IJR News

California Voters Reject Billionaire Wealth Tax — 3dCalifornia voters rejected Proposition 40, a proposed one-time 5% tax on billionaires’ wealth that supporters said would fund health care and offset federal cuts. Billionaires and business groups spent heavily to defeat it, while supporters argued it could raise tens of billions; Gov. Gavin Newsom also opposed the measure, citing concerns about its spending priorities and the risk of wealthy residents leaving.

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UK Probes How Bloomberg Learned of Bank Tax Rise Before Budget — 1dBritain’s Government Security Group is investigating how Bloomberg obtained accurate details of a temporary bank-tax increase before Chancellor John Healey announced it in his October 28 Budget; the report preceded a rally in bank shares. Treasury officials say banks and industry groups were not briefed, while lawmakers are pressing for answers about the disclosure of market-sensitive information.

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Marcus Bell This leak before the budget suggests someone with access shared market-moving details that should have stayed private.

US Vietnam and Portland approve tax cuts for small businessesBusiness — 3dRecent tax changes aim to ease costs for small businesses: the U.S. federal tax law permanently extends the 20% deduction for qualified business income, while Portland is raising its small-business tax exemption to $100,000. In Vietnam, eligible businesses and household businesses with annual revenue up to VND 10 billion will receive a 30% income-tax reduction for 2026 and 2027, with the policy covering millions of taxpayers.

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IRS raises 2027 income thresholds 3.2%Finance — 5dThe IRS raised 2027 federal income-tax brackets by about 3.2% to account for inflation, while keeping tax rates unchanged; the adjustments apply to returns filed in 2028 and are intended to limit bracket creep. The agency also increased standard deductions and other tax thresholds, including the estate and gift tax exemption.

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Rachel Meyers The bigger estate exemption helps wealthy families more than the average worker gets from the standard deduction.

DSA Wealth Tax Proposal Puts Group at Odds With Newsom — 6dA proposed tax on California's wealthiest residents has exposed a divide between Democratic Socialists of America supporters and Gov. Gavin Newsom, with critics warning the plan co… — by Andrew Powell

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Most Influential Women in World HistoryYourlist — RankingFrom ancient queens who ruled empires to modern activists who changed laws, these women left indelible marks on politics, science, and culture. Vote for who you think shaped history most profoundly.

NY Appeals Court Clears Mamdani Luxury Second-Home Tax — 6dA New York appellate court reversed a lower-court ruling that had ordered the city to restart the rollout of Mayor Zohran Mamdani’s tax on luxury second homes, allowing the policy to proceed. The tax, a key part of Mamdani’s agenda to raise revenue from the wealthy, still faces other legal challenges.

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Property Tax Push Could Strain Local BudgetsPolitics — 5dLocal governments and school districts face mounting budget pressures from inflation, funding gaps and political pushes to curb property taxes. Officials warn that limits or cuts could threaten services unless replacement revenue is found, even as some homeowners face higher bills, including a projected $285 increase in Austin.

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Arkansas Revenue Exceeds Forecast by $153.7 MillionFinance — Nov 3, 2026Arkansas tax collections exceeded forecasts in October and during the first four months of fiscal 2027. Revenue growth was led by sales taxes and gains in several business sectors, while officials noted that shifted income-tax payments also contributed to the increase.

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Trump Pledges Posthumous Pardon for Pete Rose — 1dPresident Donald Trump said he would grant a posthumous pardon to Pete Rose, whose federal tax conviction stemmed from underreporting income, and again argued the baseball legend was mistreated. The pardon would not erase Rose’s MLB gambling ban or determine his Hall of Fame eligibility; Rose bet on baseball, which players are prohibited from doing.

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Maya Lindstrom Pardoning the tax conviction is reasonable but it leaves the lifetime betting ban untouched and that's the real issue here.

Tax Measures and Revenues Show Mixed ResultsFinance — Nov 3, 2026Washington voters appeared to reject an effort to block the state’s millionaire tax, while Cook County voters strongly backed a nonbinding proposal urging Illinois to consider a 3% surcharge on income over $1 million for property-tax relief and education; the measure would require further state action to become law. In California, a tax surcharge on wealthy earners was leading toward approval, while a proposed one-time tax on billionaires’ assets was trailing amid arguments over revenue, public services and the risk of wealthy residents leaving.

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Proposed California Wealth Tax Prompts Billionaire Departures — Nov 2, 2026California’s latest proposed tax increase has already led to so much wealth fleeing the state that tax revenue is set to fall, not rise. Golden State politicians announced the upco… — by Daily Caller News Foundation

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Toy Story vs ShrekYourlist — VS BattleThe toy box vs the swamp: two animation revolutions, one inevitable playground argument.

Florida Approves Big Property Tax Cut as Relief Fails in Wyoming and OklahomaFinance — Nov 4, 2026Voters approved property-tax relief measures in Florida, North Carolina, Louisiana, Tennessee and Georgia, while rejecting proposals in Wyoming and Oklahoma. Florida’s new exemption for up to $250,000 of a primary home’s value is projected to reduce annual property-tax revenue by $12 billion when fully implemented, renewing debate over homeowner relief and funding for local services.

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‘Billionaire Tax’ Appears Defeated in California, But Soak-the-Rich Approach Gains Traction Elsewhere2 sources — 6d

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Dana Whitfield This shows these taxes rarely stick because rich residents can move and take their businesses with them.

Jacksonville council approves incentives for downtown grocery and housing projectBusiness — 1dJacksonville’s City Council approved incentives for Gateway Jax’s downtown development, which is expected to include a Publix grocery store, apartments and retail. The package was reduced from an initial $50 million request, but the vote remained contentious as council members weighed downtown investment against looming property-tax revenue losses and budget cuts.

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Local Councils Set Meetings on Housing and Development PlansPolitics — 1dRochester’s school board will appoint a replacement for Karen MacLaughlin, while the City Council plans to certify election results, review downtown construction and potential state funding requests, and hold a town hall on community survey concerns. Councils in Clear Lake and Middletown also have meetings scheduled to discuss development projects, future tax revenue and leadership.

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How charismatic are you, really?Quizie — QuizNot a score out of ten — the AI identifies your specific brand of charm and where it's most dangerous.

Arkansas Gov. Sanders Proposes $6.97 Billion Budget With Future Tax Cuts — 5dArkansas Gov. Sarah Huckabee Sanders proposed a balanced $6.97 billion budget, about 3.9% above the prior year, prioritizing $150 million for Medicaid, $70 million for Education Freedom Accounts and $20 million for early childhood education. The plan also includes one-time investments in Medicaid sustainability, water infrastructure and Human Development Centers, while Sanders says strong revenues and limits on government growth can leave room for future tax cuts.

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Honest Company Revenue Falls 8.6%, Tax Lifts ProfitFinance — 5dThe Honest Company reported third-quarter revenue of $84.6 million, below year-ago levels but above analyst estimates, as organic sales grew while it exited lower-margin and noncore businesses. Net income surged to $91.3 million largely because of a one-time, noncash tax benefit; excluding that item, adjusted profit was $3.1 million, while adjusted EBITDA and margins improved.

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Newsom proposes $1 billion California film and TV tax credit2 sources — Nov 2, 2026

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Marcus Bell A billion in tax credits for the film industry feels excessive when California already faces big budget shortfalls in other areas.

WHO Draft Guidance Targets Additives; Food Industry Pushes BackHealth — 2dThe WHO’s draft guidance urges governments to consider regulating foods with added colors, flavors or sweeteners, potentially through warning labels or taxes, alongside traditional nutrition criteria. Food industry groups object that the approach could sweep in too many products and distract from nutritional quality, amid broader debate over ultra-processed foods.

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Iowa Awards $18.5 Million in Historic Tax CreditsBusiness — Nov 2, 2026Iowa awarded more than $18.5 million in historic-preservation tax credits for rehabilitation of eight properties across six cities. Projects include converting historic buildings into apartments and renewing space for businesses and community use.

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Plano Voters Reject Dallas Stars Arena TaxesPolitics — Nov 2, 2026Unofficial results showed Plano voters opposing Proposition A, 54% to 46%, which would allow taxes on tickets, parking, hotels, car rentals and sports teams to help fund up to $700 million of bonds for a proposed Dallas Stars arena at The Shops at Willow Bend. Supporters say the taxes would primarily affect visitors, while opponents cite unanswered questions and potential indirect costs, including traffic and added burdens on residents.

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Cape Girardeau Council Votes 5-2 to Fund Tourism StudyTravel — 1dCape Girardeau’s City Council voted 5-2 to proceed with a privately funded, roughly $100,000 study of tourism opportunities, while rejecting a proposal to advance a restaurant-tax measure for sports-facility upgrades. Hospitality businesses will help fund the study, which a city-appointed task force is expected to oversee; some council members raised concerns about private-sector influence, while parks leaders cited sports tourism’s economic benefits.

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Chambersburg Council Advances 2027 Budget ProposalPolitics — 2dChambersburg Borough Council reviewed a balanced 2027 budget that includes a previously planned increase in the Public Works Complex tax and modest increases to water, wastewater, sanitation and ambulance charges. Council authorized public review of the proposal, which still requires approval and may change; residents also raised concerns about blighted properties and development.

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Democrats Could Restore NFA Taxes On Suppressors After Midterm Gains — 6dRegulations on suppressors and other items covered under the National Firearms Act could be halted after Democrats take control of Congress in January.

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