Archive for February 19th, 2016

Karnataka Govt is again out to collect life time road tax…

February 19, 2016

One just does not understanding the way things work in India. The central govt and some state govts are busy telling us about virtues of Make in India/Digitial India etc. The mango man is being asked to give up all kinds of subsidies and pay all its taxes. Big talks are on regarding GST and how it will streamline things. There are talks of service tax being further raised to 16% in the upcoming budget to bring the tax rate in line with future GST rate.

However, on the other hand State governments like Karnataka are completely undoing all these ideas. After being quiet on collection of life time road tax from Non-Karnataka registered cars, the State government is again whipping those who have not paid. The cars and driving licences are being impounded. RTO (Road Transport officers) officers have become demi-gods telling people they should know the rules.Really?

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The Origins of the Superrich: The Billionaire Characteristics Database

February 19, 2016

Caroline Freund and Sarah Oliver have this interesting paper on superrich across world regions:

This working paper presents a new dataset on the sources of billionaire wealth and uses it to describe changes in extreme wealth in the United States, Europe, and other advanced countries. The data classify wealth as either self-made or inherited and identify the company and industry from which it comes. Among self-made billionaires, individuals are further classifi ed as company founders, executives, politically-connected, or in finance.

Data analysis shows that the superrich in the United States are more dynamic than in Europe. Just over half of European billionaires inherited their fortunes, as compared with one-third in the United States. The median age of a company of a European billionaire is nearly 20 years older than that of an American billionaire. Traditional sectors explain more than half of the rise in wealth in Europe; the financial sector and technology-related sectors together are largely responsible for the rise in US wealth.

There is some evidence that rents are higher in the United States than Europe, as not only is the number of US billionaires expanding rapidly, but US billionaires are also getting richer on average over time, especially when wealth is connected to resources, nontradables, or finance.

 

Pink tax: Why women pay higher prices for the “same” products

February 19, 2016

One has always wondered why women pay many times more for things like haircuts, shoes etc compared to men. Most women laugh off hearing the price of men haircuts saying it is too low to be true.

This higher pricing has been dubbed as pink tax. It is not really a tax imposed by govt but nevertheless a case of discriminatory pricing. See this list for the price differences between the two categories. It is startling indeed..

John Dotson discusses the issues and says there is nothing wrong with it. Let women figure and decide why they choose to pay more for their products.

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