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The combined wealth of the world's 10 richest men rose by $540bn (£400bn) during the pandemic, according to Oxfam... (read on)
"There are lots of ways to describe the subject matter of economics, but the ponciest way is to say it’s about “the study of incentives”. It’s true, but a less grandiose way to put it is that conventional economists are obsessed by prices and not much else." - Ross Gittins (Economics Editor, Sydney Morning Herald)
https://www.smh.com.au/business/the-economy/why-much-of-what-we-re-told-about-the-effects-of-taxes-is-off-beam Official figures have missed £800bn of private assets, says thinktank, amid calls for wealth tax to fund Covid recovery...
https://www.theguardian.com/inequality/2021/jan/03/richest-1-have-almost-a-quarter-of-uk-wealth-study-claims From the IMF Blog...
Emerging markets and developing economies grew consistently in the two decades before the COVID-19 pandemic hit, allowing for much-needed gains in poverty reduction and life expectancy. The crisis now puts much of that progress at risk while further widening the gap between rich and poor.... (keep reading) Most Americans accept the common-sense case for progressive taxation: Those who have more ought to contribute more to the society that is the foundation of their prosperity.
In most American states, however, the distribution of taxation is actually regressive. Those who earn less money pay a higher share of income than the rich in state and local taxes.... https://www.nytimes.com/2020/10/28/opinion/progressive-taxation-california-illinois-arizona.html |
Maree SpraggonTeacher of IB Economics at the American School of Budapest Archives
February 2024
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