Inspiring News Articles
Excerpts of Highly Inspiring News Articles in Major Media
Below are one-paragraph excerpts of highly inspiring news articles from the major media. Links are provided to the original inspiring news articles on their media websites. If any link fails, read this webpage. The most inspiring news articles are listed first. You can also explore the news articles listed by order of the date posted. For an abundance of other highly inspiring material, see our Inspiring Resources page. May these inspiring news articles inspire us to find ever more ways to love and support each other and all around us to be the very best we can be.
President Biden and the other national leaders gathered for the Group of 20 summit formally endorsed a new global minimum tax on Saturday, capping months of negotiations over the groundbreaking tax accord. The new global minimum tax of 15 percent aims to reverse the decades-long decline in tax rates on corporations across the world, a trend experts say has deprived governments of revenue to fund social spending programs. The deal is a key achievement for Treasury Secretary Janet Yellen, who made an international floor on corporate taxes among the top priorities of her tenure and pushed forcefully for swift action on a deal. Nearly 140 countries representing more than 90 percent of total global economic output have endorsed the deal. The minimum tax will be coupled with a broader change to global taxation intended to prevent countries and companies from undercutting the new floor. Under the pact, corporations trying to evade taxation by shifting profits to low-tax countries will face a "top-up" tax, which would require them to pay the difference between the tax haven's tax rate and the 15 percent minimum tax rate of the companies where they are headquartered. Supporters of the deal are also optimistic companies will not move to relocate their headquarters abroad, in part because so much of the world has committed to the new minimum. Treasury officials have said new "enforcement provisions" will impose tax penalties based in countries refusing to join the deal.
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It was six years ago when CEO Dan Price raised the salary of everyone at his Seattle-based credit card processing company Gravity Payments to at least $70,000 a year. Price slashed his own salary by $1 million to be able to give his employees a pay raise. He was hailed a hero by some and met with predictions of bankruptcy from his critics. But that has not happened; instead, the company is thriving. "So you've almost doubled the number of employees?" CBS News' Carter Evans asked. "Yeah," Price replied. He said his company has tripled and he is still paying his employees $70,000 a year. "How much do you make?" asked Evans. "I make $70,000 a year," Price replied. To pay his own bills, Price downsized his life, sold a second home he owned, and tapped into his savings. According to the Economic Policy Institute, average CEO compensation is 320 times more than the salaries of their typical workers. "This shows that isn't the only way for a company to be successful and profitable," Hafenbrack said. "Do you pay what you can get away with? Or do you pay what you think is ideal, or reasonable, or fair?" Price said despite the success his company has had with the policy, he wishes other companies would follow suit. Bigger paychecks have lead to fiercely loyal employees. "Our turnover rate was cut in half, so when you have employees staying twice as long, their knowledge of how to help our customers skyrocketed over time and that's really what paid for the raise more so than my pay cut," said Price.
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