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Tag: tax

Our Tax Crisis

Our Tax Crisis

Wealthy investors felt that the 14,000 level of the DOW was worrisome, even dangerous because it might be the result of the money the Federal Reserve has put into the financial system. They worried that it was not supported by corporate fundamentals. These heavy hitters feared that another financial crisis could lead to deflation, destroying stability and stock values of dividend paying investments. In the last quarter of 2012, growth contracted in the developed world. The 34 member countries gave…

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Inequality is the Real Financial Crisis

Inequality is the Real Financial Crisis

The reelection of President Obama is subject to many interpretations. Each side debated issues that affect a long malaise into which the economy seems to be settling, and the growing divide between the 1% and the rest is an inequality not only of outcomes but also of opportunity, as pointed out by Nobel Laureates Paul Krugman and Joseph Stiglitz. These problems have driven inequality to its highest level since before the Depression and will be difficult to overcome – and…

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Toward Fairer Taxes

Toward Fairer Taxes

On November 28, billionaire Warren Buffett will tell the world on ABC television that rich people should pay more in taxes. “I think that people at the high end – people like me – should be paying a lot more in taxes. We have it better than we’ve ever had it.” Buffett supports House Speaker Nancy Pelosi’s plans to increase income taxes for those couples with $250,000 gross income – and so do I. And this may be the right…

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Business Benefits from National Health Insurance

Business Benefits from National Health Insurance

Alone among the nations of the world, the U.S. has relied upon private health insurance to cover the majority of its population, but far from all – 47 million are left out. This system is inefficient: it costs too much and the business community overpays. The private insurance industry spends about 20% of its revenue on administration, marketing, and profits. Further, the industry imposes on physicians, hospitals and businesses an administrative burden in billing and insurance related functions that consume…

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The Democrats Should Target the Wealth Gap

The Democrats Should Target the Wealth Gap

For the first time in a dozen years, the Democrats have retrieved control of Congress. While foreign policy and the Iraq war are high on the new agenda, pocketbook issues are sure to have a high priority. Soaring executive pay, stagnant worker salaries, corporate criminal conduct, and as the decline in pensions and health care have stimulated nationwide – even international – concerns about the fairness of American business. Congressman Barney Frank is in position to correct some of these…

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