To most people who look closely, it's very obvious that when Warren Buffett proposes an inheritance tax that he is advocating for policies that helps his company. He isn't planning on giving very much of his money away in a manner than can be taxed by the inheritance tax and he runs a businesses that benefits from the tax. One way he benefits from an inheritence tax is through his life insurance companies, which benefit from the tax because their policies can be used to transfer wealth while avoiding some of these taxes. Buffett's company is also in the business of buying businesses, and when smaller businesses must be sold to pay the inheritance tax after the death of a founder the companies who systematically acquire these businesses from forced sellers end up profiting.
They say that the winners of this prize have to be awarded it while they are still alive. Perhaps the judges thought that they better give the award to the European Union while they still could.
"The Fed is buying bonds in the secondary market.
In contrast, during the German hyper-inflation, government tax revenue was as low as 1% of government spending – the rest of the spending was done by printing money with no intent to collect the taxes needed to pay for it."
"Peasants will have incentive to grow more food. They can keep and sell in the market about 30-50 percent of their harvest depending on the region," said the source.
North Korea was indeed trying to follow in the footsteps of China but was avoiding the phrase coined by Beijing because of an unfortunate quirk of the Korean language. "It won't be called 'reform and opening up' because it sounds like 'dog fart' in Korean," the source said.
It’s an InfoCision filing with North Carolina that reveals that the Diabetes Association got just 22 percent of the money raised nationally by volunteers recruited by the telemarketer in 2011. That figure isn’t found in any public filing with the IRS.
I suspect that Adam Smith's pin factory prospered because the UK had found ways to create trustworthiness. That's because without trustworthiness it's difficult to reap most of the rewards of the division of labor: if firms can't rationally trust each other, if workers and owners are rightly suspicious of each other's motives, if citizens can't trust the police, then everyone has to become a generalist. In this world, everybody makes his own pins.
The sequence is as follows: benchmark prices drop in the spot market; Chinese buyers walk away from contracts, often at the last minute; suppliers are forced to dump their defaulted-cargos in the spot market at knock down prices, further depressing the spot market; this triggers a fresh round of Chinese defaults. The spiral feeds itself, producing dramatic price corrections.