“Class warfare:” Lately this old term has been taking on new life as political theater, a way to rebuke Wall Street protestors, and, predictably, fodder for Fox News. According to Google, in just the last month alone, 3,870 articles have been published containing these words. Another way to express the concept of rich vs. not-so-rich is the expression, “The rich get richer and the poor get poorer.” It’s been around for a long time: According to Wikipedia, William Henry Harrison went there in 1840: “I believe and I say it is true Democratic feeling, that all the measures of the government are directed to the purpose of making the rich richer and the poor poorer.” I’m not going to take a stand on either side of the “class warfare” debate by saying that the rich do or don’t take unfair advantage of the rest of society. This is America, where we all have the potential to become rich. But I will say this unequivocally: The rich do get richer, or at least have the potential to. Let’s count the ways:
Like many newly emerging democracies, Libya didn't overthrow Qaddafi when it was bulging with youth. It toppled Qaddafi after its youth bulge matured.
Don't be fooled into believing that any tax structure is truly simple until you’re intimately familiar with the details. Complicating factors can and do and will enter any tax code that is written by people, whether it’s 9-9-9, a 17% flat rate, or any number of graduated rates.
Oct. 22 is the 25th anniversary of the landmark Tax Reform Act of 1986. Here are five important lessons to consider as tax reform creeps back onto the policy agenda.
The Administration’s decision to pull the plug on long-term health insurance in the new healthcare law offers an important lesson.
In some areas, farm labor is so scarce that inmates in nearby penitentiaries are picking crops.
Drought in the Southwest is causing a new dust bowl. How can residents adapt?
Barbie doll tattoos are stirring up controversy yet again. Mattel releases the pink-haired, tattoed Tokidoki Barbie doll, which some are calling out as inappropriate for young girls. But Barbie doll tattoos have come under fire before, and Mattel has been making dolls specifically for adult collectors for years.
Single family permits declined 0.2 percent: 76.81 percent below the September 2005 peak.
China's economy is growing faster than the numbers suggest. It could overtake the United States as the world's biggest economy even more quickly than previously thought.
Nine things that you can do today that will improve your situation and leave you as though the day that has passed has been a valuable one.
Sales taxes apply to all income, because it will be spent, eventually.