A compulsory contribution to government for facilities or services, typically levied upon income, goods, services, and transactions.
Generally speaking, a modest increase to the minimum wage will increase household spending and thus stimulate the economy. However, this can be offset by job loss or hour reduction, inflation, and other factors.
In America we have a Progressive Federal Income Tax system broken down into “tax brackets”. Tax Filers pay the “marginal tax rate” on each dollar of income in a given bracket (after most deductions, but before tax credits).
Over half of American families pay little to no federal income tax after tax credits and deductions. Payroll taxes, excise taxes, and sales taxes hit the average American the hardest.
Below we explain neoliberalism, globalization, nativism, and protectionism and the pros and cons of neoliberal globalization and nativist protectionism.
Below we present an annotated version of Andrew Carnegie’s 1889 essay Wealth (better known as the Gospel of Wealth).
We examine political and economic inequality in terms of their effects on society, such as the social unrest that led to historic revolutions like those of Athens, Rome, France, and even America.