The New York Times (July 6)
Chinese workers need better pay, better working conditions and independent labor unions. In short, “they need China to stop being sweatshop to the world.” The New York Times says “China needs to move on” from its export strategy, which depends on cheap labor and a weak currency. This strategy helped the country develop quickly over the past decade, but it’s now time to pay more attention to the workers.
The Los Angeles Times (July 5)
2010 is the year to throw grandma off the train. That is, if she lives in the U.S. In 2010 only, there is no estate tax on inheritance. The estate tax expired in 2009. From 2011, estates exceeding $1 million will again be taxed. Dan Duncan became the first billionaire to die during this one-year window. His heirs will not pay taxes on their windfall. The Los Angeles Times opinion piece argues that taxing inheritance is very important for the health of a society, especially in the U.S. where “the wealthiest 1% of Americans own more than 33% of the country’s wealth.”
