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.
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 is about the advice of leading industry body ASSOCHAM to the government of India. ASSOCHAM says that the most effective way to bring down the inflation rate is to address supply-side issues, rather than to mess with monetary policy. India's inflation rate has increased from 8.31% to 8.98% from last month.
This industry speciifc article discusses the demand by the Steel manufactures for supply side policy in india to combat rising inflation. They also want an end to monetary policy which they feel is not working. The government has stated that inflation is falling and there is growth.
This article discusses the author's view which goes against the implementation of supply side policies as well as how no amount of supply push will fundamentally change the U.S. oil predicament. The author also disputes that no good oil policy will solve the climate problem...Read more to find out what else he has to say about supply-side policies.
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.
In Asia, supply-side constraints were going to ease up after last Autumn. The government is aiming to "rebuild the demand", because it is painfully lacking.
This article talks about the process -that has just began- of privatization of the spanish airport controller, in order to reduce deficit and increase supply; a process that is meeting high opposition among the most traditionalist politicians together with most of the employees of AENA, who until now, where public workers, and had some advantages, less working hours, less possibilities of getting fired; which are now losing.
This article is about the dependence of Mexico's economy on U.S. monetary policy. Mexico's peso may decline against the dollar, if US government tightens its monetary policy. "Once the United States starts to have a more constrained monetary policy ... it is to be expected that many of the flows that are arriving in Mexico will no longer arrive ... but this is not something we think could seriously affect the Mexican economy". These are the words of Mexico's finance minister Ernesto Cordero.
This article talks about the Mideastern countries. Recent events have in that region have led to many short-term effects. One of those many effects is increase in government expenditure. However, the priority for the governments remains to be fiscal policy, which requires major reform to be sustainable.
Kemp, a former quarterback for the Buffalo Bills, represented western New York for nine terms in Congress, leaving the House for an unsuccessful presidential bid in 1988.
Eight years later, after serving a term as President George H.W. Bush's housing secretary, he made it onto the GOP's national ticket as Bob Dole's running mate.
With that loss, the Republican no longer ran for office, but he stayed in politics. In speaking engagements and a syndicated column, he continued to advocate for the tax reform and supply-side policies -- the idea that the more taxes are cut, the more the economy will grow -- that he pioneered. He also formed a Washington strategic consulting firm, Kemp Partners, after leaving office.
"The chain of logic for supply-side policies to work requires the following. Lower tax rates on savings (or on those who save more) leads to higher saving rates. Higher saving leads to more economic investments and greater capital accumulation. Finally, more capital leads to greater economic growth. At each of these steps, however, there is reason to doubt the theory-there are other possible outcomes and conflicting theories.
Rep. Ryan's plan is supply-side economics on steroids. His budget for fiscal year 2012 beginning in October would curtail spending, end Medicare as we know it, and reduce taxes on the wealthy while keeping overall tax revenue constant. This can only mean taxes will go up on the "nonwealthy." Ryan boasts that all this pain will be for good. And he is backed by the Heritage Foundation, which predicts-among other fantastical claims-that his budget will add an estimated additional 1 million jobs in 2012. Those 1 million jobs, however, are fictional."
This article is about how the supply side within the United States has changed since the Deepwater Horizon incident last year and the recent earthquake in Japan. These two disasters that occurred within 1 year of each other are estimated to affect the US economy for over 10 years at the least.
The article suggests that monetary policy is one of the few countercyclical tools that nearly every economist can get behind. This article also shows how economists think of inflation and get rid of inflation. monetary policy is one of good ways that economists think
This article discusses how the US Federal Reserve will keep interest rates low, using monetary policy to try and increase spending. It also explains their reasoning for it and the possible times when they will finally rise and to what extent.
Europe tightens their monetary policy, apparently fighting price pressure according to Weber, Bundesbank president. Europe's inflation rate is about 2.7% as of March, up from 2.4%.
This article is about statistics that were released last week that indicate that China needs to tighten their monetary policy further in order to fight inflation and stop raising interest rates from the Central Bank.
China has increased the banks' reserve requirements for the seventh time since the tightening cycle in October of 2010. Clearly, China has been and will continue to improve upon their monetary policy.
