Contributed by mm | February 12, 2004 02:19 PM
PST
What is poverty? Walter E. Williams put its definition this way in his article "How can it be?": "46 percent of poor households actually own their homes; 76 percent have air conditioning; the typical poor American has more living space than the average non-poor individual living in Paris, London, Vienna, Athens and other cities in Europe; nearly 75 percent of poor households own one car, and 30 percent own two or more cars; 97 percent have at least one color television; 62 percent have cable or satellite reception; and 25 percent have cell phones."
These are not fictious numbers. They come from the research "Understanding Poverty in America" by Robert E. Rector and Kirk A. Johnson, Ph.D. from the Washington-based Heritage Foundation. 
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2003: More Bankruptcy Filings Than Ever (February 27, 2004)
According to this news release from Administrative Office of thre U. S. Courts, 2003 saw the highest number of bankruptcy filings than any previous calendar year. A total of 35,037 businesses and 1,625,208 non-business entities (individuals) have filed for bankruptcy in the past year. The ... Read
No More Free Ride? (February 22, 2004)
CFO Magazine speculates that the end of the tax-friendly status of online commerce and Internet access is close. First, cash-strapped states now have a lot of incentives to assess tax on the booming businesses of Internet commerce. Second, the Streamlined Sales Tax Project is taking ... Read
Foreign Banks May Impact Mortgage Rates (January 28, 2004)
Greg McBride explained in this BankRate article why changed behavior of foreign banks, like the recent rate cut in Japan and Canada, will bring upward pressure for US domestic long-term interest rates. Read
The Great Supply-Side Experiment of 2003 (January 03, 2004)
Jerry Bowyer in this article argued the 2003 Bush tax cut provides evidence that the dubious claim of the supply-side economics, "cuts in marginal tax rates can actually lead to increases in tax revenues when tax rates are above the level of optimization," can be ... Read
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