Market // Current TV

As iPad goes global, the birth of a new market?

As Apple's iPad is released in nine overseas markets on Friday, industry watchers... more

eva2
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Tax WEALTH not INCOME!

TAX WEALTH
Taxing wealth will be a fair correction to the unfair tax system that taxes income and ignores wealth. The stock market crash of 1929 occurred not because of some plan to tax wealth, but because of the absence of a tax on wealth. A yearly 100% tax on personal wealth that exceeds $1 million could be easily done with the help of hi-tech communication and information systems (it is not redistribution, it is a wealth tax).
Capitalism is a very dynamic socioeconomic system. The instability of capitalism springs from the disparity of wealth due to the capitalist reward system. It is a myth that the stock market raises capital for investments. Most of the daily trading is of existing shares, not newly issued ones. However, one thing that the financial market does very well is that it concentrates wealth. Steady, well-paying jobs will livable wages are disappearing faster than they will be created. Most jobs are either temporary or part-time with low wages. But with low wages comes low consumer spending because consumption is linked to demand. “Capital returns go up and work wages go down – it is a destructive combination”. For 85% of taxpayers, whose pre-tax incomes hovers between $8,500 and $48,000, their chances of becoming millionaires are remote. Therefore, for their own economic well-being and their own self-interest, they must demand a tax on wealth and an end to income taxes. Those with obscene wealth and their hired defenders will claim that capital will fly and that will be the end for savings and investments. Capital always flies to safe havens, to places where interests are high. The US taxes very lightly on capital gains but has one of the lowest rates of savings and investments. The claim that with too much money around, inflation will hit the roof ignores the fact that science and technology is making it possible for supply to always meet demands. And those who argue that if wealth is taxed there will be no incentive to work can’t explain why income tax payers keep working and paying taxes.
Democrats and Republicans (DEMREPS) do not have a solution for the growing rift between the rich and poor because of their compromise to maintain the status quo at all costs; for this reason, the US congress will not pass legislation to tax wealth. They prefer to tax income, borrow money from the wealthy and pay them interest with your income taxes (upwards redistribution of income from ordinary taxpayers to rich bond-holders). Are you apprehensive? Let’s say your personal wealth is $4 million before filing your personal wealth tax declaration form. You can dispose of the $3 million taxable amount any way you like. Or on request; the IRS will give you a personal loan up to $3 million at 10% annual interest. Do you own and/or supervise a multimillion dollar enterprise? Assign yourself any amount of money as your supervisory fees (income not taxable).
The only rational and sensible way to solve the problem of obscene wealth and indirectly generate a booming economy is by implementing the USA economic agenda. The agenda does not conflict with globalization. It can also be applicable to other developing economies. The USA economic agenda is the answer to the next great depression: too many laborers and less need for labor, in need of cash, but broke, in debt and no chance of default; prospects for a profitable war down to zero and an exhausted Federal Reserve expertise of creating money out of thin air.

Make the US a silent partner of corporate America.
Money only does good when you spread it around.

http://unitedstatesalliance.blogspot.com/TAX WEALTH Taxing wealth will be a fair correction to the unfair tax system... more

UnitedStatesAlliance
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Do Capitalists Produce Nothing?

The subprime crisis left many Americans wary of financial markets and capitalist... more

worrg
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Monsanto retreats from bold profit goal

Monsanto shares rallied to a record in November 2007 when executives declared the... more

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Mindy McCready Seems to Totally Dissaprove Her Sex Tape on the Showbiz Market

We all were surprised by Mindy McCready's attitude towards the news that Vivid... more

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Aziz's Comedy-Rap Mixtape

It's not often that two of my favorite artists, from completely different... more

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What is this? A Corporatocracy?

This post is from Dan Ucko, a former intern for Vanguard . Dan blogs... more

LilyBixler
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Stock Markets Around The World Make A Comeback

A comparison of stock markets around the world and their growth since 2009.

digitalfever
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The Drivers Of Tropical Deforestation Are Changing

A shift from poverty-driven to industry-driven deforestation threatens the... more

worrg
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Market Reversal for March?

"California is deeply in debt. You could say that it's bankrupt,"... more

Michelle_Farrar
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Haiti Didn't Become a Poor Nation All on Its Own -- The U.S's Hidden Role in the Disaster

In the hours following Haiti's devastating earthquake, CNN, the New York Times and other major news sources adopted a common interpretation for the severe destruction: the 7.0 earthquake was so devastating because it struck an urban area that was extremely over-populated and extremely poor. Houses "built on top of each other" and constructed by the poor people themselves made for a fragile city. And the country's many years of underdevelopment and political turmoil made the Haitian government ill-prepared to respond to such a disaster.

True enough. But that's not the whole story. What's missing is any explanation of why there are so many Haitians living in and around Port-au-Prince and why so many of them are forced to survive on so little. Indeed, even when an explanation is ventured, it is often outrageously false such as a former U.S. diplomat's testimony on CNN that Port-au-Prince's overpopulation was due to the fact that Haitians, like most Third World people, know nothing of birth control.

It may startle news-hungry Americans to learn that these conditions the American media correctly attributes to magnifying the impact of this tremendous disaster were largely the product of American policies and an American-led development model.

From 1957-1971 Haitians lived under the dark shadow of "Papa Doc" Duvalier, a brutal dictator who enjoyed U.S. backing because he was seen by Americans as a reliable anti-Communist. After his death, Duvalier's son, Jean-Claude "Baby Doc" became President-for-life at the age of 19 and he ruled Haiti until he was finally overthrown in 1986. It was in the 1970s and 1980s that Baby Doc and the United States government and business community worked together to put Haiti and Haiti's capitol city on track to become what it was on January 12, 2010.

After the coronation of Baby Doc, American planners inside and outside the U.S. government initiated their plan to transform Haiti into the "Taiwan of the Caribbean." This small, poor country situated conveniently close to the United States was instructed to abandon its agricultural past and develop a robust, export-oriented manufacturing sector. This, Duvalier and his allies were told, was the way toward modernization and economic development.

From the standpoint of the World Bank and the United States Agency for International Development (USAID) Haiti was the perfect candidate for this neoliberal facelift. The entrenched poverty of the Haitian masses could be used to force them into low-paying jobs sewing baseballs and assembling other products.

But USAID had plans for the countryside too. Not only were Haiti's cities to become exporting bases but so was the countryside, with Haitian agriculture also reshaped along the lines of export-oriented, market-based production. To accomplish this USAID, along with urban industrialists and large landholders, worked to create agro-processing facilities, even while they increased their practice of dumping surplus agricultural products from the U.S. on the Haitian people.

This "aid" from the Americans, along with the structural changes in the countryside predictably forced Haitian peasants who could no longer survive to migrate to the cities, especially Port-au-Prince where the new manufacturing jobs were supposed to be. However, when they got there they found there weren't nearly enough manufacturing jobs go around. The city became more and more crowded. Slum areas expanded. And to meet the housing needs of the displaced peasants, quickly and cheaply constructed housing was put up, sometimes placing houses right "on top of each other."

More at the link above:In the hours following Haiti's devastating earthquake, CNN, the New York Times... more

WeAreChangeKy
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2 years ago
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Cerberus Capital: Literally Blood-Sucking the Poor to Make Their Billions | Corporate Accountability

How one company made $1.8 billion by paying peanuts to human plasma donors and then... more

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A Beautiful Scene at the Market: Excerpts from La Traviata de Verdi

Some Christmas cheer and lightness: I think I might enjoy shopping a bit more if... more

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The Best Forex Trading Strategies for 2009 and Beyond

The Forex market has certainly come a long way from its beginnings as a specialized... more

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Nuu-chah-nulth win right to sell

VANCOUVER, British Columbia – When traveling along West Coast Highway 4 through... more

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Which is more profitable: Stock or Forex Trading?

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Cincinatti's Community Gardens: The CHEF Program

From NPR’s Latino USA podcast, the video below looks at Cincinnati’s... more

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A British Guy, An American Girl & A Plant: The Courtship

*The Plant Picture Does Make Sense Once You Read The Post! Such a well-written... more

jrn
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Adventures in Delhi's INA Market

Delhi is home countless markets and bazaars selling everything imaginable.... more

juliadewahl
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2 years ago
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HP VCAM: No Excuses [Official Selection]

With HP's new Photosmart Premium with TouchSmart Web, you have no excuses not to... more

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