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China is planning to raise income tax on the very rich. By changing the minimum income at which the bracket begins from $450 to $315 a month. Even though a nation that has a great disparity between rich and poor the the tax system will have not as large an effect as say in america. This is because only a small amount of chinese file income tax forms at all so the overall lessening of government income willl not take such a direct hit.

When it comes to taxes, do the rich pay their fair share? The answer, of course, is subjective since "fair" is not an absolute concept and tax data, depending how it's sliced, can tell different stories. Those who say the rich pay their fair share point to the fact that the top 1% of taxpayers end up paying almost as much in federal income tax (and some years even more) as the bottom 95% combined. Still, it's unlikely that even the most anti-tax, pro-wealth advocates would find this particularly fair: A very small number of millionaires end up owing no federal income tax at all.

This article shows how Americans with a higher income use iPads, e-readers, computers, cellphones more than Americans with lower incomes. This is an example of income elasticity of demand, where an increase in average income among Americans will lead to more demand for computers, cell phones and other electronic devices.

The article discusses the Chinese state's initiative to increase the minimum income tax threshold from 2000 yuan. This was done in order to 'boost domestic demand' - a rise in disposable income increases consumer expenditure in theory and thus boosts aggregate demand. The authorities are however cautious of the increase in income leading to inflation - this suggests that the authorities deem the Chinese economy to be near full employment of resources (according to the Keynesian outlook).

The suffering will be widespread in Michigan as lawmakers dig the state out of next year's projected $1.4 billion budget hole.Snyder's plan eliminates the unpopular Michigan Business Tax in favor of a much smaller corporate income tax. To make up for the lost revenue, many tax exemptions and credits, both for business and individuals, would be erased. The most controversial of those eliminate an extra credit for the working poor and reduce pension exemptions.In total, income tax revenue would rise in 2013 nearly as much as business tax collections decline.

Lower income earners will see a small increase in their pay packets from July 1 when the government rushes forward $1.37 billion in tax breaks.The tax cut was to be delivered when people filed their returns at the end of the financial year, but the government is changing the timing in a gesture to cost-of-living pressures and to encourage people into work and to work more.

THIS ARTICLE DESCRIBES INCOME ELASTICITY CONNECTED WITH HOUSING. IN THIS ARTICLE IS VIVIDLY SHOWN extensivy literature on the demand for housing and problems of estimating income elasticity of demand

This article is about the process that the government is going through to ban State income taxes. It is apparent that most everyone does not want to be taxed on their income but rather on their expenditures.

This article discusses how lottery ticket sales vary based on income.

This article gives us an idea of income elasticity with an example of real company Dixon, the electrical goods retailer

This article is interesting since it discusses the problem with deciding on who pays higher taxes. The tax described here is a progressive tax but it is hard to decide at which income to increase the income tax.

North Carolina is seeking to aid citizens so that tax returns are easier for them and income tax is not a "guessing game". Making tax returns simpler for citizens in North Carolina will aid the government by having to send out less and smaller returns because the citizens will be able to predict the amount of income tax that they have to pay more accurately.

This article is about predicting casino revenue and the elasticity of casino use.

The article highlights certain industries/producers that succeed during a recession, all related to the idea of negative income elasticities or inferior products. Examples from the article include discount retailers such as Walmart, 'sin industries' e.g. cigarettes, selected services e.g. renovation (people focus on what they have and try to improve it rather than purchasing something new). The article also praises firms that tighten up costs and expand on 'core product' ranges and using 'vast economies of scale' to provide affordable goods to consumers.

In a new study of federal fiscal policies between 1977 and 1992 entitled "Inequality and the Federal Budget Deficit," the nonpartisan group concludes that the tax cuts enacted in that period enriched the wealthy, increased the tax burden of the middle class, and grossly inflated the national debt. The study concludes that the tax cuts have resulted in lower overall federal tax burdens for only the very poorest and very richest of U.S. taxpayers. Most other families are paying a greater percentage of their family income to the government than they would be if the tax code had remained unchanged since 1977.

The article discuss how despite the world wide economic crisis, Coca-Cola is able to not only stay afloat but they have manage to increase the net income in the US and around most of the world. Demand for Coca-Cola will remain stable or grow despite the world economy.

This article talks about how Taiwan's standard of living has passed Japan's. Although Japan's GDP per capita itself is still far larger than that of Taiwan, when taking into consideration of the price of the two markets, the real relative income for Taiwan is larger than that of Japan. The role that price plays here is that it serves as a clarifier of the numbers which may mislead the people into believing that the standard of living for Japanese people is twice as good as the Taiwanese's.

In India, new cars are being registered at a rate of nearly two million per year. The Indian auto industry has become the world's seventh largest, now having overtaken every European country except for Germany. This exponential rate of production comes at an opportunity cost however. A mixed externality takes place. The stimulation in the auto industry increases the demand, and therefore the possession of cars in the country, which will hence increase the amount of green house gases released by general motor transport, aggravating atmospheric pollution.

The article discusses the reason why India's private sector employment is relatively low given the high economic development and prosperity. Wages are said to not have risen to levels suggested by per capita income figures and this has been attributed to the plethora of cumbersome laws and regulations that govern Indian labour markets. Due to the inflexibility, private sector employers respond by not hiring too many workers in the first place due to fear of disputes. At least 45 laws exist at the national level, and up to 4 times as many at the state level. The author cites a change in government's attitudes to labour market as the remedy to India's unemployment.

The article discusses a higher than expected growth in the level of inflation, growing 2.4% in January alone. The rise is attributed to a rise in food prices due to the loss of harvest during the smog wildfire issues of summer 2010. Under election pressure, the finance minister has stated that more compensation would be given to low-income earners if inflation continued to rise unimpeded.