Monday, April 23, 2012

Barack Obama introduces --> "Buffett Rule"

About 25% of wealthy people pay a lower effective tax rate then millions of lower class Americans. Barack Obama introduced the "Buffett Rule" to establish unfairness in taxing Americans. Also this bill ensures wealthy Americans like investor Warren Buffett cannot continue to pay a lower tax rate and that they have to pay 30% of income taxes. Do you think Barack Obama's "Buffet Rule" is a great idea even though some of though wealthy Americans make money from there capitals thus paying a lower tax rate?

Wednesday, April 18, 2012

Child Labor Abuses

The plight of the 13-year-old child maid in India, locked up in her employers’ home and treated like a slave, is not unique to India (“Maid’s Cries Cast Light on Child Labor in India,” front page, April 5).

The International Labor Organization estimates that nearly 30 percent of the 50 million to 100 million domestic workers worldwide are children. The Indian girl’s employers dispute her claims of abuse, but Human Rights Watch has documented many such cases.

In countries like Indonesia, Morocco and Guinea, we have found girls working 12 or more hours a day, seven days a week, for a fraction of the minimum wage — if they are paid at all. Many are subjected to physical and sexual violence, and few ever attend school.

A groundbreaking new international treaty offers some hope for addressing these abuses. The I.L.O. Domestic Workers Convention, adopted last year, prohibits domestic work by young children and entitles domestic workers to days off, minimum-wage coverage, limits to hours of work, and other rights that most workers take for granted.

Already more than a dozen governments are reforming national laws to strengthen protections for domestic workers. Implementation of the new convention could improve the lives of millions of women and girls.

Friday, April 6, 2012

Yahoo Layoffs and a new CEO

The article I read from CNN was about the 2000 workers who will be laid off scheduled for April 17th by the Yahoo company. The bold decision came from the new CEO, Scott Thompson, who said the job cuts are "an important next step, toward a bold, new Yahoo--smaller, nimbler, More Profitable and better equipped to innovate. The part about more profit, $375 million a year, is the part that stick out to me. In this difficult economical time I think the already rich business owners should be using their advantageous position to help the economy, not contribute to unemployment. This article relates to the early 1900's because the business owners back then seam to have controlled everything. In 1890 the wealthiest 10% of people owned 73% of the wealth, in 1990 it was at 68%. In a century the number barely changed, this means that when you control the money, you control the power as well.