At least Britain is on board @ 0.5%…the ECB is full of sissies
Comments »FLASH: ECB Leaves Rates Unchanged
Get ready for a new homo hammer
Comments »Top 50p Tax Rate Damages UK, say Economists
Twenty high-profile economists have urged the government to drop the top 50p tax rate, which they say is doing “lasting damage” to the UK economy.
In a letter to the Financial Times, they say it should be axed “at the earliest opportunity” to boost growth.
The tax is paid at 50p for each pound earned over £150,000 and affects around 310,000 people.
Critics say cutting the top rate at a time of cuts would be “monstrously unfair” and “phenomenally immoral”.
Ministers say although the 50p rate is temporary, their policy is to first increase the income tax threshold to £10,000.
The chancellor has asked HM Revenue and Customs to look at how much has been raised by the 50p rate, but it will not be able to count this until this year’s self-assessment tax returns are in after January next year.
The 20 signatories to the FT letter include two former members of the Bank of England’s Monetary Policy Committee, DeAnne Julius and Sushil Wadhwani.
It is part of a campaign being promoted through PR firm Westbourne, which they say is funded by businesses concerned about the impact of the 50p rate.
‘Mobile people’
The economists argue that the tax rate makes is making the UK “less competitive internationally, and making us less attractive as a destination for both foreign investment and talented workers”.
They call on the coalition, “to drop the 50p tax at the earliest opportunity as part of a package of measures to stimulate growth”.
Read the rest here.
Comments »The SEC to Investigate ETF’s
Mitt Romney Unveils a 59 Point Jobs Plan
Greek Default Calculated at 88% According to CMA and CDS Markets
Quotes From EU Finance Ministers Suggesting the Euro is DEAD
Retirement Becomes Elusive As Debt Consolidation Keeps People From Retiring
Fed Seen as a Contributor of “Too Big to Fail” by Allowing Less Capital Requirements, Lower Rates, and Implied Bailout Conditions
No wonder the banks became so brazen with their business activities….
Comments »U.S. Banks Undergo a Second Stress Test and Subsequently Were Asked for Plans on Raising Capital
The stress test asked to replicate 2008 equity crash conditions. It is unclear about any plans for raising money, but the Merrill Lynch tracking stock is most likely an idea coming out of the stress tests.
Comments »G-7 Meeting on Friday May Fail to Offer Euro Debt Crisis Plan
Bond Markets Say “Fiscal Skies are Falling;” In Other Words “Borrow and Spend”
Soros: Crisis ‘Worse Than Lehmans’
Soros feels the current European situation is worse than the Lehman Bros. crisis sighting tight liquidity problems and Europe’s ability to actually handle the crisis.
Comments »Italian Bond Yields Fall for a Second Day
Short Term Funding Needs for French Banks Drops by 26%
World Markets Bounce on a Weak Dollar, Upcoming Obama Speech, and Technical Oversold Conditions
Finland Will Likely not Participate in a Second Greek Bailout if No Collateral is Provided
Debt Collapse: A Revealing Description on Today’s Debt Reality and How You Can Profit From It
Sometimes too many posts go off and many miss important opportunities to learn more about today’s events.
I found this discussion very informative. I knew a lot of the info, but the presentation and analysis opened up a new view of current events involving debt and the market place.
So for those who missed it here it is again for your learning and viewing pleasure.
[youtube:http://www.youtube.com/watch?v=tj2s6vzErqY 450 300] Comments »
