Next-generation networks are hard to build. It takes a lot of money and effort to lay fiber, install wireless infrastructure, build satellite earth stations, and more. It also requires a reasonably certain business case for deployment, which is all too often hard to prove in parts of the country with sparse population and/or lower incomes.
Most high-income people in our country do not realize that their incomes are being subsidized by their protection from competition from highly skilled people who are prevented from immigrating to the United States. But we need such skills in order to staff our productive economy, so that the standard of living for Americans as a whole can grow.
While households that make anywhere from $48,000 to $250,000 can call themselves middle class, to group such a wide range of incomes under one label, as politicians love to do, is to confuse the term entirely.
Most families rely on two incomes to make ends meet, and when a woman earns less, we put working families at a huge disadvantage.
At a time when the GOP is playing games with the debt limit, a member of the Supreme Court is refusing to recuse himself from matters he has a financial interest in, and middle class incomes are stagnant, many want to change the subject. I don't. This was a prank, and a silly one. I'm focused on my work.
If governments start to go it alone on trade, it will become harder, not easier, to generate the jobs and rising incomes that angry electorates want.
There is nothing inherently fair about equalizing incomes. If the government penalizes you for working harder than somebody else, that is unfair. If you save your money but retire with the same pension as a free-spending neighbor, that is also unfair.
Yes, free markets tend to produce unequal incomes. We should not be ashamed of that. On the contrary, our system is the envy of the world and should be a source of pride.
Because tax cuts create an incentive to increase output, employment, and production, they also help balance the budget by reducing means-tested government expenditures. A faster-growing economy means lower unemployment and higher incomes, resulting in reduced unemployment benefits and other social welfare programs.
Rising incomes and positive demographics will provide opportunities for retail financial services in India.
