LONDON | The US 2012 election result can do little to change the fate of Wall Street under the extreme pressures of a global credit crunch and a relentless economic crisis. In a paper issued Monday by JP Morgan Asset Management, the investing company said that the financial sector will likely shrink after having become quite large a share of the country’s economy. “One side effect of that process, lower secondary…
MADRID | As published on Monday by Negocio, Spanish tax inspectors believe the Tax Agency should take some urgent actions to close leaks of fiscal revenue. Bearing in mind the budgetary restrictions that the State is about to suffer, and that any legal change against fiscal fraud would require too long a process, one of their intended measures would be giving a new twist to the message that vice-president Soraya Sáenz de Santamaría…
WASHINGTON | No more than a 1% of U.S. citizens accumulate 20% of the income and 35.6% of the wealth (in assets, labor income and capital), which constitutes the largest concentration of wealth on the richest hands since the existence of statistics in this country. But at the same time, they contribute a 38% of federal tax income. In addition, there are 43 states that have their own income tax. In…