BEHIND every leaf, runs an old Indian proverb, lies another leaf. Deep, huh? Actually, all it means is that, as we say in this part of the world, you should always look for the wheels within wheels. Take the Budget last week. On the face of it, the so-called granny tax (actually merely the phasing out of a differential between pensioners and the rest of us that will leave no-one worse off in cash terms) was a terrible howler, with George Osborne's attempts to present it as a 'simplification' measure merely compounding the blunder.
Rebutted by Jared Bernstein: >Here’s the gist: “The federal budget is just like a family budget, and we in government must tight our belts and live within our means just like families do.”... [I]t’s almost always used as an argument... Read Post
Americans weren't always addicted to buying things. Long before U.S. consumers racked up $11.3 trillion in aggregate debt, people used to save money for things they actually needed. But in the age of plenty that followed World War I... Read Post
The Indian rupee tumbled against the U.S. dollar after finance minister Arun Jaitley unveiled the country's latest budget. The budget maintained a fiscal deficit target of 4.1% of GDP. Analysts had widely expected that target to be ... Read Post