Value-Added Taxes or VATs

Value-Added Taxes are hidden means for government to raise taxes, in addition to any heavy income taxes that they may be imposing.

                     

That’s because the masses are never fully aware of what they are paying. VAT taxes are added on at every layer of distribution of a product or service, onto the provider and not directly on the consumer. The consumer eventually pays a much higher price for the product or service but blames the party making the last sale. Never the politician who imposed the VAT tax to begin with.

                     

Such a consumption tax is often set with consumer subsidies as a political ploy because it resembles favors. It is loved by politicians. And it's sneaky. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

Europe Unemployment

Americans are mostly aware that massive European employment problems exist. If we did, we would be more concerned with aspects of our future as a country.

                     

Our concern is the poor state of our budget deficit-ridden economy and the condition of our educational system.

                     

Unemployment among those under age 25 Is about 10% in Germany, Austria and the Netherlands. But it averages about 20% overall in Europe because of the mess. Out-of-work youth are almost 30% in Italy, 40% in Greece and 45% in Spain. Many other countries suffer the same way, for the same reasons.

                     

The U.S. has been heading in the same direction. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

Who Are Really Economics Aware?

             

Refer to a December 2008 study of 4835 respondents. By Zeljka Buturovic, a research associate of Columbia University, and at Zogby International, and Daniel Klein, a professor at George Mason University.

                     

The study found that respondents who tend to be liberal also score lower on basic,  Economics 101 tests.

                     

Because this is highly controversial for those whose politics lean leftward, I suggest the original source. Go to Econ Journal Watch, at http://econjwatch.org for more details.

                     

I may add that there doesn’t appear to have been any change in this phenomenon as the decade has gone on. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

Choosing Law in College?

             

Many have been arguing for decades, that training in law school for prospective attorneys and their bar exams are merely means of keeping students out of more essential endeavors.

                     

They question whether all the training is necessary these days, when legal precepts can be readily consulted and searched via the internet.

Just before World-War II, many states would not require a formal law degree, in order to take the bar exam.

                     

Our most famous lawyers, including Patrick Henry and Abe Lincoln, never went to law school. They “read” law in a lawyer’s office and passed the bar with a test from a local judge.

                     

These days, you can buy vast assortments of routine- application legal forms that are created by lawyers. You still need them for serious work but the demand for their high- priced hands-on efforts is diminished.

But, a law degree still takes less brains and effort than do science or math diplomas. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

Truth About Robber Barons

                

The term “robber baron” was conjured up for the wrong reasons about a century ago, and continues to stay alive. It turns up conveniently in the media, which helped make the usage popular.

                     

Robber baron was originally used to maliciously represent tycoons who developed our oil, steel, telegraph, railroad and other basic 19th century industrial revolution enterprises. The term is used to describe ruthless, dishonest businessmen, bankers or any successful entrepreneurs.

                     

It took aggressive business people to succeed in those days. Rules were not the over-regulated variety of today. Were today’s in effect, much of the development of our own industrial growth would have been stifled. And consumer prices would not have been reduced as they were.(See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

Bad Environmental Planning

             

America has more than sufficient natural gas and oil reserves, in addition to offshore energy sources and in Alaska. We have practically unlimited coal supplies, in addition to oil shale. In fact, we would never need to drill for oil in deeper waters. We can build new nuclear plants whenever we decide to make that practical decision.

                     

Developing sources of energy would save us trillions of dollars as a substitute for presently imported fuels, while increasing much-needed jobs at home. It would give the U.S. essential energy independence.

                     

All the while we would develop more solar, wind and renewable energy for the future. Those prospects are bright only in the distant future, not now. Plus, the practical energy policy would help our foreign policy.

                     

But our environmental policy is unhinged by unthinking, ivory-tower environmentalism. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

The Problem of Extending Unemployment Insurance

               

The unemployed tend not to look for employment energetically until unemployment insurance is ready to run out. So extending the periods of insurance  may appear compassionate, and makes unemployment statistics more acceptable than they would ordinarily be.

                     

In addition, many jobs may be part time or temporary during recessions. Employers are unable to hire permanent help, or fear hiring because of rising costs and taxes.This adds to the confusion.

                     

So we constantly measure apples and oranges and produce questionable numbers that the media loves to repeat as gospel. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)