Taxation

• A Wealth Tax Floated in California Has Billionaires Thinking of Leaving - It’s uncertain whether the proposal will reach the statewide ballot in November, but some billionaires like Peter Thiel and Larry Page may be unwilling to take the risk.
• The Billionaires Have No One to Blame but Themselves - The first rule of dark money is to quit blabbing about it. Did they think people would thank them for it?
• Businesses Are Cashing In on Trump’s Tax Cuts - Corporate tax revenue has quickly dipped since Republicans passed tax cuts this summer. But economists think these tax breaks might be worth it.
• For ‘No Tax on Tips,’ the I.R.S. Gets Intimate - The Trump administration wants to exclude earnings from “pornographic activity” from a new tax break for tips. Will the I.R.S. know it when it sees it?