Sunday, August 25, 2013

As a percentage of income, how much money should the government be able to take from you in taxes?

I can't think of any economic-relate topic now so today I searched on Google for some economic journal topics. There is one interesting topic: as a percentage of income, how much money should the government be able to take from you in taxes? (from: http://712educators.about.com/od/Journal-Writing/a/Economics-Journal-Topics.htm)

Taxes are one of the government revenue sources. As a taxpayer, I really want to answer this question be the answer "0%". But, realistically, if we don't pay taxes then the country can't function. So, the alternative answer would be: "5%". Some people might argue that this is not enough, the portion is too little, or the government still can't function.Yet, the government can invest the money and make it into a larger amount (yayyyy!......though I am not sure if the government can do that).

Thursday, August 15, 2013

Saving Money

Recently I want to save money.

I save money not for buying anything but only for the sake of saving money itself. I am targeting at least 5,000 N.T by the beginning of next year. My plan is simple: increase the income and decrease the expense. Yet as it sounded simple, I found it hard to bring it to practice. First, my income only directly come from the monthly allowance, which equals to a three digits number that is smaller than 500. Second, subtracting the number that I have to spend every month (on meals and transporting fees), the monthly allowance will decrease to a three digits number that is no more than 300. So if I want to reach at least half of my goal, I should eat as much as I can when I am not paying for the mean and walk to school if my dad is not driving me. This could work. I know some parents will reward their children if the kids do chores or get a high grade in school. But it’s not my case. I think doing chores and maintain good grades are responsibilities rather than jobs that are rewarded. So no, I won’t ask my dad to pay me just because I mop the floor or get an A. To reach my goal, I should probably save the money to bank or post office or someplace like that. I can earn some money based on the interest from my deposit funds.

Friday, August 9, 2013

Best Jobs

Recently I saw this rank online: The 100 Best Jobs (http://money.usnews.com/careers/best-jobs/rankings/the-100-best-jobs?int=7acb53). It's ranked by a combination of salary, employment opportunity, work-life balance, and job security (The top jobs are mostly medical-related job. Even with economic downfall, it is hard to affect the medical sector because there are always demands for it). This relates to economy in terms of choices. People maximize the profit by making choices. The costs include not only the direct cost such as prices but also the opportunity costs. In this case, if one choose to spend more time on working, one's opportunity cost might be the time to relax and have fun. Another research shows that the best paid jobs are doctors and surgeons. However, I saw an interview with doctors talking about their personal life. One said he barely sleeps. Another said he spends most of the time in the hospital than in home. There is even one said he hasn't watched movies in theater for over 10 years. Anyway, personally, I'd prefer to work to earn a lot even if I have to give up the entertainment time. Maximizing my profit is rather maximizing my literal economic profit.