Tax collections hit record high

Share to Twitter Share to Linkedin Total compensation to players in Major League Baseball that involve salaries, benefits, medical costs, etc. for the purposes of the league’s luxury tax system exceeded $5 billion for the first time, a sign that the league has fully exited the pandemic. According to The Associated Press , luxury tax payrolls for the league in 2022 were $5,164,589,774, a sizeable increase of $646,127,349 from 2021’s total of $4,518,462,425. The luxury tax payrolls are a significant measure of player compensation as they include costs above just salaries and factor into possible penalties should clubs exceed certain thresholds. For calculation purposes, the payrolls are for 40-man rosters and include the average annual values of contracts and $16,016,707 per club for benefits and extended benefits, which include items such as health and pension benefits; club medical costs; insurance; workman’s compensation, payroll, unemployment, and … [Read more...] about MLB 2022 Luxury Tax Payrolls Exceed $5 Billion For First Time; Six Clubs Pay Penalties

Rupee The Indian government will borrow a record 16 trillion rupees ($198 billion) in the fiscal year to March 2024, according to a Reuters poll of economists, who said infrastructure spending and fiscal discipline ought to be its highest budget priorities. The federal government's gross indebtedness has more than doubled in the past four years as Prime Minister Narendra Modi's government has spent heavily to cushion the economy from the effects of the COVID-19 pandemic and to provide relief to the poor. The Feb. 1 budget will be the last full-fledged one before national elections in 2024 and before elections in several large populous states that will be key tests for the ruling Bharatiya Janata Party (BJP). But a fall in tax revenue and expected slowing economic growth next fiscal year will limit the government's ability to cut borrowing in the near term. Gross borrowing next fiscal year is expected to hit 16.0 trillion rupees, up from an estimated 14.2 trillion rupees … [Read more...] about Budget 2023: Government to borrow a record Rs 16 trillion in fiscal 2023/24, says Poll

Share to Twitter Share to Linkedin Ultra-high net worth real estate has long been full of hot shots, narcissists, and bravado. In turn, unscripted reality shows like Bravo’s “Million Dollar Listing” and Netflix’s “Selling Sunset” have minted ratings and superstars out of realtors and developers, many of whom were just scrapping to get a listing or a loan a few years earlier. Luxury real estate is also rife with hyperbole: browse through most multi-million dollar listings in Miami, Manhattan, or Los Angeles, and you’d be tempted to believe that every kitchen is fit for a Michelin-starred “chef” and that each fixture and finish belongs in the Louvre. Against this background, it wouldn’t be unreasonable therefore to think that the tagline for the recently completed Estates At Acqualina in Sunny Isles Beach—a.k.a “The World’s Finest Residences”—might whiff of a little aggrandizement. If you're familiar with Florida’s “other Trumps”, however, … [Read more...] about South Florida’s Trump Group Just Reset The Global Bar For Luxury Real Estate—Again