New York and New Tax

According to a Manhattan Institute survey, more than half of high-earning New Yorkers are working entirely from home and 44% are considering leaving the city. Ned Lamont, Connecticut’s governor, has said “the old idea of the commuter(通勤者) going into New York City five days a week may be outdated.” It does seem     1     that the tens of thousands commuting from Mr. Lamont’s state will continue to do so. The region’s governors have     2     well together to deal with the pandemic(流行病), but the friendliness may soon end over taxes.

When people from     3     states like New Jersey and Connecticut commute to New York to work for a New York-based employer, they must pay New York tax on the related earned income. Even those who work from home must pay New York taxes unless the employee is working outside New York by     4    .

Taxpayers and those states are looking closely at this loophole(漏洞). In December, Connecticut and New Jersey applied to the Supreme Court to consider a case which     5     a state’s authority to tax non-residents’ income while they are working remotely. They think this is definitely a(n)     6     to the city’s finances. “Firms have considered leaving the city before, and employees are gradually accepting the idea. They have been working remotely for almost ten months and they’ve     7     to that idea.”

Companies are also watching the progression of the billionaire Mark to Market Tax Act, which would treat capital     8     from billionaires’ property as taxable income. New York’s Democratic governor said he would reject any laws     9     heavy taxes on the rich, because it would drive out wealthy, mobile residents. It would not take too many moving trucks for the city to feel the economic loss, says Michael Hendrix. A 5%     10     of New Yorkers making about $10,000 would result in an annual loss of $933m—roughly the amount distributed to the city’s health department.

New E-Commerce Law Takes Effect

China’s new e-commerce law, which was passed last August, took effect on January 1. The law comes amid the rapid development of China into the world’s largest e-commerce market.

The law aims to regulate the market and create a sound     1     environment. It covers the requirement for registration and licensing of e-commerce operators, taxation, electronic payment, etc. It also     2     other important aspects of e-commerce, including false advertising, consumer protection, data protection, intellectual property and cybersecurity.

The new law will apply to three types of operators. These include e-commerce     3     operators like Taobao, third-party merchants who sell goods and services on e-commerce platforms, and online vendors (供应商) who do business via other network     4    , such as social media sites. It means that merchants who sell goods through non-traditional e-commerce platforms, such as WeChat, will fall under the new law. These sellers will now need to finish their business registration and pay     5     taxes.

The law will make all e-commerce platform operators     6     responsible with the merchants for selling any fake or knock-off goods on their websites. Before the law took effect, individual merchants were solely responsible when caught selling liable (负有偿付责任的) goods.

The implementation of the law may bring     7     on online retail (零售) companies and merchants selling goods through social media sites. Many private shopping agents (known as daigou) are considering whether to continue the service under the new policy since it will increase the management cost and lead to a rise in the product price.

But the new law does not aim to     8     small to medium sized online retailer. Instead, it helps lay the legal foundation for the growth of the e-commerce business industry,     9     order in the market and further promotes its growth.

Besides, the law will help clean up China’s reputation as a     10     source of fake or knock-off goods. In the long term, consumers will benefit from it.

A ban on distracted walking

You can’t walk down the street without passing so-called ''smart-phone zombies(僵尸). '' They are too absorbed in their screen     1     (watch) where they are going. Almost four in ten people admit having suffered a technology-related small accident     2     they pay more attention to their electronic device than to the pavement.

Now the city of Honolulu, Hawaii, has decided it’s time to take immediate action and make it illegal to cross the road while using a mobile phone. Those     3     (catch) using phones, tablets or other electronic devices at crossing points could face a fine of up to $ 100.

Honolulu is the first major U. S. city to ban     4     is called ''distracted walking. '' It comes after a study that found there     5     (be) more than 11,000 injuries in the United States resulting from phone-related distraction while walking in the past few years.

To explain the decision, mayor Kirk Caldwell said, ''We hold the unfortunate honor of being a major city     6     more pedestrians are hit in crosswalks than almost any other city in the country. ''

Under the fine systems.     7     breaks this law for the first time will get a fine of $15 to $35. People breaking the law for a second or third time will get a $99 fine.

The law, which is called the Distracted Walking Law, does permit an exception. Pedestrians     8     use such devices in the street to call emergency services and rescue workers, such as firefighters and police officers.

If you still want to text while walking, you could avoid     9     (fine) in Honolulu by using a voice-controlled digital assistant such as Siri or Google Assistant. Or you could just wait     10     you are again, safely, off the street.

Minimum wage laws in the U.S. were first introduced during the 1930s in response to the Great Depression. This period was     1     by falling output, falling prices, and falling employment. The National Industrial Recovery Act (NIRA) of 1933 attempted to stop this downward trend by encouraging the     2     of trade association agreements that established the lowest price and minimum wages. This was the first time that minimum wages were introduced in major industries. But in 1935, the U.S. Supreme Court ruled that the NIRA was unlawful, and these initial minimum wage agreements came to an end.

In 1938, the Fair Labor Standards Act (FLSA) established a national minimum wage of $0.25 an hour. This Act     3     only applied to a relatively small share of the labor force, but has been     4     over time so that it now applies to about 90% of all nonsupervisory workers.

Introductory economies textbooks usually first introduce the minimum wage as an application of demand and supply analysis. This starting discussion is usually based on the following     5    : the labor market is perfectly competitive, the minimum wage covers all workers, and worker productivity is     6     by the wage rate.

While minimum wage increases generally receive     7     public support, economists have generally argued that such laws will result in an increase in the unemployment rate in low-wage labor markets.

An issue related to that of a minimum wage is a growing movement for a “living wage”.Living wage proposals suggest that the     8     minimum wage is too low to allow families to be above the poverty level. Now,     9     of this view support “living wage laws” that require the local government to only accept contracts from firms that pay their workers a wage that is high enough to     10     the worker above the poverty line. Under Baltimore’s “living wage” requirement, firms must pay a worker an hourly wage that will allow a full-time worker to receive an annual income greater than or equal to the poverty level for a family of three.

It is a common sight on campus or in the streets: a young person rides by on an electric scooter, traveling quickly and proudly. But Beijing’s traffic authorities have said that starting on Sept.5, people who are caught riding electric scooters on public roads or bicycle lanes will be fined 10 yuan. They will also be given a warning not to use the vehicles on public roads again.

The announcement was made after traffic police in Shanghai started a campaign to get electric scooters off public roads, with police officers stopping riders because the scooters could cause traffic problems.

The Beijing Consumer Association said it had tested more than 20 electric scooters of different brands recently and found that most had substandard brakes. It added that 16 of the tested scooters could go faster than the maximum 20 km per hour set for electric bikes. According to the traffic police, people who ride electric scooters at certain speeds can easily bump into the vehicles in the vehicle lane and hurt people who walk in the bicycle lanes.

But seeing the benefits that electric scooters have brought to young people, experts are worried that the ban may take effect slowly.

Electric scooters are a great answer to the ‘last mile problem’ of getting from a public transport station to one’s home. They’re light enough to throw over your shoulder. They’re easy to ride just about anywhere and don’t need a lot of physical effort. The scooter can travel 25 km on one charge. It’s convenient and easy to control.

They are also good for environment. Unlike cars and buses, electric scooters produce no carbon dioxide, need no fuel and make almost no noise.

For many young people, they use them to copy cool celebrities they have seen in videos.

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