- •Isbn 978-5-7487-1437-2 ббк 81.2Англ.Я7
- •Методическая записка
- •Rendering a Scientific Paper
- •Discussing an Article Starting the Сonversation
- •Discussing the Contents
- •Making things clear
- •Impressions
- •Bioinformatics
- •Biological engineering
- •Bioprocess technology
- •Biotechnology - solution or problem?
- •Branches of biotecnology
- •Cell factories
- •Divisions of biotechnology
- •Elements
- •Genetic engineering technology
- •Modern biotechnology
- •Overview and brief history of biotechnology
- •The definition of biotechnology
- •What is biotechnology?
- •What is the biotech project?
- •Pharmaceutical products
- •Reduced dependence on fertilizers, pesticides and other agrochemicals
- •Vitamin
- •Chemical industry
- •Dyes are now classified according to how they are used in the dyeing process
- •Food industry
- •Aspirin
- •Glucose
- •Citric acid
- •Metamizole sodium
- •Ratiopharm
- •Sanofi-aventis
- •Novartis international ag
- •Menarini
- •Merck serono
- •Факультет высшего сестринского образования definition and aims of nursing
- •Documentation of the nursing process
- •From the history of nursing in the usa
- •Nursing care plan
- •Nursing care plan
- •Nursing education in russia
- •Nursing education in the united states
- •Nursing process: four major steps
- •Nursing theory
- •Pain management: non-pharmacological nursing interventions
- •Pressure sores: definition, etiology, prevention and treatment
- •Professional nurses associations
- •Qualities of the caring helper
- •The mission of nursing. Major functions of the nurse
- •Факультет клинической психологии cognitive-behavior therapy
- •Emotion
- •Classification
- •Theories of emotions
- •Neurobiological theories
- •Psychotherapy
- •Emphasizing stress
- •Progressive relaxation
- •Факультет медико-профилактического дела air pollution and health problems
- •Bubonic plaque
- •Classifying water pollution
- •Malaria in russia
- •Ecological problems nowadays
- •Hygiene promotion
- •Keeping fit
- •Pollution control
- •Protect yourself from foodborne illness
- •Russia major infectious diseases
- •Russia water quality
- •Smoking
- •The effects of acid rain
- •Water supply systems
- •World health organization
- •Лечебный и педиатрический факультеты
- •Раздел 1. Учеба на педиатрическом факультете. Педиатрия – моя будущая специальность. Личностные и профессиональные качества детского врача
- •I study at the pediatric faculty
- •The kursk state medical university
- •Becoming a pediatrician
- •Раздел 2. Из истории педиатрии. Современные проблемы педиатрии overview of pediatrics
- •Scope and history of pediatrics
- •Pediatrics
- •Growth of specialization
- •Pediatrics as a science
- •Doctor spock
- •Раздел 3. Рост и развитие ребенка. Педиатрическое обследование и лечение. Общение с больным ребенком
- •Unique character of the pediatric clinical evaluation
- •Guidelines for evaluation
- •Some notions of therapeutics
- •Talking with children
- •Chronic illness in childhood
- •Hospital of the future
- •Факультет социальной работы aspects of social service in russia
- •Clinical social work
- •Definitions
- •Epidemiology
- •Rehabilitation process
- •Rehabilitation team
- •Rehabilitation social worker
- •Personnel needs
- •Developmental stages: psychosocial implications
- •Discharge planning
- •Quality assurance and program evaluation
- •Future implications
- •System of social service of the population
- •The poverty problem
- •Eighty is the new fifty
- •Children of the quake: single kids and orphans
- •Suffer, the children
- •A case of euro envy
- •Dinner for eight
- •Not yet on the medal stand
- •Working with children and their parents
- •Стоматологический факультет temporomandibular joints
- •Signs and symptoms
- •Bruxism
- •Biofeedback
- •Dietary supplements
- •Dental surgery
- •Electric toothbrush
- •Visual Stimuli
- •Orthodontic headgear
- •Pedodontics
- •Early toothpastes
- •Tooth powder
- •Dentistry in the united kingdom
- •Лечебный факультет и факультет экономики и управления здравоохранением activities of who
- •Management is art or science?
- •Evolution of marketing
- •Health and safety advice for russia Health Advice & Necessary Vaccinations.
- •Health system
- •International marketing
- •Culture
- •Political and legal factors
- •Level of economic development
- •Medicine, public health and human rights in russian federation
- •Organizational orientation
- •Principles of the management
- •Recruitment
- •Practical application: Designing a curriculum vitae or resume
- •An example of Curriculum Vitae
- •4 Skills
- •5 Activities
- •6 References
- •The letter of application
- •Russian health system
- •Содержание
- •305041, Г. Курск, ул. К. Маркса, 3.
- •305041, Г. Курск, ул. К. Маркса, 3.
A case of euro envy
The root cause of Corporate America's disingenuous drive to cut its taxes.
Jul 30, 2007
Today's politico-financial elite seem genuinely confused about the imminent threat posed by Europe. Either Europe is a Socialist redoubt where invasive government, high taxes and the quaint insistence on maintaining a social welfare safety net deter innovation, entrepreneurship and growth—a state of affairs Americans must avoid like the plague. Or perhaps it's a capitalist haven that is kicking the tar out of the United States with its low corporate tax rates and gentle securities regulation—policies the United States should emulate.
Last week, Glenn Hubbard, dean of Columbia Business School (and quite possibly the only Republican on the Upper West Side), penned a brief for lower corporate tax rates in the Wall Street Journal (purchase required). Hubbard, a former Bush economic adviser, noted that nations around the world are competing for capital in part by reducing tax rates, singling out Germany and Great Britain. The article concluded with a (surprise!) plea to reduce American corporate taxes. Hubbard's essay was a curtain-raiser for a meeting convened by Treasury Secretary Henry Paulson on corporate taxation. A background paper lamented that the United States' combined statutory federal and state corporate income tax rate is the second highest in the Organization for Economic Cooperation and Development. The paper warned darkly that Germany "is expected to reduce its total tax rate from 38 percent to 30 percent in 2008," and that lefty havens such as France, Italy, Spain and Sweden all have lower statutory corporate tax rates than the United States. Set aside for the moment the fact that, thanks to endless clever tax shelters, virtually no corporation pays the statutory rate. The obvious solution? Cut corporate tax rates in the United States.
The Euro-envy meme continued in today's Wall Street Journal, with an op-ed (purchase required) by Phil Kerpen of the American Enterprise Institute, arguing for a reduction in the corporate capital gains tax. "France and Germany, traditional bastions of big government, exclude 95 percent of corporate capital gains from taxation," Kerpen noted with approval.
Meanwhile, investment bankers, accountants and executives of American stock exchanges complain that the rules-based regulatory and accounting regime enforced by the Securities and Exchange Commission is causing the United States to lose ground to London, the re-emerging financial center whose regulatory authority, the Financial Services Authority, favors a more lenient, principles-based approach.
And yet many of these same capitalists who tout the glories of low European corporate taxes regard Europe as a bugbear, on a par with labor unions, journalists and Michael Moore. Mitt Romney, the presidential candidate with the most financial experience and an advocate of lower corporate taxes, routinely uses Europe as an epithet. At a luncheon last week, the CEO of one of New York's top financial firms, which recently made a major acquisition in Europe, nearly spit out his endive salad when a colleague, long resident in London, revealed that she had given birth to two healthy children at National Health Service hospitals. After all, it's an article of faith among the American executive-ariat that the British national health system—and, by implication, any national health system—is a disaster not fit for yuppies.
As much as they envy the corporate tax regime, the op-ed-ists who lust after Europe's corporate tax regime loathe the continent's personal tax regime, which relies on income taxes and hefty consumption taxes to fund universal retirement, health care and social welfare benefits. And that's what makes this selective European benchmarking so hypocritical. Europe is able to maintain lower corporate tax rates in part because it levies high taxes on the wages and consumption of all its citizens. (OECD data show that in 2006, the average "tax wedge"—including employer contributions for entitlements like Social Security and Medicare—was 28.9 percent for the United States, compared with 52.5 percent for Germany and 50.2 percent for France.) Germany may be poised to slash its corporate income tax, but it just raised its value added tax, from a high 16 percent to a stratospheric 19 percent.