If You Tax the Wealthy, Will They Stop Spending?

Dec. 21 (Bloomberg) -- Guggenheim Securities' Anne Mathias and Center for Economic Policy Research's Nicole Woo discuss the effects of taxing the rich. They speak with Trish Regan on Bloomberg Television's "Street Smart." (Source: Bloomberg)
China’s Official Factory Gauge Shrinks
37:46 - China’s Purchasing Managers’ Index fell to the lowest reading in three years as monetary easing failed to revive old growth drivers weighed by overcapacity and sliding prices. The figure was 49.7 for August, matching the median estimate in a Bloomberg survey and down from 50 in July. Meanwhile, Australia left interest rates unchanged as a declining currency cushions the impact of lower commodity prices and a weaker outlook for its key trading partner.
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