A lot of discussion has arisen lately over the potential expiration of the tax cuts pushed out during George W Bush’s presidency. These cuts gave extensive tax incentives for the upper class, allowing them to save millions of dollars. As the tax cuts are set to expire at the end of 2010, Congress is in heavy debate over whether to let them expire or to extend the cuts. Unfortunately, extending these cuts can be very dangerous.
The notion of the Bush tax cuts was the idea of trickle down economics. By giving the wealthy bigger chunks of their income, the government believed they would give them more capital to launch businesses. These investments would then spur the creation of new jobs, helping the economy grow. In a country that prides the small businesses, this is a big benefit as more wealthy means more business creation.
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Japan, one of the few developed nations in Asia and the world’s second largest economy is considered a liberal democracy with a constitutional monarchy type of government and citizens maintain all their civil rights.
It is run under a one-party rule, the Liberal Democratic Party (LDP). No real challenge to the LDP was able to sustain itself despite the decrease in its popularity since the economic inactivity in l990s and corruption scandals.
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1960s A Pro-Soviet Tyranny
1959-1960: Following Fidel Castro’s overthrow of the dictatorial Batista administration, a host of people, including children and women, welcomed the arrival of guerrillas, but they turned the Island — about the size of Tennessee– into a place of repression. On the other side, Raúl Castro had been hand-picked by his brother, Fidel Alejandro Castro Ruz, as the second leader of the Cuban Revolution. In the meantime, in the early years of the new regime, up to 3,200 Cubans had been slaughtered by Fidel Castro and his family. On the economic side, Castro nationalized all U.S. businesses (without compensation). In fact, these events marked the beginning of one the world’s worst undemocratic governments. Toward the end of 1960, Washington imposed an embargo on Cuba.
1960-1980: As a consequence of the totalitarian policies, over one million Cubans had fled to America (chiefly Florida), Canada, Mexico, Venezuela, Spain and Italy.
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