Here's the interesting thing: the fact that QE and lowering interest rates almost to zero has worsened inequality, does not mean that raising interest rates will help reduce inequality.
Increases in interest rates normally worsen inequality, at least partly by reducing employment and wage growth.
Raising interest rates might lead to some initial reductions in wealth by lowering asset prices, but it could also take a bite out of your paycheck and dampen your prospects of finding a job. It's a bit of damned if you do and damned if you don't.
In 88 poor countries for which we have data, in each and every one of the 88, the PPP for food shows that poor people can buy less food than you would expect from the PPP that the World Bank is using. The reason for this is obvious on reflection. It has to do with the fact that most foodstuffs are tradable commodities: basic foodstuffs, such as rice, flour and beans, can easily be conveyed across national borders and their prices will therefore roughly mirror the exchange rates among currencies.
As you know Cuba has progressed a lot regarding all the indicators of social development and those rates can be compared favorably with the first world in several aspects. We think that without the heavy burden of the blockade that we can move forward a lot more in building prosperous and sustainable socialism to which we aspire.
I have a ball - and it keeps my heart rate up. I get to wear fabulous clothes. I get to make people laugh. That's my core business, and that's where I'll always return.
I am actually quite encouraged and I think, actually, the UK is coping with globalisation a lot better than most other European countries. And that is reflected in the fact that (whilst of course there are people who are still unemployed) our unemployment rate is low and (whilst of course we need to export more) we are attracting a huge amount of inward investment into Britain.
I would favor three policies: raising the minimum wage to $12, closing the tax loophole where persons only pay a 15% income tax on long term capital gains (tax it at the full tax rate), and institute a progressive tax moving the highest tax rate from 39.6% to 45%. I would favor implementing these three policies in that order, starting with raising the minimum wage, but not stopping there.
There are times when a market such as housing, transportation or the stock or mortgage market keep rising and people with capital want to join in this growth. Soon the markets become overheated, partly because of the abundance of investment money and speculation. This is when the government should raise interest rates and increase the cost of borrowed money. Governments are shy about doing this because it could cause the very recession. Yet this is the best time to do this so that the inevitable recession never reaches the magnitude of the recent Great Recession.
The CEO announces that the purpose of the firm is to improve the lives of the customers and the lives of the firm's stakeholders and the quality of the planet. The company will give fair compensation to all the stakeholders and the CEO will not earn more than 20 times the median income of his employees. He will want his employees to rate him, just as he also has to rate them.
I think that the risk to all the progress we've made was at stake in the election because not just the president-elect but a lot of members of Congress, including now the Speaker of the House and the Senate majority leader, have said that their principal agenda was to undo a lot of this progress. But as I've been talking about over the last several days when it comes to health care, the gains that we've made are there. Twenty million people have health insurance that didn't have it before. The uninsured rate is the lowest it's ever been.
The rise in health care costs since Obamacare, the Affordable Care Act was passed, have been at their lowest rate in 50 years. Those savings have extended the Medicare trust fund by 11 years. So we've got a baseline of facts.So it is true theoretically that all that progress can be undone, and suddenly 20 million people or more don't have health insurance.
Do not let anyone, of any sex, tell you that your intuitions and insights, your wisdom and your understandings, are somehow second-rate or not to be trusted.
I'd make an educated guess that 20 to 25 percent of the taxable property in the U.S. is Church-owned.In a recent book, Church Wealth and Business Income, it was estimated that this property -all of it tax-exempt -is worth upwards of 80 billion dollars. I know that's a fantastic, unbelievable figure, but there's every reason to believe that it's on the conservative side; and this amount is increasing yearly at a geometric rate.
Football leads to a crime rate among people that play in the NFL that is less than the gen pop, the general population. The numbers have been run. It's just that people who play football are stars and, as such, what they do occurs with greater media scrutiny. So when one of them happens to engage in some sort of questionable behavior, it happens to (in a lot of it people's minds) speak for the whole sport and everybody that plays it.
Most employers I speak to, they want to create jobs and give decent salaries. Some small and medium companies say to me they cannot afford to pay the living wage. I say "what about if I gave you a business rate cut?" and they say, yes, ok. We want companies which are skilled up, generating more profit, more corporation tax - we should not be embarrassed at success, as long as they pay their taxes.
The psychic phenomena and the number of people involved in psychic phenomena is rising at just an incredible rate - that's a definite indication of the fourth dimension. But it's also a very dangerous time.
We live in an age where the rate of change has been colossal. Colossal. Almost every week there's some transformation of some kind, whether technological or political or scientific, whatever. And I think it's bewildering to human beings to live in a time when they can't take anything as fixed - when everything is shifting and changing all the time.
The rate of change is global now. I think there's a kind of mind that is so ill at ease with that transformation that it reaches out for something permanent. And religious faith offers that, from simplicities, which you are told are eternal and unchanging, and you can hold on to those like a life raft in a metamorphosing world.
I think America the symbol and America the notion are still very different from America the nation. What's touching and almost regenerative is that whatever is happening in the reality of America, where there is a murder rate worse than Lebanon's and where there is so much homelessness and poverty, still America will be a shorthand throughout the world for everything that is young and modern and free.
What the Tea Parties are standing for is constitutional principle. It's not fundamentally about tax rates or whether to have a consumption tax or an income tax. It's about adherence to Constitution and the principle of limited government.
The only acceptable way to solve ecological problems is if you can persuade people to have fewer children. In the Victorian times, there were families of 15 children. Someone like Edward Lear, he was the last of 21 children. And so what we have to think about is offering people the alternative choice. And in the West, that's what's happening. The birth rate has been dropping steadily and still is. I'm wanting human beings to be better off so they don't view children as an insurance for the future.
I'm in a profession with a dismal success rate, in an academic field with a dismal hiring rate. And I don't write, really, about any of that - rather the institutional structures I've negotiated my way through, with healthy doses of luck, provide a breathing, parasitic glimpse into the bureaucratic monolith of the creative-degree machine.
The arts are a green industry with a very high rate of return. This is not money thrown away by any stretch of the imagination. This is money that creates jobs. This is money that brings life, financial life, to communities.
There are two economic realities in America in 2016. There's been a record six straight years of job growth, and new census numbers show incomes have increased at a record rate after years of stagnation. However, income inequality remains significant, and nearly half of Americans are living paycheck to paycheck.
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