Word: taxing
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Americans and Europeans consider each other to be culturally distinct. European nations have high tax rates and socialized medicine; in the U.S., people flock to fast-food restaurants and pile into SUVs. But according to Peter Baldwin, a professor of history at UCLA, the reigning stereotypes about both groups are mostly untrue. In The Narcissism of Minor Differences, a new book published this month, Baldwin collected data from dozens of organizations and found that the U.S. and Europe are actually more alike than they are different. Baldwin talked to TIME about transatlantic differences in religion, crime and health care...
...fewer than 20 employees, account for 25% of all jobs, but they generated 40% of the [job] growth in the last expansion in 2001," says Brusuelas. He believes the Obama Administration needs to guarantee bigger loans to small firms through the Small Business Administration, and offer either a significant tax credit or tax cut to companies that hire new workers...
...Brennan isn't convinced a tax credit for new hires will work. "I don't have any work for someone, so giving me a $5,000 tax credit to hire someone and pay them $40,000 a year with health benefits and vacation, that's $60-grand. Do the math," he says. Brennan would prefer the government offer a tax credit or tax cut for every dollar that small businesses spend on health care for their employees. (Read "How to Know When the Economy Is Turning...
...Dunkelberg believes the U.S. government needs to focus on ways to increase consumer spending and, therefore, demand for products. He'd like to see the government suspend the FICA (or social security) withholding tax and extend the Bush tax cuts that are slated to sunset within the next two years...
...Yade, the junior Minister of Sports, is under fire for breaking ranks and criticizing a government decision to roll back tax breaks for professional athletes. Though heartfelt, Yade's contrarian stand made for bad politics - something her peers have made painfully clear. Junior Minister for Family Affairs Nadine Morano told a newspaper that if Yade didn't "agree with government policies, [she] should shut [her] trap or resign." (See pictures of Paris expanding...