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That represents a tax cut of 40percentt.
In effect, responsibility for raising the debt limit represents "a tax on the political majority," Mr. Marron said.
The pre-tax price of petrol is currently about 20 pence a litre, so this upper-bound estimate of the optimal tax represents a tax rate of well over 100%—a "high tax", to be sure.
Even this may prove optimistic, as continued uncertainty, difficult market conditions, and higher unemployment are likely to constrain firms ability or need to pay more. Lee Hopley, chief economist at EEF, the manufacturing trade body: Including plant and machinery in the calculation of business rates represents a tax on productive investment that is out of step with international practice.
President Obama understandably denies his mandate represents a tax.
IRS Commissioner John Koskinen said Thursday that crippling the agency's resources represents "a tax cut for tax cheats".
Similar(51)
This experimental control represents a taxing constraint for the face system and might partially account for the present observations, as the vast majority of studies on the other-race effect have relied on the use of identical pictures to assess face recognition performance.
That would represent a tax increase of approximately 600% in three years.
The chancellor said it represented a tax cut of £800m a year.
The skewed interest rates offered by China's banks represent a tax on depositors and a subsidy for industry.
That would represent a tax cut for 30 million people that takes everyone on the minimum wage working 30 hours a week out of income tax altogether.
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