Page 2 - Tax Bite News Today : Breaking News, Live Updates & Top Stories | Vimarsana

>> neil: it was a tough environment. >> 78 was worse. >> neil: it was a bad environment. but there was something different. we were able to use equity incentives for our employees. you continue do that anymore. now options have to be expensed, which is stupid. it's dumb. we never -- >> neil: to get people involved, you couldn't do? >> let me tell you what. one of the great sides -- we have 3,000 kids in this company today, started in the parking lot, pushing carts. ready? they're multimillionaires. they're capitalists. these kids started with nothing. didn't go to college. worked like hell. ga...

The drugstore giant is set to acquire a european chain and move its corporate headquarters from illinois to switzerland, potentially saving hundreds of millions of dollars a year. "wall street journal" coliseum maryann and james freeman join me with more. james, what's behind this recent flurry of these tax changes acusitions overseas? why now? >> well, business has figured out that we're not going to have any reform of this insanely high tax rate. it's with the state levees, it's 40%. >> on average. >> which is double the average in europe. so, this is a massive tax bite from the federal gove...

U.s. corporate tax rate stands at 35% and that has motivated some of the largest cooperations to park their money overseas in countries that grab much less of a tax bite than we do. as f last year, nearly $2 trillion has been stored outside of our borders. that's an increase from the year before. the top five are ge, microsoft, merk, and apple. the majority of fortune 500 companies permanently invest offshore and some have managed to avoid all taxes on profits.

Check in borden town. >>steve: altogether the powerball ticket is worth $338 million. but when you figure out your tax bite, 46.1%. about half goes to federal and new jersey state taxes if he does take it in the lump sum, he will take home $221 million. >>brian: how do you live on that? >>steve: how do you? unfortunately, for the tax bite, it is $11 million more than it would have been last year because of that increase in taxes on people who have a lot of dough. >>gretchen: remember in the good old days when they started these lotteries and all those tax dollars were supposed to go to improve...

With a prepaid card. spends like cash. feels like membership. today, employees around the country are cashing in their first paycheck of the new year and they are feeling the pinch. every employee in america started paying the 2% higher payroll taxes of january 1st. how much money are we talking about? you've crunched the numbers on this. a lot of people scratching their head, saying what the fica? give us the breakdown. >> i'm glad you said that and not me on live television. the payroll tax cut did die at the end of 2012 which means everyone will see a bigger tax bite out of their paycheck...