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The FairTax is a proposal to reform the federal tax code of the United States. It would replace all federal income taxes (including the alternative minimum tax, corporate income taxes, and capital gains taxes), payroll taxes (including Social Security and Medicare taxes), gift taxes, and estate taxes with a single broad national consumption tax on retail sales. The Fair Tax Act would apply a tax, once, at the point of purchase on all new goods and services for personal consumption. The proposal also calls for a monthly payment to all family households of lawful U.S. residents as an advance rebate, or "prebate", of tax on purchases up to the poverty level.

Central and Victoria Harbour of Hong Kong

The economy of Hong Kong is a highly developed free-market economy. It is characterised by low taxation, almost free port trade and a well-established international financial market. Its currency, called the Hong Kong dollar, is legally issued by three major international commercial banks, and is pegged to the US dollar. Interest rates are determined by the individual banks in Hong Kong to ensure that they are market driven. There is no officially recognised central banking system, although the Hong Kong Monetary Authority functions as a financial regulatory authority.

Its economy is governed under positive non-interventionism, and is highly dependent on international trade and finance. For this reason it is regarded as among the most favorable places to start a company. In fact, a recent study shows that Hong Kong has come from 998 registered start-ups in 2014 to over 2800 in 2018, with eCommerce (22%), Fintech (12%), Software (12%) and Advertising (11%) companies comprising the majority. The Economic Freedom of the World Index lists Hong Kong as the second freest territory, with a score of 8.55 based on data from 2021. (Full article...)

"The ordinary expence of the greater part of modern governments in time of peace being equal or nearly equal to their ordinary revenue, when war comes they are both unwilling and unable to increase their revenue in proportion to the increase of their expence. They are unwilling for fear of offending the people, who, by so great and so sudden an increase of taxes, would soon be disgusted with the war; and they are unable from not well knowing what taxes would be sufficient to produce the revenue wanted. The facility of borrowing delivers them from the embarrassment which this fear and inability would otherwise occasion. By means of borrowing they are enabled, with a very moderate increase of taxes, to raise, from year to year, money sufficient for carrying on the war, and by the practice of perpetually funding they are enabled, with the smallest possible increase of taxes, to raise annually the largest possible sum of money. In great empires the people who live in the capital, and in the provinces remote from the scene of action, feel, many of them, scarce any inconveniency from the war; but enjoy, at their ease, the amusement of reading in the newspapers the exploits of their own fleets and armies. To them this amusement compensates the small difference between the taxes which they pay on account of the war, and those which they had been accustomed to pay in time of peace. They are commonly dissatisfied with the return of peace, which puts an end to their amusement, and to a thousand visionary hopes of conquest and national glory from a longer continuance of the war."

—Adam Smith, The Wealth of Nations, 1776

• ... that in 2007, Jeremiah Moss started Jeremiah's Vanishing New York, a blog that functions as a "digital obituary column" for old New York City small businesses lost to gentrification?
• ... that Francois Massaquoi, who studied economics at New York University, later led the Lofa Defense Force during the First Liberian Civil War?
• ... that Earle M. Chiles, a businessman and philanthropist from Portland, Oregon, was also a senator of the board of Ludwig Maximilian University in Munich, Germany?
• ... that East Lake Square, a failed shopping mall in Tampa, Florida, was converted into a business park known as NetPark Tampa Bay in 1999?
• ... that Celine-Marie Pascale's work focuses on how race and class impact the way "business practices and government policies create, normalize and entrench economic struggles" to benefit the wealthy?
• ... that the developer of Citizen Sleeper was inspired by the feeling of people coming together and their own experiences as a non-binary person struggling to make ends meet through the gig economy?

April 24:

• 2004 - Estée Lauder, an American businesswoman, co-founder of Estée Lauder Companies, died on this day.

• ... that the spread of Limicolaria flammea (pictured) is potentially damaging to the multi‐billion dollar horticultural industry in Singapore?

• ... that at the time of her completion in 1918, American cargo ship West Lianga held the distinction of being both the fastest-launched and the fastest-constructed ocean-going ship in the world?

• ... that American Student Assistance is the oldest guarantor of student loans in the United States?

• ... that the Newfoundland Butter Company of Newfoundland manufactured only margarine, and was the first margarine manufacturing plant allowed in Canada?

• ... that The New York Times moved in 1858 to a building at 41 Park Row, making it the first newspaper in New York City housed in a building built specifically for its use?

• ... that all U.S. Presidents from Dwight D. Eisenhower through Ronald Reagan ordered glassware from Fostoria Glass Company of Moundsville, West Virginia?

• ... that the Adriatic LNG terminal is the world's first offshore liquid natural gas terminal?F

Wikinews Economy and business portal

• July 21: Technological University Dublin senior lecturer Dr Lorcan Sirr speaks to Wikinews on housing market in Ireland
• July 15: California governor signs new state budget, eligible Californians to get stimulus payments
• July 4: 130 OECD countries agree to back global corporate tax rate
• June 30: 'Each makes the other more difficult to recover from': University of Sussex professor L. Alan Winters speaks to Wikinews on trade, COVID-19, Brexit
• June 16: Wikinews interviews Victor Kline, leader of newly registered The New Liberals party in Australia
• April 23: Irish Finance Minister Donohoe criticises OECD's global minimum corporate tax rate
• April 17: People protest in Berlin against German Court overturning five-year rent cap
• March 5: Chancellor Rishi Sunak announces UK budget 2021
• February 10: Disney to shut down Blue Sky Studios, animation studio behind 'Ice Age'
• January 24: World Trade Organization declares US tariff hike illegal, rules in South Korea's favour