However, movement is slow and some politicians are reluctant to changes in the system. “Critics of the Bush plan believe that the current system will be able to continue distributing the same level of benefits until 2075, if the economy continues to grow as it has historically.” (Wilson) Republicans are pushing to cut benefits; lower payments mean less revenue that needs to be brought in. Democrats push to expand benefits, they believe in a retirement for all people and want to avoid cuts in benefits in any way possible. “The consensus among Democrats has gone beyond opposition to benefit cuts. Now they stand almost united in favor of expanding Social Security.” (Biggs) While both sides argue which
(b) Prepare the year-end adjusting journal entry to record bad debts using the aged uncollectible accounts receivable determined in (a). Assume the current balance in Allowance for Doubtful Accounts is a $650 debit. Dr. Cr. (c) Assume that the company has a policy of providing for bad debts at the rate of 1% of sales, with Sales for 2008 being $55,000. Prepare the adjusting entry for bad debts under the percentage of sales basis.
He also recommended that the First Bank of the United States be re-chartered, insisting that it could help stabilize the economy. It was not renewed therefore Gallatin had a hard time funding the War of 1812, which led him to reintroduce the taxes he had been opposed to before. After he resigned from his position, Gallatin was
For allowing the compressor station to be built, Dominon will pay tax revenue to Chemung County, the Town of Veteran and local school districts. At this time Dominon, doesn 't have an estimated dollar amount for how much that would be but says according to the National Grid, the New Market Project will save its customers more than $20 million over the next 10 years by delivering a domestic supply of natural gas instead of getting it from Canada. The project already got approval from the Chemung County and Town of Veteran Planning Boards as well as
Since Thomas Jefferson had already became president, Marbury was not granted his position because Thomas Jefferson told Madison, his secretary of state, to not deliver the document with John Adams’ orders. McCulloch v. Maryland (1819) The McCulloch v. Maryland Supreme Court case dealt with a matter relating to taxes being made for federal banks being on a state 's land. An act had been previously passed that stated that federal banks could be inside a particular state. However, Maryland then passed an act stating that taxes would have to be
In the 1980 President Carter proposed that the Moscow Olympics be moved to another country, postponed, or canceled if the Soviet Union failed to withdraw its troops from Afghanistan within a month. President Carter declared that "it’s very important for the world to realize how serious a threat the Soviets’ invasion of Afghanistan is" trying to tell people the danger of Afghanistan and its ways, but he failed to state that to the people. The President Carter went on ahead to the U.S.O.C. to suggest them to withdraw American athletes from the games. Then President Carter made his suggestion in a television interview and in a letter to Robert J. Kane, who is the president of the U.S.O.C.
We understand the Blaine is a conservative company that doesn’t like to raise debt, but we believe that raising the right amount of debt will help drive value to the company and investors. As mentioned in our analysis, we believe it’s best to use $50 million of cash, $50 million of marketable securities, and raising $40 million of debt to repurchase shares. This means we can repurchase a total $140 million in shares. We recommend a 15% repurchase premium, which would set the repurchase price at $18.70. With that, we will be able to buy back approximately 7.5 million shares, or 1/8th of the total outstanding shares.
(ref) The discount rate used was the after tax cost of debt. We worked out and the net present values of each option and thereafter picked the option that has lower present value of cash outflows. Our NPV calculations for both options were backed with sensitivity scenario analysis of both the buy and leas options. Sensitivity Scenario Analysis Sensitivity analysis scenario is used to show how changes in one or more variables below and above the used variables would affect the intended results. I our sensitivity analysis scenario for Dragon Air lease vs buy decision we varied the cost of capital between 1% and 5% as the main driver in the case.
One of these were the many legislative assaults against the ACA, which are sadly still happening today. Many of the republicans in the house did not agree with the passing of the ACA and in 2015 they even voted to delay its individual mandate for a year. At the time the democrats had the 60 majority votes that they needed to pass the ACA. However, after the bill passed the Senate, Democrat Senator Ted Kennedy died and was replaced by the Massachusetts elected Republican, Scott Brown. So if the house had to make changes to the bill, they would not have the necessary number of democratic votes to pass the bill.
After studying the Rwandan genocide, I believe that many lives could have been spared. There were plenty of early warnings of the genocide, but they were systematically ignored. For example, in the spring of 1992, the Belgian ambassador in Kigali, Johan Swinner warned his government that the Akazu were planning the extermination of the Tutsi of Rwanda to “resolve once and for all, in their own way, the ethnic problem” (Genocide Watch). In the film as well as the documentary, the concept that governmental authorities refuse to recognize that genocide was underway in Rwanda. One fact is that the US government was forewarned of the impending genocide.