Bloomberg Quicktake: Now published this video item, entitled “Where Can You Keep the Most Salary After Paying Taxes?” – below is their description.
For the traders and bankers who had a hyper-lucrative pandemic, the other shoe could be dropping soon.
Their pay packets represent an inviting target for government officials around the world conjuring a solution to the trillions of debt they added in the past year.
For instance: Now that President Joe Biden has passed his $1.9 trillion Covid-19 stimulus act, he is said to be planning to pay for his long-term economic program with the first major U.S. federal tax hike since 1993. Earlier this month, British Chancellor of the Exchequer Rishi Sunak rolled out a budget that will take taxes to their highest level since the 1960s (even though income taxes won’t go up).
“Are people concerned? Of course,” says Benedikte Malling Bech, director of North Star Law, a London-based boutique law firm that advises international and ultra-high-net-worth individuals. “Every government is going to have a financial struggle. What people are watching with great interest is how are different countries going to be able to cope with it.”
If keeping and attracting skilled workers and their employers are vital to a nation’s economic recovery, deciding how the bill is paid — and by whom — will be a delicate task for policy makers. As data calculated by PwC U.K., the U.K. arm of PricewaterhouseCoopers LLP, for Bloomberg News shows, some will have more room to maneuver than others.Bloomberg Quicktake: Now YouTube Channel
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