Taxing remittances?
Posted By: DVC, 5/19/2025 1:42:50 PM
We've posted about remittances to Mexico in the past. It's a big number and the top source of cash for Mexico after oil and tourism revenues. It's US$ 63 billion, a lot of money, to say the least. It's also a lot of money leaving the U.S., specially from towns and communities that could use the funds to support local services. [snip] Remittances, one of Mexico’s main sources of foreign currency, are now in the crosshairs of U.S. tax policy. A U.S. House of Representatives committee on Wednesday approved a proposal to impose a 5% tax on remittances.
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Taxing remittances?
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We've posted about remittances to Mexico in the past. It's a big number and the top source of cash for Mexico after oil and tourism revenues. It's US$ 63 billion, a lot of money, to say the least. It's also a lot of money leaving the U.S., specially from towns and communities that could use the funds to support local services.
[snip]
Remittances, one of Mexico’s main sources of foreign currency, are now in the crosshairs of U.S. tax policy. A U.S. House of Representatives committee on Wednesday approved a proposal to impose a 5% tax on remittances.
When the mountain roared
6 replies
In 1980, I was a forester working for the Idaho Department of Lands in the northern backcountry. On Sunday, May 18th, a few of us were having a barbecue. It was a beautiful, bright day with a clear blue sky. Suddenly, we noticed an ominous black cloud coming over the back of the mountain to our west. It didn’t look natural. The cloud expanded as it moved eastward, soon covering the entire sky, and it became so dark that the streetlights came on. It was early afternoon, and yet it was as dark as midnight. We were terrified.
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Here’s the story:
Germany: Wind power firms face millions in losses as wind speed drops to 50-year low
The wind speed average has dropped below less than 5.5 meters per second in the first quarter of 2025, according to [the] German Meteorological Service (DWD).
In the aftermath of the Spanish blackout
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One subject that renewable advocates are averse to discussing is asset utilization and I can understand why. Capacity factors, which are a measure of asset utilization, plummet when renewables enter the picture. As a typical example look at Red Eléctrica de España (REE). In 2024, it had capacity factors for wind, solar, and natural gas of 22%, 17%, and 16%, respectively. In essence, REE possessed three expensive assets that were grossly underutilized. If it discarded the wind and solar, the natural gas capacity factor would rise to 64%.
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In his latest proposal to end the war in Ukraine, former President Donald Trump reportedly offered Vladimir Putin a dangerous concession: de jure recognition of Russia’s annexation of Crimea. The proposal appears to accept the idea that Crimea was once part of Russia and that returning it to Russia would restore historical justice.
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Over 100 illegal immigrants arrested in
Colorado Springs massive underground nightclub raid 4 replies
Colorado Springs massive underground nightclub raid 4 replies
Federal authorities announced Sunday that more than a hundred illegal immigrants were detained in a massive raid at an underground nightclub in Colorado Springs that officials say was "frequented by TdA and MS-13 terrorists."
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Stellantis is halting production at two manufacturing plants, one in Canada and another in Mexico, just a day after President Donald Trump announced 25-percent tariffs on all foreign-made cars.
During a speech in the Rose Garden on Wednesday evening, Trump announced the auto tariff and the United States reciprocal tariffs, marking an end to the nation’s decades-long free trade policy that has eliminated millions of American manufacturing jobs.
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One of the virtues of being a mentally healthy person in an honest society is that you don’t have to deal with cognitive dissonance. That is, there are no moments when you are forced to accept two entirely conflicting facts or values. Instead, you have the mental freedom to work through the conflict and come out with an honest evaluation.
When people lack that honesty and liberty, the only refuge is delusions and heartfelt lies to themselves. That shows up in a very funny video from February that’s starting to gain deserved traction.
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In a statement released Sunday evening in response to Joe Biden’s cancer announcement, former President Barack Obama absurdly claimed Joe Biden has done the most work to find treatments for cancer.
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A California building owner confronted the homeless encampments in downtown Los Angeles with an unusual musical deterrent.
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Comments:
5% tax is ridiculously low. I suggest 35% tax as a start, increasing to 50% over 5 years.