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January 26, 2006
No Hesitation
To the proposal that America bail out our failing auto makers, Bush has replied with bold, market-racket-esque reproach:
General Motors Corp. and Ford Motor Co. should develop "a product that's relevant" rather than look to Washington for help with their heavy pension obligations.
Phew.
Posted by Michelle Smith at 09:06 PM | Comments (0)
January 16, 2006
China's Ballooning Cushion
Sometimes riches don't always lead to happiness. As the news about China's massive amount of foreign currency reserves hits the presses this weekend, peeved U.S. economists are banging louder than ever on the country's door.
Posted by Michelle Smith at 05:51 PM | Comments (0)
January 11, 2006
Flat Tax Experiment
The IMF has published a breakthrough report on great results following a controversial move by Russian tax authorities. About 5 years ago, Russia cut through its tangled web of income tax brackets and simplified legislation to tax everyone (essentially) equally at 13%. Considering the former range of brackets extended from 12% to 30%, this was a very low choice and led to speculations that the Russian government's income would be a lot less than in former years.
Turns out that Russia actually raised collections by 26%. What great news: people were taxed at lower rates, but somehow the government ended up with more cash in their pockets. With such a pot of gold in sight, neighboring central Asian and Eastern European countries are now scrambling to implement similar measures.
Posted by Michelle Smith at 09:23 PM | Comments (0)
January 04, 2006
The Grassroots are Greener on the Other Side of the Boardroom Wall
When it comes to China-related issues, grassroots companies are turning away from campus lawns and charging into corporate boardrooms.
Posted by Michelle Smith at 07:27 PM | Comments (0)