The newspapers used to make the news, now they are the news. Reports of their death may indeed be premature but there is no question they are dying. The recession hasn’t helped but the real story is a shift in the habits of American consumers and the emergence of a new generation that gets most of its news online and for free. Newspapers are struggling for both relevancy and revenue in every major US market (although some are certainly making valid efforts to compete and innovate in the digital world).
Recent news articles have brought to light the fact that almost 47% of households in the US currently have zero or negative federal tax liability. We take a closer look at this lack of liability across each income level, highlighting the percentage in each range that will not pay any taxes. Also shown is a full breakdown of who is paying the bulk of all taxes collected by the Federal Government each year.
The tax structure is made up of 25 percent social security, 25 percent personal income, 19 percent general consumption, 11 percent specific consumption, 11 percent corporate income, 6 percent property, 3 percent other and 1 percent payroll.
Taxes on Corporate Incomes as a Percentage of GDP
The tax income from corporations represents almost 4 percent of the GDP of Canada. The tax income from corporations represents more than 3 percent of the GDP of the United States. In Australia, the tax income from corporations represents almost 7 percent of Australias GDP. The tax income from corporations represents almost 5 percent of the GDP of Japan. The tax income from corporations represents almost 4 percent of the GDP of South Korea. The corporate tax income represents almost 6 percent of the GDP of New Zealand.
The EU has big plans for its renewable energy future, and much attention has thus far been directed towards wind generated power, with nations such as the UK and Germany leading the way in making the most of Europe’s wind potential. For this reason, the European Commission’s latest plan to reduce carbon emissions by pumping a huge slice of the 50 billion euros available for research and development into solar power, may raise a few eyebrows.
Power generated from solar panels and carbon capture-and-store technology are the two major components of the EU’s plans, as the commission tries to demonstrate how it is taking the necessary steps to meet ambitious carbon cutting targets. The plan, due to be released tomorrow, is a direct attempt to raise the EU’s profile before the UN summit meeting in Copenhagen in December on reaching a new global agreement to curb climate change.
Today sees the start of the UN Climate Change Conference, where diplomats from 192 nations take part in the best and perhaps last chance to protect the world from the disasters of global warming, in what has been dubbed the most “important climate change summit in history”.
But as the UN tries to cut the carbon emissions of every nations on the planet, what about the summit’s own carbon footprint?
With almost 20,000 delegates, activists and reporters expected to converge on the Danish capital some experts are forecasting the 12 day conference, and all the activity surrounding it, to produce 41,000 tonnes of “carbon dioxide equivalent” – roughly the same as what Morocco produced during the whole of 2006.