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IPFS News Link • TAXES: Federal

Prince Harry and Meghan Markle Are about to Learn America's Tax Regime Is a Royal Pain

•, by Daniel J. Mitchell

I realize that we're in the midst of an important tax battle in Washington and that I should probably be writing about likely amendments to the Senate tax bill.

The bad Rubio-Lee proposal to increase refundable tax credits (i.e., redistribution spending that is laundered through the tax code) and "pay for" that additional spending by increasing the corporate tax rate.

The very good initiative from Senator Rand Paul to repeal the awful Foreign Account Tax Compliance Act (FATCA).

But long-time readers know that I'm bizarrely preoccupied with international tax issues (I would argue for very good reasons since global tax competition is a way to discipline greedy politicians and because I want the power of governments to be constrained by national borders).

So I can't resist commenting on a Washington Post story about the tax implications of the upcoming wedding of Prince Harry and Meghan Markle.