must be paid for by taxes, not borrowing

Mr Johnson said the proceeds from these rises would lead to £12bn a year going into catching up on the backlog in the NHS created by Covid, increasing hospital capacity for nine million more appointments, scans and operations.

And he pledged that by 2024/25, there would be the ability to help 30% more elective patients than before the pandemic.

The money will also go towards changes to the social care system, where a cap will be introduced on care costs from October 2023 of £86,000 over a person’s lifetime.

All people with assets worth less than £20,000 will then have their care fully covered by the state, and those who have between £20,000 and £100,000 in assets will see their care costs subsidised.

Mr Johnson insisted that with the new tax “everyone will contribute according to their means”, adding: “You can’t fix the Covid backlogs without giving the NHS the money it needs.”You can’t fix the NHS without fixing social care. you can’t fix social care without removing the fear of losing everything to pay for social care and you can’t fix health and social care without long-term reform. “The plan that this government is setting out… will fix all of those problems together.”But Labour’s Sir Keir said the new tax broke the Conservatives’ pledge at the last election not to raise National Insurance, income tax or VAT. He also said the rise would target young people, supermarket workers and nurses, rather than those with the “broadest shoulders” who should pay more. The Labour leader added: “Read my lips – the Tories can never again claim to be the party of low tax.”The leader of the Liberal Democrats, Sir Ed Davey – who is a carer himself – also said the tax was “unfair”, and said the government’s plan missed out solutions for staffing shortages, care for working age adults and unpaid family carers. Mr Johnson said no Conservative government wanted to raise taxes – but he defended the move as “the right, the reasonable and fair approach” in light of the pandemic, which saw the government spend upwards of £407bn on support. A tax more palatable to voters?Analysis by Peter Saull, BBC politics correspondentUnder Boris Johnson’s plan, your payslip will feature a “Health and Social Care Levy” from 2023 onwards.This is the 1.25% rise in National Insurance rebranded to underline that the money will be ring-fenced for the health and care system.You may well have seen something similar on your council tax bill.Local authorities in England have been able to raise extra money through an “adult social care precept” since 2015. In effect, though, the prime minister is creating a brand new tax.The idea of a specific “NHS and care tax” is something that may well be more palatable to voters.And future occupants of No 10 could struggle to justify getting rid of it.

Editor says …Sterling Publishing & Media Service Agency is not responsible for the content of external site or from any reports, posts or links, and can also be found here on Telegram: https://t.me/acenewsdaily all of our posts from Twitter can be found here: https://acetwitternews.wordpress.com/ and all wordpress and live posts and links here: https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

#london, #nhs, #parliament, #social-care, #tax, #u-k

(WASHINGTON) JUST IN: Details claiming to reveal how little income tax US billionaires pay have been leaked to news website Pro-Publica who claim to have a trove of documents #AceNewsDesk report

#AceNewsReport – June.10: The website alleges Amazon’s Mr Bezos paid no tax in 2007 and 2011, while Tesla’s Mr Musk paid nothing in 2018:

ProPublica Report: Says it has seen the tax returns of some of the world’s richest people, including Jeff Bezos, Elon Musk and Warren Buffett: Rich nations ‘millimetre away’ from tech tax deal

Jeff Bezos, Warren Buffet and Elon Musk
The website says it has seen the tax returns of Jeff Bezos, Warren Buffet and Elon Musk

ProPublica said it was analysing what it called a “vast trove of Internal Revenue Service data” on the taxes of the billionaires, and would release further details over coming weeks.

A White House spokeswoman called the leak “illegal”, and the FBI and tax authorities are investigating. 

While the BBC has not been able to confirm the claims, the alleged leak comes at a time of growing debate about the amount of tax paid by the wealthy and widening inequality.G7 global tax ‘levels the playing field’

ProPublica said the richest 25 Americans pay less in tax – an average of 15.8% of adjusted gross income – than most mainstream US workers.

Jesse Eisinger, senior reporter and editor at ProPublica, told the Today Programme: “We were pretty astonished that you could get [tax] down to zero if you were a multi-billionaire. Actually paying zero in tax really floored us. Ultra-wealthy people can sidestep the system in an entirely legal way.” 

“They have enormous ability to find deductions, find credits and exploit loopholes in the system,” he said. 

So while the value of their wealth grows enormously through their ownership of shares in their company, that’s not recorded as income. 

But there’s more than that, he said: “They also take aggressive tax deductions, often because they have borrowed to fund their lifestyle.” 

He said US billionaires buy an asset, build one or inherit a fortune, and then borrow against their wealth. 

Because they don’t realise any gains or sell any stock, they’re not taking any income, which could be taxed. 

“They then borrow from a bank at a relatively low interest rate, live off that and can use the interest expenses as deductions on their income,” he explained. 

Joe Biden to ‘propose hiking tax on rich’

The website said that “using perfectly legal tax strategies, many of the uber-rich are able to shrink their federal tax bills to nothing or close to it” even as their wealth soared over the past few years.

The wealthy, as with many ordinary citizens, are able to reduce their income tax bills via such things as charitable donations and drawing money from investment income rather than wage income.

ProPublica, using data collected by Forbes magazine, said the wealth of the 25 richest Americans collectively jumped by $401bn from 2014 to 2018 – but they paid $13.6bn in income tax over those years. 

President Joe Biden has vowed to increase tax on the richest Americans as part of a mission to improve equality and raise money for his massive infrastructure investment programme.

He wants to raise the top rate of tax, double the tax on what high earners make from investments, and change inheritance tax.

However, ProPublica’s analysis concluded: “While some wealthy Americans, such as hedge fund managers, would pay more taxes under the current Biden administration proposals, the vast majority of the top 25 would see little change.”

One of the billionaires mentioned, the philanthropist George Soros, is also alleged to have paid minimal tax. His office had not replied to a BBC request for comment, but said in a statement to ProPublica that Mr Soros did not owe tax some years because of losses on investments.

The statement also pointed out that he had long supported higher taxes on America’s wealthiest people.

Getty ImagesPresident Joe Biden has vowed to increase tax on the richest Americans

‘Illegal’

According to reports in the US, Michael Bloomberg, a former mayor of New York whose tax details were among the documents, said the disclosure raised privacy concerns and he would use “legal means” to uncover the source of the leak.

ProPublica, an investigative website, has written several articles about how budget cuts at the US Internal Revenue Service have hampered its ability to enforce tax rules on the wealthy and large corporations. The news organisation said it received the leaked documents in response to these articles. 

White House Press Secretary Jen Psaki said that “any unauthorised disclosure of confidential government information” is illegal.

Treasury Department spokeswoman Lily Adams said in an emailed statement to Reuters that the matter has been referred to the FBI, federal prosecutors and two internal Treasury Department watchdogs, “all of whom have independent authority to investigate”.

US Internal Revenue Service Commissioner Charles Rettig said: “I can’t speak to anything with respect to specific taxpayers. I can confirm that there is an investigation, with respect to the allegations that the source of the information in that article came from the Internal Revenue Service.”

#AceNewsDesk report ………Published: Jun.10: 2021:

Editor says #AceNewsDesk reports by https://t.me/acenewsdaily and all our posts, also links can be found at here for Twitter and Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

#income-tax, #rich, #tax, #washington

(ARGENTINA) #Coronavirus Millionaires Tax Report: Lawmakers vote 42 – 26 in favour to pay for #COVID19 costs and to raise $3.6-billion of the #pandemic to the economy #AceNewsDesk report

#AceNewsReport – Apr.07: Argentina has approved an extraordinary levy on large personal wealth. The measure is meant to raise some $3.6 billion to fund recovery after the #Covid19 #pandemic. Critics say it’s not an option for the stagnant economy:

#CoronavirusNewsDesk – Argentina approves ‘ Millionaires Tax’ by a levy on large personal wealth of the rich to pay for cost of #COVID19 as Global food prices hit six-year high as Covid-19 pandemic turns into major driver of food inequality

April, 07: 2021

Attachment.png

The so-called “millionaires’ tax” was approved in the Senate late on Friday in a 42 to 26 vote. The measure targets Argentinian citizens with declared personal wealth of over 200 million pesos ($2.5 million). It will apply a progressive tax rate of at least 2 percent on their total fortunes, including assets they may hold outside the country.

The tax was earlier passed by the lower chamber of the Argentine parliament, with 133 votes for it and 115 against.

Proponents say almost 12,000 people qualify to pay the levy, with the 380 richest taxpayers expected to cover over half of the total sum.

The government hopes to raise as much as $3.6 billion, which is to be spent on medical supplies, support of small and medium-sized businesses, social projects, student scholarships and exploration of natural gas

The tax was floated by the leftist government of Alberto Fernandez and his Frente de Todos (Everybody’s Front) coalition and was described as an opportunity for rich individuals to show “solidarity and extraordinary contribution” to the nation. The spending will boost the ailing national economy, they argued.

Argentina went into recession in 2018, which was a major factor in why Fernandez last year managed to unseat his predecessor, Mauricio Macri, in a general election. The Covid-19 pandemic, which has caused almost 40,000 deaths in Argentina, further aggravated its economic woes.

Critics from Macri’s Juntos por el Cambio (Together for Change) coalition said the move was “anti-investment, confiscatory and discriminatory”, and voiced concern that instead of being a one-time measure it would persist in some form.

#AceNewsDesk report …………….Published: 07: 2021:

Editor says #AceNewsDesk reports by https://t.me/acenewsdaily and all our posts, also links can be found at here for Twitter and Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

#argentina, #coronavirus, #millionaires, #tax

‘ THE POOR GETTING PUNISHED ‘

AceFriendsNews – November 18 – Poor Getting Punished. 

index

The headlines today : people working for minimal wages are getting € 10.00 less each month

(if your rated between 1000 and 1300 euro).

New tax laws !!!!

10-euro-e1412174695319

That is $ 12.496 dollar U.S.

The poverty line in Europe is € 1250.00

On welfare you get € 951,64 each month …..?  

Landlord-Guide-Eviction-Process

Its gonna get crowded in the streets that is for sure. If my name was Mark Rutte prime minister of Holland l would be deeply ashamed.

· · in fotografie.

 Source: 

#ANS2014

#dollar, #euro, #eviction, #laws, #poor, #poverty, #punished, #tax, #wages

JAPAN: ‘ SHINZO ABE MAY DISSOLVE LOWER HOUSE FOR A SNAP ELECTION BEFORE END OF YEAR ‘

#AceWorldNews – JAPAN – Nov.13 – Japan’s Prime Minister Shinzo Abe has told senior officials of the ruling coalition that he may dissolve the Lower House for a snap election before the end of the year, the Asahi Shimbun reported.

The move is being considered after postponing a proposed consumption tax hike in October 2015 for 18 months. The proposed date for the snap election is December 14, while December 21 could be the second option.

The general election will be the first since the December 2012 poll, in which the LDP returned to power with a landslide victory.

Japan’s Prime Minister Shinzo Abe seems to have opted for early election, a senior official within the ruling Liberal Democratic Party told the media, Jiji news agency reported.

“It looks like Shinzo Abe has finally made up his mind and it’s fair to consider that he decided to go to the people,” Tadamori Oshima asid, according to a former deputy chief of the party.

Sankei newspaper revealed reports on Wednesday that Abe was considering calling a general election for December and postponing tax increases.

RT 

#ANS2014

#election, #officials, #ruling, #tax, #victory

“Francois Hollande would not accept `Tax Optimisation Strategies’ for Multinational Internet Giants like Google”

#AceWorldNews says President Francois Hollande said Thursday that France would not continue to accept the tax optimisation strategies used by multinational Internet giants like Google.

“This is not acceptable,” he told journalists, adding that he would discuss making a “tax harmonisation effort” with US President Barack Obama when the two meet in Washington next week.
His comments follow reports that France is seeking one billion euros ($1.36 billion) in tax from Google.

#france, #google, #internet, #president-francois-hollande, #tax, #us-president-barack-obama, #washington

Junk food companies paid by taxpayer to develop healthier products – under cash for contracts

Junk food copy

Junk food copy (Photo credit: Wikipedia)

Some of the world’s biggest junk food companies are being paid millions of pounds of taxpayers’ money to develop healthier products.Chef Chris, says as more people like “Jamie Olivier” and others try to get us to eat healthier and not so much junk! Our government is providing money to junk food companies to develop healthier products! Sounds really good when you say it like that! So what is the real story and why is the beleaguered taxpayer being made to pay! The reason is looking after their own under the latest ” Cash for Contracts” supporting companies ,that if they had any intention to provide healthy foods, would have done so before this time!So l say eat healthily and do not let companies you associate with junk food, force you to eat theirs?

This news was provided by “The Roving Giraffe” through Ace News Desk and you can tweet your opinion at #AceFoodNews or email me at News & Views

Thank you, Chris [Chef]

#chris, #food, #health, #jamie-olivier, #junk-food, #roving-giraffe-news-report, #tax, #twitter