Tax cuts on income (tax rebates) introduced in 2001 and 2003 by the Bush
Administration will expire on December 31, 2010 and the Obama Administration intends
not to extend to people earning more than $ 200,000 a year and couples earning more
than $ 250,000. This group accounts for 2% of American taxpayers. The tax increase

includes increasing the tax rate of income tax for these taxpayers from 36% to 39.6%,
higher taxes on dividends and capital gains from 15% to 20% and, lastly, stamp duty
sequences re-introduced, reaching the rate of 45% for those who receive an inheritance of
over $ 3.5 million. The objective is to finance the revenue increasing new fiscal stimulus
plans and reduce some of the deficit. There are a number of theoretical and empirical
economic literature that shows that increasing the marginal rates of income tax for higher
income taxpayers can bring down consumption, reduced labor supply and even a leaking
capital, which could produce a net loss of tax revenue. The controversy in the U.S. is
served.

• Newspapers – One of the traditional and cheap ways of advertising can be done through newspapers. This is the good way to cover a wide number of people of your locality.
• Word of Mouth – You can spread about your business by conveying it to your friends who in turn will convey it to their friends and relatives and so on. This is the easiest and cost nil way of advertising with respect to small businesses.
• Temporary marketers – You can look for some temporary marketers like college students who are willing to work part time at a low income. They will deliver circulars, leaflets and paste stickers.
• Website and Email – The latest trend that has made a wide impact in the field of advertising is advertising through online. As internet users are increasing day by day, this way of advertising has delivered good result for business firms.
• Social Networking – The trend that is spreading among business firms especially small business firms is advertising their business through social networking websites like facebook, twitter, etc.

President of the Federal Reserve Bank of Dallas, Richard Fisher said on Monday that
he opposed the central bank’s recent decision to acquire up to 600,000 million dollars
in bonds in the coming months. During a speech in San Antonio, Texas, Fisher said the
strategy known as “quantitative easing” (Quantitative Easing) hurts savers, raises the
prices of raw materials, increased financial speculation and could be very costly if rates
rapidly rising interest. The chairman of the Federal Reserve (Fed), Ben Bernanke, has
said the policy approved last week by the Federal Open Market Committee’s central
bank, will help keep interest rates low and provide long-term credit for consumer
businesses to invest and thus consume activating the economy. Fisher said he would
have more confidence in the Fed’s strategy if Congress and the White House to agree on
specific measures to reduce the huge U.S. debt and address the federal budget deficit.
According to Fisher, there are few employers willing to invest in the U.S. due to its tax
and regulatory policies, so they take their business to other countries. The actions of the
reserve, said Fisher, could reduce these adverse factors if lawmakers approve prudent
fiscal policies. “The cure for the disease gets our economy in the hands of prosecutors
and regulatory authorities, not the Fed,” said Fisher.

A commission appointed by U.S. President Barack Obama on November 10th proposed
increasing the retirement age, big spending cuts and tax reform to reduce the deficit over
four billion dollars the next decade. The panel sought to reduce defense spending and
social protection programs in the country as well as changes in the complex U.S. tax
system. In addition, the draft presented suggests raising the retirement age to 68 years
by 2050 and 69 for 2075. The proposal states that fully implemented, the shortfall would
be about 2.2 percent of gross domestic product (GDP) for 2015, a figure better than that
pursued by the White House wants to cut the deficit to three percent of GDP. The budget
deficit amounted to 8.9 percent of GDP in the fiscal year ended Sept. 30.The Treasury
Department said today that the deficit in October, the first month of fiscal 2011, was
located in the 140 400 million. U.S. is expected to end fiscal 2011 with a deficit of over
a trillion dollars for the third consecutive year. The panel needs to have its final report
ready for the next first of December. The committee is chaired by Erskine Bowles, chief
of staff under President Bill Clinton (1993-2001) and Alan Simpson, former Republican
senator from Wyoming and consists of a total of 18 members.

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