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But that is a tricky case to make: low yields are more the consequence of central-bank policy and the low level of inflation.An alternative view is that these higher incomes are what economists call rents: excess incomes earned by those with a privileged economic position.
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Such measures included high absentee rates (which could imply manipulated enrolment rates), excessive schools fees, "excess" principal salary (40% higher than their opportunity cost), "excess" income (income exceeding expenditure), and "missing" information on grant receipt.
People earning incomes above that amount pay a sliding monthly premium for Medicaid equal to l0percentt of excess income.
At the moment, for every pound of "excess income" someone receives, they lose 65p of housing benefit.
A better alternative would be to increase the progressivity of the income tax to siphon off the excess income that Mr. Greenspan is concerned about.
That was far more than was needed to pay one professor, so the college proposed using some of the excess income to pay for scholarships.
Last month, however, the family were rejected for a DHP because the county council judged they had excess income of £99 a week.
Each month, a person who has been deemed disabled can deposit her or his excess income into the trust, which must be run by nonprofit organizations.
Talk in the olden days was of "positive and negative taxation", or a citizen's income, with personal tax allowances issued as payments, and any excess income being taxed.
Last week, Polaroid, in default on nearly $1 billion in debt and with little excess income, seemed to be on its way to filing for bankruptcy protection -- and it is by no means alone.
At a minimum, the Medicare payroll tax is to be extended to all taxable income over $250,000 for couples and $200,000 for individuals, and raised — for them only — to 3.8 percent on that excess income.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com