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Consumer Corner: Foreclosure settlement no magic bullet for economy
BEIJING, Nov. 21 (UPI) -- The Chinese government's head economist, Zhou Qiren, said Friday that the country's legislative body has agreed to tax reductions to stimulate the economy.
"As far as I know, the National People's Congress has already reached a consensus" to raise the individual tax income threshold, currently set at about $300 per month, Zhou said.
The official did not say where the new income threshold would be set, but he said a proposal to raise the level where the tax is triggered to about $1,100 per month was "too high," the state-run news agency, Xinhua, reported.
The tax reduction, meant to stimulate the Chinese economy, follows a $586 billion economic stimulus package announced by the Beijing government Nov. 9.
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SYDNEY, Feb. 13 (UPI) --
Researchers in Australia are developing a solar roof system that uses wasted energy to warm air and water.
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WASGHINGTON, D.C., Feb. 13 (UPI) --
Defense industries are weighing the potential impact of proposed defense cuts running into tens of billions of dollars over the next 10 years.
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Local markets will probably not be swamped by waves of foreclosures following the multi-state mortgage settlement announced yesterday. Rather, the huge inventory of one to two million foreclosures will enter markets gradually....
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Investors will not have the distraction of financial reports to look forward to this week. They will have to look at the spot news headlines instead.
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