I know in the US, if we taxed 100% of all US billionaire wealth, dropping their and their companies’ productivity to zero, you could fund the federal government for only like 7 months. You’d squander tons of production for comparatively little gain. The problem isn’t that we don’t tax the rich enough, the problem is that we waste money left and right.
BRUSSELS, Oct 24 (Reuters) - The European Union’s executive is set to present on Nov.8 an assessment of progress made by Ukraine in its membership bid, three officials said, a key stepping stone in the bloc’s decision on whether to start accession talks with Kyiv.
The assessment will come in an annual report by the European Commission in Brussles detailing how far countries looking to join the 27-nation bloc have advanced in meeting the necessary economic, legal and other criteria.
A decision is then expected during a Dec.14-15 summit of EU leaders on whether to launch formal membership negotiations with Ukraine, a top priority for Kyiv as it fights the Russian invasion.
A related Oct.9 as sessment by the Venice Commission - an advisory body to the Council of Europe, a European rights watchdog with 46 member countries including EU states - said the latest amendments to Ukraine’s law on national minorities were an improvement but more needed to be done.
On Georgia, “the jury is still out” on whether it would receive formal candidate status, the official said, something Kyiv won in June last year, shortly after Russia’s invasion began.
Budget decisions also require unanimity in the bloc and some member countries have asked to also raise spending on tackling natural disasters like wildfires and floods, sources said.
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The findings, from an October survey of almost 5,000 people, put Russia’s economic woes in sharp focus and could give the authorities a headache in the run-up to March’s presidential election, in which President Vladimir Putin is likely to extend his more than two decades in power.
Record-low unemployment this year is evidence of Russia’s stark labour shortages, while the rouble’s weakness has added to intense inflation pressure.
Interest rates, already at 13%, are expected to rise further to tackle inflation seen ending the year at around 7%, well above the Bank of Russia’s 4% target.
Asked whether their salary was enough to cover basic spending, without taking into account income from second jobs or investments, just one in five Russians surveyed said yes.
The average monthly nominal wage earned by Russians was 71,419 roubles ($756) in July, Rosstat’s statistics show.
Russia could miss its 2024 budget revenue target and be forced to hike business taxes if the rouble proves stronger than expected and optimistic economic assumptions fall short, analysts say.
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Because in Europe everything is fine, isn’t it? With the new war inflation is skyrocketing and a new interest raise is around the corner. Thank you EU.
I’m also interested in this. In fact all of this could be my fault, so I just want to check. The one thing we can be sure of is that it’s not the Russian war that’s causing any problems anywhere, right? Maybe it’s the phase of the moon, or astrology
Inflation rate of the EU is at its lowest since October 2021.
Meanwhile the conversation rate is 99 Ruble for 1€.
So yes, thank you. We're actually doing pretty alright. But I'm sure your propaganda media tells you something very different.
Well. If you think the grass is greener on Russia's side, then go on and move over.
I also like how you avoided the other persons question of how that's the EU's fault for Russia to play imperialistic asshole.
Very tolerant… shouldn’t we “on the other side” be more democratic? I wish I could move over as you suggested, unfortunately the only option will be passing away because I’m stuck here. I can’t even get a passport because in my country public offices have stopped working.
lmao
What in the absolute fuck does this have anything to do with being democratic? Are you just throwing buzzwords around now? Seriously, just move to Russia and get shredded on the front. It would do us all a favor.
You are assuming that inflation will stop, but after the new war oil and gas prices (so energy prices, and therefore the price of any retail good) are increasing dramatically. Another cycle of the depressive spiral is coming for Europe… the only positive aspect I can think of is that this part of the world is responsible for the misery and poverty of other areas of the world (say Africa) so in the end this will be a sort of very much due nemesis. But from here to saying that “everything is going to be alright” sounds like gaslighting.
I wouldn’t be surprised if the EU stands to gain money from this conflict
I think we, as Europeans, missed a chance to help those in need and to stand for the weakest and most defenseless. And I would not be surprised to witness how neighbouring foreign cultures hate us.
Hungary is suffering from their own pro Russia policy making & voting, which they're still holding onto. So apologies when I can't bring up a whole lot of sympathies for them and the repercussions they're facing from that. Germany is also not doing the greatest, and for similar reasons, at least in the energy sector. But at least now most parties sans the far left and far right have understood that.
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Click here to see the summaryThe findings, from an October survey of almost 5,000 people, put Russia’s economic woes in sharp focus and could give the authorities a headache in the run-up to March’s presidential election, in which President Vladimir Putin is likely to extend his more than two decades in power. Record-low unemployment this year is evidence of Russia’s stark labour shortages, while the rouble’s weakness has added to intense inflation pressure. Interest rates, already at 13%, are expected to rise further to tackle inflation seen ending the year at around 7%, well above the Bank of Russia’s 4% target. Asked whether their salary was enough to cover basic spending, without taking into account income from second jobs or investments, just one in five Russians surveyed said yes. The average monthly nominal wage earned by Russians was 71,419 roubles ($756) in July, Rosstat’s statistics show. Russia could miss its 2024 budget revenue target and be forced to hike business taxes if the rouble proves stronger than expected and optimistic economic assumptions fall short, analysts say. — Saved 54% of original text.
In its annual World Energy Outlook released on Tuesday, the IEA said peaks in oil, natural gas and coal demand were visible this decade in its scenario based on governments’ current policies - the first time this has happened.
Still, the IEA also said as things stand, demand for fossil fuels is set to remain far too high to keep within reach the Paris Agreement goal of limiting the rise in average global temperatures to 1.5 degrees Celsius.
“This risks not only worsening climate impacts after a year of record-breaking heat, but also undermining the security of the energy system, which was built for a cooler world with less extreme weather events,” the agency said in a statement.
By 2030, the IEA expects there to be almost 10 times as many electric cars on the road worldwide, and it cited policies supporting clean energy in key markets as weighing on future fossil fuel demand.
For example, the IEA now expects 50% of new U.S. car registrations will be electric in 2030, up from 12% in its outlook two years ago, largely as a result of the U.S. Inflation Reduction Act.
An OPEC report earlier this month said calls to stop investments in new oil projects were “misguided” and “could lead to energy and economic chaos.”
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LONDON, Oct 23 (Reuters) - Companies including Nestle (NESN.S), Unilever (ULVR.L), Mahindra Group and Volvo Cars are urging political leaders to agree a timeline at the upcoming U.N. climate summit to phase out fossil fuels.
The 131 companies, which have nearly $1 trillion in global annual revenues, wrote in a letter published on Monday that attendees at the COP28 summit must commit to reach 100% decarbonised power systems by 2035 for richer economies, and help developing countries financially so they can ditch fossil fuels by 2040 at the latest.
“Our businesses are feeling the impacts and cost of increasing extreme weather events resulting from climate change,” the companies wrote in the letter, which was coordinated by the non-profit We Mean Business Coalition, which is pushing for greater climate action globally.
COP28 begins in Dubai on Nov. 30 against a backdrop of more scientists warning that the world is not on course to avoid the worst impacts of climate change by meeting the goals of the 2015 Paris accord, which committed countries to limit global temperature rises to 1.5 degrees Celsius (34.7°F) from pre-industrial levels.
The speed at which countries should phase out fossil fuels will be one of the thorniest issues.
Calls from Europe and elsewhere to stop burning CO2-emitting fuels will run into the arguments of the world’s biggest fossil fuel producers, consumers, as well as poorer nations that say they cannot cut CO2 emissions fast enough without significantly more financial support from wealthy nations.
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Better it goes into government so at least people can vote to change it. If billionaires hold it they will just use it to influence the government and hoard wealth.
Better it goes into government so at least people can vote to change it.
We can't change it. Politicians would still have their monopolical powers because they help each other. Don't trust the government. Billionaires not only influence it, they also receive help from them.
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