In a modern economy, it is tempting to believe that wealth and income are the product of an enterprising individual. But both wealth and income ultimately come from two sources: natural resources and work. Some part of the labor input is cumulative and results in things like capital and technology, which are meaningful contributors to …
Continue reading “Guam’s working families deserve a fair share of the wealth they create”
The current legislature cut the Business Privilege Tax (BPT) by 0.5%, costing the government about $40, for this fiscal year. If the law does not change, the BPT will be cut a further 0.5%, which means revenue will have decreased about $80 million. Eliminating that much revenue from the government of Guam sacrifices good fiscal …
Continue reading “Restore the BPT to fund urgent priorities”
The military buildup on Guam is a fact of life that cannot be ignored. It has brought jobs, mostly for military contractors, but it has also raised the cost of living for working people. It has benefited the few at the expense of the many. Landlords are doing better than they otherwise might have been, …
The cost of living in Guam has surged, but wages have barely budged. Prices, measured by the Consumer Price Index (CPI), rose 6.4% from the third quarter of 2023 to the third quarter of 2024, according to the latest figures from Guam’s Bureau of Statistics and Plans. What $100 could buy just a year ago …
Continue reading “The cost of living is up, so why aren’t wages?”
