Tax Revenue

"It's An Attack On Higher Education": Connecticut Seeks To Tax Yale Endowment As Plug To Surging Deficit

In the aftermath of Connecticut yield spreads blowing out to the widest ever over fears of surging budget deficits, a proposed Connecticut bill is seeking a share of Yale's endowment gains as a source of state tax revenue. According to the introduced legislature, schools with funds of $10 billion or more, which is clearly aimed at Yale as that is the only university to fit the criteria. Yale’s record $25.6 billion fund is the second largest in U.S. higher education.

Q1 2016 Marijuana Industry Survey & Outlook

All in all, recreational marijuana stores in Colorado received $575.8 million in 2015 revenue based on tax data from the Colorado Department of Revenue. That’s an 84% comp to 2014, showing robust growth in the industry. Turn to other states in which retail marijuana is legal and you’ll see they have posted impressive growth figures as well, even with less time to mature

9 Signs That 2016 Looks Ominously Like 2008 (Just Before The Crisis)

Given the financial establishment’s astonishingly short-term memory and capacity to make even bigger mistakes than ever before, we now find ourselves in a very similar position today. Once again, the financial system is in desperate condition. And the data is all there for anyone who cares to look.

The World Economy Wreckers Of Beijing

As Donald Trump speeds toward the White House, the mainstream media will soon be gumming vigorously about how American politics became so unhinged. They need look no further than the Red Suzerains of Beijing. It is their monumental foolishness that has made The Donald possible.

Average Wall Street Bonus Drops 9%; Lowest Since 2012

When it comes to concerns about their professional future, few things faze Wall Streeters: mass layoffs - no big deal, someone else will hire; empty steakhouses - that's ok, Hustler Club is packed (and expense accounts are accepted just fine). But lower compensation and all hell breaks loose. Which is why quite a few hearts must have been pounding today when New York state Comptroller Thomas DiNapoli released his annual Wall Street compensation report in which we revealed that average Wall Street bonuses for 2015 will drop by a quite substantial 9% to "only" $146,200, the second consecutive year of declines, and the lowest since 2012 when average bonuses were $142,860.

Which States Rely Most On Federal Spending?

The state most reliant on federal spending is Mississippi where federal spending is equal to 32% of the state's GDP, and the current central banking regime perpetuates the current imbalance between net tax payer states and net tax receiver states by making it more difficult for poorer parts of the country to accumulate wealth and increase productivity.

Legalizing Weed Has Done What 1 Trillion Dollars And A 40 Year War Couldn't

The Mexican drug cartels are finally meeting their match as a wave of cannabis legalization efforts drastically reshapes the drug trafficking landscape in the United States. It turns out that as states legalize cannabis use and cultivation, the volume of weed brought across the border by Mexican drug cartels dramatically decreases — and is putting a dent in their cash flow.

A Conversation With My Neighbor "Sam"

“What if the banks stop loaning you money to make your payments on your loans? What happens then?”

“I guess I’m assuming that won’t happen.”

Why Globalization Reaches Limits

We have been living in a world of rapid globalization, but this is not a condition that we can expect to continue indefinitely.

The Entire System Is Rigged Against Your Prosperity

This system makes the US, and most Western countries, easy to be a consumer. But it’s becoming more difficult to be a producer. This entire system is rigged against the Universal Law of Prosperity. And when all the incentives make it easier to consume than produce, it’s not hard to figure out where this destructive path will ultimately lead.

How Italy Will Fail And Drag Down The European Project

Italy is big enough to matter (it is the eight largest economy on the planet), but so uneventful that most does not pay any attention to what is going on there. We contend that Italy will, during the next year or two, be on everyone’s radar screen as it has the potential to derail the European project for real.

ISIS Goes Full-Wall Street, Rigs FX Rates To Generate Extra Profits

According to Reuters, ISIS has learned that when it comes to illicit gains, nothing beats white collar crime. Sure you can rape and pillage and even set out to establish your very own oil trafficking routes, but when it comes to racking up effortless gains, nothing works like rigging rates, a concept those "other" international criminal organizations (banks) figured out long ago.

The Cost Of Democratic Socialism (In 1 Stunning Chart)

With a growing number of Americans appearing willing to jump on the socialism-by-any-other-name bandwagon, JPMorgan CIO Michael Cembalest digs into the details of Bernie Sanders' tax proposals. As the following chart sums up so extremely, his plan would certainly represent a unique and unprecedented event in the history of US taxation, if it were enacted.