Warren Buffett’s solution to income inequality is to expand the Earned Income Tax credit

Yes, this is a weird post and lot of you will be wondering why i am posting this on a blog meant for kids.Well, Income Inequality is something a lot of economists are trying to solve for a long time. It impacts society in many ways – it is not about just affording the next generation iPad or having the ability to take a vacation thrice a year.It is about staying at pace with everyone and be able to put food on the table for your family on a consistent basis.

Raising the minimum wage is one way to solve this.

But increasing the Earned Income tax credit is one solution to the problem.It rewards work.

A tax credit in the United States which benefits certain taxpayers who have low incomes from work in a particular tax year. The earned income credit (EIC) reduces the amount of tax owed on a dollar-for-dollar basis, and may result in a refund to the taxpayer if the amount of the credit is greater than the amount of tax owed.
(borrowed from http://www.investopedia.com/

Go over this video for a better understanding. http://finance.yahoo.com/news/warren-buffett-s-solution-to-income-inequality-could-work-171802051.html

“How do you get people to like you?” – See what Warren Buffett had to say to a 7th grader.

1. Be generous
2. Mimicking others
3. Praise others
4. Stay humble
5. Be curious

Bonus: Smile

http://www.fool.com/investing/general/2015/05/17/warren-buffetts-brilliant-advice-to-a-7th-grader.aspx?source=eogyholnk0000001buffett_large

Bright Future lies ahead for Harrison Barnes

Came across this article in our local newspaper’s website. Wishing Harrison Barnes the Best of Luck !

http://www.mercurynews.com/warriors/ci_28135481/harrison-barnes-approval-ratings-through-roof

Golden State Warriors forward Harrison Barnes (40) dribbles past Memphis Grizzlies forward Zach Randolph during the first half of Game 6 of a second-round NBA basketball Western Conference playoff series Friday, May 15, 2015, in Memphis, Tenn. (AP Photo/Mark Humphrey)

Golden State Warriors forward Harrison Barnes (40) dribbles past Memphis Grizzlies forward Zach Randolph during the first half of Game 6 of a second-round NBA basketball Western Conference playoff series Friday, May 15, 2015, in Memphis, Tenn. (AP Photo/Mark Humphrey)

Beautiful Hikes

http://www.buzzfeed.com/nicolenguyen/west-coast-best-coast-hikes?lang=en&utm_campaign=10today&flab_cell_id=3&flab_experiment_id=130&uid=36974413&utm_content=article&utm_source=email&part=s1&utm_medium=10today.0413&position=5&china_variant=False#.xfxWB3j6r