Many rich people have left Britain to avoid the 50 percent income tax. In the 2009-10 tax year, more than 16,000 people declared an annual income of more than 1 million pounds. That number fell to 6,000 after then-prime minister Gordon Brown introduced the new top rate.
The recession continued to affect how much Americans gave to charity last year, and the triple whammy of Superstorm Sandy, a national election and the looming fiscal cliff may cut how much we donate in the crucial final month of 2012, experts say.
In an outcome very few court experts predicted after hearing the oral arguments, the Supreme Court left the Affordable Care Act of 2010 largely untouched. Chief Justice John Roberts limited the ruling to say that the individual mandate’s penalty for not having health insurance counted as a tax increase.