The UK may be on to something

Posted: Dec 09, 2011 |Comments: 0 |

In 2009 the UK announced a new 50% bank payroll tax on bonuses of more than GBP25,000.  The intent was to raise money to pay for the massive bank bailout they (like us) had to undertake in 2008. 

What if the tax had been an income tax rather than a payroll tax?  Individuals who work at these places would have suffered and they would have been more inclined to choose another profession - provided the surtax was big enough. We are constantly being told that our best and brightest are choosing careers in areas that do not benefit the country as a whole.  We lose physicists to Wall Street and our best lawyers to Washington where they become lobbyists.  No one starts up a manufacturing business and our top graduates rarely choose to teach.

Rather than just ignorantly flattening the income tax system we could create brackets based on economic utility.  The marginal rates for bankers would be 85% on all incomes above $500,000 and 60% for income above $50,000.  Lobbyists and personal injury lawyers - same thing. 

If you work for a firm that manufactures goods in the US, the rate would be 10%.  If the firm just imports the goods from China - 85%Teachers -10%.  Education bureaucrats - 85%. Research scientists - 10%. Medical GP's -10%  Cosmetic surgeons who work on the rich (not the injured) - 85%.Army volunteers - 10%  3rd party military contractors - 85%

The corporate tax system could be similarly aligned.  If your company outsources then a flat corporate tax of 50% would be levied.  If you're angry about it, that's OK - you can relocate your horrible parasitic enterprise elsewhere.  If you employ ony US workers and you are a manufatcuring company then there is no corporate tax applied at all.  Tax dodging companies will have a 50% VAT applied to their goods sold in the US.

Every university student and executive would have to take these extreme differences into account as they choose majors and headhunters.  Even support personnel and hourly workers would be affected so they too would seek out manufacturing companies rather than hedge funds.

Instead of subsidizing businesses that we feel are important (like Solyndra) we should be forcing our best and brightest to work for them.

Retrieved from "http://www.articlesbase.com/economics-articles/the-uk-may-be-on-to-something-5470871.html" Christopher Evans - About the Author:

Chris Evans is an investment research analyst - a CFA and CTA, with a degree in economics from Cornell.

Questions and Answers Ask our experts your Economics related questions here... Ask 200 Characters left I'm a UK citizen and I'm marrying a filipino lady what documents do I need to take with me and will she be entitled to live in the UK once married, and will she be entitled to Uk Passport. Thank… What are the best universities in the uk ? I am moving to the UK, and my girlfriend there already has a UK-region Wii. Can I unlock her Wii and play my US games in it? Rate this Article 1 2 3 4 5 vote(s) 0 vote(s) Feedback RSS Print Email Re-Publish Source:  http://www.articlesbase.com/economics-articles/the-uk-may-be-on-to-something-5470871.html Article Tags: tax rates, corporate taxes Related Articles Latest Economics Articles More from Christopher Evans Tax rates for tax year 2007-a case for marginal relief

Tax card has been changed in the Finance Act, 2006 due to which tax leviable on marginal income has increased enormously. Although the government has taken steps to rectify the mistake in case of employees but in other taxpayers still case for marginal relief exists.

By: Muhammad Arshadl Finance> Taxesl Nov 07, 2009 lViews: 168 Singapore Income Tax 2011: Corporate Tax

Learn about Singapore Company Registration – provided and presented by Rikvin, Singapore's leading company registration firm and business solutions specialist.

By: Steve Smithl Business> Managementl Oct 24, 2011 Singapore Corporate Tax System

Learn about Singapore corporate / company income tax - provided and presented by Tax Accountants Pte Ltd. Find out about key features of the Tax Regime, Tax Rate, Tax Exemption Scheme, Productivity and Innovation Credit (PIC) Scheme, 1-Tier Corporate Tax System, Tax Deductions, Unutilised Tax Losses, Capital Allowances and Donations for companies.

By: Tax Accountantsl Businessl Jul 02, 2011 Singapore Corporate Tax: An Overview

These tax benefits make Singapore attractive to foreign investors so it does not come as a surprise that this country is fast becoming an important business hub not only in Asia but in the whole wide world.

By: Ashleyl Business> International Businessl Jan 27, 2011 Is France Really The Worst Country For Corporate Taxes?

If you are considering setting up business in Europe, France should be high on your list of strong contenders. For foreign investors considering French company formation, this article provides details of the current Corporate Tax rates plus how these can be halved or even reduced to zero!

By: Heather Landaul Business> International Businessl Nov 20, 2009 lViews: 140 Tax Software and Company Corporation Tax Return

Tax accounting software for UK companies involves business accounting software to produce the accounts combined with tax software to produce the CT600 corporation tax return.

By: Terry Cartwrightl Financel Aug 31, 2008 lViews: 524 Progressivism Isn't Progress, VIII

It sounds like "progress," but that's only one example of how they deftly make one thing look (or sound) like another in order to produce the desired emotional effect. Everyone likes progress! But few people realize that progressivism is about as far from progress as tyranny is from liberty....

By: Michael Humel News and Society> Economicsl Jan 24, 2012 Occupy Wall Street movement against financial inequality gains momentum

In order to narrow the gap between the rich and the poor, people come forward with a slogan "You are the 99 percent, we are the 99 percent." AS the American government always backed the rich people, rich become wealthy and poor become poorer.

By: annphilipl News and Society> Economicsl Jan 24, 2012 Significance of Foreign Direct Investment on Developing Countries

The foreign direct investment can increase growth in two ways. The investment increases total investment by attracting higher levels of domestic investment. Also, through interaction of the more advanced technology with the host country's human capital, foreign direct investment is more productive than domestic investment.

By: Abey Francisl News and Society> Economicsl Jan 23, 2012 Eight Ways To Avoid Survival Preparedness Mistakes When You Have Kids

Some ways to prepare your family for disaster when kids are involved. Tips to ensure your family's safety.

By: Justin Doodyl News and Society> Economicsl Jan 20, 2012 Ekol extends its block train services up to the new firm acquired in Romania

After acquiring Omega Ro, a leading name in the logistics industry of Romania, Ekol Logistics, one of the largest integrated logistics firms of Turkey, now adds Germany - Arad (Romania) line to its existing intermodal train service between Worms - Trieste.

By: Riza Sirmanl News and Society> Economicsl Jan 20, 2012 Foreigners are The Real Job Creators

Who creates the best jobs? Hint: it's not rich people or business leaders or the people (the debate is raging) - it's .. foreigners who buy our stuff. We should be showering companies that make stuff to be sold overseas with every tax break we can think of. We can pay for it all by raising taxes on imports and importers.

By: Christopher Evansl News and Society> Economicsl Dec 12, 2011 What Are The Facts?

How can we have a discussion about policy when the two parties can't agree on what's wrong or how we got into this mess? FDR never needed to explain or defend his assertions about the risks of an unregulated banking system. China doesn't allow debate about its choices regarding industrial policy. Since our politicians (either don't understand or) won't admit that some of their sacred cows are to blame -we get nowhere with regard to new policy.

By: Christopher Evansl News and Society> Politicsl Dec 07, 2011 Discuss this Article Author Navigation My Home Publish Article View/Edit Articles View/Edit Q&A Edit your Account Manage Authors Statistics Page Article Widget My Home Edit your Account Update Profile View/Edit Q&A Publish Article Author Box Christopher Evans has 3 articles online Contact Author Subscribe to RSS Print article Send to friend Re-Publish article Articles Categories All Categories Advertising Arts & Entertainment Automotive Beauty Business Careers Computers Education Finance Food and Beverage Health Hobbies Home and Family Home Improvement Internet Law Marketing News and Society Relationships Self Improvement Shopping Spirituality Sports and Fitness Technology Travel Writing News and Society Causes & Organizations Culture Economics Environment Free Journalism Men's Issues Nature Philosophy Politics Recycling Weather Women's Issues Need Help? Contact Us FAQ Submit Articles Editorial Guidelines Blog Site Links Recent Articles Top Authors Top Articles Find Articles Site Map Mobile Version Webmasters RSS Builder RSS Link to Us Business Info Advertising More Languages: Use of this web site constitutes acceptance of the Terms Of Use and Privacy Policy | User published content is licensed under a Creative Commons License.
Copyright © 2005-2012 Free Articles by ArticlesBase.com, All rights reserved. Powered by the Parse.ly Publisher Platform (P3).

View the Original article

Stand Up on Your Two Hind Feet and Do Something About Our Economy

ByJohn Waren

Our country is in a mess. I doubt that I would get many arguments about this statement. It doesn't seem to matter what side of the political isle we are on. The unemployment rate is alarming. American factories have closed and more are sure to fail in the near future unless we do something to change it. The one thing that we all should agree is that something needs to be done. Since the vast majority of us are not politicians, nor are we closely connected to Washington. It seems that we can't make a difference. Our voice just isn't being heard by those who are supposed to be representing us. So often, while having a discussion at the proverbial office water cooler or with friends out on the patio around the fire pit, one statement rings load and clear; we've got to stand up and do something! Unfortunately, we find ourselves in a position of wanting to do something, but not knowing what to do or where to start.

So where do we start? Some people join the military to help. Men and women are enlisting in the army, navy, air force, marines, coast guard and special services to do their part in protecting and serving our country. Other people are trying to help by getting involved in politics and by running for local and state offices to make their voices heard and help make major economic decisions. If joining the military or running for office is not an option that you can realistically do to help our country, there is something that every single American can do to help protect and serve our country that is not necessarily easy, but certainly do-able. There is something that each person can do that will make a positive impact on a grand scale. What is this "something?" What is this secret? What can you do to help? You can buy American and you can start doing that today.

The economy is at an all-time low, and the unemployment rate is staggering. It is natural for us to worry about the future. Believe it or not, Washington D.C. and the government are not the only ones that have power. You and I, every single man and woman living in this country, have the ability to overpower the policies and practices that are completely out of control. We must join together and take control over how we spend our money. As you already know, money is power, so let's take a stand and keep our money where it belongs--right here in the USA. If you think it is out of our hands, think again. It all starts and ends with you and I. Buy American.

What does it mean to buy American? At the most basic level, it means that when we go grocery shopping every week, we should only buy fruits, vegetables and other foodstuffs and products that are grown, produced or manufactured in the United States of America. By making it a point to not purchase imported goods, we are saving jobs here at home and even helping to create new jobs. From the pickers to the packers to the shippers to the sellers, we are keeping the economy going and the money flowing. Clearly, with so many of the goods coming from counties that literally hate us, this is easier said than done. It is actually a chore to sort through and find labels that state "made in America". While it takes a bit of a commitment and effort, the reward will be great.

Buy American also means that when you buy anything from automobiles to gasoline to hardware to home furnishings to clothing to toys and everything in-between, you buy only the products that are made by people just like you and me, people who are hard-working Americans. Imported goods may be of fine quality fashionable but what is the price that we pay when we stop buying our own goods and services? The answer to that question is that our factories close, our workers get laid off and the value of the American dollar plummets. Is it really worth it to buy an import when you look at the big picture?

When we shop for a gift for any occasion, or purchase something special for someone else, remember to buy American. If every person in this country makes this change, everything will change--for the better. The sooner we start thinking this way and more importantly the sooner we start buying this way, the sooner we can expect to see the results of our pro-American thoughts and actions.

Additionally, we can make our travel plans and vacation's in America. See the sights at home. I am personally making a list of each tourist site in America that I haven't visited. There are plenty right here that I haven't enjoyed. Let's spend our money on our airline tickets, in our hotels, and at our tourist attractions. When we visit places in the United States of America, we stimulate our economy while enjoying the magnificent landscape and proud heritage and history of our famous land we call home.

To paraphrase one of our late great Presidents, John F. Kennedy, now is the time that we must ask ourselves not what can our country do for us, but what can we do to save our country. Once again, the answer to that question is; stand up on your two hind feet and buy American.

John R Waren is owner of Waren Enterprises, LLC and operates an online retail site for the outdoor firepit enthusiast. Bonfire pits, firepots and firelights.

Buy American Challenge - http://buyamericanchallenge.wordpress.com/challenge-guidelines/

Grassroots Buy American - http://wp.me/p1XB0o-9z

Article Source:http://EzineArticles.com/?expert=John_Waren

Did you find this article helpful?00111Get Involved0 commentsSuggest a topicArticle ToolsPrint this articleE-mail to a friendEzinePublisherReport this articleCite this articleStay InformedGet notified by email when new articles are added to this category or written by this author.Subscribe to New Article Alerts:

News and Society: Economics
John Waren

Email Address:SubscribeEconomics Article FeedFind More ArticlesSearchRecent ArticlesHow To Solve The Homeless SituationProgressivism Isn't Progress, VIIIHow Secure Is Your "Secure" Job?A True Comparison Of Increasing Debt Between Bush And Obama AdministrationsHow To Compete With ChinaWould Einstein Think Us Insane?What Will Happen If Greece Defaults?A Cluster of (Minor) ErrorsThe US Recovery Is Producing SurprisesA Sigh Of Relief For The Economic Status Of The USSubmitted On December 15, 2011. Viewed 19 times. Word count: 913.

MLA Style Citation:
Waren, John".".15 Dec. 2011EzineArticles.com.26 Jan. 2012 .APA Style Citation:
Waren, J. (2011, December 15). . Retrieved January 26, 2012, from http://ezinearticles.com/?Stand-­Up-­on-­Your-­Two-­Hind-­Feet-­and-­Do-­Something-­About-­Our-­Economy&id=6761294Chicago Style Citation:
Waren, John "." EzineArticles.com. http://ezinearticles.com/?Stand-­Up-­on-­Your-­Two-­Hind-­Feet-­and-­Do-­Something-­About-­Our-­Economy&id=6761294EzineArticles.com© 2012 EzineArticles.com
All Rights Reserved Worldwide

About UsFAQContact UsMember BenefitsPrivacy PolicyShopSite MapBlogTrainingVideo ArchiveAdvertisingAffiliatesCartoonsAuthorsSubmit ArticlesMembers LoginPremium MembershipExpert AuthorsEndorsementsEditorial GuidelinesTerms of ServicePublishersFollow UsTerms Of ServiceEzines / Email AlertsManage SubscriptionsEzineArticles RSS

View the Original article

Rangel: “Jesus Would Have Something to Say” About the Debt Debate

Congress The latest from Capitol Hill Days to Decide (2010 Election)2010 ElectionPower PlayHealth CareLibyaCapitol hillBudget 2012 ElectionPresident ObamaDays to DecideSenatePentagonEconomySupreme Court Archives » July 2011 (46)June 2011 (210)May 2011 (291)April 2011 (222)March 2011 (267) February 2011 (247)January 2011 (259)December 2010 (283)November 2010 (383)October 2010 (325) Political Events Calendar Poll Take Our Poll(polls) Social Networking

Obama's Mission to Mars... Or Something Short of It

e've set a goal to-- let's ultimately get to Mars," the president said. "A good pit stop is an asteroid. I haven't actually -- we haven't identified the actual asteroid yet, in case people are wondering," he added to laughter.

The president's mission to Mars idea isn't new-- he unveiled it last year-- but the timing of the Twitter question couldn't be more relevant.

"Now that the space shuttle is gone, where does America stand in space exploration?" the president was asked.

The president said he's been urging NASA to re-think its way of doing things.

"We're still using the same models for space travel that we used with the Apollo program 30, 40 years ago. And so what we've said is, rather than keep on doing the same thing, let's invest in basic research around new technologies that can get us places faster, allow human space flight to last longer," he said.

The future of low-orbit space travel is expected to fall to private companies and U.S. astronauts may have to hitch a ride on Russian capsules, but those ventures have become routine, Mr. Obama said, and he urged NASA to broaden its horizons.

Still, the president indicated it's important not to underestimate America's stature in the final frontier, telling the town hall, "We are still a leader in space exploration."

 

Filed In White House  Print  Email  Share   Comments  Recommend Tweet You must login to comment.View the discussion thread. Politics Headlines California Moves to Control Health Insurance RatesObama Violated ACORN Funding Ban With HousingCourt Orders Immediate Halt to Gay Military BanWhite House Willing to Keep 10,000 U.S. Troops inKyl: Republicans Agree to Revenue Increases in Our Contributors Contributors Choose contributor to read posts Choose an authorAdam HousleyAlicia AcunaAmanda MarshallAnita SiegfriedtAnita VogelAnne Marie RihaAnne McGinnApril GirouardBen EvanskyBeth SullivanBret BaierBrian HaefeliBrooks BlantonBryan BoughtonCarl CameronCaroline ShivelyCatherine HerridgeCatherine LoperChad PergramCherie GrzechChris StirewaltColleen WilliamsCraig SavageCristina CorbinDan SpringerDaniela SicuranzaDavid Lee MillerDavid LewkowictDenis KingDominic Di-NatalieDominique PastreDoug LuzaderDoug RohrbeckDouglas KennedyElena IsellaElizabeth PrannEric ShawnErin VogelEve ZibelFaith ManganGardbGarrett TenneyGrace CutlerGreg PalkotJacqueline PhamJake GibsonJames RosenJames SprankleJamie ColbyJamie NelsonJason DonnerJennifer GriffinJennifer SuzaraJim AngleJim MurphyJodie CurtisJohn BoswellJohn BrandtJohn L. Wallace IIIJonathan HuntJonathan SerrieJonathan WachtelJoy LinJudson BergerJulie BanderasJulie KirtzJustin FishelKathleen FosterKelly ChernenkoffKelly David BurkeKelly WrightKendall GasteluKimberly SchwandtKris GutierrezKristin BrownL.A. HolmesLacey HalpernLaura IngleLaura PrabuckiLauren GreenLauren PickLee RossLeland VittertLexi StempleLindsay StewartlynchdMaggie KerkmanMarla CichowskiMary Quinn O'ConnorMeaghan LeisterMegan Dumpe KenworthyMichelle MacalusoMike LevineMike TobinMoira HopkinsMolly HennebergMolly LineNancy HarmeyerNicole BuschOrlando SalinasPaige DukemanPaige KollockPatrick ManningPatrick SummersPete GriffinPeter DoocyPhil KeatingRick LeventhalRobert LeeRose AstorinaRuth RavveSarah CourtneySerafin GomezShannon BreamShayla BezdrobShira BushStephen ClarkSteve BrownSteve CentanniSteve HarriganTrish TurnerVaruna BhatiaWendell GolerWes BarrettWhitney KsiazekWilliam LaJeunesse Featured Contributors »