"Grameen has given out billions to borrowers around the world, mainly women below the poverty line, and has recouped 98 percent of its loans."
So often I read from the economic ideologues how we need the rich for job creation. Knowing many rich people I laugh at the idiocy of this idea. Why the idea persists is simply the idea suits a narrative of thought that lower taxes create jobs when that simply is not true. Although the rich love it. Below is another good idea and the work of another good person, hopefully it will stay a good idea.
'An Asian bank for low-income women is out to teach Wall Street a lesson.'
"This summer, the little Bangladeshi bankalready operating in New York; Omaha; and Washington, D.C.will move into its fourth U.S. city, San Francisco, fueled by a series of loans from institutions like Wells Fargo and Capital One that, aside from basking in the glow of good PR, have realized that they are more likely to get their money back by lending to African-American hairdressers in Queens or Latina food-cart operators in D.C. than by chucking money at middle-class whites who have bought more McMansion than they can afford."
Grameen Bank Expands Into America - Newsweek
Yunus Centre
"There is no historical evidence that tax cuts spur economic growth. The highest period of growth in U.S. history (1933-1973) also saw its highest tax rates on the rich: 70 to 91 percent. During this period, the general tax rate climbed as well, but it reached a plateau in 1969, and growth slowed down five years later. Almost all rich nations have higher general taxes than the U.S., and they are growing faster as well." Tax cuts spur economic growth
So often I read from the economic ideologues how we need the rich for job creation. Knowing many rich people I laugh at the idiocy of this idea. Why the idea persists is simply the idea suits a narrative of thought that lower taxes create jobs when that simply is not true. Although the rich love it. Below is another good idea and the work of another good person, hopefully it will stay a good idea.
'An Asian bank for low-income women is out to teach Wall Street a lesson.'
"This summer, the little Bangladeshi bankalready operating in New York; Omaha; and Washington, D.C.will move into its fourth U.S. city, San Francisco, fueled by a series of loans from institutions like Wells Fargo and Capital One that, aside from basking in the glow of good PR, have realized that they are more likely to get their money back by lending to African-American hairdressers in Queens or Latina food-cart operators in D.C. than by chucking money at middle-class whites who have bought more McMansion than they can afford."
Grameen Bank Expands Into America - Newsweek
Yunus Centre
"There is no historical evidence that tax cuts spur economic growth. The highest period of growth in U.S. history (1933-1973) also saw its highest tax rates on the rich: 70 to 91 percent. During this period, the general tax rate climbed as well, but it reached a plateau in 1969, and growth slowed down five years later. Almost all rich nations have higher general taxes than the U.S., and they are growing faster as well." Tax cuts spur economic growth