The Difference between Lawmakers and Economists: The State versus the People (Part II) Preview The Difference Between Lawmakers and Economists: the State versus the PeopleThe State vs the people The difference between law leaders and political operatives is a hard question to answer. But, on paper what we can learn is that politicians are the real actors, and this is because the laws have been applied to them before them. That being said, at this point the idea that everyone and their fellow citizens should be governed by the laws is still there. However in the States those laws have often had varying effect on different industries. A good example of this is New Jersey’s New Deal laws, where some businesses have been forced to close because of opposition from businesses. A different example, Arizona’s Fair Labor Standards Act (FLSA) which was repealed in 1986 was a complete ban on a certain kind of overtime (e.g. paid sick days) to the state’s public employees (those in medical and dental practice, for instance).
The difference between Economic And Political Leaders: The New Deal vs. New Constitution (Part III) Preview The differences between economic and political leaders are often more personal, however they are only the most basic of them. Economic leaders do not have the power nor authority to change laws to give political power back to them (as opposed to power to run the government). Political leaders, on the other hand, have power to alter the rules of the game and to influence politicians to have more clout in determining the law. Thus there is a great difference between political leaders and economic leaders. Economic leaders, such as the speaker of the House of Representatives, have more power than political leaders, which includes economic leaders, as can be seen from the following excerpt from the New Deal section: The New Deal (the Constitution of the United States) is the most powerful law ever passed for economic growth. It made the economy grow by 3 per cent each year, to an unprecedented rate of 3 per cent in 1910. It introduced a new, lower tax which taxed only 0.1 per cent of profits a year (i.e. wages). By 1921 the Federal Income Tax was $5,800 per year. The New Deal increased our tax system to cover the average 1 per cent of gross income. It had an immediate effect on the economy. As President Woodrow Wilson wrote in his account of Economic History, there will be no more than five million new individuals in this country. When President Roosevelt came to power, there would be more than three million workers, more than eight times as many as ever before, that will grow to over twenty-five times the size of Connecticut. The nation was saved from its economic collapse by the advent of the New Deal. In New Deal law the Federal government has no veto over the State legislature. Under the constitution of the United States the State government is the only group controlled by the federal government. Its sole job is to enforce our laws (and our laws are enforced in very difficult cases like this). The New Deal did not make New Deal laws any longer easier to enforce, they just removed them entirely from law (at the local level too and by virtue thereof
The Difference between Lawmakers and Economists: The State versus the People (Part II) Preview The Difference Between Lawmakers and Economists: the State versus the PeopleThe State vs the people The difference between law leaders and political operatives is a hard question to answer. But, on paper what we can learn is that politicians are the real actors, and this is because the laws have been applied to them before them. That being said, at this point the idea that everyone and their fellow citizens should be governed by the laws is still there. However in the States those laws have often had varying effect on different industries. A good example of this is New Jersey’s New Deal laws, where some businesses have been forced to close because of opposition from businesses. A different example, Arizona’s Fair Labor Standards Act (FLSA) which was repealed in 1986 was a complete ban on a certain kind of overtime (e.g. paid sick days) to the state’s public employees (those in medical and dental practice, for instance).
The difference between Economic And Political Leaders: The New Deal vs. New Constitution (Part III) Preview The differences between economic and political leaders are often more personal, however they are only the most basic of them. Economic leaders do not have the power nor authority to change laws to give political power back to them (as opposed to power to run the government). Political leaders, on the other hand, have power to alter the rules of the game and to influence politicians to have more clout in determining the law. Thus there is a great difference between political leaders and economic leaders. Economic leaders, such as the speaker of the House of Representatives, have more power than political leaders, which includes economic leaders, as can be seen from the following excerpt from the New Deal section: The New Deal (the Constitution of the United States) is the most powerful law ever passed for economic growth. It made the economy grow by 3 per cent each year, to an unprecedented rate of 3 per cent in 1910. It introduced a new, lower tax which taxed only 0.1 per cent of profits a year (i.e. wages). By 1921 the Federal Income Tax was $5,800 per year. The New Deal increased our tax system to cover the average 1 per cent of gross income. It had an immediate effect on the economy. As President Woodrow Wilson wrote in his account of Economic History, there will be no more than five million new individuals in this country. When President Roosevelt came to power, there would be more than three million workers, more than eight times as many as ever before, that will grow to over twenty-five times the size of Connecticut. The nation was saved from its economic collapse by the advent of the New Deal. In New Deal law the Federal government has no veto over the State legislature. Under the constitution of the United States the State government is the only group controlled by the federal government. Its sole job is to enforce our laws (and our laws are enforced in very difficult cases like this). The New Deal did not make New Deal laws any longer easier to enforce, they just removed them entirely from law (at the local level too and by virtue thereof
The Difference between Lawmakers and Economists: The State versus the People (Part II) Preview The Difference Between Lawmakers and Economists: the State versus the PeopleThe State vs the people The difference between law leaders and political operatives is a hard question to answer. But, on paper what we can learn is that politicians are the real actors, and this is because the laws have been applied to them before them. That being said, at this point the idea that everyone and their fellow citizens should be governed by the laws is still there. However in the States those laws have often had varying effect on different industries. A good example of this is New Jersey’s New Deal laws, where some businesses have been forced to close because of opposition from businesses. A different example, Arizona’s Fair Labor Standards Act (FLSA) which was repealed in 1986 was a complete ban on a certain kind of overtime (e.g. paid sick days) to the state’s public employees (those in medical and dental practice, for instance).
The difference between Economic And Political Leaders: The New Deal vs. New Constitution (Part III) Preview The differences between economic and political leaders are often more personal, however they are only the most basic of them. Economic leaders do not have the power nor authority to change laws to give political power back to them (as opposed to power to run the government). Political leaders, on the other hand, have power to alter the rules of the game and to influence politicians to have more clout in determining the law. Thus there is a great difference between political leaders and economic leaders. Economic leaders, such as the speaker of the House of Representatives, have more power than political leaders, which includes economic leaders, as can be seen from the following excerpt from the New Deal section: The New Deal (the Constitution of the United States) is the most powerful law ever passed for economic growth. It made the economy grow by 3 per cent each year, to an unprecedented rate of 3 per cent in 1910. It introduced a new, lower tax which taxed only 0.1 per cent of profits a year (i.e. wages). By 1921 the Federal Income Tax was $5,800 per year. The New Deal increased our tax system to cover the average 1 per cent of gross income. It had an immediate effect on the economy. As President Woodrow Wilson wrote in his account of Economic History, there will be no more than five million new individuals in this country. When President Roosevelt came to power, there would be more than three million workers, more than eight times as many as ever before, that will grow to over twenty-five times the size of Connecticut. The nation was saved from its economic collapse by the advent of the New Deal. In New Deal law the Federal government has no veto over the State legislature. Under the constitution of the United States the State government is the only group controlled by the federal government. Its sole job is to enforce our laws (and our laws are enforced in very difficult cases like this). The New Deal did not make New Deal laws any longer easier to enforce, they just removed them entirely from law (at the local level too and by virtue thereof
The profit motive of businesses set them apart from individuals under the law. A corporation is required to make choices that benefit the shareholders. This means that they cannot make decisions based on the will to help their fellow man or other businesses. Their one and only goal can be to bring in a profit to benefit the shareholders position. An individual had family and friends, who in some respects are like shareholders, because they have a vested interest. However as an individual, choices can be made not just based on profit, but possibly on morality or the desire to help others.
Corporations are their own legal entity, meaning it is separate from its members. Therefore, being its own “person” in the eyes of the law it has its own rights, the defining ones being; the ability to sue and be sued, the ability to hold assets, the ability to hire agents, the ability to sign contracts, and the ability to create by-laws to govern its own affairs. Individual people have many more rights than this, but this is due to an individual being able to make its own decisions where a corporations decisions are based of its stockholders.
Taxation is a huge difference between businesses and individuals. There are differences such as tax rates and reductions or exemptions that apply. Both businesses and individuals are taxed on their income. For most individuals, it is based on how much they get paid to do their job. In contrast, a businesses income is based upon their profit not on their revenue (how much they get paid to do the job before expenses). For both businesses and individuals you are taxed a small amount for the first portion of your income, and then taxed slightly more for the next portion of your income, and so on and so forth. These portions are different sizes for individuals, and even for different types of businesses. A good example of a reduction is marriage. If you are married your taxes are slightly reduced, however a business cannot be married, so obviously this reduction would not apply to a business. On the other hand businesses can take a research and development tax credit. No matter how much an individual would like to play mad scientist, this tax credit is unavailable.
While there are differences between businesses and individuals,
