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If bankers deserve excessive incomes for abnormal profits, surely they should take a hit for abnormal losses.
These are inevitable in a successful economy but exacerbated by the shortage of housing supply, by planning restrictions that limit the quantity of building land, by the disproportionate concentration of investment in the southeast, and by the excessive incomes of top earners.
Bob Holman Glasgow Louise Caseyy would be helped in her task if she considered the advice given by the English historian RH Tawney a century ago in his inaugural lecture at LSE on "Poverty as an Industrial Problem": "Improve the character of individuals by all means – if you feel competent to do so, especially of those whose excessive incomes expose them to particular temptations".
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Maya MacGuiness Committeee for a Responsible Federal Budget) rightly noted that greater certainty on the fiscal cliff could -- and should -- be viewed as the "cheapest form of stimulus" for an economy still struggling with mediocre growth, excessively high unemployment, and excessive income and wealth inequalities.
Importantly, our Brandeis tax does not target excessive income per se; it only caps inequality.
The excessive income earned by a few used to be spread across the population, with income inequality declining from 1918 through to 1978, albeit in fits and starts.
Little of it has directly benefited economies that are struggling to boost their growth rates, expand employment, avoid creating a lost generation of workers, and address excessive income inequality.
By Hendrik Hertzberg October 16, 2011 Occupy Wall Street's best slogan so far, riffing off a gay liberation favorite, suggests that the protesters understand that their lack of a specific program is, for the moment at least, an advantage, because it allows the spotlight to be trained on excessive income inequality and corporate power.
The rapid growth of private practice since 1992 was apparently precipitated by a 7% cut in NHS fees, which was designed to redress perceived excessive income [ 15, 16].
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.
The only type of return that's guaranteed is excessive fee income.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com