In 1997, then Senator William Roth (R-Del) wanted to restore the traditional IRA which had been repealed in 1986, and the upfront tax deduction that goes with it. Under congressional budget rules, which work within a 10-year window, the revenue cost of giving that tax break to everyone was too high. So his staff limited deductible IRAs to people with very low income, and made Roth IRAs ( initially with income limitations) available to others. That slid the revenue cost outside the 10-year window and got the
As the resources that have been so crucial to survival in the world to this day start declining in numbers, countries will begin to realize that the need for renewable fuel sources will be as vital as ever. With the production of new types of energy, including solar, geothermal, hydro-electric, biofuel, and wind power. With the amount of solar energy that hits the world in one hour there is enough energy to power the world for one year. With the addition of solar panels all around the world a little less pr
Within oil importers, nations that are high inflation (primarily emerging nations) are likely to benefit from falling import prices, which put downward pressure on both core and headline inflation. On the other hand, persistently falling oil prices do not bode well for nations that are battling deflationary pressures (primarily advanced nations). Major advanced nations, such as Japan, the United States, and those in Europe, have implemented unconventional monetary policies, and falling oil prices may compli
Price instability intensifies economic uncertainty, and this impact is generally more pronounced in nations highly dependent on oil exports. The tight demand-supply balance for oil (discussed in the previous section) along with external shocks, such as political and policy shifts in the United States and Europe, may result in sustained pressure on oil price stability.
The mistreatment of Asians was also common in Hawaii, a site of major immigration from China, Japan, Korea and the Philippines. Although Hawaii was not an official territory of the United States until the passage of the Hawaii Organic Act in 1900, American sugar companies established large plantations over much of the country around the middle of the 19th Century, turning Hawaii into something of an economic colony of the United States. Between 1850 and 1920, over 300,000 Asians immigrated to Hawaii, eventu