Documentary for Weekend

Hello;

Today I am done with my mid terms. That is so much relief when you are taking three hard classes. This weekend, I wanted to treat myself with some movies.

I found, "Inside job". I am amazed by this movie. I would recommend this movie to everyone.

I watched it online, (LINK) and learned a lot about 2008 crisis.  It is like looking at both sides of coin.

I was so relaxed, after my test. I hoped into my bed and watched the movie. The fact that it has been pouring down the whole day helped a lot. 

:) 

Book Review

Hello,

I read the book "Game Theory in International Economics" by John McMillian. That book is not for me yet.

I read the introduction paragraph but I am still not aquatinted with the math part. I am still taking calculus and I was not able to comprehend most of it. So from next time, I will not chose a book by its cover.

I am so busy with mid terms (not complaining). However, I am now reading "The winner stands alone" by Paulo Coelho. I know it is not related to economics but I felt like I needed a break. I will also post a review about the book after I am done reading that.

(Photo credit: google image) 

What is your favorite book? The best book I have read so far is "A thousand splendid suns"

:) 

50th Post

Hello,

This is my 50th post and I realized I am an irregular writer.

Today I was thinking to write about time management, cause I have been struggling with it. Sometimes seems like I slip things out. Today I missed my french class as I woke up 5 minutes earlier than class.  (I will stop here, I did not create this blog for venting)

Now I have started to read "Game Theory in International Economics" by John McMillian. This book seemed a little advance for me, as there is lots of equations and maths. But at least I can read the first two chapters, "Strategy and trade" and "Basic Concepts of game theory".

I have not finished Thomas Piketty's book but thats' a whole different story. However, this years Nobel prize in economics was given to Jean Triole for his  "analysis of market power and regulation."  I will write more about him in my future posts.


Again, working very hard to manage time.

Photo credit: Kalibizzen.com 

:) 

Income tax

Hello,

I can't believe I have not posted anything on October. I was all caught up with school. Now,  I am back with some real economics talk.

Income tax, is the money collected by the government from an individual or a company on their income or profits. The government takes certain percent of the income earned and uses it for its work.

Different countries have different income tax rates. Belgium being the country with highest rate of income tax and USA being the least.

While US states have different rule. Washington State does not have an income tax while it has sales tax. I have to pay tax to the government for each item I but and not for my the amount of income I earn, while the states like New York, California have income tax.  (Lucky, my pay cheque does not get reduced :P )

What does the government do with those income tax?

The answer depends on the country but US uses 25.19% on health care, 24.79% on National defense. That was according to my income tax, but you can check your own by going through this Website. I played with it for a while inserting different amount.

(Photo Credit; World Monopoly)