Word: pay
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Dates: during 2000-2009
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...homeowner and found it staggering that just the mortgage-interest and property-tax deductions amount to $96 billion per year. The elimination of those two deductions alone would virtually pay for health-care reform. I recall the fear expressed when the removal of interest deductions for auto loans and credit cards was first discussed. The bottom did not fall out of those sectors. Nor will it fall out of the housing market. Peter Remondino, Scottsdale, Ariz...
Natural disasters, oil spills, car crashes, riots, crime: anything you pay to fix will boost GDP. Helping a neighbor up the stairs, skipping work to watch your son's Little League game, strolling in the woods won't. GDP tallies the value of an item, but not the environmental cost of its production: pollution, carbon emissions or the depletion of minerals and ecosystems. "It counts napalm and the cost of a nuclear warhead, and armored cars for police who fight riots in our streets," said Robert Kennedy in 1968. "It does not include the beauty of our poetry...
...doesn't even consistently measure what actually gets done. Did you pay a cleaning company to clean your floors? Congratulations, you've added to this year's numbers. Did you scrub them yourself? Sorry, you haven't. Buying eggs from a factory farm: a GDP boost. Raising chickens in your backyard: nope. Forty years ago, buying a VCR to watch a movie at home would have been a significant contribution. Today, picking up a DVD player adds almost nothing. But doesn't the more modern machine provide the better picture...
...hotel is 70% full, the cost of filling an otherwise empty room is virtually nothing. Plus, it brings in customers who may return to the hotel in the future - and spend cash. Hill, who trades roughly $100,000 a year through the service, uses his credit to pay the hotel's $650-a-month flower bill, and recently refurnished eight of the hotel's rooms without spending a penny. He's also purchased jewelry through barter and then resold it to hotel guests for a profit. The system works for personal use, too. Hill's wife has spent the hotel...
...expand even as the economy improves. "Companies will need to hire new staff and restart advertising and marketing campaigns which they pulled during the recession," he says. "Bartering frees up cash for that." It's a concept he obviously believes in: the firm uses its trade credits to pay the rent on its U.K. headquarters...