Posts Tagged ‘ Economy ’

GOP Plan To Create Jobs Fails To Create US Jobs

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The United States economy is failing not into a recession, that is our current economic condition, but into a depression.  The failure of the ‘trickle down economics’, removing regulations and opening Free Trade Agreements with China has reared its ugly head.  Now the GOP is promoting its “job creation plan” which will only make matters worse for the middle class and create an substantial economic class society. Here are some highlights of the GOP Plan (read full proposal here): Require congressional review and approval of any government regulations that have a significant impact on the economy or burden small businesses. Audit existing...

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1 in 8 Americans Have Contemplated Bankruptcy

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Nearly one in eight Americans – 13 percent – have either filed or considered filing for bankruptcy, according to a new survey by FindLaw.com, a popular legal information website. The FindLaw.com survey found that people between the ages of 35 and 54 are 50 percent more likely to have considered filing for bankruptcy than people ages 18-34 or 55 and older. People of retirement age (65 and older) are the least likely to have considered filing for bankruptcy (7 percent). More than 1.5 million Americans filed for personal bankruptcy last year, according to the National Bankruptcy Research Center. That’s...

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Are Socialists Happier Than Capitalists?

Driven by a decline in satisfaction with work life and family life, overall well-being initially plummeted in countries directly affected by the fall of the Iron Curtain, reveals an important new study. The research, forthcoming in the August 2009 issue of the Journal of Economic Behavior and Organization (Richard A. Easterlin. â’Lost in Transition: Life Satisfaction on the Road to Capitalism,â’), expands our understanding of the correlation between happiness and democracy â” and whether economic concerns outweigh political reforms in their impact on subjective well-being. â’Although one might suppose these questions are of interest â” some might even say...

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President Obama’s First Address

Following are excerpts of President Obama’s address to the joint session of Congress: “While our economy may be weakened and our confidence shaken; though we are living through difficult and uncertain times, tonight I want every American to know this: We will rebuild, we will recover, and the United States of America will emerge stronger than before. “The weight of this crisis will not determine the destiny of this nation. The answers to our problems don’t lie beyond our reach. They exist in our laboratories and universities; in our fields and our factories; in the imaginations of our entrepreneurs...

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The Stimulus Plan :: Basic Overview

Here is a basic overview of the stimulus plan. You will notice some are not going to affect or stimulate the economy at all, just a bunch of pork. First-time homebuyers purchasing a home before Dec. 1 will receive a US$8,000 tax credit. While this would in theory support the housing industry now, the tax benefit will not be realized until 2010, making it likely that potential homebuyers will wait until the last minute before making a purchasing decision. The US$1,000 child tax credit will be extended to more taxpayers who typically do not earn enough to pay taxes,...

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