"Pay their fair share of taxes" Biden asks of corporations showing 2017 predecessor tax cuts did not increase investment and added $100 billion yearly to the US Deficit

03/08/2024

By paying their fair share of taxes Biden says in State of Union speech to US Congress 2024 one can increase investment in education, affordable childcare and better living for seniors in their homes, and still cut the deficit by hundreds of billions of dollars. What is fair share? Certainly not zero percent that 55 of the largest corporations paid on $40 billion in profits in 2020, and corporate minimum tax was introduced at levels of 15% for which most ordinary Americans are not eligible for. And certainly not 8.2% that Biden said was being paid by 1000 billionaires in the US. Not a single penny more is being asked of hard working Americans earning less than $400,000 a year. Biden said he wanted to see the corporate minimum tax at 21% not 15%, and the top corporate tax rate set at 28% not the 21% that it was reduced to in 2017 from 35%. In short his predecessor turned to help companies and billionaires profit from the popular distress of the shipping of jobs overseas and the 2009 financial crisis caused by Bank executives without investing the nation's capital resources in manufacturing at home in scale to match and exceed China's. And at the same time neglecting to do anything about the concerns of the people for ease of living- affordable access to childcare, preschool education, education, health care to match Europe/China/India in quality and cost, and aging transportation infrastructure of airports, subways, roads and bridges. The savings when this is done properly go to cut the deficit by over 4 trillion dollars and keep America as the leader of all G-20 economies.

Linked Articles

Biden Draws Sharp Contrast With Trump in State of the Union

WSJ 03/07/2024

Ken Thomas, Tarini Parti

WSJ 03/07/2024

Andrew Restuccia, Andrew Duehren, Richard Rubin

Try hard but not too hard-cutting yourself some slack improves health and concentration, the Andy Grove principle for slack in your work routine reinforces this

09/15/2023

People forget that this applies to sports athletes and high achieving people. Andy Grove, founder of Intel and of Silicon Valley, believed in keeping some slack in his work routine and schedule. He left Hungary in 1956 after the Hungarian revolution and Russian invasion as a refugee, and graduated first in his class in the City College of New York in chemical engineering 3 years later. In 3 more years he obtained a PhD from UC Berkeley. In his book Output Management he says productive arrangement is one that keeps slack in the way that highway planners know that having too many cars compared to capacity means everything comes to a halt. In his daily work he always believed in having some slack. Today people pile on work upon work forgetting these basic principles. The other principle is leveraging of activities which is where the output comes from. To leverage effectively concentration of mind is needed and a chance to reflect and think, which requires slack and slack that adds additional time for healthy living that aids mindfulness. This adds to Motivation and Training which Grove says affect Output. To do this requires some slack to think and reflect and healthy lifestyles that power this process. This is also why the competing styles today show contrasts between those of Boeing's top managers and Stellantis managers similar to Grove and Musk's style for Tesla also shown in WSJ in the last few months being just the opposite.

Linked Articles

Burnt-out from work? Try following Hugh Jackman’s 85% rule

The Guardian 09/15/2023

WSJ 09/11/2023

Rachel Feintzeig

Clean drinking tap water for every home - the stark contrast between China and India

04/05/2023

What this tells one is that GDP requires a new indicator which is Quality GDP which will mean that if you pollute rivers and air then real GDP as an economic concept is totally inadequate even useless, unless one subtracts from that economic GDP number the amount of investment it would take to clean up the rivers or the air. If regulatory agencies cannot control industries from polluting rivers, the case in China, then an additional number has to be subtracted from economic GDP called regulatory deficiency adjustment. The GDP numbers were gained through indiscriminately burning fossil fuels and this means climate change damage so that to be correctly stated China's GDP number would have to be offset by deducting the adjustment for trillions of dollars in climate change correction action. This would shrink the gap between India and China's GDP to where India may be in a position using advanced technology, renewable energy, regulation, and large foreign investment to close the gap with China in the next 10-15 years. China could also benefit because of the new approaches taken by India could be something to learn from as the two countries each have the population of the EU and the US+ Canada combined.

Linked Articles

In China, the water you drink is as dangerous as the air you breathe | Deng Tingting

The Guardian 06/02/2017

Hindustan Times 04/05/2023

Armies of accountants, lawyers, financial experts and the problem of tax evasion, money laundering, that reaches $3.6 trillion worldwide

10/06/2021

Years of revelations have not changed the way the system operates. Inertia is instituionalized and the political system is available for hire, says a professor at the University of Sheffield.

Linked Articles

Too big to jail: why the crackdowns on dodgy finance have been so ineffective | Prem Sikka

The Guardian 10/06/2021

NYTimes.com 09/19/2021

Jesse Drucker, Danny Hakim

Biden's Address to Congress 2021

05/05/2021

Biden announces his $1.8 trillion Families Plan in his speech to Congress in April 2021. It is meant to help struggling families, women, workers and students.

Linked Articles

Biden’s Speech to Congress: Full Transcript

NYTimes.com 04/30/2021

NYTimes.com 04/30/2021

Nailah Morgan, Lucas Lilieholm

Luckin Coffee a China startup for aspirational coffee drinkers- billions of dollars in investment that never reached infrastructure and health services,and huge losses

06/13/2020

Linked Articles

China’s Changing Tastes Offer Upside for Coffee

WSJ 06/13/2020

Lucy Craymer

WSJ 06/13/2020

Finances stretched to limit by trillions of dollars in coornavirus aid packages and tax revenue from digital

05/15/2020

Linked Articles

Analysis | Why Digital Taxes Are the New Trade War Flashpoint

Washington Post 05/15/2020

France 24 05/15/2020

How the Democratic Party lost its blue collar working class identity to the Republican Party by 2018

07/20/2018

Linked Articles

Donald Trump is causing change in the Democratic Party too

The Economist 07/20/2018

WSJ 07/19/2018

Bob Davis, Dante Chinni

The Trump 2017 Budget with $2.1 trillion counted twice and rosy estimates- accounting error, shifting priorities and economic-political risks

05/23/2017

Linked Articles

Donald Trump’s Balanced Budget Goal Rests on Questionable Math

WSJ 05/23/2017

Nick Timiraos

WSJ 05/23/2017

Peter Nicholas, Kate Davidson, Nick Timiraos

2016 U.S. presidential candidate Jeb Bush's Tax Plan that spells out details, and takes a shot at 4% growth for restoring lost social and economic mobility in the U.S.

09/09/2015

The efforts to wrestle with the deficit in 2011-2012 led to a vigorous debate on changing the tax code, yet political leaders failed to take up new ideas or spell out the details. Jeb Bush, with advisors Martin Feldstein and Kevin Warsh, takes the unconventional approach of putting in the details, and taking up ideas such as the idea of limiting itemized deductions to 2% of adjusted gross income proposed by Feldstein in that debate. On the $2.1 trillion in income held overseas by U.S. companies Bush proposes 8.75% tax paid over 10 years. On business investment he proposes capital investment be allowed to be deducted in full immediately. It is based on the idea that business investment can drive a vigorous recovery, that workers bear 50% of the burden of higer taxes through sluggish wage growth. It levels the playing field for debt and equity capital, removing "carried interest" provision, as a lesson from the excessive leverage taken by financial institutions in the past.

Linked Articles

The Bush Growth Plan

Wall Street Journal 09/10/2015

Editorial

New York Times 09/09/2015

Alan Rappeport, Alan, Rappeport, Matt Flegenheimer, Matt, Flegenheimer

The case for a minimum wage for U.S. workers with families to support- how Australia approaches the issue taking into account the median wage

12/31/2014

Australia's minimum wage is 54% of the median wage, compared to 38% for the U.S., according to the OECD. Australia's wage setting body sets the minimum wage for workers over 20 years of age, and takes into account the median wage in the interest of fairness. Workers with families to support need the Australian minimum wage of 16.87 Australian dollars ($13 U.S.). All of this money goes into consumer spending providing an immediate boost to the economy.

Linked Articles

Australia Weighs Whether Its Minimum Wage Is Too High

Wall Street Journal 01/26/2015

Rachel Pannett, Rachel, Pannett

New York Times 12/31/2014

Rachel Abrams, Rachel, Abrams

Tim Cook's effort to fill the role played by Steve Jobs at Apple, and fill in gaps where Jobs could have done more

06/15/2014

Linked Articles

Tim Cook, Making Apple His Own

New York Times 06/15/2014

Matt Richtel, Matt, Richtel, Brian X. Chen, Brian, X., Chen

New York Times 06/16/2014

Brian X. Chen, Brian, X., Chen, Matt Richtel, Matt, Richtel