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Reduction of Federal Budget Deficit
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Institution

United States federal government has run deficit budgets in 36 out of the last 40 years. A deficit budget occurs when government spending exceeds the total taxes collected. The government of the day has to borrow either internally or externally to fund the debt. Budget deficits are not necessarily bad because they accelerate economic growth (Alesina & Ardagna, 2010). However, debt increases beyond certain levels impact the economy negatively. For instance, high government debt implies that the savings generated in the economy will be used to repay the debt instead of being invested in development activities. High interest costs created by huge debts discourage work and savings are reduced. US annual debt currently stands at 7 percent of gross domestic product compared to the general average of 3 percent of GDP. This paper suggests different policy options that should be undertaken to reduce the budget deficit by 2.5 trillion US dollars over the next 10 years. Some of the policies relate to reduce spending while others relate to increase taxes.
By applying the following measures, the federal government will be able to reduce spending by 940 billion dollars, increase revenue by 1561 billion dollars and eliminate 2.501 trillion dollars from the federal budget deficit. By increasing taxes on alcoholic beverages by 40, cents on a fifth of liquor and 50 cents on a six-pack of beer or a bottle of wine, the federal government will increase revenues by 63.8 billion dollars. Eligible business owners should pay Medicare/social security taxes based on both their share of firm’s profit and their personal income. This action will help the government raise revenue by 129 billion dollars. An increase of corporate tax rate by one percent will lead to 113 billion dollars increase in national revenue. A repeal of certain tax preferences for gas, oil and mining industries would increase tax revenue by 33.8 billion dollars. Special deduction offered to some production activities should be repealed to reduce spending by 192 billion dollars (Bartel & Davenport, 2014).
The federal government should impose an annual fee on large financial institutions, and this would help raise 64.4 billion dollars. The terms for federal gas and oil leasing, including expansion of offshore drilling should be changed, and this act would reduce the deficit by 5.9 billion dollars. Federal insurance premiums that are paid by employers should be increased to cut the deficit by 5.3 billion dollars. An increase in excise tax on cigarettes to 1.51 dollars a packet would increase revenue by 37.4 billion dollars. Ford class aircraft carriers used by defense should stop being build to cut on spending by 10.2 billion dollars. Development of a new long-range bomber should also be deferred. Pell grants should be limited to the neediest students to cut on spending. Retirees who had higher earnings should have their social security reduced. Highway funding should be limited to revenues from fuel taxes and other road related taxes. If this were done, spending would reduce by 64.5 billion dollars (Bartel & Davenport, 2014).
The different policies described above have economic benefits and tradeoffs. Limiting funding of highways to user fees has many economic benefits. Some of these benefits include reduction in government spending, reduction in air pollution, reduction of congestion on major highways and promotion of wiser infrastructure investments. The limitation associated with this policy is that less fuel would be consumed. Individuals who own cars would prefer using public means and thus leaving their cars at home. An increase in corporate taxes by one percent will lead to several economic benefits. The national government will raise more finances and thus reduce the government deficit. However, the effect of an increase in corporate taxes will mostly depend on the timing. During recession, spending would decrease significantly but during boom, spending would not be affected much. The tradeoff of increasing corporate taxes is that investment spending can decrease significantly. Investors would cut their investments and this will decrease their earnings. The economy can also be affected if the decrease in investment spending is significant.
Increase of excise tax on cigarettes and alcoholic drinks have the economic benefit of increasing revenue and thus lowering budget deficit. The expectation would be that consumption of these products would not be affected by the increase. In reality, however, increase in this taxes will cause a reduction in consumption thus lowering the level of spending in the economy. This policy will affect both the users of these products and the producers. The consumers will be forced to take less of the products due to the high prices. The companies that produce these products would also be affected because demand for their products would be affected negatively. If the impact is significant, it may affect economic growth in the end. There are several economic reasons why budget deficit should be decreased. An increase in public debt beyond certain levels implies that most of the countries savings will be used to pay interest costs. When debt levels are high, the country’s savings are used to pay the debt instead of developing the economy. This leads to slow economic growth (Bussiere, Fratzscher & Muller, 2010).…...

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Mr, Dr

...公司概述 [pic] 隨著時代的變遷和生活節奏的加快使得人們追求營養而便捷的食品﹐而生活方式的改變催生了方便食品的興起。今天我們要介紹的Kellogg Company就是一家具有百年歷史的方便食品生產商。 出生於1860年的Will Keith (W.K.) Kellogg雖然只受過六年的正規教育﹐但是當他意識到美國人的早餐飲食習慣開始從重口味和多脂肪向清淡和更多的穀物類食品轉變時﹐便異常敏銳地抓住了這個機會。1906年他與兄弟John Harvey Kellogg博士一起成為了穀物薄片食品的聯合發明人﹐從此永久性地改變了人們的早餐方式。當時他們發現只使用去殼玉米或玉米甜芯生產的玉米薄片﹐其口感和營養價值更好。於是他們成立了Kellogg Company ﹐開始在密執根的工廠生產這種Kellogg’s Corn Flakes®玉米薄片﹐隨著產品的不斷開發和市場的擴張﹐該公司大大影響了全球的食品行業。 1914年W.K. Kellogg開始進行全球性擴張﹐到1938年公司已經在英國和澳大利亞設立了工廠。1951年W.K. Kellogg過世後﹐Kellogg仍然維持其擴張經營的策略﹐在拉丁美洲和亞洲也設立了生產廠。1952年1月9日公司通過首次公開發行股票成為公眾上市公司﹐當時以每股23.75美元的價格發行了41.5萬股股票﹐股東人數為4000人。1958年公司正式採用Tony the Tiger®成為公司玉米薄片產品的唯一標誌﹐從此Tony虎也成為美國文化的中流砥柱之一。 Kellogg具有突破性的發明創造性方便食品包括Pop-Tarts®餡餅皮﹑Eggo®冷凍華夫和Nutri-Grain®棒。公司以其健康導向和方便創新的象Special K, All Bran以及Product為品牌的穀物類早餐食品奠定了其行業的龍頭地位。1999年公司通過收購素食食品生產商Worthington Foods ﹐以及2000年收購有機食品生產商Kashi Company來擴大其營運範圍。2001年公司以46.5億美元的價格收購了餅乾及薄餅生產商Keebler Foods Company ﹐同時這也是公司歷史上最大的一宗收購兼併案。2002年公司與迪斯尼建立了全球合作夥伴關係﹐推出了更多的穀物類新產品和零食產品。 到2005年公司的年銷售收入超過了100億美元﹐其方便食品包括有餅乾﹑薄餅﹑烤餡餅﹑穀物棒﹑冷凍華夫和肉類食品等。公司的商品品牌包括Kellogg’s®, Keebler®, Pop-Tarts®, Eggo®, Cheez-It®, Club®, Nutri-Grain®, Rice Krispies®, All-Bran®, Special K®等等﹐在全球17個國家設有生產廠﹐產品銷售到180多個國家。而象Tony the Tiger™, Snap! Crackle! Pop!™, Toucan Sam™和 Ernie Keebler ™這樣的公司圖像也成為廣告中最為人們所熟悉的形象。 主要產品 按照產品種類來劃分﹐公司產品主要分為穀物類產品﹐基本佔到公司總營收的53%左右﹔零食產品﹐其營收佔到總銷售額的32% ﹔其它產品﹐其營收佔到總銷售額的15%左右。 按照地域來劃分﹐北美銷售收入佔到公司總收入的67% ﹐歐洲佔到20% ﹐拉丁美洲佔到8% ﹐亞太地區佔到5%。 即食穀物類﹕公司生產各種成人及兒童用即食穀物產品﹐其主要品牌有Kellogg’s ﹑All-Bran ﹑Apple Jacks......

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HERE Drive | Jack Lemmon | saison 20, épisode 20 - Manucure pour 4 femmes