‘The modern poor are not pitied but written off as trash. The twentieth century consumer economy has produced the first culture for which the beggar is a reminder of nothing.’
(UK Art Historian John Berger)
How does this work with ‘In God we trust’ ?
Nordic American Tanker Shipping’s 4Q10 Report; The Company Remains Highly Committed to Its Dividend Policy and …
HAMILTON, BERMUDA–(Marketwire – 02/14/11) – Nordic American Tanker Shipping Ltd. (NYSE: NAT – News ) Link to the complete 4Q10 dividend report: http://hugin.info/201/R/1488489/423906.pdf Nordic American Tanker Shipping Ltd. (“NAT” or “the Company”) announced today that the Company has declared a dividend of $0.25 per share for 4Q10, the same dividend as for 4Q09. The …
Read more on Marketwire via Yahoo! Finance
UK govt. offers to replace debt advice
The British government says it will keep free debt advice alive after scrapping former debt advice service, the Financial Inclusion Fund, last week.
Read more on Press TV
Obama Budget Proposal: Cuts To Target Working Poor, Middle Class & Students (LIVE UPDATES)
WASHINGTON – President Barack Obama, less than two months after signing tax cuts for the wealthiest Americans into law, is poised to propose a budget to congress that attacks programs that assist the working poor, help the needy heat their homes, expand access to graduate-level education and undermine that type of community-based organizations that gave the president his start in Chicago.
Read more on The Huffington Post
Over here in the UK, the UK government is in a very similar situation having to explain why the economy is heading down the pan. The Labour Party is blaming this on the world wide credit crunch etc which to me makes sense (I say this even though I am definitely not a Labour supporter). So I don’t understand why the Republican Party is not coming up with the same reason for the problems now in the US.
IMO, it is all down to the incredibly greedy bankers who have created this massive credit crunch which is obviously affecting the terrible state of the property market and jobs etc. I personally believe strongly in capitalism but it seems to have run out of control.
P.S. I’m really hoping for some non-bias opinions here so please don’t come out with any comments like ‘Republicans can do nothing wrong rubbish’ or something similar for the democrates. Lets try and get to the truth.
Most people here agree with me that it’s the problem with world issue including foreign cheaper competition etc etc, BUT no one is telling me the reason why the Republicians are not saying in so many words ‘it’s not our fault, it’s the world ecomony that’s to blame’. I don’t hear them saying anything like this. WHY!!!!! It’s not like they have some sort of mental condition that stops them from uttering these words.
Why is everything so bad for Iceland this year? Honestly I feel so bad for them, first their economy collapses, then the Netherlands and sadly also my country (UK) hold them to ransom. And now finally this volcano goes off!
Why does everything seen to be going wrong for them?
Are we seeing the catastrophe that The Clinton Administration started and then passed to the Bush Administration ???
We are seeing that giving $300,000 loans to the poor is not the right thing and now we’re paying the price!
I am looking for some information about getting loans for people with poor credit. Can someone help me?
No, really, all this talk on TV about “the economy going bad” is a big conspiracy to get you yanks to stop blowing money. I am over here in the UK and almost every citizen here knows it’s just America stirring **** up.
Jesus, if the media said there was a pink pig sitting on Venus eating chicken, you guys would probably believe that too.
My credit is not terrible but its not real good either its like 600 i can not get a personal loan but people have told me its easier to get a motorcycle loan or finance a bike easier than a personal loan
Due to both my boyfriend and I getting laid off from our jobs this year, and some other financial hardship, my credit is pretty bad. I would really like a credit card, especially to get my credit in better shape. Anyone know who will give me a credit card?
Supply Chain Tax (VAT) is the sales tax that is assessed and collected in every stage of addition to the product or material up till end users (consumers). Individuals cannot claim VAT whilst the business community can recover it. In principle, VAT is applicable to all goods and services other than exempted. VAT is introduced in developed countries in 1980s but it was in phases. Somewhere, it is partial like GST in New Zealand is even simpler and in some countries it is thoroughly brought in like VAT in UK. A general economic view is that VAT involves the widespread of business in all phases like a business man produces an item and he himself will try to engage in storing in bulks then in the supply of the item to the end users as retailers. In this way, companies work as a supply chain and they reduced their costs and raising their margin rates. There is contradiction in the developed economies like EU and mixed economies like Pakistan. The multinationals are monopolists in under developed countries while in developed countries there is competition among them. There, the MNCs reduce their margins and supply quality products in developed areas, in poor economies; they raise their margins and evade taxes. In the second observation, supply and demand suggest that any tax raises the cost of transaction for someone. In raising the cost, either the demand curve shifts leftward, or the supply curve shifts upward. The two are functionally equivalent. Consequently, the quantity of a good purchased decreases, and/or the price for which it is sold increases.
VAT is a regressive tax that is levied on poor income earners of society. There are different systems of VAT in different regions for different goods and services (for example, postal services, medical care, lending, insurance, betting), and certain other goods and services to be exempt from VAT but subject to the ability of an EU member state to opt to charge VAT on those supplies (such as land and certain financial services). There are very high per capita incomes in EU like Germany GDP $3,440bn, PPP $36,100, Spain GDP $1,581bn, PPP $32,120, Italy GDP $2,334bn, PPP $32,210 France GDP $2,734bn, PPP $35,750 and United Kingdom. GDP $2,442bn, PPP $36,820 as compared to developing countries. In India, VAT replaced sales tax in 2005. Of the 28 Indian states, eight did not introduce VAT. Their GDP 2010 estimates Total $1.367 trillion per capita $1,124 and VAT rate is 12.5%. In New Zealand it was brought in 1986, which is currently 12.5%. It was introduced in Australia in 2000. In Canada Harmonized Sales Tax rate is 13% while his GDP $1,468bn, PPP $40,540. In United States most of the states have a retail tax that is charged to end buyer only its rate is from 0%-13%. Her GDP $14,839bn, PPP $48,400. China GDP $4,818bn, PPP $6,830 whilst there is neither GST nor VAT there is pinyin state tax.
In Pakistan GST is going to be replaced by VAT Ordinance in July, 2010 and this is the only country where student fee is also charged with tax. Government should come forward to stop corruption of 1300bn instead of earning 800bn of VAT that is being received from the same tax payers those are already paying taxes. There is neither a new mechanism to raise tax payer’s list nor they reduced corrupt ones. There is very short class of middle level people in our country that is paying these taxes poor are becoming more poor and the soaring prices of commodities are beyond the purchasing power of commons. People are worried how to live with this small income and government is imposing new tax. There is uncertainty in society, blasts are commons, deprived stock exchange, industrial zones are closed, short fall of electricity, changing of business hours in the evening, world is passing through a food crisis last but not least Pakistan has agro-economy that can’t afford this burden of VAT. This is one example of VAT suffering country there are many others like india, Brazil, South Africa. So people should comeforward to understand this system of poverty increasing of tax.
Rizwan Ahmed Bajwa
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