short essays 10 / 23

Write 2 short essays (not much more than 100 words each) telling what economic and political principles (which we have studied in this course) are reflected in this proposal & the description of our economy now. Mention other historical periods. Write sentences. Write clearly.
….. suggested taxing carbon dioxide emissions instead of employees' pay in a bid to stem global warming. "Penalizing pollution instead of penalizing employment will work to reduce that pollution," ……..The pollution tax would replace all payroll taxes, including those for Social Security and unemployment compensation, …….. said the overall level of taxation, would remain the same. ……"Instead of discouraging businesses from hiring more employees it would discourage business from producing more pollution," …. also proposed that the United States re-join any successor to the UN Kyoto Protocol for curbing global warming beyond 2012. Scientists believe global warming is caused by the trapping of greenhouse gases, including carbon dioxide, in Earth's atmosphere. The consequences of this climate change include rising seas, stronger storms and intense heat waves














Corporate profits have risen 62.2% since beginning of recovery, compared to average growth of 13.9% at the same point in the last eight recoveries that have lasted as long as the current one …. fastest rate of profit growth in a recovery since World War II. Total labor compensation …. has fallen as a share of GDP from 66.5% in late 2000 to 62.7% today. ……growth in total wage and salary income, the primary source of take-home pay for workers, has actually been negative for private-sector workers: -0.6%, versus the 7.2% gain …average increase …. ominous signs, suggesting a new march toward greater inequality in the American economy. Worse, the growth in profits combined with a drop in wage and salary incomes suggest that the recovery has a narrow base, with most American consumers only able to increase their purchasing power through debt ……. 14th straight quarter,… share of GDP that consists of wage and salary income fell …. unprecedented during the post-World War II era …. Over a million people falling into poverty annually for the last 4 years ….