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Judge Blocks Popular California Pension Reform Initiative

On August 4, California Judge Kent Kellegrew took the unusual step of removing a citizen’s initiative from the ballot that would have dramatically reformed pensions for all future employees in Ventura County, California by moving them from a defined benefit pension to a defined contribution retirement. Judge Kellegrew declared that only the legislature could make the change, and that putting an initiative on the ballot would be a waste of public resources. While proponents of the initiative...

Burger King’s Migration Highlights Flaws in U.S. Corporate Tax Policy

Burger King’s announcement that it will move its headquarters to Canada has put the spotlight on that country's tax system. However, the tax benefits of doing business in Canada, as opposed to doing business in the U.S. are not well-known. First, Canada has a much lower corporate tax rate: 15 percent at the federal level plus another 11 percent on average from provincial corporate taxes. Compare that to the U.S. federal corporate tax rate of 35 percent, plus an average state corporate tax rate...

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