Tax the rich? Post-pandemic recovery idea finds favor in UK

first_img“So it seems clear that those with plenty will more than survive the economic crisis generated by COVID-19,” he wrote in an article on non-profit media platform The Conversation.  The respected ranking of the country’s 1,000 richest people found they had collectively lost £54 billion ($68 billion, 60 billion euros) in the last few months alone.But it still calculated their combined wealth at £743 billion. On the list were 147 billionaires, 89 of them in London — the highest concentration in the world.Inventor James Dyson, known for his bagless vacuum cleaners as well as recently relocating to Singapore, topped the list for the first time, with an estimated wealth of £16.2 billion.”The general rule, despite the changing fortunes of individual rich folk, is that money continues to rain upwards,” said Rowland Atkinson, a University of Sheffield professor and author of “Alpha City: How London was captured by the super-rich”.  In billionaire-friendly Britain, where the global coronavirus outbreak has hit hard, the idea of making the wealthiest pay more tax to help economic recovery is gaining ground.Mass unemployment, bankruptcies and other potential shocks could hit the richest but supporters of tax reform say they should still shoulder more of the burden.Britain’s wealthiest have seen tens of billions of pounds wiped off their annual combined wealth — the first fall in a decade, according to the Sunday Times “Rich List”. Austerity again? Atkinson argues Britain’s wealthiest are “protected” by their connections to the ruling Conservative party and ability to tap government bailouts, as well as more questionable tactics.Some billionaires have even been accused of trying to take advantage of public money during the health crisis via emergency government schemes and a loosening of regulations.Greenpeace has criticized entrepreneur Richard Branson, who it said has not paid taxes in Britain for 14 years, for demanding a bailout to save his Virgin Atlantic airline. Meanwhile, the specter looms large of another decade of austerity to mirror the period after the 2008 financial crisis when inequality rose and hit the poorest hard.Prime Minister Boris Johnson’s government, re-elected in December on a pledge to reduce regional inequalities, has spent tens of billions of pounds to cushion the virus fallout.But the deficit will explode to nearly £300 billion in 2020 and its financing will be a headache for his party, which has traditionally been reluctant to tax the rich.Johnson has suggested he will avoid excessive cuts to public services, given the backlash against the deeply unpopular austerity policies from 2010. He is also seen as unlikely to target the state-run National Health Service (NHS), whose doctors and nurses he credits with saving his life in hospital from COVID-19.NHS and other lower-paid frontline workers have been at the forefront of the fight against the pandemic, often paying with their lives.center_img ‘Big new proposals’ “I think these kind of events lay bare many of the underlying issues that have been present for much longer,” said Arun Advani, a professor at the University of Warwick. “The current government has shown that it is open to radical thinking to tackle the big questions now,” he added, pointing to government furlough schemes and state-backed loans. “I’m optimistic they are willing to consider big new proposals on raising tax as well,” he told AFP.A YouGov poll in mid-May indicated 61 percent of Britons backed a wealth tax on those with net worth of over £750,000. In a sign the idea is attracting increased attention, the Financial Times saw a record number of comments last month when it held a question-and-answer session on the topic. Richard Murphy, from London’s City University, said the UK tax system was highly regressive because it targets income at almost 10 times the rate of wealth, benefiting the better off.The tax expert conducted a study that found the government could raise up to £174 billion if it taxed wealth at the same rate as income.That could more than fund the NHS’ annual budget of around £120 billion. But Murphy suggested there were other ways the government could pick “low-hanging fruit”, including changes to income and capital gains taxes, allowances and reliefs.For Stanford University historian Walter Scheidel, the pandemic is precisely the kind of seismic world event that can spur change and reduce inequalities. “The coronavirus, like other plagues before it, could shift the balance between rich and poor,” he wrote in a New York Times article in April, “Why the wealthy fear pandemics”. Topics :last_img read more

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Trump says he will announce visa restrictions Sunday or Monday

first_imgPresident Donald Trump said on Saturday he would announce new restrictions on visas within a couple of days to block the entry of certain foreign workers and protect Americans struggling with a job market devastated by the coronavirus pandemic.”We’re going to be announcing something tomorrow or the next day on the visas,” he told Fox News Channel.Asked if there would be exclusions from the new restrictions, Trump said very few. The new action would be Trump’s latest step to restrict immigration in response to the pandemic and economic fallout.In April, he ordered a temporary block on some foreigners from permanent residence in the United States.He also announced new health-focused rules in March that allow for the rapid deportation of immigrants caught at the border and virtually cut off access to the U.S. asylum system.At the same time, he announced the land borders with Canada and Mexico would be closed to non-essential crossings, a measure that has been extended several times.Topics : “You need them for big businesses where they have certain people that have been coming in for a long time, but very little exclusion and they’re pretty tight,” he said. “And we may even go very tight for a period of time.”Trump, who has been expected to announce new restrictions, declined to provide further details.Critics have said Trump looked set to use the pandemic to achieve his longstanding goal of limiting immigration into the United States. His tough stance on immigration is central to his pitch to voters as he runs for re-election.Major American companies, particularly in the tech sector, have urged Trump to refrain from blocking the flow of foreign workers into the United States, saying it would hurt the economy.last_img read more

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Ocean Cleanup Tweaks, Redeploys Plastics Collecting System

first_imgThe Ocean Cleanup has completed another test campaign in the Great Pacific Garbage Patch, proving that its latest design solved a major issue.“After a 6-week testing campaign, our main technical challenge is solved by modifying the system to move at a consistent speed through the plastic,” the company said.Namely, a consistent speed through the plastic has been achieved using the parachute anchor configuration.However, The Ocean Cleanup added that the technology is not proven yet, as overtopping needs to be addressed before the plastic is effectively retained in the System 001/B.The company has now upgraded the system’s screen, increasing it from the previous 4 inches above the water to be almost 20 inches above the water, using three rows of floats stacked on top of each other.On August 18, The Ocean Cleanup’s CEO, Boyan Slat, said that the upgraded screen with supersized cork line was on its way to the Great Pacific Garbage Patch.The goal is to have the screen capture and retain the plastic without human aid for months at a time, with plastic harvested once in a while. The company is looking to remove at least 50% of the patch every five years by deploying a fleet of additional systems.The company started the initial testing phase last year when it deployed the System 001, also known as Wilson, in the Great Pacific Garbage Patch.In mid-January 2019, the Wilson completed its 800-mile journey and was taken to Hilo Bay, Hawaii, after it suffered a fatigue fracture.“This was not ideal, but both the diagnosis and solution came quite easily. The more complicated challenge was the system’s inability to retain plastic; instead of consistently going faster than the plastic, it alternated between going faster and going slower than the plastic. This meant plastic would float into the system, as planned, but then float out again.”As there wasn’t a single obvious fix to this, the company decided to set up the upgraded design, System 001/B, in a more modular fashion. This allowed a configurations trial that both sped up the system and slowed it down, in an attempt to find one that would result in a consistent speed difference between the system and the plastic.“We launched System 001/B in late June, which was followed by a six-week testing campaign to test slowing down the system using a parachute anchor and test speeding up the system using large inflatable buoys.”The Ocean Cleanup’s mission is to rid the world’s oceans of plastic. The company’s starting point is the Great Pacific Garbage Patch, the largest accumulation zone of plastic in the world.World Maritime News Stafflast_img read more

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Bulldogs JV Squad Winners Over Tigers

first_imgThe Batesville Bulldogs JV Baseball team wrapped up their season series with Lawrenceburg on Thursday evening coming out victorious by a score of 9 to 0. The Bulldog offense was consistent scoring at least one run in every inning except the sixth. They tallied 9 hits in total Brayden Linkel, Riley Zink, and Nate Eckstein each had two a piece. Six Bulldog hitters had an RBI. Along with the nine hits came 10 walks and 8 stolen bases.The Bulldogs were solid again defensively only committing one error but it didn’t amount to anything because Riley Zink was just about unhittable. He only gave up three hits in a shutout performance striking out 7 Tiger batters in 7 inning of work. He earned his first win of the season and drops his ERA to 1.46 on the season.Pitching continues to be a strength for the JV team as their team ERA is 2.37 through 9 games. The Bulldogs are scheduled to be back in action this Saturday with a pair of games against Madison at BHS the first one starting at 11 a.m.Courtesy of Bulldogs Coach Jason Meyer.last_img read more

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Xavi admits preparing to coach Barcelona

first_img Loading… Xavi has revealed his staff are preparing “a lot” to coach Barcelona as the Camp Nou great eyes a return. “It’s clear that after the elections the stage would be set, of course. I’m not ruling anything out. “They came for me in January, we were speaking. I told them the circumstances and timing weren’t right.” Barcelona’s next presidential election will take place in the summer of 2021 – usually a date in June – with current leader Josep Maria Bartomeu not seeking re-election. Xavi’s former team-mate Juan Antonio Pizzi believes the club legend is the ‘future of Barcelona’ and he is destined to return to his roots at manager when the right opportunity presents itself. “I think he evaluated the situation very well – there is the fact that he would be coaching former team-mates – but also the fact that he would be going home perhaps without the experience of having managed in La Liga,” Pizzi said. read also:Eto’o urges former team-mate Xavi to become the Barcelona manager “I think that led him to take the decision that he eventually took, to say: ‘Give me some time. I want to coach Barcelona and I think I’m prepared to do it but I think I have to develop myself a little bit more’. “I am absolute convinced that the future of Xavi and the future of Barcelona will come together at one point, I don’t know if in two years or five years or eight years but Xavi is going to be Barcelona coach, there is no doubt about that.” FacebookTwitterWhatsAppEmail分享 The current Al-Sadd boss was linked with the Barca vacancy earlier this year when the La Liga champions sacked Ernesto Valverde, before they turned to Quique Setien in January. Barca have struggled to convince this season – the titleholders now two points behind bitter rivals Real Madrid in the race for La Liga glory with six matches remaining. While outlining his future plans for Barca, the 40-year-old insisted he will not come back unless he has the control to make decisions. “The biggest hope I have now is to be Barca coach and get Barca back to winning ways,” Xavi, who has led Al-Sadd to Qatari Super Cup and Qatar Cup silverware, said via Sport. “Not me but these players and Barca triumphing. And as a consequence, our technical staff, who are preparing for it a lot and it makes us really excited.” Xavi, who won 25 trophies during his playing career with Barca, added: “I’m a club man. I would like to return at the right moment to start a project from zero. “I’ve said it a lot of times but I want to take footballing decisions at Barcelona. Promoted Content12 Actors Who Can Only Play Bad GuysWhich Country Is The Most Romantic In The World?6 Extreme Facts About HurricanesThe Funniest Prankster Grandma And Her GrandsonWho Is The Most Powerful Woman On Earth?The Very Last Bitcoin Will Be Mined Around 2140. Read MoreThe Highest Paid Football Players In The WorldCan Playing Too Many Video Games Hurt Your Body?7 Mind-Boggling Facts About Black Holes10 Risky Jobs Some Women DoThe Models Of Paintings Whom The Artists Were Madly In Love WithWhat Is A Black Hole And Is It Dangerous For Us All?last_img read more

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ISP investigating possible police impersonator

first_imgIndianapolis, IN – Troopers from the Indiana State Police Indianapolis District are investigating a citizen’s encounter with a possible police impersonator. An unidentified suspect pulled over a victim driving on I-74 westbound between the 99 and 103-mile markers, near the Shelby and Marion County line, on April 19. The suspect was driving a black and tan Dodge Charger and activated a full-sized red and blue light bar “emergency lights” to conduct a traffic stop on the victim. The suspect allegedly approached the vehicle from the driver’s side, tapped his flashlight on the window, and identified himself as a State Trooper. The man then requested the victim’s license and registration but never returned to his car with the documents. The suspect was described as a black male between five feet, eight inches and six feet, weighing 180 to 200 pounds with a buzzed haircut and mustache. He was wearing a police uniform consisting of a dark blue long sleeve shirt, dark blue pants, a red tie, badge over the left shirt pocket, and gloves. His badge was described as an oval with an eagle on top. The victim did not see any other identification, a hat, a gun belt, or firearm.Indiana law requires a police officer to either be in full uniform or a marked police vehicle to conduct a traffic stop. A police officer in plain clothes and an unmarked vehicle is not permitted to make a traffic stop for a traffic violation. Anyone with information about this suspect or suspect vehicle is asked to call Crime Stoppers at 317-232-TIPS (8477)last_img read more

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Neville announces retirement

first_img He added: “The biggest thing I will miss is July 4 when Everton are due back for pre-season training. I loved that day. I lived for it, getting back with the lads. My wife, she knows what I’m like. She’s saying ‘For God’s sake, don’t have any more time off!'” It does not seem that Neville will be moping around the house too much, though, with a move to join David Moyes’ backroom staff at Old Trafford widely reported. “If you had asked me two months ago, I thought I’d do a year with BBC or in the media,” he said. “It might work for some people but not me. “I will be going to the World Cup next year with the BBC – I won’t be going as a player! – I do enjoy the media side but I want to work, I want to coach, I want to get more hours on the grass. “I have got two paths – one to go into the media, the other to go into coaching and management. I have got offers from both. I will sit down at the end of the tournament.” The 36-year-old has a Champions League and six Premier League titles to his name after a career that started at Manchester United and ended at Goodison Park. Former England, Manchester United and Everton midfielder Phil Neville has called time on his playing career after 19 years at the top. Press Associationcenter_img Neville, who made 59 appearances for England, announced in April he was to leave Everton after eight years at the club. Initially he refused to rule out retirement, but has now confirmed that he will not be adding to his 505 Premier League appearances. Neville said: “When I made a statement that I was leaving Everton, everywhere I went I seemed to be getting ‘oh you’ve been brilliant’. I didn’t like it. I didn’t want to be seen as an attention-seeker. In my heart, I knew that I wouldn’t be playing again – at any level. I just wanted to drift away.” last_img read more

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Kompany injury scare for City

first_img Press Association Vincent Kompany gave Manchester City a fitness scare on the eve of their crucial Barclays Premier League trip to title-rivals Liverpool. Pictures emerged on Saturday of the City captain appearing to limp out of a training session ahead of the top-of-the-table clash. The influential defender was seen holding his knee and being helped from the field by team-mates after landing awkwardly following an aerial challenge. center_img City have confirmed that Kompany did not finish the session but that is not necessarily unusual after a knock, and the 28-year-old stayed off as a precautionary measure. He has since rejoined the squad and travelled as normal. The club are understood to be hopeful Kompany will be fit to play. City are also hoping top scorer Sergio Aguero will be able to return after five games out with a hamstring injury. Manuel Pellegrini’s side go into the game trailing leaders Liverpool by four points but with two games in hand. last_img read more

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Republic management OK after crash

first_imgRepublic of Ireland boss Martin O’Neill and assistant Roy Keane were involved in a road traffic accident but not seriously hurt on Tuesday. The Football Association of Ireland announced the incident in a post on its Twitter feed, and a team spokesperson confirmed all involved avoided serious injury and were able to return to the team hotel. The FAI stated on Twitter: ” The ROI mgmt team were involved in collision on M50 earlier. Vehicle was rear ended in traffic. Have rtn’d to hotel & been seen by team Doc” A spokesperson said O’Neill and Keane were accompanied by coaches S eamus McDonagh, S teve Guppy and Steve Walford at the time of the accident. The worst any of the five suffered were minor injuries, the FAI confirmed, with the team doctor able to look after their scrapes. The accident comes ahead of the Republic’s Euro 2016 qualifying match against Scotland at the Aviva Stadium in Dublin. The M50 motorway in Ireland runs in a C shape around much of Dublin. center_img Press Associationlast_img read more

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Garcetti, Schwarzenegger address homelessness

first_imgAccording to poll results, more than a quarter of voters know individuals who have personally experienced homelessness and felt the need for a combination of stricter restrictions and compassionate policies.  Katie Ross, a junior majoring in public policy, said she enjoyed the bipartisan nature of the event.  More than 150 students attended “Unhoused: Addressing Homelessness in California,” which included input from Los Angeles Mayor Eric Garcetti, former California Gov. Arnold Schwarzenegger and Department of Housing and Urban Development Secretary Ben Carson regarding potential solutions to homelessness and public perceptions of the housing crisis in California.  Garcetti also looked back on the state’s past of abundant jobs and affordable housing and called the state of homelessness in California a “double heartbreak.” He hopes the situation will improve in the near future.  “There were a lot of people from Democratic sides as well as Republican ideologies,” Ross said. “I thought it was a really interesting way of bringing everyone together on social issues, especially homelessness that’s affecting a lot of California.” “You can’t tell me that it’s more important to build a stadium than it is to house and treat the least among us — the homeless,” Davis said.  Mayor Eric Garcetti spoke about the decline of job availability and increase in homelessness in California at a Price school event Thursday. (Ling Luo | Daily Trojan) Former California Gov. Gray Davis said homelessness in L.A. is in a state of emergency and that the issue should have the same priority as L.A. sports stadiums have had in the past. Levi’s Stadium, home to the San Francisco 49ers, was able to override environmental reviews in 2010.  After Turk’s opening, Urban Voices Project — a community that helps those who have experienced homelessness cope through music — danced down the aisle, energizing the crowd by singing “Walk with Me.” The group shared musical numbers with the audience that many of the members related to, including Marilyn Irizarry, who experienced homelessness for decades in part due to health issues including breast cancer.  Price School of Public Policy Dean Jack Knott compared the dramatic disparities of living costs and low income wages in L.A. with other states, including Texas, Ohio and Arkansas. “There are lots of people in the state who are impacted by homelessness … or are afraid that they could become homeless themselves,” Academic Director of the Schwarzenegger Institute Christian Grose said. “There’s a lot of inconsistency in attitudes about policies where people favor some sort of restrictive policies and others favor much more compassionate policies.” Carson highlighted programs that HUD has implemented to address housing insecurity in the United States, including awarding more than $2 billion to support local homelessness assistance programs such as local churches. Carson also said liberals and conservatives need to work together to solve the crisis.  “There are over 150,000 people in our state that are considered homeless,” he said. “For them, the golden dream is out of reach and that is unacceptable … Almost 40% of the people are afraid that they or someone in their family will become homeless. These numbers are staggering. [Homelessness] is a crisis. We can do better, and we must do better.”  Downtown Women’s Center CEO Amy Turk began the event by emphasizing the crisis of homelessness affecting 18,000 women across Los Angeles County along with seniors, LGBTQ people and people of color. She urged those in attendance who hold powerful positions to brainstorm solutions to address affordable housing.  Homelessness is a significant issue among California voters leading up to the March primary election, according to a poll USC released at a Thursday event hosted by USC Schwarzenegger Institute and the Sol Price Center for Social Innovation. A panel of past and present government officials also spoke on the state of homelessness in California at Town and Gown during the event.  “Women have told us what they need in terms of housing, community resources and healthcare,” Turk said. “It’s now on us, who hold privileged positions within government, academia and advocacy to align funding, legislation and further research to those needs.” “The combination of [low income and high housing costs] means that we are the most expensive and unaffordable city in the country,” Knott said.  Schwarzenegger called California “the most beautiful place in the country” and a “golden dream,” acknowledging how California encourages people to visit the state. However, he said the state has left the homeless community behind.  “I hope to have that conversation one day of saying, ‘Now nobody has the right to be on a sidewalk,’” Garcetti said. “[To say that] today, you will get a [housing] voucher regardless of your immigration status, regardless of your age, regardless of whether you’ve served time.”last_img read more

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