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1 Article
Source: The Guradian

How to be rich and morally worthy: the dilemma of wealthy New Yorkers

Tuesday 11:47 GMT

The failure to connect what C Wright Mills called “personal troubles of milieu” – by which he meant problems of individuals in their immediate social environments – to “public issues of social structure” is the same.

Ultimately, I realised that these were conflicts about how to be both wealthy and morally worthy – especially at a historical moment of extreme economic inequality. The wealthy women that Susan Ostrander studied for her book Women of the Upper Class, born mainly between 1900 and 1940, appeared comfortable with their class privilege.

1 Article
Source: Washington Post

White House seriously considers abandoning some tax cuts for the wealthy

Wednesday 17:19 GMT

White House and GOP leaders are considering major changes to upcoming tax legislation, including scaling back plans for large-scale tax cuts for the wealthy, as Republicans seek to win support from Democrats in Congress, three people briefed on the discussions said.

In April, the White House put out a one-page blueprint of its tax plan that would have repealed the estate tax, eliminated the alternative-minimum tax and cut the top individual tax rate from 39.6 to 35 percent.

1 Article
Source: Reuters

As Apple slows, fast-moving Chinese rivals gain in wealthy markets

Thursday 11:46 GMT

To be sure, Apple maintains a healthy market share lead over Chinese rivals in the premium segment, and few experts see Apple fans switching from the iPhone X to Huawei’s Mate 10.. “The biggest challenge they (Chinese firms) face would be proving to consumers their products and brand are worth paying that much for,” said Xiaohan Tay, an analyst at research firm IDC.

In the $600-plus segment, Apple has 63 percent market share, against just 3 percent for Huawei, and the U.S. firm’s retention rate of around 82 percent, versus Huawei’s 52 percent, suggests it will be tough for Chinese firms to raise their prices, according to UBS.

1 Article
Source: CBS News

Manafort offered wealthy Russian briefings on Trump campaign - report

Thursday 21:52 GMT

Citing people familiar with the discussions, the Post said that Manafort penned an email through an intermediary, offering briefings to Russian billionaire Oleg Deripaska, an industrial metals magnate with ties to the Kremlin.

One email noted by the Post seems explicitly to show Manafort's desire to use his position with the Trump campaign to profit. In April, soon after he was named strategist for the campaign, Manafort apparently pointed to the positive press he was getting and wrote, "How do we use to get whole?"

1 Article
Source: Washington Post

GOP leaders circulating plan that could end as massive tax cut for the wealthy

Monday 22:48 GMT

White House officials and Republican leaders are preparing a set of broad tax income and corporate cuts while also looking for a way to keep their plan from being a massive windfall for the wealthiest Americans, two people familiar with the plan said.

White House advisers are divided over whether to cut the top individual tax rate, and Republican leaders, aware the plan could be construed as a huge giveaway to the wealthy, are trying to design features to the package that would ensure that the rich don't get too large a share of the plan's tax relief.

1 Article
Source: Global News

Wealthy Canadians already pay enough taxes, argues CTF

Today 04:18 GMT

“Prime Minister Justin Trudeau recently claimed that ‘the middle class pay too much in taxes and the wealthiest don’t pay enough,'” said the CTF study’s author, policy analyst and economist Mark Milke.

A study commissioned by the group and released Monday shows that while Canadians who make over $100,000 a year (before tax) represent just 8.4 per cent of tax filers across the country, they were responsible for 52 per cent of all income tax revenue collected by the federal government in 2014 and 54.5 per cent of all provincial income tax collected.


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