And now for something completely different. Nah, not really. Time for some financial stuff. This time – what causes double dip recessions and what is the likelihood that we’re headed for one? In this first blog of a new series, I will examine the characteristics of double dip recessions, and discuss them from an historical perspective to show how rare they really are. Continue reading
Economy
Government’s Housing Subsidy Program’s Ramifications
In a surprising twist of events, people who cannot afford expensive houses still do not have the money to pay them off. Continue reading
The Case for Fair Tax
Last time, I lined out essentially what the Fair Tax system is: replacing the federal income tax with an across-the-board increase in sales tax. It would get up to twenty three percent, to be exact. Now I will explain why I believe the Fair Tax system might be the best alternative to the currently-used progressive tax system. Continue reading
Fair Tax: At the Basest Level
In my last few blogs, I’ve been looking at the history and forms of the American taxation system. I also compared the mainstream tax systems in the world – Flat Tax and Progressive Tax. In this blog, I plan on exploring one of the most discussed taxation systems right now – the Fair Tax system. Continue reading
Flat Tax Systems Explained
In my last blog I (very) briefly discussed the pros and cons of the Progressive taxation system. In this blog, as part of my several-part series, I will explain the pros and cons of the flat tax system. Continue reading
Progressive Tax System: Pros and Cons
The American tax system is widely debated on a philosophical level. Ever since Congress passed the Sixteenth Amendment, which granted the federal government to retain taxes instead of dispersing them to the states according to their populations, America has used a Progressive Tax System to varying extents. Continue reading
History of American Taxation (1894 – 2010): America’s Income Tax 2
With the 16th Amendment solidifying the federal government’s ability to withhold taxation revenues, the income tax was here to stay. It was re-issued in 1894 as a one percent tax on incomes greater than $3,000, and a six percent surtax on incomes greater than $500,000. From this year forward, the top bracket income tax bracket has never been that low again: Continue reading
History of American Taxation (1789 – 1894): America’s Income Tax
Due to the fiscal situation in the country, I’ve decided to start a new series of blogs. I’ve had one related to China’s financial situation and I’ve written another series based on the trade off between the economy and the environment. This blog series, however, will focus on taxation: different tax systems, how taxes affect society, proposed reforms to the tax system, and perhaps most importantly, the history of taxation in the US. Continue reading
Obvious Banking Strategy is Obvious
In one of the week’s biggest “no kidding?” moments, Federal Reserve Chairman Ben Bernanke said that, “Banks should make loans to creditworthy borrowers.”
Well, duh. Continue reading
From Greece With Love
Greece could be a lesson for all of us in America. Continue reading
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