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Corporate Finance

Many Unhappy Returns: 100 Years of the Income Tax

Last Sunday, Feb. 3 marked the 100th anniversary of the ratification of the 16th Amendment, which enabled the establishment of the U.S. federal income tax. The century-long history of the income tax has been marked by more and more taxpayers paying higher and higher amounts of tax. As Americans get ready for yet another tax filing season, take a look at how the income tax has morphed from a tax only a handful of people actually paid in 1913 to behavior-changing deal it is today.

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U.S. CEOs Headed to Davos Are Gloomy About 2013

US CEOs are showing less confidence for growth in 2013 but are optimistic about the longer-term horizon, according to the 16th annual survey of U.S. CEOs conducted by PricewaterhouseCooper. They are, however, far more confident in their company’s ability to navigate through the anticipated volatility expected over the next three years.

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Why We Need New Firms and Better Ways to Generate More of Them

In 2011, the U.S. economy barely grew at all during the first six months. In 2012, the economy managed an anemic 2 percent average growth, very much below the post-recovery periods after each recession since the end of World War II. Despite record amounts of stimulus that was supposed to kick-start the private economy, consumers remain hesitant and businesses have ...

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Shareholder Activism, Increased Expectations Add to Pressure on CEOs

CEOs and boards of directors are feeling the pressures of increased stakeholder activism and scrutiny. When asked in the RHR International 2013 CEO Snapshot Survey about the current biggest threat to their tenure, 22 percent of CEOs cited “failure to perform to stakeholder expectations,” compared to just 12 percent in January 2012. In addition, more than half (57%) say that they will be driving a change in their company’s strategy this year.

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U.S. Plunges in Economic Freedom Index

The United States, long considered the standard bearer for economic freedom among large industrial nations, has experienced a substantial decline in economic freedom during the past decade, according to researchers who created the Economic Freedom of the World (EFW) index .

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After the Fall

Whatever emerges from the fiscal cliff, it’s certain taxes will go up. There’s a certain amount of relief that something has been done. But let’s not delude ourselves. This deal is not good for the economy as it doesn’t do anything to cap the burden of government spending. Nor does it reform entitlement programs. Now for the bad news.

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Five Reasons to Have Second Thoughts about Simpson-Bowles

The Simpson-Bowles budget plan is often represented by media pundits and Washington insiders as a model for a bipartisan “grand bargain” to fix the deficit. It’s not surprising that Beltway wise men would want to steer the country in the tax-and-spend direction of Simpson-Bowles, but others are not so sure mainly because it leaves the spending spigot on. Here are five reasons why one might have second thoughts:

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