Contact How can we reduce disparities in health? The Health Inequality Project uses big data to measure differences in life expectancy by income across areas and identify strategies to improve health outcomes for low-income Americans. To learn more, see this short video short videoour executive summaryor our paper in the Journal of the American Medical Association.
But achieving the latter required cooperating with the rest of OPEC, which, as in the s, wanted to cut production in order to raise prices. So the managers had to go. Inthe former paratrooper pushed through a new energy law that jacked up the royalties foreign oil firms would have to pay the government.
It also mandated that PDVSA would lead all new oil exploration and production; foreign firms could only hold minority stakes in whatever partnerships they struck with the national company.
Then, in April, he went on live television to humiliate and fire a handful of PDVSA managers, replacing them with political hacks. With them went most of the managerial expertise and technical know-how PDVSA had managed to preserve during the earlier purges. Even his own government soon realized the harm it had done.
Accidents and spills began to proliferate, and ina top energy ministry official admitted privately that it would take at least 15 years to rebuild the technical skills lost by the mass firings.
Another energy ministry official even asked U. And in the years since, the situation has only worsened. Conditions at the company and in the economy are now so bad that employees take home a pittance — just a handful of dollars a month — and face political pressure to support the regime.
Such treatment has led to the large-scale flight of skilled workers: According to Reuters, the exodus has grown so big that some PDVSA offices have begun refusing to let their workers resign. Using legally questionable methods, he started siphoning off billions of dollars in PDVSA revenue to pay for his social programs, including housing, education, clinics, and school lunches.
While this strategy may have paid off politically in the short term, it was extremely dangerous: Since oil fields gradually produce less oil over time as they get tapped out, countries constantly need to dig new wells and rejuvenate shrinking reservoirs with injections of water or gas. He raised royalty rates yet again and billed the companies for billions of dollars in bogus back taxes.
These provocations exasperated foreign executives; even officials from the China National Petroleum Corporation grumbled to U. ExxonMobil and Conoco threw in the towel and left.
A country that was once an exporter of agricultural products had to start importing lots of government-subsidized food — another common feature of the resource curse. Byfor example, PDVSA had been dragooned into producing and distributing milk; later, the firm began importing other basic foods, from cooking oil to rice and beans.
By this point, Venezuela had become nearly wholly dependent on oil revenues, which made up about 95 percent of its export earnings.
Cheaper oil tipped the economy into recession in and a full-blown crisis inwith GDP shrinking by almost 6 percent and inflation exploding. And because Venezuela had neglected to diversify its economy, the country was out of options.Jul 25, · Their analysis shows top-income households receiving tax cuts of % or larger compared to % for low-income households.
Unfortunately, the JCT’s analysis, like that of the Congressional Budget Office, other government agencies and . The Republican tax law passed last fall will give the richest 1 percent of Americans an average personal income tax break of about $33,, while the poorest Americans will receive an average.
The gap between the rich and the poor keeps widening, the Organisation for Economic Cooperation and Development (OECD) says. In its 34 member states, the richest 10% of the population earn times the income of the poorest 10%.
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Data Available for Download. State-by-State Data and ITEP Tax Inequality Index Map. EXECUTIVE SUMMARY.
Who Pays: A Distributional Analysis of the Tax Systems in All 50 States (the sixth edition of the report) is the only distributional analysis of tax systems in all 50 states and the District of attheheels.com comprehensive report assesses tax fairness by measuring effective state.
Richest Man in Babylon - The Success Secrets of the Ancients [George S. Clason, Richard Ferrone] on attheheels.com *FREE* shipping on qualifying offers. The Richest Man in Babylon by George Samuel Clason provides financial advice through a collection of parables.
George S Clason is best known for writing a series of informational pamphlets about being thrifty and how to achieve financial success. Feature How Venezuela Struck It Poor The tragic — and totally avoidable — self-destruction of one of the world’s richest oil economies.