A historic step by Tax Justice Campaign is the g. 20 group of the worlds most powerful countries as considering a global tax on the unit, as im checking baggage fees for airlines or frank, what horizon did you with the amount of range of Services Offered at the booking stage . So how does that affect the cost of travel . The, the American Economy is booming, inflation is down, the job market is strong and wages of rising. Yet many people in the us dont feel better off now than when joy bite and took office in 2021. Americans are getting ready to cost a balance in the van, but the health of the us economy is vital to any present and seeking re election. Well by them has avoided the recession. There was one major effect that weighing heavily on consumers sentiment. The housing markets. Us housing prizes hit all time highs and december high inflation and less could supply a to t fact is pushing up the cost at the same time Mortgage Rates of sold in 10. 00 to 21. 00. They averaged at less than 3 percent. Now they established around 7 percent and this makes a big difference to household budgets. The mortgage on a typical home is 320000. 00. Paid back on the associate is by the 2021 res, consumes were paying around 1350. 00 per month with someone buying the same house now would be paying 8800. 00 more. The increase is largely linked to federal Interest Rate policy. The fed hiked rates in order to get inflation on the control. These are expected to begin coming down later in the year. But Mortgage Rates are unlikely to draw onto mesa, since by them cant do much about rates, he is hoping to bring down prices. Hell be trying to push measures through congress, aim to building more affordable housing. The 2024 us president ial election is expected to be a close contest between biden and his rival. Donald trump also voting on super tuesday. Largest perceptions about the economy will be a key factor. A wall street journal poll found on 831 percent of bullshit spells that had improved in the past 2 years. And a Financial Times poll found more americans believe donald trump will do a better job on the economy as well. The cause of 19 pandemic is also a major factor affecting how many villages remember trump and bidens terms and office for transfer. 3, yes, x. But say the economy was performing well by many indicators, including g, d, p growth, employment, and the stock market. But the out for it at the end of his term let mass of job losses and a short lived recession. Bidens early, tenuous, so many of those jobs come back and growth with to but much of that was due to the pandemic winding down and stimulus measures kicking in the rest of vitamins to him has seen a steady job growth and no unemployment, but high inflation and high Interest Rates and created challenges for many households. Its joining us now from single is dont eclipse. Hes the co founder of America Mortgage is great to see you must accept. So was housing the most affordable and generations in the us . Yeah, so um, you know, theres been 15 years of low Interest Rates with low Interest Rates and those that have access to that has been able to enjoy the appreciation of most assets that includes housing and you know, stocks and other asset classes. But the wealth of 5 people still feel generally unhappy because many of those individuals didnt get didnt have access to the funding. Um, as a general, well perfect because there are other aspects of data. The lights that are very expensive, like health care, transportation costs, school fees and other, other items that you need on a daily basis. And if we focus again on housing, why . Uh, why is Housing Stock at near historic close . Yeah, is it does a few factors. One is there is a historical high shortage of homes, anywhere between 3. 00 to 7000000. 00 homes. So you have a lot of homes. And because of where the Interest Rates have been, especially last for years, theres been a rush to purchase these homes or refinance. And that is cause a home prices to go out, you know, theres limited supply, theres a lot of demand. And we dont actually see that, you know, slowing down anytime soon. So for those that own homes, its great because you feel richer on with, you know, yeah. In terms of the assets that you, you, you have. And you said that you dont see that changing soon. But what about present of job bidens measures to make housing more affordable . Ive been making Home Ownership more affordable may increase demand, but what about has measures to increase supply . Will that make any difference in the short term . Yeah, so you know, at the end of the day, um, hold of those are public companies. I also have private companies. Um, you know, they have to, you know, to worry about and right now with where Interest Rates are, if i, if they were to release, even if they were incentivized due to various measures to uh, speed up the rolling of homes. If they roll, the amount of people cant afford to buy them anyway, then they have to make, you know, they have to manage their own, you know, and not just station time of incentive to actually building a home that takes a while. And i think its all good. I mean, you know, this, this type of shortage of homes is not sustainable. But it takes awhile, it takes a while to digest, to, you know, do the economy. Okay. It takes a while, we do have a impulse and an important election coming up in november is the housing market. How much of an issue is that june elections . And i see, you know, it all plays into a mosaic of many different things, right . So its a feel good factor. Uh, you know, not being able to, to own a home that you live in is obviously, thats the american dream. But you know, the economy slowly re tools, the more people read versus, oh, i think it felician, you know, of the things that you actually use cash to pay it on a day to day basis. Really affects how whole. But you know, Interest Rates will come into play, usually in elections. Whether thats going to be used as a political to us, you know, offer debate. But the general welfare is not great. You know, what ahead of the economy. This feels good about what asset prices are where you know, stocks and you know, what do you know where to go is for example and home prices. But those that havent been able to enjoy those benefits. Yeah. You know, obviously theyre not as happy. Sure. And you know, you mentioned Interest Rates, how likely is the Federal Reserve to go with them, especially with an election coming off. It doesnt want to be seen as taking sides douglas to well, i mean to say it is an independent body of so you know, the way the economy is accelerating at the moment. Obviously theres no. Ready urge or need to lower res, immediately at this moment. Whether or not the use of the political, like i said, you know, thats up for debate. But right now, you know, the economy is doing got to be accelerated from a low base. And a, you know, debatable recession that happened last year. But yeah, its definitely going to be talked about a lot more or the next few months. Yeah. And its interesting that you mentioned the economy is doing well. I mean america, the economic recovery has out before most of the world and yet only 37 percent of americans say they feel better off on divide. And then under trump 45 percent. Say that not. Why is that . The question, you know, you know, the way i look at it, um, you know, the economy or is, is a tale of 2 cities, right . You have one area where the real economy is. It wasnt great last year. And then the other hand, you have asset prices, so you have, you know, record high stops, you know, crypto is making record highs whole right. So. Ready you know, despite Interest Rates quadrupling, whole prices rose, so you have kind of a, these 22 types of situations happening. And i think this year the economy is kind of catching up to where, um, you know, asset prices are. But, you know, like i said, there are other things besides, you know, is that, you know, individuals need to use cash on a day to day basis. So if im struggling to pay for, you know, my, you know, gasoline or the price of, you know, milk and eggs are high. And meanwhile, i see on every day that stops are recognized in video and a s a d i feel like im being left out right or so. So i think theres a little bit of that. Um, theres definitely 2 sets of economies happening at the moment. But i think over time, you know, as people feel good about the prospects in place in society, you must feel good factor. I think the things we look 5, you know, paper, all that kind of feeling of being left behind it. All right, just a clip. Thank you so much for breaking. One of that down for us. Does donald eclipse of america . Mortgage is joining us from singapore. Thank you. The, the top one percent and the worlds most powerful nations, and more than 18 trillion 1. 20 to get the super rich and many g. 20 countries pay a far smaller share of the income and taxes than the average worker. The good wants to 1000000000 is to pay the 5th share, as is considering a global minimum tax on the well, it is being spit headed by covent g. 20 president , brazil. Ahead of us summit and vision now or later this year. Result, finance minister says International Cooperation is needed to prevent leads from evading their responsibilities. Matters to move, to quote you move on june to the worlds billionaires continue to evade our tax systems to a range of strategies. The tax observatories latest report on tax evasion showed the building. Theres pain effective tax rate equivalent to between 00. 5 percent of their wealth. Colleagues, i sincerely wonder how we the g. 20 finance ministers allow a situation like this to continue to keep the to 20 has already had success. Imposing a minimum tax of 15 percent on multinational companies. Economists say making 1000000000 is pay, they fish, it would provide a significant boost and revenue for governance. You said it was a modest x ray just to process you to generate a lot of tax wise with you 250000000000. 00 in addition to tax revenue from just 2 percent and medium tax on video. Theres about 3000. 00 individuals with joining us now from also in no way is elisa cassey at the hod. Shes an assistant professor at the new Region School of economics. Great to see you. Especially why do 1000000000 is pay less efficient and taxes than the average worker. And how much does that have to do with the fact that they are taxed on assets rather than income . Yeah, but there are 2 reasons. I mean, a reason why we just say a less taxes that were wanting to speak on in the next infinity design. So it should be on the diamond to become the money comes down for. Yeah. And progressive next age between tax rates as high as low as highest warranty on 45 percent. But there you just, you get the more your income not to range from. Yeah, i mean, i just, okay, for example and think about investment. I think im probably about on money and uh, just type on this because you guys actually the flat rate which you know. Right. Because because good. Yes. Fantastic. And more of a life government. But also yeah, the best that you meant, the copy that specs when you realize. So you just investment property, you just have to do tax when the meetings are distributed or when you get your shows and you have caps take. So you cannot, when i talked of when seen companies and type type or best thing where you are tech, the tech station youve been paying for it and its on the other side. Its one of my 1st name. So tax software. And yes, you just kind of hard to define sportsman especially define the border of the entries diction. I want part of the search that i want to ask you about. The board is and part of the reason why 1000000000 has pay less taxes. And of course, the use of offshore tax havens. I know that youve been researching, you know, how the introduction of a global system for the massive exchange of information on foreign Financial Assets has impacted tax evasion. Hasnt made a difference . What have you found . Yes. The so i think thats just the introduction of the market is changing, informational fashion and being that we need that system because we needed to make a tax. I was wanting to be able to back to detect when you be, but as you went and youd be less kind the or can come in with a quote and just come by and search, for example. We finally, thats telling me that the reaction was our induction. Around or to find the youngest on our e Bank Deposits and so forth, back 7. Sure your piece is, might not seem to be back to, to think of it as close to that. Youd see all kinds of things. So big reaction and we know whats in front of the research o 655. 00 of norway, thats the money. Thats what all the physical pieces went back. Well. So that is being compliant, especially in connection to this. Okay. Okay. You said, can you because the pay back however, i think that is the same as the genius and after the big speech and the reach of the what, what is kind of the warranty . So we have to follow. We see a relocation last and im not sure what the board has to be. I think my goal is to patient that done. Com. Okay, and so how the that you know, as a, how significant is it then that the g 20 is proposing texting the super rich . This is a, this is a, a very big and our junior was. So those guys talking just discussions and you see that the on year i yes, you might already be sure we need some vision of that for and uh, i think it was, i think the starting point start discussing it and i know that you yeah. And a lot, just lastly, you know, the 15 percent tax of multinational corporations has been re bar around to 140. 00 countries. But how much more difficult is it to tax individuals who are more involved in multinational corporations . It would be very challenging. You could be, in my opinion, thats why i keep more challenging. Thats why dont think about is about to especially because and when you do come out of west texas and nothing about you, im texting you easier than faxing was because by the way we have these things, i think very often things very hard for. So i think im going to process them. So whats the current i for sure. Nice the pump. Whats the kind of prize, or do you think when theyre noting transactions thats very challenging. So i think you would be very hard to find a common agreement that you think i think the last that depending on the country. So i think that would be how long did you on that . And that was the was to get it to you when you read to us, especially in the region, we dont have a 5 a to create ok, so hard to kind of do that. You will not take a lisa cassie ever had, joining us from us. Lo, thank you very much for your time. Thank you so much. But now if you want to taste of how the top one percent live on some bodies front of indian building a location on bonnie recently hosted a lavish 3 day pre wedding celebration in the city of goods at the bollywood stalls performed on stage for more than 1000 guess, 100 ships what to prepare. 500 dishes celebrities and Corporate Leaders were among those in attendance. The price tag is believed to be more than a 100000000. 00. And that is for the pre wedding. The wedding itself is happening in the summer for the security of Energy Supplies was discussed in algeria at the gas explosion, countries for on last week. The african nation names to become a critical supply to you, a p, a nation seeking to reduce de dependents on russian supply as a sign up and job it off the Russian Energy minister. Nikolai. Surely, you know how his nation is closing with the host and deliveries to europe for you that you the, i mean, we promote the idea that the gas market is free and has no restriction. That there are no collective purchases which europe is organizing at the moment. This is not the market approach in this people who algeria exports gas to europe. This is the export policy, because all african countries develop the export to support their economies. Regarding russia, as president said, if there are no gas deliveries to europe, the crane, we will live with that because weve been opening our exports in the east. The asia pacific countries, countries of global south east of us presents cuz we also developed a domestic market increasing local gas vacation volumes to the russian regions. On the other hand, you cannot ignore the fact that the european refusal their attempts to stopping the loss channels of gas deliveries actually is playing against them. Because some countries depend on those gas deliveries like central and southern europe. So i think a new solution will be found to us, but it will be the decision. No rush is g, e c, f has 70 percent of the reserves of natural gas. And oil leak produced is about 40 percent. So in going forward, what is the plan, as of russia, as the g. C, a. How are you going to boost global output . And is this a move towards teen the green Energy Circle to see what it is . And youre in by 4 door to the gcs. Percentage is very high globally in gas deliveries on the international market. As for the future, if we look forward, we understand that moving to green energy is a gradual process. Well measured and replacing gas with the Renewables Wont happen soon. Because whats important is not to fight with fuel varieties, but to reduce the emissions. This is the actual task at hand. The rest is politics and its not predictable. The americans may stop granting licenses to l. N, g deliveries. Its all politics. And i think the african countries, including countries of Northern Africa who have lots reserves. The future lies not only in deliveries to europe, but they also have a chance to develop their own economies. Ameritron defense expo in doha is highlighting the expansion of the wills forces. Orders are on the rise as military 6 to expand the inventories and equip themselves with the Cost Effective weapons and ships of proven designs. Allens good top of this has more dix Maritime Defense expo health and contacts whos some of the biggest names in naval ship, building a few largest in the Accounting Firms and comparing the largest ship manufacturing europe, and the 4th largest in the world. It is seen orders from navy school, but its as far as warships in quite a month. Think and kerry is the most global ship yard around the world. We have 20 ship is around the water. Weve done these many times. Is our charlie, our height is also p a by doing these, we manage to keep all the risk in involving this process on the control. So we can have actually a successful like transferred over know how to transfer the technology whenever we go around the world. Util. Build the warships, so they gyptian country and us navies, amongst others, and exports are continuing to. So having built 358 ships for 19 countries, business is booming from country already has a backlog of 24000000000. Im going to live at 864 ships by 2030. We have shipyards in the middle east, a parties in the states, or she goes in the United States in south america, youd offer different counties and the visa romania. And of course, thats why we are so keen not these properties creating added value in the different categories. Whatever we go to both defense joints have represented the expo, but by far, the biggest presence was from to kia its defense. Exports have risen by 27 percent just this last year to 5500000000. 00 as it works to make it so military industrial base. So sufficient. Its moved in domestic ship building programs to be particularly successful, as well as the textbooks of combat proofing drones, desktops for us to grow into. Yeah. So in the last few years, we see a real big expansion in the central ation and media. And also we see a lot of Business Development opportunities and thought acquirements in africa in general. Peoples defense spending is on the rise has been resolved themselves with effective small weapons navies around the world to expand, modernize the fleets ships here. Lets did both to tell the infrequency, jaime are in high demand. Theyre capable of humanitarian and military emissions. And is this flexibility that is driving global load . Is alex patropolis, which is 0 for counting of the cost. So now a flight ticket may seem affordable until travellers have paid for extra services among them. And luggage fees, which is a big money maker for add ons. And the 1st 9 months of 2023 american carry is connected within 5400000000. 00 and back charges carriers. And i would expect it to break and even more revenue luggage fees the heading. Rec, what highs and that could push shop traveling costs, you know, today lines round trip ticket from then which would doubtless is advertised for 91. 00 in late march. The checking one bag at the airport. Both ways will cost an additional 80. 00 that is nearly as much as the slide American Airlines and jet blue a ways also announced fee increases this yeah, well join now from doha by alex montana. Is alex is an aviation analyst and consultant and good to see you. Alex y luggage fees heading record highs. And how much of that has to do with the fact that airlines dont pay the same, on the revenues from taxes, you know, from those Additional Services as they do on ss themselves as well as mentioned, luggage fees have always been a huge money maker. The airlines and in the abs inspector, but specifically with commercial airlines, the Profit Margins are incredibly slim. What an add on is actually making pop that is next to nothing somewhere between 11. 00 and 17. 00 on average. So where it really can caching is on everything. And still every revenue style, so its on those cheap reservations. Its on the luggage allowance and so on his own. And these, these fads for specifically the fees, but baggage having been increased in quite a while. It is the 1st significant increase for most of the airlines is the fast ever increased since around 2018. So it was kind of a game of whos going to move fast and this is what we saw earlier this year just yeah, last month. United in American Airlines kind of increasing those fees within a few days of each other. Yeah. And now that heard in while, as it is called, the copycat industry isnt that we have seen them increase in the us. Is it happening elsewhere to it hasnt actually called on to other markets just yet. And that is because the usa, the extra market ways operates as a whole other world in so many different aspects of commercial at travel when comparing to europe, africa, nations. So, so its that something that we are definitely seeing predominantly only across north america. Well see over the coming months if those that european outlines have been paying attention and do you think that best fish should travel as pay those extra fees, especially on the Budget Airlines to . Well, this is the big debate, isnt it . Because we have a chief executive from the likes of southwest deadlines, where it is still free to check in up to 2 bags. They all family, the outlier in that, and they are the, you know, the, the positive, friendly, happy line. We have the cheese, theyre mentioning that it doesnt cost us any way, did that. You followed us dollars or 40 us dollars to handle and checking your bag, just like that for you, if that pain plus a job paying. And so they hope that you know, they could remain the island of choice, my having a, having a smooth or experienced by having you check it in for free for add lines. They have losses that they all come back from. They are now profitable for the most part, but its that, you know, coby, it was a difficult time for them that wasnt too long ago. So their us do their off to a, you know, areas they need to be bringing back those high a fees in order to compensate. But lets just forgive and you know, the Us Transportation Department is proposing a rule of acquiring airlines to disclose all of this additional fees, including the baggage, the 1st time. And if it is displayed, saying that it will help travelers make more informed decisions. Do you think that that should happen or i think this is not really an issue if im on as my personal opinion is that you as the fat pain passenger, i know being cheated out of you know, you will not unaware that its going to cost to dollars, yes, it might not be on the 1st page when youre focusing on the bed, but its definitely there on the 2nd page off for a couple of clicks that i dont really see this as, as the big issue. I think it would be far more. But perhaps sensible to look at may be placing a cap on these fees, should they start to be getting a little bit out of control . Were not in that torture yet. Ill be clear. But of course, as we say when one makes that move and the other starts, although i dont think its going to be another 5 years of these fees. I think were going to be seeing these fees climb up as the years continue. Alex much as thank you for your time is always a thank you. And that is, i show for this week and get in touch with us on ex, formerly known as to us to on, at those per annum. And do use the hash tag h a c, t c. When you do or drop as an e mail counting the cost, thats just the dot net as a address. For this move for you online, it would just be a dot com slash ccc. Thatll take you straight to our page, which has individual report links and, and time episode for you to catch up on. And thats it. So this edition accounts in the cost on elizabeth put on them from the whole team. Thank you for joining us. The news on algebra as the from dawn to dusk, be nice to miss you as relentless on a mothers toils knows no rest. Her determination fused by love alone. She labours for skunked reward, enjoying every hardship gives a hope of securing life, changing, searching for daughter to an easiest fields over cities. A portrait of devotion with this on a just stripped from it switches and left with a toxic legacy. 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