How the threat of an imminent fiscal cliff is directly related to Research Paper

How the threat of an imminent fiscal cliff is directly related to income inequality - Research Paper Example The whole problem was triggered by the quarrel over tax cuts for the wealthiest 1% percentage of Americans. It can be argued that the prospects of the future global economy depends much on the debate circling to distribution of income or equality among all sections of the society. The republicans support the tax cuts on the argument of the role played by income in the development of incentives. They argue that the role of the government is not ecstatic in managing the money of the tax payers. They put the example of the CEO who may feel the disincentive on working harder if the government levies a tax of 10% more on his income. The Republicans states the money that is paid by the tax payers can be more efficiently invested in profitable investments instead of wasting the amount in the inefficient programs of the government. Research question How the threat of an imminent fiscal cliff is directly related to income inequality? Literature Review The law makers of the country are facing three unattractive options. They can keep the policy on hold till the beginning of next year. With the implementation of the policy the spending rates are anticipated to go down and therefore the economy will again be on the verge of inflation. Again the deficit of the current balance is anticipated to fall as well. They can opt for the middle course which would address the issues of the budget to a certain extent and will also have modest impact on the rate of growth. Two dimensions can be put forwarded regarding the inefficiency of the government. The spending in the public sector cannot be identified as waste because some of the expenditures roll out to the private sector as well. In some cases the roll is large enough. Moreover some profitable investments can only be done by the government. An individual cannot be held responsible for his resources and the same individual can be held responsible for the choices he makes. It is undoubted that the policy maker will opt for the pro grams that bring equalization in the society rather than increase the taxes for the wealthiest population. The term economic inequality is used to define the gap between the rich and the poor. The disparities in distribution of the economic assets among individuals or groups of population are regarded as economic inequality (World Bank, 2005, p. 27-28). There are many causes for economic inequality and primary of them being the differences in wages and salaries of the employed. Inequality in the labor market leads to concentration of wealth in the hands of the few. Some of the other causes are racial inequality, gender inequality, tax loopholes and increasing costs of education. The distributive inefficiency gets reduced by economic inequality. Inequality acts to reduce the total personal utility. The simplest form of measuring inequality arranges the entire population from poorest to the richest and pictures the percentage of spending attributable to either quintile or decile of th e arrangement. One of the most popular measures on inequality is Gini coefficient (Cullis and Koppen, 2007, p. 2-3). It ranges from 0 showing perfect equality to 1 showing perfect inequality. It is derived from the Lorenz curve which also arranges the population from the poorest to the richest. The Lorenz curve is drawn using the cumulative proportion of the population and the cumulative expenditure on the horizontal and the vertical axis

How the threat of an imminent fiscal cliff is directly related to Research Paper

How the threat of an imminent fiscal cliff is directly related to income inequality - Research Paper Example The whole problem was triggered by the quarrel over tax cuts for the wealthiest 1% percentage of Americans. It can be argued that the prospects of the future global economy depends much on the debate circling to distribution of income or equality among all sections of the society. The republicans support the tax cuts on the argument of the role played by income in the development of incentives. They argue that the role of the government is not ecstatic in managing the money of the tax payers. They put the example of the CEO who may feel the disincentive on working harder if the government levies a tax of 10% more on his income. The Republicans states the money that is paid by the tax payers can be more efficiently invested in profitable investments instead of wasting the amount in the inefficient programs of the government. Research question How the threat of an imminent fiscal cliff is directly related to income inequality? Literature Review The law makers of the country are facing three unattractive options. They can keep the policy on hold till the beginning of next year. With the implementation of the policy the spending rates are anticipated to go down and therefore the economy will again be on the verge of inflation. Again the deficit of the current balance is anticipated to fall as well. They can opt for the middle course which would address the issues of the budget to a certain extent and will also have modest impact on the rate of growth. Two dimensions can be put forwarded regarding the inefficiency of the government. The spending in the public sector cannot be identified as waste because some of the expenditures roll out to the private sector as well. In some cases the roll is large enough. Moreover some profitable investments can only be done by the government. An individual cannot be held responsible for his resources and the same individual can be held responsible for the choices he makes. It is undoubted that the policy maker will opt for the pro grams that bring equalization in the society rather than increase the taxes for the wealthiest population. The term economic inequality is used to define the gap between the rich and the poor. The disparities in distribution of the economic assets among individuals or groups of population are regarded as economic inequality (World Bank, 2005, p. 27-28). There are many causes for economic inequality and primary of them being the differences in wages and salaries of the employed. Inequality in the labor market leads to concentration of wealth in the hands of the few. Some of the other causes are racial inequality, gender inequality, tax loopholes and increasing costs of education. The distributive inefficiency gets reduced by economic inequality. Inequality acts to reduce the total personal utility. The simplest form of measuring inequality arranges the entire population from poorest to the richest and pictures the percentage of spending attributable to either quintile or decile of th e arrangement. One of the most popular measures on inequality is Gini coefficient (Cullis and Koppen, 2007, p. 2-3). It ranges from 0 showing perfect equality to 1 showing perfect inequality. It is derived from the Lorenz curve which also arranges the population from the poorest to the richest. The Lorenz curve is drawn using the cumulative proportion of the population and the cumulative expenditure on the horizontal and the vertical axis

How the threat of an imminent fiscal cliff is directly related to Research Paper

How the threat of an imminent fiscal cliff is directly related to income inequality - Research Paper Example The whole problem was triggered by the quarrel over tax cuts for the wealthiest 1% percentage of Americans. It can be argued that the prospects of the future global economy depends much on the debate circling to distribution of income or equality among all sections of the society. The republicans support the tax cuts on the argument of the role played by income in the development of incentives. They argue that the role of the government is not ecstatic in managing the money of the tax payers. They put the example of the CEO who may feel the disincentive on working harder if the government levies a tax of 10% more on his income. The Republicans states the money that is paid by the tax payers can be more efficiently invested in profitable investments instead of wasting the amount in the inefficient programs of the government. Research question How the threat of an imminent fiscal cliff is directly related to income inequality? Literature Review The law makers of the country are facing three unattractive options. They can keep the policy on hold till the beginning of next year. With the implementation of the policy the spending rates are anticipated to go down and therefore the economy will again be on the verge of inflation. Again the deficit of the current balance is anticipated to fall as well. They can opt for the middle course which would address the issues of the budget to a certain extent and will also have modest impact on the rate of growth. Two dimensions can be put forwarded regarding the inefficiency of the government. The spending in the public sector cannot be identified as waste because some of the expenditures roll out to the private sector as well. In some cases the roll is large enough. Moreover some profitable investments can only be done by the government. An individual cannot be held responsible for his resources and the same individual can be held responsible for the choices he makes. It is undoubted that the policy maker will opt for the pro grams that bring equalization in the society rather than increase the taxes for the wealthiest population. The term economic inequality is used to define the gap between the rich and the poor. The disparities in distribution of the economic assets among individuals or groups of population are regarded as economic inequality (World Bank, 2005, p. 27-28). There are many causes for economic inequality and primary of them being the differences in wages and salaries of the employed. Inequality in the labor market leads to concentration of wealth in the hands of the few. Some of the other causes are racial inequality, gender inequality, tax loopholes and increasing costs of education. The distributive inefficiency gets reduced by economic inequality. Inequality acts to reduce the total personal utility. The simplest form of measuring inequality arranges the entire population from poorest to the richest and pictures the percentage of spending attributable to either quintile or decile of th e arrangement. One of the most popular measures on inequality is Gini coefficient (Cullis and Koppen, 2007, p. 2-3). It ranges from 0 showing perfect equality to 1 showing perfect inequality. It is derived from the Lorenz curve which also arranges the population from the poorest to the richest. The Lorenz curve is drawn using the cumulative proportion of the population and the cumulative expenditure on the horizontal and the vertical axis

FAMILY LAW Essay Example | Topics and Well Written Essays - 2500 words - 1

FAMILY LAW - Essay Example Prior to this act, domestic violence was dealt under the provisions of several different acts. This act supplanted them and integrated them into one act3. The previous provisions had been ambiguous, confusing and were unable to deal with all the aspects of domestic violence. They had prescribed different norms for dealing with domestic violence and were applied to a very narrow range of relationships. Different courts had delivered significantly different decisions; and there was considerable variation in the remedies applied by different courts for similar types of domestic violence. The new act did away with this confusion and disparity to a great extent4. The present situation in the UK is that an individual can be prosecuted on charges of domestic violence, through several criminal justice provisions. However, the victims of domestic violence can only invoke the family law act for remedies and civil initiatives, to get protection against such violence. The family law act is preferred by most of the women to initiate civil action against offenders5. There are two reasons for this; first, victims of domestic violence do not want to invoke criminal proceedings against such violence, because once the prosecution is under way, they will be unable to control or stop the process, which will be controlled by the police authorities, who will take decisions regarding the subsequent steps in the process6. These authorities decide whether the matter is to be brought before the Crown Prosecution Service. At this juncture, the victim cannot stop the process and there is risk of subsequent retaliation by the offender against the victim. Secondly, victims of domestic violence are generally women; and many women do not want the offender to obtain a criminal record7. Thus, most women seek non – molestation orders, which imposes restrictive measures on the perpetrator and restrain him from committing such acts in future; and