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US PRESIDENT BARACK Obama has laid out a case for imposing a minimum tax on America’s wealthiest people, which would see those earning $1 million or more annually pay at least 30 per cent of their income in taxes.
Obama has called on US citizens to pressure their member of Congress to support the so-called “Buffett Rule”, named after billionaire and philanthropist Warren Buffett who has called for a tax on the country’s wealthiest.
Buffett has pointed out that he pays a lower tax rate than his secretary, due to preferential tax treatment for capital gains and dividend income.
Speaking at Boca Raton, Florida, Obama said:
The share of our national income going to the top 1 per cent has climbed to levels we haven’t seen since the 1920s… The folks who are benefiting from this are paying taxes at one of the lowest rates in 50 years.
Chairman of the White House council of economic advisers Alan Krueger also argued in favour of the Buffett Rule recently, the Washington Post reports, saying:
At a time when the market is driving more income into the hands of the highest-income earners, that’s a time when it’s easier for the top income group to bear higher income taxes.
The proposed tax would increase US tax revenue by up to $47 billion (€36 billion) over the next decade, according to estimates by proponents. Taxpayers would be permitted to deduct charitable contributions under the new system.
The proposal has been criticised by Republican presidential-hopeful Mitt Romney, who is instead advocating the lowering of the tax rate for those with the smallest incomes in order to allow small businesses to grow, reports the Financial Times (free subscription required).
The Senate is scheduled to consider the proposal today.
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Such a shame. I visited Tunisia 3 years ago with my wife and had an amazing week. Fabulous food and culture, bright and engaging locals, beautiful hotels and beaches. Everything you could want in a holiday resort. The Tunisians have worked tirelessly toward a democracy and the country has been in a really good place of late.
It’s a real shame to see the murderous intentions of the radical few having such an effect on a great nation of good people who deserve better.
More than a ‘radical few’ I suspect, there are hundreds of Tunisians with Isis fighting in Syria and they are getting their training in Libya. It is right for tourists to know what the stakes are when planning their holidays in the Middle East and North Africa. According to Ch4 news Gaza is being infiltrated by Isis and attacking the borders between Egypt and Israel.
what a shame for the people of the country who depend on the tourists.
If I was there, and I was advised to leave by security people/dept of foreign affairs, I would definitely leave.
Having said that, part of me feels that, by leaving the country, the terrorists win. And that sucks big time.
No brainer in fairness.
Discussed on the radio earlier, would seem that your travel insurance will not now cover you in Tunisia.
Don’t worry, you won’t have to travel to North Africa to find Islamic terror. The LÉ Eithne is bringing it here to Europe.
It occurs to me that as Westerners are not safe to travel to Tunisia now, as it’s such a tourism dependent country, it’d be great if large numbers of Muslims booked holidays there…………… . It’d keep the tourism economy going in Tunisia and it’d also be a protest against those who abuse Islam for their own barbaric aims..
Right now i’d say Tunisia is one of the safest places on the planet. Tourists stop going, the locals lose their jobs and ISIS swoops in to scoop up the disaffected unemployed, Crazy .
So by your reckoning if a fanatical muslim shooots dead nearly 40 innocent tourists, who are merely enjoying the hospitality of the local scenery and people, then the local population will blame the western tourists for the resultant loss in jobs etc, and this will result in further radicalisation and death.
If this is the case the I think Declan Nerny said it best….”stop the world and let me off!”
Ps, those are his only lyrics I know. Don’t judge me!
“To think “LONG”and hard”?What a contriction of the warning, wouldn’t want to take too long now wouldn’t that be in itself risky? !
Lots of liked palm leaf comments getting likes but if that’s your thing c’est la vie.
For the department of foreign affairs to come out with such wisdom now is rather shameful! We have navy assets in the area but we’re operating with zero intel against local elements trafficking and worse!
Solution – Rangers on the ships, strike where there’s doubt and perhaps apologise later but we won’t be burying 3 or more innocents from overseas!
Closer to home is where all other assets should be placed!
That’s a silly statement. The warning is based on UK intelligence. Our ship in the Mediterranean is not on a war mission,to do what you suggest would mean big trouble for us back home.
Exactly because it’s based on UK intel is why I said the Dept of F.A. are clowns – if their threat levels are to be solely based on UK intel they could merely retweet the UK statements and we could sack the PR person. SAve the country 40k maybe.
I’m for proper action against terrorists. No thing as being neutral in such circumstances or thinking a white flag will protect us. I still feel ill at the thought that during the Gadaffi overthrow, the Irish media were supporting those that have become ISIS. Even giving several young men air time on the likes of Joe Duffy. Can’t bury our heads in the sand about this as these mofo’s aren’t going away anytime soon!
Chicinho has watched one two many action movies – as cool as it would be to have the Army Ranger Wing go in an take out ISIS.
have your say