The Economist (December 8)
“After years of bad headlines the industry finally has some good news.” Over the past decade, newspapers took a terrible tumble as U.S. revenues nearly halved. But newspapers haven’t died and things may be looking up. “Revenues from advertising are still falling, but those from circulation have at last started to stabilise. At some papers, such as the New York Times, circulation revenues this year are forecast to offset the decline in advertising for the first time in at least five years.”“After years of bad headlines the industry finally has some good news.” Over the past decade, newspapers took a terrible tumble as U.S. revenues nearly halved. But newspapers haven’t died and things may be looking up. “Revenues from advertising are still falling, but those from circulation have at last started to stabilise. At some papers, such as the New York Times, circulation revenues this year are forecast to offset the decline in advertising for the first time in at least five years.”
Tags: Advertising, Circulation, Newspapers, Revenue, U.S.
Financial Times (July 2)
Prime Minister Noda took a step in the right direction by increasing the consumption tax. “It was right of Mr Noda to push for the reform, which lifts the 5 per cent consumption tax to 8 per cent, then 10 per cent by 2015.” By achieving the increase, he has defied “impressions that Japan’s politicians cannot get anything done.” The increase will help to narrow the revenue gap. It will also begin to redistribute wealth from older generations to younger generations.
Los Angeles Times (February 26, 2012)
The Parthenon, Delphi and other heritage sites will generate revenue as sets for ads, films and other promotions. Some modern Greeks find this unsavory. Yet, 2,500 years ago similar measures were taken by Greeks confronting an earlier financial crisis. “Pericles would no doubt admire modern Greeks for using cherished relics to bootstrap themselves out of crisis. So would Thucydides, Pericles’ great fan and chronicler. Both men were modernists and pragmatists, willing to regard even a sacred shrine as a revenue stream. In tough times, they understood, a brave nation does what must be done.”
The Parthenon, Delphi and other heritage sites will generate revenue as sets for ads, films and other promotions. Some modern Greeks find this unsavory. Yet, 2,500 years ago similar measures were taken by Greeks confronting an earlier financial crisis. “Pericles would no doubt admire modern Greeks for using cherished relics to bootstrap themselves out of crisis. So would Thucydides, Pericles’ great fan and chronicler. Both men were modernists and pragmatists, willing to regard even a sacred shrine as a revenue stream. In tough times, they understood, a brave nation does what must be done.”
Tags: Delphi, Financial Crisis, Greece, Parthenon, Pericles, Revenue, Thucydides
New York Times (May 4)
Harvard Professor Martin Feldstein writes that raising the income tax rate is unnecessary. Limiting tax deductions, allowances and other credits is, however, essential. Feldstein proposed capping these at 2% of each tax payer’s adjusted gross income. This alone, “would raise tax revenue by $278 billion — nearly 30 percent of total projected income tax revenue for this year.”
Tags: Deductions, Rate, Revenue, Tax, U.S.
Financial Times (April 17)
To close its budget shortfall, America needs to tackle tax reform. Tax simplification could eliminate “the lunatic complexity of the US tax code” and provide a “free lunch” to a nation stretched for dollars. “Gradually eliminating tax exemptions for mortgage interest, employer-provided healthcare, and myriad other expenditures…would raise so much money that tax rates could be deeply cut even as revenues were increased.”
Tags: Budget, Revenue, Tax reform, Taxes, U.S.
