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Taxes on Wealth

Taxes on wealth or simply wealth tax is the tax levied on the value of wealth owned by a person. As the term ‘wealth’ carries with it a broader meaning, generally capital transfer taxes (which include inheritance tax and gift tax), property tax, and capital gains taxes are some times invariably referred to as wealth taxes.

Taxes on wealth were first introduced in Europe, aimed at reducing the growing wealth gap between the rich and the poor. It was meant to raise revenue for addressing pressing social requirements and also to discourage the attitude towards amassing wealth.

Still, in countries across the world, majority of wealth is concentrated at the hands of fairly small number of people. Ideally taxes on wealth cuts down the disparities in wealth rather than the income, which actually is the determinant factor on how the scales are weighed for the next generations.

Also, taxes on wealth can bring about vertical as well as horizontal equity, which income tax fails to achieve. For example, neither a wealthy person nor a poor one with no income will pay income tax. But the wealthy ones need to cough up wealth tax while the poor need not.

But, as critics puts down, taxes on wealth can actually cause inefficiency by discouraging wealth producing economic initiatives. Also, the revenue generated by imposing taxes on wealth may not be that productive as the theory suggests. The wealthiest form only a small percentage of the population and by nature they are adept at avoiding taxes while remaining themselves within the contours of law.

Taxes on wealth comes in two forms – the capital transfer taxes that are levied when wealth change hands and the annual wealth taxes. Capital transfer taxes can occur either at death – also called inheritance tax – or via donation (gift tax). Some people tend to believe that Capital Gains tax to be a form of taxes on wealth. But in realty, capital gains tax is the taxation on the income obtained on capital and not a wealth tax on the capital.

Ideally, taxes on wealth should not be severe on the tax payers even if they have lots of wealth. Instead, after the minimum slab of no taxation, the taxes on wealth percentage should increase at increments, depending on the value of wealth in dollars. Such a fairer taxation not only increases the revenue but also goes a long way in bringing down the inequality aspect as well.

But with intelligent investing, one can save a lot that other wise goes as wealth tax. But that requires careful thought and advanced planning. May be a tax professional could help one in this regard.

Parents and Newborns

One must admit that becoming a parent is one of the greatest joys that life can bring to a person. Some believe that having a child is definitely the greatest gift that one can ever receive in his/her entire lifetime.

Some women can’t wait to become mothers. One can just imagine the glee that these young women feel when they find out that she and her husband are bound to be parents in a few month’s time! Surely, having a child is as exciting as it can get. You have to wait for nine months before the child comes out of his/her mother’s womb.

A person can’t just get enough of a newborn baby. Whether the baby is his/her’s, a person will always wish to hold the baby’s tiny hands. You will see that people will crowd over the newborn. You will hear all the gibberish words that this planet has to offer. It’s as if the baby can understand such language. More often than not, babies will smile or even giggle when they hear someone talking to them in gibberish. Given this scenario, the person talking gibberish to the baby can’t help but feel a warm sense of pride because he/she was able to make the baby smile or giggle. A baby’s laughter can get infectious. Actually, just looking at a baby’s or a child’s angelic face is enough to make one’s troubles disappear even for a short while.

However, raising an infant is not always about fun. There are plenty of bumps that must be taken care of in the road of parenthood. Many sleepless nights will be experienced. You will wake up suddenly to sounds of your baby’s shrill cry. The baby must have wet himself/herself. It’s also possible that the baby had a bad dream. Also, the baby must be feeling cold, hot, irritated, etc.

The next issue to be discussed is the baby’s health. The infant’s body systems are not quite developed as those of adults. Therefore, babies get sick most of the time. A parent feels alarmed when he/she finds out that his/her baby is suffering from a fever. Who doesn’t? Babies are such wonderful creatures. They look so angelic, helpless, and innocent. One can’t help but feel instantly protective of the babies. As much as possible, one wants everything to feel right for the little infant.

A baby can get to be quite a bundle if he/she is spoiled as an infant. He/she, even as a toddler, would like to get things done his/her way. It is not unusual for children to throw tantrums every now and then. You would too if you know that the people around you will scurry towards you to give you what you want. There’s nothing wrong with giving a child what he/she wants. However, one must take care not to go overboard. It’s possible that some children will take advantage of your weakness — seeing them cry.

You will learn that giving in to each and every whim of the child will lead to headaches. The child will always have tantrums if he/she doesn’t get what he/she wants. The child might think that he/she has power over you. Avoid these kinds of scenarios. Do show your child who the boss is. As much as possible don’t hit them. Doing such an act will lead to further complications. Talk to them in a kind but firm voice. This will tell them that you are not mad at them. You are merely explaining what they’ve done wrong. You can even enter a compromise with them. It all depends on how you approach the subject matter at hand.

Enjoying your baby is the greatest thing a parent can ever experience. You will love it just as much as I have and in no time you will want to have another!

8 Phases of Development

It is important that one learn the different stages of child development before he/she can fully understand his/her child. According to Dr. Erik Erikson, a psychiatrist, there are 8 Phases of Development. The development stages are concerned with the emotional and social development of children, adolescents, and adults. We have summarized each phase and as a reference below you will find an outline of each phase, plus a description of what it entails.

Phase 1 – Trust vs Mistrust

This is actually the first phase of Dr. Erikson’s study. This takes place during the first 2 years of the infant’s life. It is important the infant feel loved and nurtured in this stage. The child will become a trusting person if he/she is treated right. Otherwise, he/she will have a hard time trusting those around him/her.

Phase 2 – Autonomy vs Shame

The second phase starts when a child is between two to four years old. Children who are treated well by their parents will show qualities of autonomy and pride. However, autonomy must not be confused with independence. Children who do not overcome the Autonomy vs Shame crisis will have bouts of shame or embarrassment. He/she may have a difficult time performing some tasks — a dance or song that is asked of him/her. He/she will feel that he/she will be unable to perform well. Hence, the feeling of shame arises.

Phase 3 – Initiative vs Guilt

This occurs during the “play age” or preschool years. The child discovers that cooperation is vital. The child also learns to improve his/her skills. Also, realizes how to be a good leader and a good follower. However, a child who has guilt running in his/her veins will be fearful. He/she will also lack imagination. Furthermore, the child will be dependent on his/her parents.

Phase 4 – Industry vs Inferiority

This stage happens during the junior years in high school of the child. The child who learns industry in this stage is sure to relate to his/her peers while abiding by the rules. The child will also learn the significance of teamwork. On the other hand, the child who is distrustful and shameful will, unfortunately, feel inferior to those around him/her.

Phase 5 – Identity vs Identity Diffusion

Adolescents experience this 5th psychosocial crisis. Adolescents, by this time, should be capable of identifying the type of person they truly are. In the later years of adolescence, the child will also recognize his/her sexual identity. He/she will not doubt what his/her gender is.

Phase 6 – Intimacy vs Isolation

This happens when young adults learn to love. Either the person makes a relationship worthy of long lasting friendship or one that can even lead to marriage.

Phase 7 – Generativity vs Self Absorption

The seventh stage occurs when the individual learns to work creatively and productively. This can also be seen at the office or at one’s home — during parenthood and marriage.

Phase 8 – Integrity vs Despair

Integrity is achieved by the individual if all of the previous seven crises were successfully settled. He/she can apply everything that he/she has learned from the previous seven stages of development. However, one will feel despair if most of the seven crises were not met satisfactorily.

Muscle Cramps Explained & Prevented

What is a Muscle Cramp (Charlie Horse)?

A muscle cramp is a painful situation where your muscle involuntarily contracts. They are also known as Charlie Horses or muscle spasms. Many people tend to get them while running or even during late night sleeping.

Symptoms of a Muscle Cramp

In most cases the muscle will feel tight and cause extreme pain. Movement or flexing of the muscle hurts and even lightly touching it can induce more pain.

What are the causes and risks of the condition?

Inflexible muscles are more likely to cramp than flexible muscles. This is why it is important to stretch before extreme exercise as cramps not only hit during exercise but even after — i.e. the dreaded night time calf cramp. Overexertion and muscle fatigue also contribute to cramping. Excess sweating or dehydration can deplete minerals in the body. These minerals are important for good muscle function and include sodium, potassium, calcium, magnesium, and phosphorus. Medications like diuretics or water pills can also lead to cramping due to loss of sodium and potassium.

Other situations can contribute to muscle cramping.

Individuals with one leg longer than the other are more prone to cramps.

Running with a high level of rolling in of the foot or too much rolling out of the foot.

Strain on the calf muscles such as wearing high heel shoes can cause cramping.

Poor blood supply to leg muscles caused by smoking and atherosclerosis (hardening of the arteries) can cause a type of calf pain called claudication.

The common muscle cramp lasts a few seconds to minutes and does not carry any risk of other long-term medical problems.

What can be done to prevent muscle cramps?

Improve flexibility by stretching you calves and other leg muscles. This will help prevent the condition and can also help prevent injuries during exercise as well as other strains on muscles.

If you get night calf craps, you should:

Sleep on you sides.
Sleep with toes and feet pointed.
Leave sheets and blankets loose as bending the toes down can cause a cramp.
Reduce the risk of mineral deficiencies by eating fruits and vegetables during the day.
Stay hydrated! Drink plenty of water before, during and after exercise to prevent dehydration, especially during hot weather.
Comfortable shoes with good arch support to helps prevent cramps and can even prevent shin splints.

What do I do during a muscle CRAMP!?

Stretch it out! Grasp the muscle. With your other hand pull back on your toes and foot.
Point toes upward to help relieve the spasm.
Walking can help. Walk about with all or the majority of your body weight on your heels.
Use ice packs for severe cases. This reduces blood flow to the muscles and relaxes them.
If exercising, drink water to prevent or correct dehydration.

What happens after the cramp is gone?

Once the cramp has been remedied you can normally go back to doing the activity again. If the muscle cramping is happening repeatedly, it is advised that the individual should see a doctor and get a professional opinion.

The Magic of Puzzles and Board Games

Set it on the table, lay down the pieces and roll the dice. Board games are one of the most enchanting games in the world since time immemorial. Kingdoms and dynasties have participated in these games of mental strategy involving only a few specialized pieces and a flat picture board. People have in fact made careers out of playing chess. A man named Charles Darrow even became a millionaire when he invented the ever-fascinating game of Monopoly! Board games are great as family entertainment and as part of tournaments. They simulate the real world and also test your mental skill and strategy.

Here’s a list of various types of board games and puzzles.

Two-Player Abstract Games

These games may either be classic or modern. The most popular classic abstract games are the Chess and Checkers.

Chess is a direct descendant of an ancient Indian game called Chaturanga. There are 64 alternate squares and 8 ranks; both players possess a set of pawns, rooks, horses, bishops, a King and a Queen. The goal of the game is to checkmate the opponent’s King so that there is no other way to escape and the game is over. The funny thing about chess is that though there are only 64 squares in the whole expanse of the board, the number of possible outcomes out of a particular game is greater than all the atoms in this universe combined!

Draughts, also known as Checkers (with many variations such as the Russian, Brazilian and Spanish pool checkers) is played by jumping one piece over another until the opponent’s pieces have been captured out. Players can only move diagonally on the dark squares. The object of the game is to capture as many pieces belonging to the opponents until there is no more pieces left to make a move.

The Amazons is like the Go game and looks a lot like Chess but is played in a wholly different way. The outcome of the game depends on which player has the last move. It is because the object of the game is to shoot as many arrows so that the opponent’s (Amazon) queen will not be able to move and the territory will either enlarge or be confined to a small space. The player with the biggest territory usually wins the game.

Havannah is another modern strategy game that is similar to TwixT and Hex (Connection Games). It is played on a hexagonal board with stones. The object of the game here is to be able to complete shapes of winning combinations in the form of a ring, a fork or a bridge.

The Three Musketeers is a fun game invented by Haar Hoolim. Players can only move the pieces orthogonally on empty spaces. The goal of this game is that in order for the opponent to win he must force the Three Musketeers to fall on the same straight row. For the Musketeers to win they must still be able to move when there is an empty space before them unoccupied by the opponent and they are still not standing on the same row altogether.

Backgammon is a famous game of chance that was thought to be the oldest game recorded in the history of the world (then known by the ancient Romans as Tabula). Today Backgammon is being played as a gambling game, sometimes even in casinos (Chouettes). The object of Backgammon is to be the first to get the checkers or “men” off the board. Players must roll the dice and move the fifteen checkers on the 24 points (the triangles) past their enemy’s checkers. Backgammon is a simple game that entails strategy.

Puzzles

If you like brain teasers then puzzles are the perfect games for you. Puzzles are made to test your logic and mathematical skills. They have been enjoyed by people thousands of years ago and hundreds of variations have been invented today. Some of the most popular ones are the Jigsaw and the Whodunit.

Many find jigsaw puzzles a great hobby and a material for collection. Behind every completion of a jigsaw puzzle is a picture. Each piece of the puzzle is peculiar in shape and must interlock another piece. Although the completed pictures in most jigsaw puzzles are scenes from nature and children’s fairy tales, some have even carved porn star images out of them!

Crosswords are puzzles that can be seen anywhere. Some connoisseurs have devised the most elaborate crosswords and have published books that contain the most possible answers to the world’s most difficult crossword clues. The object of a crossword puzzle is to fill in the empty squares with a designated clue number and the words may either be spelled Across or Down.

Whodunits were popularized by many British mystery writers such as Agatha Christie, Dorothy Sayers and Nicholas Blake but had their equivalent in the Unites States in the form of crime fiction and film noirs. A Whodunit is a mystery/detective story in which the author provides clues for the reader to figure out who the perpetrator of the crime is in the end. Sherlock Holmes (Arthur Conan Doyle) is a popular Whodunit figure in literary history.

One of my favorites is the puzzle of the Rubik’s Cube. This is an utterly simple game but can be very deceitful. It may be prearranged as a block made of 26 sub-cubes of different colors that can be rotated on from a kernel (axis) inside of the cube. The goal is to keep on rotating the cubes until each facet which is comprised of nine sub-cubes is of the same color. Because of the fascination of many people on it the Rubik’s Cube is considered to be the biggest-selling puzzle toy in the world.

The benefits of playing puzzles and board games are countless. Whatever kind of game you wish to play, it’s a sure sign that you’re not only enjoying, but you’re honing your mental strategy and logical skills as well.