...occupied trying to find a solution to an important problem that has “unexpectedly” knocked them out and they are quickly running out of time. The truth is that there has been found of huge gap in the Erie County’s budget. The truth is that now everyone is blaming the shortage on anything they can think of, but the solution is not being approached by such behavior. The 2005 budget shortage in the amount of 130 million dollars is a hard hit. Local legislators are trying to try to persuade the masses that the only way to restore the loss is by getting it from other budget components, and raising taxes. It is obvious that the inability to manage money that they showed, inability to come to a firm conclusion have influenced the lives of ordinary American people and its economy. The important issue that is being discussed now is the proposal to save budget founds by closing libraries, therefore cutting the expenses in the sphere of education. This does not seem a suitable runout for any New York resident. The motivation of this decision presented by Joel Giambra and local legislators is connected with the necessity to revise cost of Medicaid and other gaps that need to be filled in. After this unprofessional work they performed how do they expect New Yorkers to believe that they will direct tax dollars right this time? And the other truth is that their professionalism is under a big question mark. Closing libraries means prevent people from self-development and the cultural development...
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...Income Inequality in America: An Analysis of Policies from Reagan to Obama and What Policies Can Help Close the Gap Income inequality in America has been of great importance in recent election cycles. Candidates from both sides of the political aisle have addressed the growing economic and social concern of increasing income and wealth inequality throughout the country. However, policies to address this growing concern are vastly different. This paper seeks to examine policies from Reagan to Obama that contributed to today’s massive income and wealth inequality. Was it tax reform throughout the 1980s and 1990s that contributed to inequality? Did the Federal Reserve perpetuate policies through massive quantitative easing that led to...
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...system or transmission by any means for commercial purposes, requires permission from the Unnayan Onneshan. For orders and request, please contact: UNNAYAN ONNESHAN 16/2, Indira Road, Farmgate Dhaka-1215, Bangladesh Tell: + (880-2) 8158274, 9110636 Fax: + (880-2) 8159135 E-mail: info@unnayan.org Web: www.unnayan.org Bangladesh Economic Update, November 2013 Page | 2 1.INTRODUCTION This issue of Bangladesh Economic Update probes into the tax system of Bangladesh in the backdrop of falling investment, missing revenue target and growing pressure on revenue. This issue of Bangladesh Economic Update probes into the tax system of Bangladesh in the backdrop of falling investment, missing revenue target and growing pressure on revenue. Bangladesh has comparatively lower tax to GDP ratio, even compared to most of its South Asian counterparts. For example, tax to GDP ratio in Bangladesh was 6.74 percentage points lower than India in FY 2012-13. The gap between the total expenditure and total revenue is increasing over the years. If the same trend continues, it can be anticipated that the gap may become further wider to Tk. 558.5 billion in FY 2013-14 from the targeted Tk. 550.32 billion. The budget deficits...
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...the widening gap between rich and poor has sparked social and political issues around the world (Treanor, Oct 13, 2015). The gap between rich and poor has grown larger in last few decades, and the problem is getting worse (Treanor, N.P). The reason why the widening gap between rich and poor is a problem is that the wider gap often lead to greater inequality among people, yet society has not found a way to solve this inequality (Treanor, Oct 13, 2015). To make it easier to demonstrate how income difference results in social inequality, CEOs, for example, who gives workers minimum compensation, work in top floor of high rise office buildings where they can overlook an entire city, whereas some people work more than 40...
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...Tax Revenues and E-Commerce Table of Contents: i. Introduction ii. E-Commerce iii. Internet Tax Freedom Act (ITFA) iv. Amazon and “Amazon Tax” v. State Budgetary Gaps vi. Conclusion vii. Appendix a. Colorado House Bill 10-1193 b. State Budget Gaps and Uncollected Tax Revenues c. Regression Analysis i. Graph 1.1 ii. Graph 1.2 iii. Graph 1.3 viii. References Introduction It was May of 1984 in Gateshead, England when Tesco recorded the first ever-online shopping transaction from a home . Tesco is the second largest retailer in the world after Wal-Mart, based on profits . This single transaction would pave the way towards a society that relies on the virtual store as opposed to a traditional brick and mortar setting. The convenience and accessibility that the virtual market provides has consequently provided inconveniences in other areas. State and federal governments have been steadily suffering from budget short falls. E-Commerce has diverted business from the mom and pop stores to companies such as Amazon.com and Overstock.com. Small businesses have closed and the land that they once occupied now sits vacant, with no one paying the respective land and sales taxes that the business once generated. The closing of smaller, local retailers has, in retrospect, paved the way for the expansion of e-commerce and the exponential growth that has been realized over the last decade. Current legislation and lack of regulation have limited the potential for federal...
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...Numerous broad-minded individuals today accept the factor that every person, regardless of gender, should be seen equivalent as their fellow counterparts in society. In spite of members of society being increasingly tolerant of the changing times, there are still issues faced by society towards the factor that all are not being treated equally. Although, in the current state of America it's at the most progressive time in the history of the nation, however, there is no denying in the fact there are borders for gender equality that is present. Throughout the passage of time, the growth of women entering the workforce has drastically expanded since the early twentieth-century. Along with the numerous of people from the Transgender community...
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...The gap between rich and poor Since 2008, the investigated bank, Lehman Brothers has gone bankrupt. It was one of the most significant turning points of the economic crisis of 2008. Because of the economic crisis, the economy of the U.S. has begun to fall. Even though wealthy people lost some of their profit due to the economic crisis, it doesn’t affect a lot for their property. Poor people are most affected by the economic crisis. They have to face a lot of problems, including unemployment and low wages. The economic crisis increased a large gap between rich and poor. In the article, “The Growing Gulf Between the Rich and the Rest of Us” written by Holly Sklar, she agreed that there is a gap between the rich and the poor, and it is rising now. Her argument is strong towards the fact that poverty in America is on the rise. In addition, she mentions that while the poverty is growing, the wealthy people are also on the rise. Sklar is surely right about the gap between the rich and the poor. It is a significant issue for us to know about such inequality. During hard times, the rich still can have their benefit. However, the people who really need money cannot get any help from the rich. While economic inequality has existed over time and occurs in more nations than simply the United States. Some balanced and fair intermediary institution is required to solve the growing problem of debt and poverty in the nation. There is much evidence that proves the growing gap between the rich...
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...qwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmrtyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmrtyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmrtyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmrtyuiopasdfghjklzxcvbnmqwer...
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...threatens egalitarian values. The wealthy are not paying their fair share of taxes, they receive better treatment in court, and the law favors them the majority of the time. To make things worse they also receive better political representation when it comes to dealing with social issues. These political benefits are given because the wealthy contribute heavily to political campaigns. It is given that the wealthy are better informed about politics than the poor, which makes them politically active. The poor on the other...
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...by Pew research center it has also been noticed that those who do affiliate with a party are now leaning more to either side of the political spectrum (Democrats are more liberal, left side and Republicans are more conservative, right side). Sociological factors- age, religion, sex and race- are some of the the main causes for the gap. For instance “there is now a 10-percentage-point gap between Americans ages 50 and older and younger Americans”. This means that people over the age of 50 tend to be more conservative compared to those under the age of 50, which tend to be more liberal. This gap along with the others are at their highest, making issues more conflicting. According to The Washington Post these gaps will have big implications for the 2020 elections. It will affect the way independents vote as well as stances parties take, for instance, it will be hard for “any Democrat seeking the nomination not to support some kind of single-payer health-care plan". The motive for this shift in attitude, apart from the sociological factors, is thought to have been because of President Donald Trump’s election and resentment toward his stance on some issues. These sentiments will play a big role in the 2020 elections as the Democratic party must not just be anti-Trump but must also have new policies if they want to win. Hence the wider division, partisanship is expected to get worse in the upcoming general elections: off-year election (congressional elections) and presidential election...
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...Report on issues concerning consolidated financial statements The following report deals with the issues and problems concerning the consolidated financial statements. The first concern was about the meaning of deferred income taxes and deferred tax assets. As you know, the accounting income in income statement may be not equal to the taxable income in tax reporting. This can be explained by the fact that the rules in accounting and in tax regulations may differ. Often differences in the timing of the recognition of revenues and expenses occur. These differences lead to a gap between tax payable and tax expense and create temporary differences. A temporary difference is called taxable when it creates a future amount of tax payable. It is called deductible on the opposite side. IAS 12 requires that these temporary differences be recognized in the balance sheet using the Balance Sheet Liability method. Under this method, for each asset and liability a comparison is made between the tax base, i.e. the amount associated for tax purposes, and the amount recorded on the balance sheet. Then, temporary differences are recognized. For example, in the case of a deferred income tax, the amount on the balance sheet is greater than its tax base. So tax expense exceeds tax payable. Thus, a taxable temporary difference appears. In the income statement, a liability equal to the amount of this difference is recorded as a deferred income tax. On the contrary, a deferred tax asset occurs...
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...scrutiny. Recent events in Kenya have cast a disturbing light on the depth and complexity of social distress in the country. The conflict arising from the disputed presidential elections has roots in inequality, poverty, poor governance and a host of other issues. However the major underlying issue is clearly the perception of deliberate unfairness and inequality in the distribution of national resources. However it can also be argued that beyond the real biases in resource allocation is the widespread failure of the State due to deliberate policies of retreat compounded by unchecked corruption. Poverty has progressively deepened as the state has reduced its provisioning of social services. This retreat of the state has been coincident with the slow and persistent decline that characterized the country’s economic performance from the 1980’s until the turn of the century. Thus narrowing economic perspectives due to declining economic growth, deepening inequality and pauperization due to Structural Adjustment and the arbitrary ravages of corruption have combined to create a multidimensional social crisis. The DPMF’s research on Social Policy Development and Governance has hinted at the inherent dangers of the ever yawning gap between the elite and marginalized majority in this country. Public policy has failed to gauge the...
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...All great things must come to an end. The United States of America has humble beginnings, similar to Rome’s origin story. The United States started off as an underdog, working against Great Britain. The idea the Romans had of their origin was that twins Romulus and Remus were raised by a she-wolf. The change from starting off animalistic then becoming a civilization in itself is a difficult task. USA is following the same collapse as Rome formerly did. Some of the issues they have in common are the economic issues, the need for constant vigilance, and all the power being shifted to the Executive Branch. America and Rome, both have a non-existent middle class. This means America is “worsening an already invidious class divide.” When Rome...
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...Urban-rural Rising Income Inequality in China As a developing country, China is trying to develop its economy and solving the threat of poverty since the economic reform. As a well-known economist Arthur Lewis said that "development must be inegalitarian because it does not start in every part of the economy at the same time" in 1954 (Lewis, 1954). It is also true for China. The income inequality issue between poor and rich increased faster, which has a negative impact as China tries to become a more stable society. The gap between rich and poor is caused by complex factors. This paper is intended to discover and explain the issue of income inequality through urban-rural gap, and also give some suggestions according to today’s situation. Historical Analysis In pre-reform, China is very poor and has about 90% rural population (Knight et al., 2004). At that time, Gini coefficient measure income distribution is 0.280 (0 means perfect equality, and 1 means extreme inequality) (Naughton, 2007, p.217), which shows that Chinese people has almost equal income across the whole republic. Although it is good to show China is “one of the most equal countries in the world”(Naughton, 2007, p.217), the truth is that everyone is equally poor at the same time. In order to decline poverty and connect the new republic to the world, the Chinese leader Deng Xiaoping institute market reform and said “let some people get rich first”(The economist, 2001). Since then, China has maintained rapid growth...
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...Since the recession that began in 2008, the issue of income inequality has been a central tool of political strategizing. Progressives have used the issue as a sword against conservatives, accusing the latter not only of indifference toward the plight of working Americans but of actually welcoming the widening gulf between rich and poor, as if conservatives want nothing more than to see the wealthy become wealthier, even if it is at the expense of the poor. At the same time, however, conservatives have shied away from the issue, perhaps afraid of how the issue might feed the big-government agenda of liberalism. Even though they have had a sympathetic ear in the White House for fifteen of the past twenty-three years, progressives have used the inequality issue to put conservatives on the defensive, blaming them for the failure of the middle and working classes to match the progress made by the upper income groups. This assault against conservatives has been deceptive and distorted, but at the same time conservatives have often retreated by trying to dismiss the extent of the widening income gap. The inequality issue is not the simple problem the left makes it out to be. The left argues that inequality is the cause of all other economic woes, specifically a diminishing upward mobility. But in reality, it is just the other way around. Inequality is less a cause than a symptom of our economic woes. The widening income disparity is a result of diminishing upward mobility, which...
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