Increasing taxes does not necessarily lead to higher income tax revenues for the Federal government according to a study by The Heritage Foundation: Source: 2011 Budget Chart Book, The Heritage Foundation
China and India are two of the largest emerging markets in the world. With rising middle-class and increasing wages, the countries are experiencing tremendous economic growth. However in terms of overall growth, India still lags behind China in most metrics. This is despite India being the world’s largest democracy and China being a communist state …
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Sovereign debt defaults has become a topic of investors’ worry in the past few years. Some of the European countries such as Greece, Spain, Italy, Portugal, etc. are suffering from fiscal issues and may default on their debts. At the height of the credit crisis some suggested that the US may have to default should …
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Transfer payments are government payments to individuals in the form of social security, unemployment benefits, disability benefits, food stamps, etc. Some of these payments are big expenditure for the government and have increased in recent years. For example, food stamp expenditures totaled $64.7 billion for the fiscal year ending in September 2010 and is projected …