5pm Radio: WMCS with Earl Ingram

3 Comments

1. ana says:

   February 5, 2013 at 7:41 PM

   There is such a need for the discussion on jobs,economy and immigration issues no doubt…But here is a bit piece of interesting information to read: China Takes a Big Bat to Income Gap: Beijing-China unveiled sweeping policy guidelines to close the growing gap between rich and poor,vowing to turn over more of the profits of State-Owned Companies to pay for Ambitious Welfare Programs and to take other steps to Root Out Corruption and provide for The Needy…The need for greater equality,China State Council,or Cabinet pledge to boost the Social Safety Net and took aim at the Nation’s Powerful State Corporations,effectively warning them they would have to shoulder some of that extra cost.”Narrowing the income gap is essential for ensuring Social Justice and Social Harmony…”We needto raise income levels of the poor and adjust taxes on the Excessively Wealthy,”it said…The State Council’s new guidelines call for National State Companies to hand over an additional[5%] or so of their profits to The Government by 2015…But they offer a guidepost for other Government Officials and represent a nod by China’s new leadership under Xi Jinping that it faces pressure to address Nagging Social Issues such as a yawning income gap and the need for a Government Boost in Living Standards…Economist have long been urging Beijing to compel State Companies to hand over more of their profits to The Central Government as a way to help pay for increased spending on Pensions,Healthcare,Low-Income Housing and Education…A stronger Social Net is seen as crucial to China’s economics rebuilding,freeing up household income for consumption…The State Council said the personal income tax would be adjusted to capture more of the income from The Nation’s Well-To-Do…While no new tax rate were announced,the guidelines pointed to the need to bring”all sources of income”under the system.
2. ana says:

   February 5, 2013 at 8:46 PM

   China Takes s Big Bat to Income Gap: The Nation’s Corporate Tycoons and some of its Government Officials have been able to Amass Fortunes that often Evade The Government’s Tax Net…The State Council also suggested it might take aim at some of the most Sensitive Areas of Wealth Accumulation by taxing Inheritance and Real Estate…Authorities will also Step Up Efforts to Track and Control Illegal Income from Government Officials…”We need to Strictly Enforce Rules on Accurate Reporting of Income,Property and Investment by all Employment of Official’s Spouses and Children would be Watched more closely…He vowed tough action in cases of False Reporting of Assets,noting a rising problem with Hidden Wealth…Official Corruption has gained widespread attention in the Domestic Media…A number of Government Officials have been Stripped of Their Post for Corruption and Abuse of Power…Most of the efforts have Targeted relatively Low-Level Officials and it remaines unclear whether any of the efforts would Target The Upper Echelons of The Party Leadership…For the first time in years,The National Bureau of Statistics last month disclosed China’s Gini Coefficient…A key measure of Inequality named after an Italian Statistician…The figure came in at a relatively high[0.47] in 2012…While some experts maintain that number still underestimates the Nation’s inequality,it would make the division of Income as Unequal as in The U.S.,which had a Gini Coefficient of[0.48] in 2011,according to The U.S.Census Bureau…A Coefficient of[1] indicates perfect Inequality,while a Coefficient of zero indicates perfect equality.
3. ana says:

   February 5, 2013 at 9:44 PM

   China Takes a Big Bat to Income Gap: The State Council the Government also plans mor active policies to Boost Employment and it will push for a”Reasonable”Rise in Wages for Low-Income Workers…China will also push ahead with an easing of restrictions on Interest Rates on Loans and Deposits…The aim of this move appears to be to Increase Interest Income for Depositors under The State-Dominated Banking System,where The Central Bank sets guidelines for Interest-Rate Levels…China’s State Banks have long been accused of benefiting from Low Deposit Rates,which helps to increase their profits…Economists have long argued that China needs to encourage more Domestic Consumption to shift its economy away from relying on Government Investment and Exports for growth…New sources of income;such as from bank deposit and higher Wages,would allow people to spend more,they say…The State Council also said it would Strictly Regulate bank fees…Banks have been widely critized for charging too much for some of their services…The statement also calls for Long-Term efforts to Boost Farm Income…It said Beijing needs to protect farmer’s interest by ensuring they receive more income from the sale of farm land…Disputes over expropriated farm land have become a serious threat to Social Stability..Local Officials,often working hand in glove with properity companies,frequently Seize Farm Land for development projects but with little or no compensation for farmers..Th State Council also promised to make it easier for farmers to move to the cities…A household Registration Regulation known as the”hu kou”system,currently makes it difficult for people from the Countryside to live permanently in the cities with the same benefits from Education and Healthcare as other Urban Residents…The State Council also pointed to a Big Wealth Gap between The Urban and Rural Regions and vowed to provide more Fiscal Support for the less developed Central and Western Regions of The Country…This is a good example for The U. S. to follow,to move this Country Forward…If Congress can Stop The Gridlock to Accomplish Anything at All.