Posts tagged with: business

In a new video from Made to Flourish, Tim Keller offers practical guidance to ministers and churches on how they can better disciple their people when it comes to work and stewardship:

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Both my parents grew up in Detroit, and my childhood was filled with great trips to visit family for holidays and in the summer. The downtown Hudson’s store was always a destination. One of my aunts worked there, and it was the place to shop. Our trips always included a stop for a Sander’s hot fudge ice cream puff as well. My sisters and I played endless games on the stoop of my grandmother’s home, and a few miles away, rode bikes up and done sidewalks neighborhood sidewalks with our cousins.

That Detroit doesn’t exist anymore. What was once a thriving and beautiful Midwestern city is now a place struggling to remake itself. Harry Veryser, economist and professor at University of Detroit Mercy, has a few ideas as to how Detroit just might make a comeback, and why it ended up the way it is now.

 

Blog author: jcarter
Wednesday, April 15, 2015
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7figuresToday is tax day, the day when individual income tax returns are due to the federal government. Here are seven figures you should know about tax day:

1. The average federal tax rate for all households (tax liabilities divided by income, including government transfer payments) before taxes is 18.1 percent.

2. Households in the top quintile (including the top percentile) paid 68.8 percent of all federal taxes, households in the middle quintile paid 9.1 percent, and those in the bottom quintile paid 0.4 percent of federal taxes. (Quintiles — fifths — contain equal numbers of people.)

3. Social insurance taxes (e.g., Social Security, Medicare) account for the largest share of taxes paid by households in all but the top quintile.

4. The U.S. tax code is approximately 2,600 pages long (about 1.5 times longer than Tolstoy’s War and Peace and 2.5 times longer than Ayn Rand’s Atlas Shrugged).

5. At midnight, the U.S. Treasury gets an extra $760 million. Taxpayers have three years to claim refunds, so the $760 million that is owed to 918,600 people will, by statute, go to the governments coffers tomorrow.

6. If you’re owed a refund, you won’t get in trouble if you miss the April 15 filing deadline. But if you’re wrong and you actually owe money, you’ll incur a maximum penalty of 5% for each month after the deadline. If you’re more than 60 days late, you’ll be fined $135, or 100% of the unpaid tax — whichever amount is smaller.

7. Examining 30 years of road crash data from the National Highway Traffic Safety Administration, researchers found that fatal car crashes increase 6 percent on April 15.

Bill Dalgetty’s Hope for the Workplace, Christ in You is rich with stories of people in business who are struggling to integrate their faith and work lives. Weaving biblical parables with dozens of real life stories gleaned from his experience as president of Christians in Commerce International, Dalgetty points—usually explicitly and sometimes in a more nuanced way—to universal truths of human conscience.

Dalgetty, a career attorney and executive for Mobil Corporation, is sensitive to corporate America’s overly PC culture. He acknowledges that living one’s faith in corporate America is often times difficult because a culture of “inclusiveness” means overt expressions of religious faith are forbidden. In plain, un-lawyer-like language, Dalgetty translates his ardent Christian faith into universal values that would be acceptable in any secular workplace.

The author’s own journey of faith can be pieced together from various anecdotes in the book: He was a highflying attorney for the huge multinational energy corporation and worked primarily in New York City and Northern Virginia. Little by little, his career ambition eclipsed the time and energy he put into his family, his health, and his faith. He continued to go to church, but admits that the faith was only superficial.

That all changed when his wife invited him to a “Week of Renewal” event that was being held by a local Catholic parish. There, he had mystical experience which is described in great detail. As a result of this experience Dalgetty was inspired to begin intentionally fostering a personal relationship with Jesus Christ. While it is clear that the author is a devout Catholic, he is strongly influenced by the mystical and more charismatic communities, giving Hope for the Workplace an ecumenical appeal. (more…)

Whole Foods Founder John Mackey

Whole Foods Founder John Mackey

There are those who decry the infusion of faith in business; after all, why should the bakers down the street be able to turn down the account for the gay wedding? But many entrepreneurs – in many industries and with many different beliefs – intertwine their beliefs and their business … and it’s not always what you think.

Christ Horst at Values & Capitalism says faith (of many different types) plays a role in business in our country. Whether you agree with it or not, many business people live out their faith life with their business life.

For instance, many faithful business folk practice charity through their businesses because of their religious beliefs. Manoj Bhargava, the creator of the wildly-successful 5-Hour Energy, spent years as a monk in India. He predicts his company will give away $1 billion in the next 10 years. David Neeleman, of JetBlue, offers his company’s services to the Mormon church. (more…)

cogIn a recent piece for the Wall Street Journal, Rachel Feintzeig sets her sights on the latest trends in corporate “mission statements,” focusing on a variety of employer campaigns to “inject meaning into the daily grind, connecting profit-driven endeavors to grand consequences for mankind.”

Companies have long cited lofty mission statements as proof they have concerns beyond the bottom line, and in the past decade tech firms like Google Inc. attracted some of the economy’s brightest workers by inviting recruits to come and change the world by writing lines of code or managing projects.

Now, nearly every product or service from motorcycles to Big Macs seems capable of transforming humanity, at least according to some corporations. The words “mission,” “higher purpose,” “change the world” or “changing the world” were mentioned on earnings calls, in investor meetings and industry conferences 3,243 times in 2014, up from 2,318 five years ago, according to a Factiva search.

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lemonade-stand-illegal-425ds072709Entrepreneurs – those people among us who seek to serve others through business – are an optimistic bunch. So says the 2014 Amway Global Entrepreneurship Report, published annually by Amway Corporation, the world’s largest direct sales company. It’s a good thing entrepreneurs are optimistic; they have a lot of work to do. According to Amway Chairman Steve Van Andel:

Entrepreneurs play an important role in growing economies. They create jobs, encourage competition and help communities grow and flourish. As the business environment has changed through the years, so have the reasons people decide to venture out on their own.”

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071016_schoen_middleClass_hmed5p.grid-6x2In the latest edition of his monthly newsletter, Economic Prospect, John Teevan offers three keys to cultivating a flourishing middle class, as excerpted below:

  1. Income and Jobs: America looks at jobs and incomes alone and can only explain fading middle class by blaming rich people. We can do better than just focus on money. Isn’t life more than your job and what it will buy? …
  2. Marriage and Family. The middle class would swell and poverty would be decimated if all people were married. The endless single-parent homes are poor almost by definition. It’s practically a rule that you can’t be middle class if you have a child and are not married. Marriage makes it possible to attain other middle class values such as upward mobility, a house…filled with “nice” things, along with pleasant home life, free time, and feeling successful. Whether you ask CNBC’s Larry Kudlow or Rainbow Coalition’s Jesse Jackson they agree: the one thing that would help individuals and the nation with respect to poverty is for most people to get married. Kudlow recently said that, “…marriage gives people a reason to work, a home one hopes is stable, and children for whom two parents feel responsible” (Nov 11,2014 T-U).
  3. Values and Morals. Middle class morals and values may seem like a quaint topic, but you can’t have a middle class without them. At one time the middle class was divided between blue and white collar jobs. What’s crucial is that (a) both collars valued work for income and also as proof of competence and responsibility. (b) The middle class values education. Literacy was essential in 1900, by 1950 it was a high school degree, and now you need at least an Associate’s Degree to have the education needed for joining the middle class. (c) A sense of civic responsibility is another middle class value so that parents are involved in their children’s schooling, local government, church, and other not-for-profits. Shouting NIMBY at a zoning meeting does not count. (d) Decency. Decency didn’t mean that there was no bad behavior but that bad behavior was not considered the norm; decency was the norm, but no longer. You can have an income of $25,000 or 85,000, but without these values you are not middle class. Why do middle class people tend to be decent, moral, educated and civic? Because it makes a real difference to them and their families.

Integrated Justice - front cover (1)Echoing some of the key themes of his latest book, Integrated Justice and Equality: Biblical Wisdom for Those Who Do Good Works, Teevan proceeds to critique the modern tendency to focus only on #1 (income and jobs) to the detriment of family and values/morals.

As Teevan explains, “a robust and even biblical view of life unites work, ethics, and family into a life that thrives and is worth living both at work and home”:

We can’t have a middle class just by juicing incomes; it takes middle class values as lived out in families as well. Is this obsolete thinking? The alternative is to wonder if the middle class itself is obsolete. And what if it is? Then the world will be divided into well-educated high income people and all others who do basic service, construction, transportation, retail and manufacturing. One drawback of our high focus on business and economics is that it is accompanied by the idea that ethics and family are secondary or even optional. A robust and even biblical view of life unites work, ethics, and family into a life that thrives and is worth living both at work and home.

For more of Teevan’s views on inequality and justice, see his book, Integrated Justice and Equality: Biblical Wisdom for Those Who Do Good Works, which is now available from Christian’s Library Press, an imprint of the Acton Institute.

The above excerpt is from Teevan’s monthly email, Economic Prospect, which you can subscribe to by sending him a request.

parsonage (1)A federal court of appeals has rejected an atheist group’s lawsuit seeking to strike down a 60-year-old tax provision protecting ministers, notes the Becket Fund. The ruling allows ministers of all faiths to continue receiving housing allowances. “This is a great victory for separation of church and state,” said Luke Goodrich, Deputy General Counsel of the Becket Fund of Religious Liberty. “When a group of atheists tries to cajole the IRS into raising taxes on churches, it’s bound to raise some eyebrows. The court was right to send them packing.”

Aside from the question of constitutionality, the clergy exemption raises a question that many people — whether religious or not — are likely to be wondering: Why exactly do ministers receive a tax exemption for their housing allowance?

To answer the question we must first consider how taxation of church property, including clergy housing, has historically been considered.
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LBJ’s so-called “war on poverty” kicked off a trajectory of public policy that has shown a remarkable tendency to create more of the same — affirming cycles of dependency, disintegrating relational capital, and over-elevating material tinkering to the detriment of the permanent things.

Yet somehow the prevailing narrative still holds that those same sickly policies are the best we can hope for, and anyone who disagrees is an enemy of the poor. If money shall be transferred from Person X to Person Y and the label on the packaging reads “anti-poverty!”, what else is there to discuss?

In a recent interview with Senator Tim Scott (R-SC), MSNBC’s Thomas Roberts assumes the common prejudice (4:11):

Roberts begins by pointing to a series of progressive measures that Scott has opposed in the past, proceeding to ask, quite presumptuously, “How do you respond to that, if your true concern is about lower income families and kids?” One can only be concerned for the poor if they subscribe to the very policies that have failed them, apparently. (more…)