Word: highers
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...Summers announced the creation of HFAI in 2004. Since then, HFAI has helped reduce economic barriers that might prevent low- and middle-income students from attending Harvard by eliminating parental contribution for Harvard families making less than $60,000 a year, in addition to decreasing contribution for families at higher income levels...
...years, HFAI has also tried to engage the campus in discussion on issues surrounding access to higher education through academic speakers. But this year, HFAI’s student coordinators are trying to bring in a fresh array of speakers—such as Howard—who hail from fields one might not normally associate with the issue of educational equity. Their efforts represent not only HFAI’s innovative involvement with students under the Initiative once they arrive to Harvard, but also HFAI’s increased outreach to the campus as a whole...
...system? How does it compare to Europe's? The U.S. tax rate is at the low end of the European scale. The big difference is we have no national VAT, or value-added tax. We rely on income and property tax for revenue, and our corporate tax is higher than that of most European nations. And yet our system is very progressive. Rich Americans pay a larger share of their income in taxes than the richest Europeans do. We have a low absolute level of taxation, but it's progressive by European standards...
Europeans have VAT and it's very, very high - in Nordic countries, it's somewhere between 20% and 25%. The average European pays a much higher percentage in overall budget every time they buy something, but European governments give it back in the form of social benefits. American social benefits tend to be limited to the poor, so there's a much clearer [wealth] redistribution through the tax system than there is in Europe...
...have more people who live under the poverty line. In terms of relative poverty, that's true. But if you look at absolute poverty, you get a different impression. Because our GDP per capita tends to be higher than GDP per capita in European countries, the people who fall below the poverty line [in the U.S.] are not necessarily considered poor elsewhere...