Taxation of life-cycle savings Essay Example | Topics and Well Written Essays - 2000 words

Taxation of life-cycle savings - Essay Example Further, 25% lump sum can be withdrawn from pension funds tax free (Lymer & Oats, 2013). Due to these treatments, most of the savings in the UK are made in pensions, housings and ISAs. They discourage savings in all other forms and put limitations on economic activity. Further, the current tax laws are complex. According to the current system, neutrality can neither be achieved over time nor across assets. It discourages people from saving because the present value of their income increases. They become better off spending their income now than later. Also, this system does not take inflation into account. The returns on savings are taxed on nominal returns. Therefore, tax on returns on savings actually increases with a rise in inflation rate. Further, the phenomenon of compound interest reduces the effective rate of return and its reducing effect is directly proportional to the passage of time (Mirrlees et al., 2011). Adam Smith (1776) proposed four canons of taxation for an optimal tax system. These canons are: ‘Equity, Certainty, Convenience and efficiency’ (Lymer & Oats, 2013, p.43). Economic efficiency relates to fiscal neutrality which refers to an ideal tax condition which does not ‘distort the economic and commercial decisions made by individuals’ (Lymer & Oats, 2013, p61). The concept of neutrality demands that people’s choices should not be distorted. However, in standard income tax, neutrality is foregone both over time and across assets. The current system makes people prefer investing in pension funds and ISAs but discourages saving through other opportunities as it taxes them at a higher rate. Further, it actually subsidises investing in a pension fund as it allows a tax free withdrawal of a lump sum. This discourages people from taking risks and limits economic activity. It also defeats the prospects of achieving neutrality over time. This system treats capital gains differently

Business law Assignment Example | Topics and Well Written Essays - 750 words

Business law - Assignment Example Was there any due diligence conducted by the owners of the establishment to ensure that the walk way was safe for its customers. In personal injury cases, normally the lawyers get paid from a percentage of the amount won by the lawyer. The type of damages that the business would likely pay are the actual damages which would include the cost of hospitalization, the compensation the brain surgeon would have likely earned from the time he was injured up to the remaining years of his productive life, exemplary damages and moral damages. However, these types of cases will be paid for by the insurance and whatever money the business has. The liability of its partners would be limited to the investment that they have put in. The possible defences that can be raised are the following: Contributory negligence of the brain surgeon at his age he should not be walking much less traveling during a snow storm. The place where the brain surgeon was injured is not part of the property of the busines s. The accident was predicated from an act of god which is the snow storm, without the snow storm there would not have been any accident. Therefore the accident can be considered as an act of god and therefore cannot be blamed on anybody. Answer to Question 3 The alleged crime is punishable by 1 year or more due to the length of time and the amount involved. The crime is considered a felony due to the amount involved. There will be an indictment because embezzlement is considered a public crime. Yes, I would expect the grand jury at the state level to get involved. The grand jury will determine if a crime has been committed that would warrant a trial. After you have informed or complained to the police, the police will look for evidence that would prove the existence of a crime and possible suspects. As soon as a crime has been proven to exist a prosecutor will be assigned to your case. In order for a case to be filed in court, the prosecutor will present the case to the grand jury to get an indictment. The indictment would then be used to acquire a search warrant to search the personal laptop of the accountant. The only protection the accountant has is the presumption of innocence until he has been proven to be guilty. If there is strong evidence that links the accountant to the crime, search warrants can be issued to gain access to the laptop. No, the judge is conferred the sole power and authority to mete the appropriate penalty against the accountant. The jury is empowered to award damages only in libel cases. Question 3 The case would definitely be sexual harassment. Sexual harassment exists when a female employee is subjected to unwanted conduct by her superiors. Sexual harassment is a personal crime and if the victims felt that she is being victimized then she can file a complaint or an administrative case against her superiors for acts that violate her dignity. If the action of her superiors create a hostile environment that would intimidate or humilia te her and more importantly, if her superiors would make unwanted advances which are sexual in character intended to violate her dignity or create a hostile environment that would intimidate or humiliate her a formal complaint is warranted. Another case that maybe filed collectively by the women in the work place is sexual discrimination. A defence that comes to mind is to immediately fire the erring manager. A case against the manager

The Influence of Social Media on Organizations Essay - 16

The Influence of Social Media on Organizations - Essay Example Social media has significantly assisted in the marketing of most organization since there is wide access by many people in different parts of the world. The drawbacks can be handled in a way that they do not hinder certain media, first the organizations need to come up with techniques which ensure that sensitive information regarding the organization is not leaked through social media, the administrators should maintain interest and motivation. Â   Social media sites should be free, neutral and unbiased to any group of people. Most of the information that should be censured is any information that is unethical or attempts to ruin the organization reputation. Some of the information I would avoid making part of my social media strategy include, hate speech, racial discrimination, false information, or any other information that is not socially acceptable. Email and blogs are among the most useful social media sources to send communications to customers and stakeholders, different social media like Facebook accounts, twitter, and LinkedIn are more suitable for employees. This media source enables the organization to be accessible by many people from different parts of the world. The social media are extremely efficient since the stakeholders, management, and personnel can discuss a matter online. People can interact with the organization from all corners of the world. With time meetings in organizations may be organized through social media. Technology is changing exceptionally fast, and new ideas are born every day and night. There is a lot in the store since there are many developments in the field of information technology. Social media is going to take over as the most reliable mode of communication. The security features in the social media are going to be increased, and this will invite more people.

The 10 basic tasks of the strategy execution process Assignment

The 10 basic tasks of the strategy execution process - Assignment Example Furthermore, a well-staffed organization thrives well in its undertakings. The recruiting department is supposed to balance such that it is composed of skilled, semi- skilled and unskilled workers. The leadership of HCZ should ensure that they specify the role of each employee in executing the plans for the welfare of the children. Therefore, ones the staff is employed, he or she should work towards achieving the set goals of the organization. However, the element of age should also be taken care of while hiring new employees; however, it is need not to be a discriminating factor (Syrett 87). The priority should go to the energetic and committed employees. In the staff organization, there should be specialization and division of labor. So that one can specialized where he or she is well conversant. Moreover, it will reduce boredom in the work of which will be for the benefit of the children. A strong leadership to HCZ will provide the sense of vision and direction so as to ensure the progress of the development of HCZ. Professional certification is important to the leaders of HCZ to equip them with the skills for the formulation of the strategy and their implementation. The leaders of HZC should not only give the sense of direction, but they should also have the children at heart. With such spirit, they can go an extra mile for the benefit of the vulnerable children instead of serving their interest. The leadership of HZC should embrace dialog and democratic leadership. The sharing of the ideas is important to the organization because leaders cannot learn alone, but they should also respect the opinions of those who work under them. The execution of the plans can never be possible without resources. The resources can be human resources and capital resources. The capital resources help in the daily running of the welfares of the organization. All the departments in HCZ should get funds to facilitate the

How effective have The European institutions been in dealing with the Dissertation

How effective have The European institutions been in dealing with the economic crisis - Dissertation Example It goes without saying that the game has evolved a fair bit over the past couple of centuries. While profits and returns will of course remain as the deciding factor when it comes to success, there are other factors that will also make a difference when it comes to the final result. Indeed, to succeed in today's economy requires one to have comprehensive understanding and mastery of business systems, marketing strategies, resource management and goal setting. And from there, both macro- and micromanagement skills are required in order to achieve the best possible results. Such may seem simple and easy enough at first. However, when considers how all these concepts are influenced by the various factors that affect the economy and the market itself, the truth of its complexity can easily be seen. Given how either economy or market conditions can change at the drop of a hat, the burden falls on the organization itself, as well as those running it, to make the necessary adjustments in re sponse. First and foremost, one needs to know the rules of the game in order to understand what his objectives ought to be, so that he might then strive toward them. Of course, it should also be noted that some ways of doing so are smarter and more effective than others, which explains the need to have effective marketing strategies. Different strategies have varying viability in various situations, and so one needs to consider this and then plan accordingly. One also needs to be able to be aware of his limitations with respect to resources, and thus keep those in mind as he does what he needs to do to succeed. And finally, just as one's strategies need to be viable and practical, so too must goals be set in a manner that is practical and realistic. Aiming high is always a good thing, but aiming far too high is not - in fact, it may even end up backfiring. At a glance, one can already guess at the complex and many-layered nature of the economy, but understanding the underlying struc tures reveal that even the word 'complex' hardly begins to describe it. The global economy in this day and age is such that neither capital nor technical knowledge alone will guarantee one's survival, especially in an increasingly competitive corporate environment. Most companies choose to deal with this by making sure to hire only the most competent and skilled employees. This is actually a valid strategy, and a rather effective one at that, considering that it is the company's employees who happen to be its single greatest untapped resource, and its biggest weapon in the fight to attain competitive advantage. Managerial staff also qualify to a lesser extent, if only because even their most brilliant strategies, schemes and plans will hardly bear any fruit without a competent workforce to put them into action. Conversely, even the most skilled employees will be limited in terms of their capabilities if their managers and supervisors leave much to be desired by way of competence. Ne edless to say, a company that has a competent workforce in addition to competent managerial staff stands the greatest chance of attaining competitive advantage. As has been stated, it is a perfectly legitimate and effective strategy for a company to keep an eye out for the most talented individuals to be recruited into their ranks to

Products of Native American Culture Essay Example | Topics and Well Written Essays - 2000 words

Products of Native American Culture - Essay Example The text which is used as a product of Native American culture is one which shows a different identity that belongs to America and which once was the main association with the United States, as opposed to the changes which occurred after the land was conquered by the American government. Text as a Product of Native American Culture The text that is a part of culture and history is first defined as a product of Native American culture. The different types of text are able to describe the culture, history, family and the lifestyle that was a part of a given time frame. This traced the history of the Native Americans back into the ancient ways of living while showing how the dominant culture in America was lost through the war. The defining of these elements make the text as a main product of Native American culture, specifically because it is able to define and describe different parts of the culture as well as provide examples that have caused the religious, ceremonial, cultural and h istorical aspects to be engrained with those who are a part of the Native American tradition. When reading the text, there is the ability to understand the entire society. The intertwining of traditions, ranging from the societal hierarchy to the concepts of religion are in each of the text, making it all a significant basis to understanding the history, beliefs and lifestyles of Native Americans. An example of the text as a part of Native American culture is defined with â€Å"Black Elk Speaks.† This particular text is important in defining the ceremonies and cultures of the Sioux while combining this with the historical events taking place when America began to attack the Native Americans. Descriptions such as The Dog Vision, Heyoka Ceremony and the Powers of the Bison and Elk are able to describe elements of the culture and how this related to the changes in America from the past of Native Americans. â€Å"Under the tree that never bloomed I stood and cried because it had withered away. With tears on my face I asked the Great Spirit to give it life and leaves and singing birds, as in my vision† (Neihardt, 193). This is one of several examples that show the intertwining of cultures in the text. The product comes from the connection to nature, prayers that are a part of the practice of Native Americans, and as read through the â€Å"Great Spirit† and which associates with the context of the time. The particular culture is also defined as the narrator is describing the attacks of the Native Americans and how the family is lost because of the American attacks, showing how the culture known is lost because of the historical events taking place at the time. Another representation which shows the text as the Native American culture is through â€Å"Ceremony† by Leslie Silko. Similar to â€Å"Black Elk Speaks,† this book is able to combine the elements of the Native American culture with religion, ceremony and the beliefs that are upheld through generations. However, there is also an understanding of how this has changed because of the divisions which occurred in America over time. â€Å"An old sensitivity had descended in her, surviving thousands of years from the oldest times, when the people shared a single clan name and they told each other who they were†¦

Chocolate liquor Essay Example for Free

Chocolate liquor Essay Chocolate is a confection made from cacao beans, the seeds of the cacao plant. There are a large number of products made from it on the market, from powdered cocoa for making drinks to white chocolate, and most markets carry a cross-section of confections for their customers. In addition to being available at general markets and grocery stores, chocolate can also be purchased from specialty companies which make luxury and distinctive confections. Making chocolate is a time consuming process. Cacao plants are grown on plantations in South America, where the plant is native, and in parts of Africa. There are actually several varieties of cacao plant, all of which produce chocolates with slightly different flavors, and the flavor is also impacted by where the plant it grown, how it is handled after harvest, and how it is processed. Companies invest a great deal of money in developing ideal blends of cacao beans to create the flavors their consumers are used to. Cacao beans grow in large pods which are harvested once they ripen and then allowed to ferment. Initially, the cacao beans are extremely bitter; the fermentation process softens the bitterness, allowing producers to move on the next steps, roasting and hulling. Roasting helps to develop the flavor of the beans, while shelling exposes the cacao nibs, the portion of the bean which has all the flavor. Once cacao nibs are extracted, they must be ground into a substance known as chocolate liquor. This liquor isnt something youd want to eat: it is extremely fatty, thanks to the cocoa butter it contains, and it is gritty and bitter. This liquid is then pressed to create what is known as press cake, a substance consisting primarily of cocoa solids, while the cocoa butter is allowed to drain away. Once press cake has been created, producers have a number of options. To make cocoa, they can squeeze the press cake even more to isolate the cocoa solids before allowing it to dry and then pulverizing it. They can also blend some of the cocoa butter back in, along with sugar and other ingredients, to produce eating chocolate, which is subjected to a process called conching to create a smooth, creamy confection without any traces of grittiness. Eating varieties can also be adulterated with milk, creating milk chocolate, and the level of sweetness can vary widely. For white chocolate, cocoa butter is mixed with vanilla and milk. The history of chocolate is almost as interesting as the confection itself. In its native South America, it was prepared in drinks reserved for royalty and high ranking members of society. When European explorers visited, they were introduced to chocolate, and upon bringing the food back to Europe, it became a big hit. Eventually, Europeans started experimenting, adding sugar and other ingredients and ultimately developing a process which would allow them to make bars in addition to drinks. With the development of bar chocolate, confectioners realized that it had a wide range of possibilities, from candy bar coating to truffles, and the once rare luxury turned into an extremely profitable global industry.