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Zakat, the tax by which surplus income is then redistributed, is like the proposal for a plenty line in addition to a poverty line to identify an optimal upper income level that ensures needs are met, but beyond which there is little human gain and where damaging overconsumption kicks in.
Only the top 2% of kids at the upper income level would be impacted by the proposed limits.
Before last month's budget deal, the conventional wisdom was that big changes to Social Security wouldn't affect those who were 55 or older, although smaller changes (such as an adjustment in the way the CPI is calculated) might hit older folks, particularly those at the upper income level.
I very much have the feeling, and I think most people in Washington would agree, that if ordinary rates are going to go up on the upper income level, to return to the pre-2001 level, for those earning above $250,000, then it's likely that the capital gains rate will go from 15 back to 20 for income that is above the $250,000 trigger amount.
Our focus is the upper income level families living and shopping in the area.
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At the middle and upper income levels, though, the money-brain curve flattened.
They said those tax credits would have a greater impact on the economy than continuing the Bush tax cuts on upper income levels.
Al Gore will say the Bush cuts favor the rich, but to my mind it is well known that the people at the upper income levels pay most of the taxes, so any tax cut is going to seem to favor the rich.
In a single 13-year period, we (at least those in the upper income levels) somehow managed to generate an additional two or three years of life.
Thus, given higher budget shares of households at quartile 1 (33.03%) and quartile 2 (25.92%), these groups would be more affected by the oil price increases than those at the upper income levels would.
Further, in Malaysia, Yeong-Sheng (2008) computes the food budget across income quartiles using the Household Expenditure Survey 2004/2005 to be 33.03%, 25.92%, 21.2% and 14.63% for respectively Quartile 1, Quartile 2, Quartile 3, and Quartile 4. This means that the rising food prices will affect households at lower income quartiles more than those at the upper income levels.
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