Welcome to the weekly roundup of great articles, facts and figures. These are the weekly finds that made our eyes pop.
Unemployment Increases Death
For those who try to dismiss people as human resources, numbers on a spreadsheet, think again. Lose just one job and your rate of dying prematurely increases 63%. From Job Loss May Increase Premature Death:
The researchers, who analyzed 42 studies with data on 20 million people regarding the relationship between unemployment and the risk of death, also found that the increased risk was greater for men (78 percent) than for women (37 percent). The overall study results reveal that the relationship between unemployment and mortality risk has remained constant for the past 50 years.
Tax Rates Since 1916
Credit WriteDowns reviews the top tax rates since 1916 in the United States and references the below Michael Hudson interview explaining how the U.S. income tax came about.
9 Things Rich People Don't Want You to Know about Taxes
David Cay Johnston exposes the 9 things rich people don't want you to know about taxes:
As millions of Americans prepare to file their annual taxes, they do so in an environment of media-perpetuated tax myths. Here are a few points about taxes and the economy that you may not know, to consider as you prepare to file your taxes.
Guess what is #1 on Johnston's list? Yes Virginia, poor people do pay taxes.
A new book, Treasure Islands: Uncovering the Damage of Offshore Banking and Tax Havens., exposes offshore accounts and tax havens. Video is available from Democracy Now.
As millions of Americans prepare to file their income taxes ahead of Monday’s deadline, we look at how corporations and the wealthy use offshore banks and tax havens to avoid paying taxes and other governmental regulations. "Tax havens have grown so fast in the era of globalization, since the 1970s, that they are now right at the heart of the global economy and are absolutely huge," says our guest, British journalist Nicholas Shaxson. "There are anywhere between $10 and $20 trillion sitting offshore at the moment. Half of world trade is processed in one way or another through tax havens." Shaxson is the author of the new book, Treasure Islands: Uncovering the Damage of Offshore Banking and Tax Havens. [includes rush transcript]
More Flawed Analysis on Trade
Public Citizen goes into detail on how the USDA analyzes trade agreements with faulty models. Nice huh, when even the models are corrupt.
Unfortunately, the USDA estimated the effects through a computable general equilibrium (CGE) model, which has a shoddy track record, to say the least. A 1999 U.S. International Trade Commission (USITC) study on the likely effects of China’s tariff offer for WTO accession used a CGE model to estimate that the U.S. trade deficit with China would increase by only $1 billion dollars due to China’s accession. In reality, the trade deficit with China skyrocketed by $167 billion between 2001 and 2008.