Alaska currently has no income or state sales tax. Technology has made it easier for individuals and businesses to move to states--or countries--with lower tax rates, says Joe Henchman, vice president of legal and state projects for the Tax Foundation, a policy research organization based in Washington, D.C. "Everybody is under the gun to be more competitive, whether it's government or the private sector," he says.
The eight tycoons' net worth, as calculated by Forbes magazine, was cited Monday by anti-poverty activists Oxfam in a report highlighting income inequality. Gates co-founded Microsoft in the mid-70s, growing it into the world's biggest software company and helping to make computers a household item. The richest person in Europe, Ortega opened the first Zara fashion shop in 1975.
If options traders are correct, stocks are in for a wild ride in February. Demand for one-month call options tied to the CBOE Volatility Index, a popular gauge of stock-market volatility, has spiked in the past week, a sign that some are bracing for a sharp downturn following the inauguration of President-elect Donald Trump. In that time, investors have purchased 250,000 VIX call options with a strike price at 21, and another 100,000 with the strike at 22, according to Brian Bier, head of sales and trading at Macro Risk Advisors, an options brokerage. The options cost roughly 49 cents per contract, Bier said. By comparison, the CBOE Volatility Index VIX, +10.51% was at 11.16 in midday trading