Effect of tax on Vietnamese hangers

Introduction The U.S. government is very clear on the affirmative final determination on antidumping duty order on steel wire garment hangers from Vietnam. Although the legislation became effective on February 5, 2013, the act was published on December 26, 2012. The products affected include steel wire garment hangers that are fabricated, galvanized, painted, coated with epoxy or latex, and those fashioned with paper covers among others.Advertising We will write a custom essay sample on Effect of tax on Vietnamese hangers specifically for you for only $16.05 $11/page Learn More This action was taken because the government of Vietnam had highly subsidized the manufacturing process of hangers thereby making the hangers from Vietnam cheap and affordable as compared to the products manufactured from the local market in U.S. The U.S. government felt that Vietnam was dumping her hangers in the U.S. market. Effects of the Duty Six months before the publication of the affirmative final determination, the government had imposed temporary duties on the affected products (CNN 1). The publication of the act means that the duties of one hundred and eighty-seven percent imposed on the products are permanent from the effective date i.e. February 5, 2013. It is clear that Vietnam is the top exporter of wire hangers. However, the antidumping duties did not affect the wooden hangers that are manufactured by Vietnam in large amounts (CNN 1). The effects of the duty have already been felt in the U.S. and other parts of the world. To begin with, the duty imposed on the hangers forced the wholesale prices of the hangers to rise. Dry cleaning companies experienced a ten to fifteen percent increase in the price of the affected goods. For instance, initially, forty dollars would help a businessperson acquire five hundred hangers. However, that has changed since the same amount of money gives the businessperson half the amount of goods. The drycleaners effe ctively passed over the same to the consumers thereby increasing the overall charge on consumers by an average margin of two percent. This has seen customers reduce the amount they spent on dry cleaning. The companies currently receive half the total revenue they used to receive due to reduced quantity of work. The sharp increase in prices has forced some dry cleaning companies to close down. This could also be attributed to the fact that some manufacturing companies have diverted their businesses to other business lines (O’Brien 57). This hurts the U.S. economy since job opportunities are lost as they are created in other markets such as Cambodia.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The people who were working in the firms have to look for work elsewhere. In the process, the government was losing revenue through taxes. High prices have ultimately reduced profits made by dry cleaning firms to a level of making just enough money to pay the recurrent bills and rent. When people get more income, they are likely to spend more through their disposable income or the amount kept aside for investment. The government encourages investments from the private sector. For instance, when an entrepreneur quits a government job to begin private business, the merits accrued from such an action are not enjoyed when they close down following high prices arising from government tax. The impact of the duties is clearly indicated when beneficial projects are no longer beneficial. Some dry cleaning shops have closed down yet the remaining ones do not feel the positive impact. Conclusion The analysis of this duty shows that the only winners are the foreign governments such as Cambodia who have benefited when other manufacturing companies relocated. Other countries other than the U.S. received new investors hence began to enjoy the advantages that accompanied the U.S. affir mative final determination. The other groups are all losers including the governments U.S., and Vietnam, the dry cleaning companies, the entrepreneurs, and the employees. Works Cited CNN, Money. Trade penalties squeeze US dry cleaners, New York: CNN Money journal, 2012. Print. O’Brien, Hubbart, Macroeconomics, New York: Pearson Publishers, 2012. Print. This essay on Effect of tax on Vietnamese hangers was written and submitted by user Johnny Boyer to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Emilie Du Chatlet Essays - Fellows Of The Royal Society, Free Essays

Emilie Du Chatlet Essays - Fellows Of The Royal Society, Free Essays Emilie Du Chatlet EMILIE DU CHATLET Born in Paris on December 17, 1706, Emilie du Chatlet grew up in a household where the art of courting was the only way one could recieve a place in society. During her early childhood, Emilie began to show great improvement in the area of academics that soon she was able to convince her father that she needed attention. She studied Latin, Italian and English. She also studied Tasso, Virgil, Milton and other great scholars. In spite of her talents in the area of languages, her true love was mathematics. Emilie's cleverness was outstanding in other areas as well. At the age of nineteen she married a man named Marquis du Chatelet. Emilie had conquered the heart of Voltaire, one of most intriguing and brilliant scholars of this time. As Voltaire notes We long employed all our attention and powers upon Leibniz and Newton; Mme du Chatelet attached herself first to Leibniz, and explained one part of his system in a book exceedingly well written, entitled Institutions de physique. However she soon abandoned the work of Leibniz and applied herself to the discoveries of the great Newton. She was extremely successful in translating his whole book on the principals of mathematics into French. The years Emilie spent with Voltaire at Cirey were some of the most productive years of her life. When there were no guests both of them remained tied to their desks. In the spring of 1748, Emilie met and fell in love with the Marquis de Saint-Lambert, a courtier and very minor poet. This affair, however, did not destroy her friendship with Voltaire. Even when he found out that she was carrying Saint-Lambert's child, Voltaire was there to support her. With the help of Voltaire and Saint-Lambert, she was able to convince her husband that it was his child she was carrying. In early September of 1749, she gave birth to a baby girl. As Voltaire describes it: The little girl arrives while her mother was at her writing desk, scribbling some Newtonian theories, and the newly born baby was placed temporarily on a quarto volume of geometry, while her mother gathered together her papers and was put to bed. On September 10, 1749 she died suddenly at the age of 43. As many authors note, during the course of her short life, Emilie was a truly unique woman and scholar. Among her greatest achievements were her Institutions du physique and the translation of Newton's Principia, which was published after her death along with a Preface historique by Voltaire. Emilie du Chatelet was one of many women whose contributions have helped shape the course of mathematics. Bibliography TITLE: Mme. Du Chatlet PUBLISHER: Berg Publishers, Incorporated PUB. DATE: March 1987 TITLE: ADA Byron Lovelace PUBLISHER: Silver Burdett Press PUB. DATE: July 1994 TITLE: Emmy Noether PUBLISHER: Birkhauser Boston PUB. DATE: October 1980 TITLE: The Great Mathematicians PUBLISHER: Barnes and Noble Books PUB. DATE: May 1993