ROANOKE, Va. (WFXR) — Roanoke economics experts say a recent spike in the monthly cost of goods, will likely decrease naturally.
The Consumer Price Index shows over the last 12 months the cost of goods has increased five percent monthly before the seasonal adjustment. This is the largest yearly increase recorded since August of 2008.
Op-ed: Biden's trickle-up economics is bound to fail - Chicago Tribune
Biden is proposing a very large expansion of government spending, to 25% of GDP from 20% before the pandemic. The plan represents a massive redistribution of wealth from companies and higher earners to middle and low-earning Americans.
The Biden administration would like to try a new approach. One of the president's economic advisers, Heather Boushey, favors a philosophy that aims to spark growth by redistributing wealth and income. She argues that because consumption accounts for 70% of GDP each year, it stands to reason if we take resources from rich people who save more of their money, and give it to poorer people who spend more, we'll increase consumption and have a bigger economy.
NEWBY: National economics' impact on local communities | Opinion | rapidcityjournal.com
In Econ 101, the topic of the law of 'Supply and Demand' is often taught and discussed. The concept of 'supply and demand' is usually what dictates the price we pay for goods. As we have seen over and over since the dawn of civilization, when demand outpaces the available supply, prices will escalate. Inversely, when the demand falls, prices will tend to fall and equalize over time as well. This makes sense and most people understand this basic concept.
When we go to Econ 201, the plot then thickens a bit. Here we learn an additional economic law telling us, high prices are cured by the impact of high prices. There may be a few exceptions to this rule, however if the economy is allowed to function free of intervention, the competition brought about by the high prices which are due to shortages of supply typically drive prices back down over time.
Student team from Mount Hebron High wins nationwide Economics Challenge | Mostly Main/Ellicott
Kudos to the Mount Hebron High School team that, for the third year in a row, outscored student teams from all over the United States to win both divisions of the 21st Annual National Economics Challenge , sponsored by the Council for Economic Education .
The event was held online May 22-24, and Mount Hebron beat 375 other schools that participated, as well as an international round against two high schools in China. In all, more than 10,000 students participated. The competition recognizes exceptional high school students for their knowledge of economic principles and their ability to apply problem solving and critical thinking skills to real world events.
Goldrich Mining Releases Initial Assessment Report; Results Indicate Robust Project Economics of
SPOKANE, WA / ACCESSWIRE / June 11, 2021 / Goldrich Mining Company (OTCQB:GRMC) ("Goldrich" or the "Company") is pleased to announce the results of the independent Initial Assessment Report (the "IA") for the Company's Chandalar Mine in the Chandalar Gold District in Alaska. The IA was prepared by Global Resources Engineering ("GRE"), a widely-respected mining engineering firm in Denver, Colorado.
Due to new amendments recently adopted by the SEC to modernize property disclosure requirements for mining registrants, the preparation of the IA allows Goldrich to disclose Measured, Indicated, and Inferred resources for the first time.
Economics in Brief: How the Ultra-Wealthy (Legally) Avoid Taxes – Next City
This massive ProPublica investigation has been making the rounds this week; if you haven't seen it, now's your chance to get your #longread set for the weekend. The nonprofit newsroom describes how the 25 wealthiest people have seen their worth rise $401 billion from 2014 to 2018, while paying only $13.6 billion in federal income taxes. That's a "true tax rate" of 3.4%, the outlet said.
The disconnect, of course, dates back to the definition of "income." As Propublica notes, the early years of personal income tax, at the beginning of the 20th century, taxed primarily the wealthy, and not just on income earned from work. But just a few years later, the article says:
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