Less than a year into his presidency, Donald Trump is making huge strides to reform the taxing system, for better or for the worse. In his new plan, President Trump plans to cut down the tax for corporations and small businesses across America, all while maintaining higher taxes for wage earners. With this new plan, Neil Irwin, the senior economics correspondent for the New York Times, believes that many loopholes are going to be involved. Irwin argues that Trump's new reform policy will benefit high end corporate moguls and lower class members will seek loopholes in order to reduce personal taxes.
For low income citizens, or even lower middle class members, President Trump's plan will be a financial burden. However, because the new system benefits citizens working in corporations, Irwin believes people will "play the game" and maneuver away from high taxation. To simply explain the cost benefits and disadanvantages of the new plan, Irwin draws a parallel by stating, "My earning are labor income; I happen to be in the 28 percent tax bracket. Suppose I instead formed Irwin Scribblings, LLC, a "company"... could contract with The Times to provide articles about economics for a rate equivalent to the value of my current salary and benefits". By exemplifying the new system through a personal point of view, Irwin effectively captures the "loophole" in which millions of Americans will begin to seek in order to reduce annual tax payment. By creating an own "Irwin Scribblings LLC", Irwin believes US citizens will cut their rates over ten percent, a significant portion of people's income. However, the new policy is not the first time these tricks have been sought out by the public as Scott Greenberg, an analyst at the Tax Foundation states, "As long as you have differential rates, there will always be incentives to try to classify income in ways that take advantage of whichever rate is lower". Through a reference to a credible expert in the field, Irwin effectively capture his argument as he validates his point that people will continuously attempt to find "incentive" to reduce the taxes, such as joining a corporation in order to manipulate Trump's system. There will always be a large portion of the American population that seek new ways to "play around" the system and this always has and will be a continuous economic pattern.
In one of President Trump's first major economic reform policies, thousands of high corporate bosses will reap the benefits from the changes, all while millions of Americans will end up paying nearly double the percentage of the high end workers. In all, Neil Irwin believes there will evidently be a loophole around these new reforms, and will continue to cause more and more Americans to cheat the system.
Link: https://www.nytimes.com/2017/04/28/upshot/under-the-trump-tax-plan-we-might-all-want-to-become-corporations.html?_r=0
Saturday, April 29, 2017
Sunday, April 23, 2017
TOW #26 - The smartphone is eventually going to die — this is Mark Zuckerberg's crazy vision for what comes next
Just in the past decade, the world has experience a technological boom with the rapid innovations of the Internet, smartphones, and most notably, social media. With nearly every American staring at their smartphones every single day, technology has undeniably made huge advancements. However, social media mogul, Mark Zuckerberg, believes smartphones will eventually die off. Zuckerberg created a 10-year plan for Facebook, a long term program that projects to make even greater advancements in the technological realm. Rather than a hand held device, Zuckerberg believes that his plan can transform everyday lives through the use of cutting-edge technology.
Facebook boldly projects a society that has never been seen before: a world without screens. Many wonder how this is possible, given the fact that the company's application itself runs on devices with screens. For Zuckerberg and his team, they believe that smartphones are only part of the beginning stages of their ten year plan. In the future, the hope is that, "instead of smartphones, tablets, TVs, or anything else with a screen, all our computing is projected straight into our eyes as we type with our brains". While hand-held devices have already altered the lifestyle of millions of smartphone users, the company's projection will revolutionize how humans see, hear, and perhaps, think. The use of artificial intelligence to virtual reality may soon change the fantasy into a reality considering Facebook's rapid technological advancements that Facebook has made. Just in the past week, the leaders of virtual reality, Oculus "unveiled Facebook Spaces, a social VR app that lets denizens of virtual reality hang out with each other." By the end of the ten year plan, the connectivity between humans will undoubtedly alter as there may be a dual-universe in which people live in. The human behavior and interactions between one another may never be the same if the company's plan holds true.
With incredible innovations and inventions quickly making great strides, Mark Zuckerberg and Facebook may have a serious impact on individuals' everyday lives. In less than a decade, humans may completely change their daily habits thanks in part to the "crazy vision".
Link: http://www.businessinsider.com/facebook-f8-mark-zuckerberg-augmented-reality-2026-2017-4
Facebook boldly projects a society that has never been seen before: a world without screens. Many wonder how this is possible, given the fact that the company's application itself runs on devices with screens. For Zuckerberg and his team, they believe that smartphones are only part of the beginning stages of their ten year plan. In the future, the hope is that, "instead of smartphones, tablets, TVs, or anything else with a screen, all our computing is projected straight into our eyes as we type with our brains". While hand-held devices have already altered the lifestyle of millions of smartphone users, the company's projection will revolutionize how humans see, hear, and perhaps, think. The use of artificial intelligence to virtual reality may soon change the fantasy into a reality considering Facebook's rapid technological advancements that Facebook has made. Just in the past week, the leaders of virtual reality, Oculus "unveiled Facebook Spaces, a social VR app that lets denizens of virtual reality hang out with each other." By the end of the ten year plan, the connectivity between humans will undoubtedly alter as there may be a dual-universe in which people live in. The human behavior and interactions between one another may never be the same if the company's plan holds true.
With incredible innovations and inventions quickly making great strides, Mark Zuckerberg and Facebook may have a serious impact on individuals' everyday lives. In less than a decade, humans may completely change their daily habits thanks in part to the "crazy vision".
Link: http://www.businessinsider.com/facebook-f8-mark-zuckerberg-augmented-reality-2026-2017-4
Wednesday, April 5, 2017
IRB Post #4
For the final marking period, I have decided upon reading Star Struck: Seeing the Creator In the Wonders Of Our Cosmos. The book integrates the scientific world with the religious world as the professor of Eastern University examines evidences of the existence of God through the means of studying astronomy. I am excited to read this book as I believe this may expand my knowledge of the natural world as well as develop my faith even further.
Saturday, April 1, 2017
TOW #25 -IRB The Closer
Mariano Rivera, one of baseball's all-time bests, has won almost all possible accolades throughout his highly successful 19 seasons as a New York Yankee. Starting out his career from a long, slinky kid from the streets of Panama to closing out numerous World Series Games under the bright lights of Yankee's Stadium, Rivera's journey toward success is far from ordinary. Rivera is truly a "legend built from the group up" who continues inspire people through his version of the "American Dream".
While there are 29 other Major League teams and millions of non-Yankees fans, all baseball fans can agree on one fact: Mariano Rivera's career was undeniably one of the best in MLB history. But what separates Rivera from other Hall of Fame players such as Nolan Ryan, Cy Young, and Steve Carlton is his journey towards being on a Major League roster. As a young, naive Puerto Rican teenager, Rivera dealt with obstacles that most American baseball players do not face in the already difficult race towards the Major Leagues. With language barriers, fierce competition with well-prepared players and no friend and family to support him in the United States, Rivera constantly fought through the difficulties. Yet, in the midst of all the difficulties, Rivera revealed his strong mentality as he explained his philosophy as “I just try to take away what I can from every situation, to always keep learning. Life is hard. Life is humbling. I do all I can to keep it simple”. The tenacious personality was what got him through the hard hits in his life, and his firm mindset and humble personality led to great success throughout his long career. Now, he is an inspiration to not just American fans, but to Puerto Ricans back at home and all around the globe. Rivera will not only be remembered as a dominant force for nearly two decades in the Majors, but also a true professional in which all people can learn a lesson or two through his story.
Although Rivera eventually received notable accolades and will be remembered as Major League Baseball's all-time saves and ERA leader, thirteen-time All-Star, and a five-time World Champion, he did not by any means just "receive" these goals. By overcoming long day and nights, Mariano Rivera made history through his incredible motive. Through his composed character, Rivera is not only a baseball player, but a great role model from which everyone can learn from.
While there are 29 other Major League teams and millions of non-Yankees fans, all baseball fans can agree on one fact: Mariano Rivera's career was undeniably one of the best in MLB history. But what separates Rivera from other Hall of Fame players such as Nolan Ryan, Cy Young, and Steve Carlton is his journey towards being on a Major League roster. As a young, naive Puerto Rican teenager, Rivera dealt with obstacles that most American baseball players do not face in the already difficult race towards the Major Leagues. With language barriers, fierce competition with well-prepared players and no friend and family to support him in the United States, Rivera constantly fought through the difficulties. Yet, in the midst of all the difficulties, Rivera revealed his strong mentality as he explained his philosophy as “I just try to take away what I can from every situation, to always keep learning. Life is hard. Life is humbling. I do all I can to keep it simple”. The tenacious personality was what got him through the hard hits in his life, and his firm mindset and humble personality led to great success throughout his long career. Now, he is an inspiration to not just American fans, but to Puerto Ricans back at home and all around the globe. Rivera will not only be remembered as a dominant force for nearly two decades in the Majors, but also a true professional in which all people can learn a lesson or two through his story.
Although Rivera eventually received notable accolades and will be remembered as Major League Baseball's all-time saves and ERA leader, thirteen-time All-Star, and a five-time World Champion, he did not by any means just "receive" these goals. By overcoming long day and nights, Mariano Rivera made history through his incredible motive. Through his composed character, Rivera is not only a baseball player, but a great role model from which everyone can learn from.
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