US needs to reduce debt - will raising tax rates work?

That US is slipping into another recession is not something new.
It is a point that nearly everyone agrees on.
But the bigger question is how the US would come out of this mess?
As suggested by economist, Graeme Maxton, US needs to reduce its debt burden.
And the only way to do that is by raising the tax rates in the country.
Raising rates would mean the consumers would have to cut back on their spending and pay back the debts instead. Will this work? Need to wait and watch!

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Mountains of food stock goes waste : Another instance of government inefficiency!

Look at government inefficiency, food prices have galloped at an alarming rate over the last few months. Some blame it on the poor monsoons. Some blame it on hoarding by greedy middlemen. In my opinion, the government unknowingly itself is a massive hoarder. As per a report in a financial daily, the stock of rice and wheat in government granaries is way above the minimum requirement. Sadly, much of this excess stock is stored in the open. It either rots or feeds pests. In my view, this is a national shame. We cannot get the basics right in such a crucial area when food prices are spiraling out of control and millions of Indians still go hungry. Such stocks should be stored properly and released in small lots to stabilise prices.

Biyani looks at the bigger picture

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Infosys kick started the March quarter and full year FY09 result season today on a mixed note

Infosys kick started the March quarter and full year FY09 result season today on a mixed note. Although its fourth quarter operating performance did not have much to be enthused about, the company managed to add 37 new clients and 1,772 employees (net) during this quarter. This goes to show the consistency in the company’s long term business prospects. While the full year profits grew by a healthy 29% YoY, the company announced an earnings guidance for FY10 that would be lower by 3% to 7% YoY as compared to FY09 EPS.

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