The plan is to simplify the complex fiscal system and replace the current rates of between 14% and 45% with just three tax brackets of 15%, 25% and 35%.
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Broadly speaking, countries that are more ethnically or racially homogeneous are more comfortable with the state seeking to mitigate inequality by transferring some resources from richer to poorer people through the fiscal system.
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Again, it's very important to see risk-sharing, backstopping of the banking system to greater fiscal union.
During the past five years, we have had a range of shocks to the financial system: from fiscal cliffs to investment banks going out of business to unusually low interest rates.
This government took a country with excellent fiscal finances, a surplus in fiscal accounts, and a banking system that was in excellent health.
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On top of this, Germany's dismal fiscal situation needs tackling and its federal system needs overhauling.
If a country does not improve its fiscal policy, a fixed-rate system may simply store up trouble.
Instead of having a pension system that's a fiscal drain, we would have one that's a capital creator.
But some of the errors were quite serious: the system spit out the wrong fiscal year or did not recognize the organization at all.
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True, that was mainly because of Asian demand for Canada's natural resources, as well as the strong fiscal position and well-regulated banking system Mr Harper inherited from the Liberals.
Its new system of economic governance to impose fiscal discipline is coming into force.
And in any case, it has conditions of its own: the euro zone must have a proper means of enforcing fiscal rules and a better crisis-management system.
Instead, the Conservative leader imagines a welfare system where ministers in Whitehall pull fiscal strings which encourage people towards his party's core values of hard work, saving, marriage and having children (when you can afford to).
Germany's low inflation rate, its limited room to ease monetary or fiscal policy and the problems in its banking system look horribly like the early symptoms seen in Japan in the mid-1990s before it sank into deflation.
Yet it may take a less improvised tax system, as well as proof that the Fiscal Responsibility Law really does bite, to persuade investors that Brazil has finally given up its profligate old ways.
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So at a meeting with Mr Cardoso this week, congressional leaders promised greater urgency on constitutional amendments aimed at tackling Brazil's rigid and generous entitlement system, which is the root of its fiscal problems.
And while all this forecasting assumes the eurozone doesn't implode, and that the US avoids falling off a fiscal cliff, the fear of more shocks to the system are expected to continue weighing on consumer confidence at least until 2014.
The UK government has stated that its fiscal objective is to make the UK the most competitive tax system in the G20.
Dr. ORSZAG: Well, the key to our long-term fiscal future is actually improving the efficiency of the health care system, and I think there's a lot that can be done there to bring - to bend the curve on health care costs.
However, the government has been quick to bail out its banking system, and most economists reckon that a large fiscal boost and the cheaper won (down by 29% this year) will help to cushion the economy, resulting in modest growth, of around 3% next year.
Just as now is the time for the U.S. to come to grips with its looming fiscal wreck, it is also time to consider how a global banking system has grown up in a world of fiat money, with no anchor or backing (as in the past, to gold) but instead just the full faith and credit of nations and their agents, the central banks.
That seemed brave, but it risks jeopardising the complete overhaul of the federal system that is crucial to the country's medium-term fiscal stability.
However, despite the macro-economic, industry and company-specific headwinds we faced in fiscal 2013, investments we made in strategic acquisitions, vendor relationships, and system enhancements further strengthen and better-position Tech Data for the future.
His latest speech on the debt ceiling crisis and his speeches on the fiscal cliff have shown him to be as much a part of the broken system in Washington as anyone else.
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Sales of the new system have not been included in the financial forecasts announced today for the fiscal term ending March 2012.
Of course, while giving up national control over the banking system will be more acceptable for voters than giving up the right to set fiscal policy, national governments will still find this hard to swallow.
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With a fiscal position little better than most of the Mediterranean countries' and a far larger banking system than in any other European economy, Britain with the euro would have been Ireland to the power of eight.
As a whole this system will consume 29 percent of the total national budget of JPY 220 trillion in fiscal 2011.
Given the new fiscal realities, regulators and prosecutors must first address their in-house inefficiencies and implement a responsible system of triage when deciding whether to invest time and resources into a new investigation.
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China's fiscal position is generally strong, and it's managed to avoid too much damage to its banking system.
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