Sweden’s billionaires: They have more per capita than the United States.: " . . . The Swedish tax code was substantially reformed in 1990 to be friendlier toward capital accumulation, with a flat rate on investment income. Sweden has no taxes on inheritance or residential property, and its 22 percent corporate income tax rate is far lower than America’s 35 percent. Even after spending cuts by the current center-right government, the Swedish public sector is still about half the total economy (much higher than here), but the taxes that finance it fall more heavily on consumption and less on business investment than in the U.S. Sweden also has a relatively lightly regulated economy. There are rules about public health and environmental protection, of course. But Sweden is arguably further down the neoliberal path of dismantling purely economic regulations than the U.S. In Stockholm, for example, taxi fares are completely unregulated and for-profit charter schools are common. All things considered, international surveys rank Sweden as a place where it’s easy to do business. Within the U.S., surveys show that licensing rules rather than tax rates are the main driver of local business-friendliness. . . ." (read more at links above)
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Showing posts with label US. Show all posts
Showing posts with label US. Show all posts
08 November 2013
15 February 2013
America needs immigration reform--and foreign-born engineers and scientists!
The US is educating thousands of engineers and scientists, and then making them leave the US because of outdated immigration laws--and yet an op-ed in the New York Times tries to justify this idiotic immigration policy. A cogent response from James Pethokoukis (excerpt below)--
No, America does not have a ‘genius glut’ | AEIdeas: " . . . a New York Times op-ed by the union-backed Economic Policy Institute, “America’s Genius Glut,” ventures into the hysterical when attacking the idea of a tech workers shortage and a new bill that would increase the number of high-skill temporary and permanent visas . . . Some of those high-skill immigrants become entrepreneurs . . . Economist Giovanni Peri:
1. While accounting for only 13 percent of the population, foreign-born individuals account for about one-third of U.S. patented innovations.
2. One-quarter of all U.S.-based Nobel laureates of the past fifty years were foreign born. Immigrants have been founders of 25 percent of new high-tech companies, with more than $1 million in sales in 2006, generating income and employment for the whole country.
3. Over the period 1975–2005, all of the net growth in the number of U.S.- based Ph.D.s was due to foreign-born workers.
4. Currently about half of the Ph.D.s working in science and technology are foreign born. Innovation and technological progress are the engines of economic growth.
5. A high-skill job in a city creates 2.5 additional jobs in the local nontradable sector through linkages of production and local demand effects.
6. An increase in the share of college-educated immigrants by 1% increases productivity and wages for everybody in a city by 1%.
7. Immigrants accounted for well over 50% of the growth in employment in STEM-related fields between 2003 and 2008. . . ."
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No, America does not have a ‘genius glut’ | AEIdeas: " . . . a New York Times op-ed by the union-backed Economic Policy Institute, “America’s Genius Glut,” ventures into the hysterical when attacking the idea of a tech workers shortage and a new bill that would increase the number of high-skill temporary and permanent visas . . . Some of those high-skill immigrants become entrepreneurs . . . Economist Giovanni Peri:
1. While accounting for only 13 percent of the population, foreign-born individuals account for about one-third of U.S. patented innovations.
2. One-quarter of all U.S.-based Nobel laureates of the past fifty years were foreign born. Immigrants have been founders of 25 percent of new high-tech companies, with more than $1 million in sales in 2006, generating income and employment for the whole country.
3. Over the period 1975–2005, all of the net growth in the number of U.S.- based Ph.D.s was due to foreign-born workers.
4. Currently about half of the Ph.D.s working in science and technology are foreign born. Innovation and technological progress are the engines of economic growth.
5. A high-skill job in a city creates 2.5 additional jobs in the local nontradable sector through linkages of production and local demand effects.
6. An increase in the share of college-educated immigrants by 1% increases productivity and wages for everybody in a city by 1%.
7. Immigrants accounted for well over 50% of the growth in employment in STEM-related fields between 2003 and 2008. . . ."
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