Category Archives: Taxes

Greece’s Newest Bailout

Over the past week, Greece has once again met another deadline to pay back their massive amounts of debt. In addition, they have yet again failed to do so. Simply without having enough money to give to their creditors, Greece has been put on the fence. The Greek Prime Minister has made it clear that his overall goal is to protect the Greek citizens. This is why he is taking a vote on Sunday on whether or not to adhere to the creditors rules which clearly don’t have the best interest of the Greek people in mind. The creditors have given Greece an ultimatum; Keith Mann says they must increase taxes and cut pensions or Greece may just have to say goodbye to the Eurozone. As of now, Greece has already shut down the stock market and limited the amount of money citizens can withdraw at a time from an ATM. The bailouts have not stopped coming, however. Thom Feeney, a native of London, set up a fundraising campaign via the Indiegogo crowdfunding platform. Already, Feeney has raised over $630,000. Although this number is significantly shy of the overall goal, it is still nice to see Greece still has supporters around the world. Perhaps the most interesting thing to realize is the a majority of the donations have come from German citizens. This is the last thing to be expected as Greece owes Germany from several past bailouts.

Bernie Sanders Would Tax The Income Of The Wealthiest Americans At 90 Percent

Bernie Sanders has gained a lot of press lately in his bid for president. Recently, he has gone on record saying that he would support a 90% tax rate for the wealthiest of Americans. While this might be a good idea, and it might fix some of the problems that American has, including a large lack of funding and a huge gap between the rich and the poor, it is highly unlikely that such a tax rate would ever pass. It is also unlikely that this statement of admission will gain him many supporters in his bid to be elected president of the United States.

During an interview with CNBC’s John Harwood, Sanders said sarcastically “When radical, socialist Dwight D. Eisenhower was president, I think the highest marginal tax rate was something like 90 percent.” When asked if that was too high, he said no.

Sanders may not have been entirely serious about supporting such a high tax rate, even if he thinks it is a good idea, but it is a good indicator of where he stands when it comes to income equality in the United States economy. People at The Aspire New Brunswick (theaspiregroupinc.com) have learned that he went on to explain that he thinks it is immoral for the top 1/10th of Americans to own more than the other 90 % combined. Sanders has described himself as a socialist, and he hopes to appeal to the average American who struggles to make ends meet.