Marcus Aurelius Leo Fisher

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Does Raising Taxes On The Rich Actually Reduce Inequality? Sometimes

Quite a lot, it turns out.<p>For a new report, the Brookings Institution simulated the effect of increasing the top income tax rate to 50%, then …

The EU may finally be breaking free of Russia's energy grip

The collapse of oil prices has punished Gazprom's revenues, but in a new development that is further damaging to the Russian state-owned company, the European Union is also beginning to shake itself of Russian gas.<p>Russian exports of natural gas through the Nord Stream pipeline - which runs from …

China might actually benefit from global warming

The research team from the Chinese Academy of Sciences said that if the phenomenon continues, the planet's thermal equator will move northward and push the rain belt associated with the monsoons in East Asia from the southern to northern part of the country.<p>The thermal equator is made up of a set …

China's economic slowdown is a sign of middle class strength

The world has been awash with such pessimism. And fumbled reactions by China's leaders to disasters, excessive financial speculation and other problems raise concerns about governance.<p>It may even raise questions of long-term stability.<p>A transition away from a reliance on exports toward consumption …

Russia Is Tumbling Toward Its Economic Catastrophe Scenario

Russia's non-gold international reserves have dropped from $457 billion at the start of this year to $383 during October. The ruble has plunged 30% since the start of the year. To stem the drop in reserves, Russia's central bank on November 10 allowed the ruble to float freely in the market. I …

The Fracking Future Is a Big Myth

A series of reports suggests that natural gas production estimates have been wildly overoptimistic.<p>The United States' bright fracking future is a lie. Or a myth. Or at least, not as as advertised.<p>That's essentially the conclusion of a new investigation described in today's issue of Nature. The …

More than 500 rigs may shut down as oil slides, analysts say

How Oil Complicates Monetary Policy

Is the recent dramatic drop in oil prices ultimately good news or bad news for the U.S. and Europe? And how should it affect monetary policy?<p>There's …

The Conventional Wisdom On Oil Is Always Wrong

In 2008, I moved to Dallas to cover the oil industry for The Wall Street Journal. Like any reporter on a new beat, I spent months talking to as many …

Moody’s says lower oil prices won’t boost global growth in the next two years

MADRID (MarketWatch) — Amid a death spiral for oil prices, a comfort in some corners has been the belief that lower energy prices will be a boon for …

This Chart Shows Why the Number of Oil Rigs May Not Matter Anymore

The number of oil rigs drilling new wells in the U.S. has collapsed at an unprecedented rate. The weekly number has gathered a huge following as …

Who are the 1%? The answer might surprise you

It’s official: half of the world’s wealth is now owned by the top 1%. Escalating levels of global inequality over recent years have led to the top …

35 soul-crushing facts about American income inequality

<b>(romakoma via Shutterstock)</b><p>The money given out in Wall Street bonuses last year was twice the amount all minimum-wage workers earned combined<p>Larry Schwartz<p>July 15, 2015 5:15pm (UTC)<p>This article originally appeared on AlterNet.<p>While Hillary Clinton occasionally gives some lip service to the problem …

Income inequality is making your life worse

AMERICANS are overwhelmingly concerned about income inequality, according to a New York Times poll released in June. Americans also overwhelmingly …

Middle-class

New 39.6 percent tax bracket for wealthiest people

WASHINGTON — A new top tax rate, higher Medicare taxes and the phaseout of deductions and exemptions could mean higher tax bills for wealthier Americans this year. Legally wed same-sex couples, meanwhile, may find the true meaning of the marriage penalty.<p>All taxpayers will have a harder time taking …

Two Accras?: Income Inequality and the Meaning of Development

I am currently back in Accra. The last time I was here was 2013, but that trip was so short that I did not get a full sense of the changes in the …

New study shows that inequality is growing most in the US and UK

In a new report, Causes and Consequences of Income Inequality: A Global Perspective, the IMF aims to show why policymakers need to focus more on the poor and the middle class. The report determined that income inequality and income distribution matter for growth and its sustainability in a …

IMF report: Reasons why the rich should not get richer

Dubai: The gap between the rich and the poor has widened further with the wealthiest one per cent of the global population now accounting for around …

The American State of Mind; Two Contrasting Perspectives

America currently is afflicted with a systemic societal disease that is spreading across the body of this country. That societal disease of which I …

Income Inequality

Why equality of opportunity is neither possible nor desirable

The dominant Western idea of equality opposes caste systems but not hierarchy. As American political philosopher Richard Arneson says:<p>When equality …

Entrepreneurs don’t have a gene for risk–they come from families with money

Entrepreneurship