UC Davis Academic Calendar Essay Example

UC Davis Academic Calendar Paper Fall 2017 Instructional Days 50 Quarter Begins Mon 9/25 Instructional Start-Up Mon 9/25 Instruction Begins Wed 9/27 Veterans Day Holiday Fri 11/10 Thanksgiving Holiday Thu-Fri 11/23-24 Instruction Ends Fri 12/8 Finals Begin/End Mon-Fri 12/11-15 Quarter Ends Fri 12/15 Commencement Sa 12/16 Winter Holiday Fri, Mon 12/22, 12/25 New Years Holiday Fri, Mon 12/29, 1/1 Winter 2018 Instructional Days 48 Quarter Begins Fri 1/5 Instructional Start-Up Fri 1/5 Instruction Begins Mon 1/8 Martin Luther King, Jr. Holiday Mon 1/15 Presidents Day Holiday Mon 2/19 Instruction Ends Fri 3/16 Finals Begin/End Mon-Fri 3/19-23 Quarter Ends Fri 3/23 Commencement N/A Spring 2018 Instructional Days 48 Days between Winter Spring 8 Quarter Begins Thu 3/29 Instructional Start-Up Thu 3/29 Cesar Chavez Holiday Fri 3/30 Instruction Begins Mon 4/2 Memorial Day Holiday Mon 5/28 Instruction Ends Thu 6/7 Finals Begin/End Fri, Mon-Thu 6/8, 11-14 Quarter Ends Thu 6/14 Commencement Fri-Su 6/15-17 Summer 2018 Session I 6/25-8/3 Independence Day Holiday 7/4 Session II 8/6-9/14 Labor Day Holiday 9/3

Free Essays on Social Security

Summary of Social Security Articles The article entitled â€Å"The Boomers Queasy Future,† dealt with the fact that social security will be running out soon so government officials are looking for ways to remedy this problem. Because the baby boom generation is so big there is a problem with getting them the necessary social security for when they retire. Interest from the trust funds that support social security will be exhausted by the year 2032. One way would be to deny the upper-class their right to Medicare. This would free up some government money for such important things as social security. Raising taxes is another way. However, people would not take too kindly to such repercussions. Today the young generations pay for the older generation so that they can retire. One way to remedy this problem is if everyone paid for their own social security. Another way to solve this inevitable problem is to invest people’s trust funds into the stock market. Another way would be to cut pay roll taxes and put them towards IRA’s or individual retirement accounts. No withdrawals from these accounts could be made until the person reaches 62. However, people do not trust the stock market. The stock market could fluctuate and the other problem is that some people will not be sure what the correct stocks to pick are. People are also strongly opposed to raising the retirement age and cutting benefits such as health care. Nowadays, young people will have to pay for their elder’s retirement as well as pay for their own retirement. Just about the only way to resolve this problem is to establish a Social Security Reserve Board which would invest trust funds into private stocks and bonds. The second article entitled â€Å"Straight Talk on Social Security† also deals with the problems of diminishing retirement funds. President Bush favors the idea of creating personal retirement accounts. Both Democrats and Republicans fav... Free Essays on Social Security Free Essays on Social Security Social Security â€Å"Social Security, public programs designed to provide income and services to individuals in the event of retirement, sickness, disability, death, or unemployment.† (Encarta online Encyclopedia) On June 8th 1934, Franklin D. Roosevelt announced to the nation his intentions to introduce a Social Security program. Roosevelt then brought in five members of his cabinet level officials to study the United States and its economic insecurity so that he could use that information to persuade congress with. This committee was called the Committee on Economic Security. They were responsible for developing and writing the report that would be given to congress so they could see a detailed legislative proposal. The report gave President Roosevelt what he needed to proceed with sending the bill to congress to be voted on. In January 1935 he introduced the bill to both the House of Representatives and the Senate at the same time. The bill was passed by a large majority in both houses. The Social Security Act was finally made a law in August 1935 by President Roosevelt. Along with this act there were several provisions for general welfare. But the Act created a social insuranc e program that would pay retired workers, 65 years of age or older a continuing income after retirement. "We can never insure one hundred percent of the population against one hundred percent of the hazards and vicissitudes of life, but we have tried to frame a law which will give some measure of protection to the average citizen and to his family against the loss of a job and against poverty-ridden old age." President Roosevelt upon signing Social Security Act. The Social Security program has never been a flawless one. Since the introduction of the program in 1935 it has been modified more than 20 times by major amendments. Still to this day there are struggles within this system. This program still hasn’t achieved everything that... Free Essays on Social Security Most of the problems of the United states are related to the economy. One of the major issues facing the country today is social security. The United States was one of the last major industrialized nations to establish a social security system. In 1911, Wisconsin passed the first state workers compensation law to be held constitutional. At that time, most Americans believed the government should not have to care for the aged, disabled or needy. But such attitudes changed during the Great Depression in the 1930's. In 1935, Congress passed the Social Security Act. This law became the basis of the U.S. social insurance system. It provided cash benefits to only retired workers in commerce or industry. In 1939, Congress amended the act to benefit and dependent children of retired workers and widows and children of deceased workers . In 1950, the act began to cover many farm and domestic workers, non professional self employed workers, and many state and municipal employees. Coverage became nearly universal in 1956, when lawyers and other professional workers came under the system. Social security is a government program that helps workers and retired workers and their families achieve a degree of economic security. Social security also called social insurance (Robertson p. 33), provides cash payments to help replace income lost as a result of retirement, unemployment, disability, or death. The program also helps pay the cost of medical care for people age 65 or older and for some disabled workers. About one-sixth of the people in the United States receive social security benefits. People become eligible to receive benefits by working in a certain period in a job covered by social security. Employers and workers finance the program through payroll taxes. Participation in the social security system is required for about 95 percent of all U.S. workers. Social security d... Free Essays on Social Security Summary of Social Security Articles The article entitled â€Å"The Boomers Queasy Future,† dealt with the fact that social security will be running out soon so government officials are looking for ways to remedy this problem. Because the baby boom generation is so big there is a problem with getting them the necessary social security for when they retire. Interest from the trust funds that support social security will be exhausted by the year 2032. One way would be to deny the upper-class their right to Medicare. This would free up some government money for such important things as social security. Raising taxes is another way. However, people would not take too kindly to such repercussions. Today the young generations pay for the older generation so that they can retire. One way to remedy this problem is if everyone paid for their own social security. Another way to solve this inevitable problem is to invest people’s trust funds into the stock market. Another way would be to cut pay roll taxes and put them towards IRA’s or individual retirement accounts. No withdrawals from these accounts could be made until the person reaches 62. However, people do not trust the stock market. The stock market could fluctuate and the other problem is that some people will not be sure what the correct stocks to pick are. People are also strongly opposed to raising the retirement age and cutting benefits such as health care. Nowadays, young people will have to pay for their elder’s retirement as well as pay for their own retirement. Just about the only way to resolve this problem is to establish a Social Security Reserve Board which would invest trust funds into private stocks and bonds. The second article entitled â€Å"Straight Talk on Social Security† also deals with the problems of diminishing retirement funds. President Bush favors the idea of creating personal retirement accounts. Both Democrats and Republicans fav...

Preposition Review ESL Lesson Plan

Preposition Review ESL Lesson Plan Prepositions are a challenge for almost all students. There are many reasons for this, not least of which is the fact that English has numerous phrasal verbs. In this case, theres little to do except to encourage consistency and the ability to listen carefully to mistakes made. In any case, there are a few activities teachers can undertake to help students learn basic differences. Aim: Develop recognition of similar preposition use through contrast in written exercise, review of prepositionsActivity: Discussion of similar prepositions followed by a written exerciseLevel: Intermediate Outline Take a few objects into the class, such as a model car, an apple, etc. Use simple sentences to help the class understand the differences between in/into, out/out of, etc. using the propositions.Give the students some of the objects and encourage them to come up with their own sentences, especially focusing on the finer differences between the prepositions discussed.Discuss some of the basics using the preposition checklist below. Ask students to come up with exceptions such as in the morning, afternoon, and evening but at night.  Pass out the handout and ask students to get into pairs to work through the short exercise.Correct worksheet as a class and discuss problems  or questions.Repeat first activity to help reinforce learning. Preposition Checklist Use to with verbs of movement.  She drove to the store./He walked to the park.Use at with places within a city with verbs that do NOT express movement.  Ill meet you at the shopping mall./I like to relax at home on the weekend.Use on with surfaces, both horizontal and vertical.  Thats a beautiful picture on the wall./I like the vase on the table.Use into, out of and onto to express movement from one place to another.  She drove out of the garage./Please put the keys onto the table.  Use in with months, years, cities, states, and countries.  She lives in San Diego./I will see you in April.Use at with times of the day. Lets meet at five oclock./I want to begin the meeting at two.   A Strange Noise in the Night Worksheet It was late (at/in) night when I heard the noise. I got (out of/outside) bed and decided to investigate. First, I went (into/in) the living room and kitchen. Everything seemed to be OK in those rooms. Then I heard the noise (again/over). It was coming from (out/outside), so I put (on/off) my jacket, opened the door and went (into/out of) the backyard. Unfortunately, I had forgotten to (pick up/in) a flashlight on my way (inside/out) the door. It was a dark night and there was a light rain falling. I couldnt see much, so I kept stepping (into/onto) things in the yard. The sound continued to repeat and was coming (over/from) the area (on/in) the other side (to/of) the house. I slowly walked (through/around) the house to see what was making the noise. There was a small table (in/on) the porch which was (next/near) to the wall. (On/To) top of this table was a bowl with some rocks (into/inside). A small mouse was trying to get (out/above) and was moving the rocks (around/through) the bowl making the noise. It was very strange, but now I could go back (in/to) sleep!

Event Study for Efficient Market Hypothesis- Ex dividend Data Dissertation

Event Study for Efficient Market Hypothesis- Ex dividend Data - Dissertation Example Anomalies in the expression of the standard, tax centric theory of stock performances have been noted and described. While a tax centric hypothesis has explanatory power, this study examines evidence that there are additional forces of corporate governance, ownership concentration, and market capitalization that can adjust the performance of dividends independent of taxation. This study is a meta-analysis describing the Western standard for market forces pertaining to dividend taxation, on the assumption that stock prices must be adjusted to less than the amount of the dividend in order to compensate for taxation. Yet comparison with Asian markets introduces exceptions to that premise. Ultimately, more data is needed in order to falsify the tax centric hypothesis, however this principle is a subject to modification and interference by other market forces that influence the behaviors of investors and the performance of stocks. EVENT STUDY FOR EFFICIENT MARKET HYPOTHESIS – EX DI VIDEND DATA Table of Contents Abstract †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. p. 2 Introduction †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. p. 4 Methodology †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. p. 7 Chapter 1: Literature Review †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. p. 8 Chapter 2: Korean Markets †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. p. ... 31 Introduction Since the advent of tradable stocks on the national and international markets there has been a great deal of calculation and speculation in regards to the relationship between stock returns and dividend yields, both in the informal imagination of financial advisors, as well as in the formalized literature therein. Decades ago, popularize models of tax effects created the presumption that higher risk investments were necessary to compensate for returns that incurred greater taxes. Returns on investments should be risk adjusted with respect to stocks. This would compensate the investor for higher rates of taxation through higher dividend yields. This is necessary due to higher levels of taxation of dividend income as compared with capital gains income. (Brennan, 1970 p.417-427) To be specific, dividend income refers to profits yielded by a publicly traded corporation. In which case of course, the profits can be turned back into the business, to invest in facility enhanc ements, or possibly salaries – in which case they qualify as retained earnings. Or they can be distributed to shareholders who provided initial investments that contributed to the company's initial success. All in respect to the initial contribution based upon the value and number of shares purchased by a particular investor. (Sullivan and Sheffrin, 2003) these may take a variety of forms, such as currency cash dividends, Stock/scrip dividends that constitute additional shares of the Corporation, or property dividends, which can take a variety of forms including shares of another corporation or other assets or services. (Sullivan and Sheffrin, 2003) In many cases, taxation rates are higher for dividend income compared with capital gains. To be specific, we are referring to capital

Getting A Scholarship To Study Essay Example | Topics and Well Written Essays - 750 words

Getting A Scholarship To Study - Essay Example The scholarship not only served as a financial assistance but was also a unique opportunity to display my academic prowess. There is no doubt that scholarships are more prestigious and that they play important role in enhancing one’s resume and at the same time help one to pay for his or her education. Scholarship has provided me with enormous financial benefits as it has helped me to study without incurring substantial costs or not getting into debts. This helped me to concentrate on my studies and in the future, it will help me to focus on my career without thinking about repaying loans. By removing financial barriers, the scholarship made my career and education goals easier to obtain. In addition to financial and educational benefits, the scholarship provided me with career benefit. Earning a prestigious scholarship makes me a more attractive job candidate. Most employers understand the competitive nature of the scholarship and as such, they recognize scholarship as an acc omplishment. It demonstrates to potential employers that I have exceptional abilities in the academic realm. Listing scholarship in my resume helps me to stand out when searching for a job and possibly help me to achieve the career that I want. The scholarship also came with personal benefit; it made a significant difference regarding how much resources and time that I had during college to spend to enhance my knowledge and experience through internships, volunteer opportunities, and service-learning.

Impact Of Zakat In Society Theology Religion Essay

Impact Of Zakat In Society Theology Religion Essay The socket has been introduced in pre-colonial Malaysia .Before the British colonial Malaysia, the village in the country, as in other parts of the world developed through land settlement or colonization. One of the popular methods was the collective Pondok system, which was particularly common in the Muda Region of Kedah. By this system, a group of settlers would gather around and a person who is well -versed in Islamic Knowledge or who had already established himself as a religious teacher .After the they found a suitable place , they will build their Pondok (huts) around a Madras; a religious center for worship as well as teaching. In the case where the group has been established, they would invite a religious teacher from elsewhere to set up a Madras among them .This religious teacher was also the Imam of the community, in the sense that he led five prayers daily in the mosque or madsarah. The group of peasant will be going out to open land around the clusters of their Pondok, leaving their children to the teacher for religious education at day time. For those wives who are unable to work with their spouse in the land also will obtained religious instruction from the teacher. The peasants will receive religious at least one or twice a week and longer on Friday because it was a day of rest. They will spend more time in the mosque than the field. As an appreciation for the service provided by the teacher, the peasants usually will collectively clear a piece of land and cultivate if for the teacher. Slowly, as the land become more productive and the production level of each peasant family exceeds the nisab of 480 Gantang  [1]  for each harvesting; the peasant family would pay skate at their 10 % of the gross yield of the paddy. According to Afifudin, those early days all the skate form a specific group in the Pondok system would go to the teacher. If a group of 50 sacked paying peasants would contribute a minimum of 2400 Gantang each year .As time goes by, the wealth of the teacher can be accumulated. The teacher can use the socket for the expansion of Madras. During the colonial period in Malaysia especially Kelantan, Zakat was administered by imam, who is the local religious leader managed the Zakat collection and supervised by the division of inherited party. In order to finance the intensified activities, the state required imams to surrender part of the Zakat they collected at the village level. However, this method is only partially successful due to the British regime replaced Grahmans, the Islamic administration .The Grahman took charge of civil administration, he divested the imams of their civil function .which were transfer to the headman (ketua kampong). According to secret institution in Malaysia .During British Colonial Period, The segregation between religions, custom and temporal matters took place during this period. All Islamic and Malay customs related matters were administered by a special body known as Majlis Agama Islam Negeri (MAIN). Other than that, the rest came under the purview of the British civil and criminal law system (Matters associated with socket were administered by MAIN. Accordingly, in Zakat Satu Tinjauan, Kelantan was the first state to establish the body which later became a model to other Malay States. Under this model, the Imam (spiritual leader) has been empowered to govern skate related matters and a portion of Zakat collection would be delivered to the state government as a financial resource for Islamic affairs. That was how the administration of soaked developed until today which remain under the supervision of State Islamic Councils. After the independence of Malaysia, New Economic Policy has been introduced. The Zakat fund is use for investment purpose .In the early 1970s ,the minister of National and Rural Development, Encik Ghaffae Baba, who was also the chairman of Mara ,urged all the state Religious Councils to invested substantial portion of their money (mostly derived from the collection of Zakat) in Amanah Saham Mara .The objective is to eliminate the income gap between the ethnic group in Malaysia, especially the Muslim and Chinese. DEFINATION AND CONCEPT In the Islamic world, Muslims are required to give compulsory charity with determined purpose and established rules. This compulsory charity is known as Zakat. Zakat is one of the five fundamental pillars of Islam; it stands as the third pillar of Islam, just after Salat, the daily ritual prayer. Allah has mentioned Zakat about twenty times in the Holy Quran combined with Salat.   Basically, Zakat, or Zakat al-Mal, means obligatory alms or alms upon wealth. Alms is a gift of money, clothes or food, it is equivalent to charity and is a type of donation. Moreover, Zakat is literally means to be clear, to grow, to increase. It comes from the root letter za, kaf, ya which consists of few meanings, which are to be clean, to pay the obligatory charity, to be pure innocent, to be better in purity and to praise oneself, to justify. All of these have been included in the Quran and explain all of these things. In addition, Zakat can be defined as the transferring ownership of an amount of material wealth specified by the Lawgiver to a poor Muslim who is neither Hashimi nor their client, without material benefit returning to the giver in any way, for the sake of Allah Most High. [Tumurtashi, Tanwir al-Absar] Hashimi in here means those from the family of the Prophet (Allah bless him and give him peace). Besides, the term Zakat and sadaqah are often used interchangeably in the Quran and Sunnah, where sadaqah also means charity. However, Zakat refers to obligatory charity and sadaqah refers to voluntary charity. Zakat can be categorized into two types; there are Zakat-ul-Maal (Zakat on the wealth) and Zakat-ul-Fitr (Zakat on the individual). It is recommended to every Muslim to pay sadaqah after paid the two types of Zakat. Other than that, Allah has prescribed Zakat as a duty to Allah, upon every wealthy individual. Every Muslim also has nisab, which is a designated minimal amount of wealth for the full cycle of a lunar year must, as a matter of worship, satisfy the duty of Zakat-Charity. This charity is to cleanse or purify the individuals wealth. Unlike charity, Zakat can only give to Muslim; it is not valid to give Zakat to a non-Muslim. THE OBJECTIVE OF ZAKAT The primary objective of Zakat is to elevate the spirit of human being above the material acquisition. Consequently, Islam does not view the Zakat payer as a mere of sore of funds, but as a person who always needs purification and cleansing, both spiritually and materially .The prophet (p) summaries this purpose in the ayat ,sadaqa from heir wealth by which you might purify and cleanse them. Zakat, when paid out of submission to the command of Allah, is a mean of purifying the soul of a Muslim from greed and miserliness. The vices of selfishness and greed must be controlled in order for human beings to elevate their spirits, to succeed in their social relations in his life, and gain admittance to paradise .Allah Almighty says, Truly man is niggardly! (17:100) and But people are prone to selfish greed.)Zakat is a purifier that trains Muslims to give and spend selflessly .It liberates their souls from the love of wealth and slavery to materials gains and acquisitions. On top of that, Zakat is a mean of training Muslims on virtues of generosity as much as it is a means of purification from greed .Being paid in repetitive pattern year after year, regular Zakat as well as Zakat al-fitr train Muslims to give and spend for charitable purpose. The Quran describes believers as the righteous who have the virtue of spending for good reasons. The very second sura of the Quran begins, Alif .Lam .Mim.That is the Book with no doubt .In it is guidance for the god-fearing: those who believe in Unseen and establish the prayer and give of what we have provided for them.This exhortation is reiterated many times in the Quran ,such as Those who give away their wealth by night and by day ,secretly and openly ,: Those who give in times of both ease and hardship and The steadfast ,the truthful ,the obedient ,the givers ,and those who seek forgiveness before dawn. Also, once a person is trained to spend on public interests and to give to his brethren out of his own wealth, he is most likely to be freed from any urge to transgress on other peoples wealth and possessions. Besides that, Zakat trains people to acquire divine characteristic. If man purified of miserliness and greed and becomes accustomed to the habit of giving and spending, his soul is elevated above low human trait of covetousness, Truly man is niggardly! (17:100) and aspire to the height of Divine perfection, since one of the characteristic of Allah is absolute and unlimited mercy, powers, theoretical and practical .Allah obliges Zakat in order to perfect human souls in graciousness to other people ,as the prophet says, Train yourselves to attributes of Allah. This encouragement to spend through Zakat and voluntary charity resulted with time, you in the emergence of charitable trusts all over Muslim world, trusts devoted not only to helping the poor and needy but to all causes for human beings as well as animals. In addition, Zakat is to shows expression of thankfulness to Allah .Gratitude and thankfulness are among the best characteristics of human beings. Zakat is an expression of thankfulness to Allah for the bounties .He gives on us .Allah, says al-Ghazali, and has gives on human spiritual and materials bounties. Prayers and other acts of physical worship express gratitude for the blessing of creation, while Zakat and other acts of donator worship express gratitude for the material blessings of Allah .The concept that Zakat is thanks Allah for His bounties is s widespread and deeply rooted in the consciousness of Muslims that it is common to say that one must give Zakat in thanks for the grace of sight, hearing, health, knowledge, etc. Also, Zakat stimulates personality growth in those who pay it .Through helping others overcome their financial difficulties, Zakat payers are enriched by feelings of self-worth and fulfillment. Zakat also helps offer the payers self to others and grow through helping them and gives the payer a noble sense of victory over his base desires and material drives-over his owns shaytan. Last but not least, Zakat is to purify wealth. This is because Zakat is a right to the poor, not paying it means keeping something that belongs to others intermingled worth ones wealth and this brings Allahs wrath on the whole wealth. The Prophet (p) says, If you pay Zakat on your wealth, you have taken away its evil. IMPACT OF ZAKAT IN SOCIETY Undeniable, the concept of Zakat is the cornerstone in Islamic finance and economic system. Zakat is a compulsory charity that every Muslim must pay and to help the poor people. This has causes Zakat play an important role in the society, especially the Muslims society. Below are several impacts brought by Zakat system? The Zakat system helps to make sure the societys wealth circulation is in a fair and clean condition. Due to the wealth people must pay Zakat to the poor, the wealth will not become too rich whereas the poor will not become poorer. Definitely, there are some restrictions in order to choose the Zakat recipients, the restrictions can make sure those who receive the Zakat is with a reasonable and acceptable reason. In this case, Zakat has becomes the duty of wealth people, just like a compulsory charity must done by wealth people. But, the percentage of Zakat paid is depends on the wealth of an individual, it is not a system that forces people to pay a certain amount, but is require Muslims to pay their minimum amount according to their wealth which is affordable. Zakat also allows an individual to purify and grow his wealth. Man is naturally greedy and always want more and more to fulfil their unlimited utility. Zakat, with the obligatory charity, require Muslims to do charity. This process might make the people to think of others and come out from the race of personal interests. It has help to cleanse the selfishness of an individual where someone may extend his financial in order to help more poor people and those in need. The Holy Quran also has mentioned that And whose is saved from his own avarice such are they who are successful. With more and more individual with this personality can maintain the peacefulness of the society and becomes the role model for the next generation. Besides, Zakat system has helped to reduce the poverty problem in many countries. The main reason for poverty in any society is the concentration of wealth is limited to a very few people in a particular country. The introduction of Zakat system is actually for the purpose of this root cause of poverty. If everyone will need to pay Zakat, no poor or the unfortunate would have to involve in the begging. As the wealth is distributes to the poor, the poor will have the ability to continue struggling for their lives. In addition, Islam has prohibited the poor or needy from stretching hand before others. In the economic perspective, Zakat has also help to increase the production volume. When the Zakat has distributed to the poor and people in need, they would spend the money to satisfy their personal needs or basic needs, which then results in the increase of production volume. A rich individual however, will not need to spend too much money in order to fulfil their needs in life. Even the one wants to spend much, it will not more than a group of poorer spending money for basic needs. Moreover, the increase in production volume will led to the rise of several economic activities. In order to support the increased production, the economy would generate more jobs and more working opportunities which causes the unemployment level tends to reduce with the growth of economy in overall. The rise of job opportunities will then generates more demand of goods and services and more space for additional investment. And, finally, the growth cycle will lead to a balanced economic growth. Other than that, the Zakat system also will increase the overall savings of people, although with the concept of discouraging of over storage of money for an individual. Consequently, the income level of a society also has increased. All of these economic activities will led to the decrease in probability of economic recession. As the Zakat system is used to balance the wealth between the rich and poor, the chance of recession can be reduced. The impact brought by Zakat towards economic has improved the living standard of society, the inequality and poverty problem reduced and helped to decrease the crime rate and any other social evil that would harm the society. This is how the Zakat system makes a difference towards the society. TYPES OF ZAKAT Zakat is divided into several types: Zakat of Income Zakat of Savings Zakat of Business Zakat of KWSP/LTAT Zakat of Share Zakat of Livestock Zakat of Gold and Silver Zakat of Crops Zakat of Income Extra payment received by an individual from their employer or individual itself in the form of physical energy or physically or professional employment for specific day, month and yearly also been required to pay Zakat. Employment income includes: The annual salary Other allowances Unpaid wages Other remuneration such as bonuses, etc. Method of Calculation First Method Using gross income (without deduction) 2.5% on gross income per year. Example: Total gross income per year: RM 25,000.00 Amount of Zakat (2.5%): RM 625.00 Monthly Payment: RM 625.00 /12 = RM 52.08 Second Method Using the net income (Income year less allowable expenses per year) x 2.5% Expenses allowed deduction (per year): -:- Self: RM 8,000.00 Wife: RM 5,000.00 Children: RM 1,000.00 KWSP: 11% from gross income workers Parents Contribution: RM (amount given) per month x 12 months Contributions to organizations that pay the Zakat (for example: Lembaga Tabung Haji, Takaful) Zakat of Savings Contribution of workers and employers to KWSP People Provident Fund , Soldiers Provident Fund (LTAT) are also required to pay Zakat as the concept is similar to savings but the different is savings of KWSP and LTAT could not be withdraws anytime where never they like and it is subject the rules. Fixed Deposit Fixed deposit of RM 100,000 was kept for a year without the excluded (assumed nisab charity at that RM 9430.00) Then charity is required to produce are: RM 100,000 x 2.5% = RM 2.500 Regular Deposit Method of Calculation (Duration haul is January 5, 1999 until February 7, 2000) (Assuming nisab of charity at that RM 3,323.50) So Zakat are: (Balances with lower interest bank refused WITH) X 2.5% (RM 9,115.00 RM 115.00) x 2.5% = RM 225.00 Zakat of Business Zakat been given out by Sole Prop irate, Partnership, Cooperative Society, Societies and Organization which had reached one year and the time limit. Method of Calculations [(Current Assets Current Liability) + Coordination x Percentage of Muslims Share x ZAKAT ABILITY (2.5 %)]. Zakat of KWSP Contributions of employees and employers into the Employees Provident Fund (EPF), Lembaga Tabung Angkatan Army (LTAT),or the like imposed zakat as conceptually the same as saving money, but with the difference amount of savings, LTAT and so on shall not be issued at anytime because and subject to regulations that is fixed. Method of calculation First Method 2.5% of the contribution that issued once money issued. Second Method 2.5% of contribution every employee is based on the annual statement Zakat of Shares Zakat which is given out for investment which has reached its time limit and minimum value. Methed of Calculation 2.5 % the value of lowest share share which is own for one year minus for shared borrowed. If the lowest value is not determined, use the value beginning early in the year or in the year or whichever is the lowest. For shareholders which must be owned by investors. Muslims in the long term to gain control a company or firm so his payment for Zakat will be based on the calculations that it will not affect the importance of other Muslims to get hold of the company. If any of the owners shares has not reached one year, but the whole property being changed for a number of time for one year from shares to cash and vice versa, so use the lowest value with the mixture of money and shares, shares with basic to count Zakat multiply 2.5 %. Zakat of Livestock Livestock Zakat is property Zakat that required to be taken out in perfect the conditions. Domestic animal that obliged to pay Zakat is among them such as goat, cattle, camel, sheep, and buffalo. Prophet S.A.W said From Muaz Ibnu Jabal, had said, RasulullahS.A.W was sending me to Yaman and ask me to collect zakat from each of 30 cows, 1 lamb musinnah (1 female cattle aged up to 3 years ) and every 30 cows, tabi or tabiah ( 1 male or female cattle aged up to 2 years). The livestock that we would like to give a Zakat must be perfect and no defects such as missing the foot or hand and so on. COWS/BUFFALOES Quantities Zakat Amount / Sex 30-39 tail 1 tail, age 1 year / male 40-59 tail 1 tail, age 2 year / female 60-69 tail 2 tail, age 1 year / male 70-79 tail 1 tail, age 1 year / male and 2 tail, age 2 year / male 80-89 tail 2 tail, age 2 year / female 90-99 tail 3 tail, age 1 year / male 100-109 tail 1 tail, age 2 year / female and 2 tail, age 1 year / male 110-119 tail 2 tail, age 2 year / female and 1 tail, age 1 year / male 120 tail above tail, age 2 year / female and 3 tail, age 1 year / male GOATS Quantities Zakat Amount / Sex 40-120 tail 1 tail, age 2 year / male or female 121-200 tail 2 tail, age 2 year / male or female 201-399 tail 3 tail, age 2 year / male or female Subsequent additions : Every of 100 tail plus plus 1 tail, age 2 year / male or female SHEEP Quantities Zakat Amount / Sex 40-120 tail 1 tail, age 1 year/ male @ female 121-200 tail 2 tail , age 1 year / male @ female 201-399 tail 3 tail, age 1 year/ male @ female Subsequent additions : every 100 tail Increased by 1 tail, age 1 year / male @ female. Zakat of Silver and Gold Gold and silver is a mineral that is required to charity. This is because these metals are very useful as it uses an exchange value of all things. As for other jewelry than gold and silver like diamond, pearl, silk, copper, are not obligatory Zakat on it. Nisab Zakat gold used = 200gram Gold Zakat Nisab unused = 85gram Zakat of Crops Zakat for basic food after it has reached the stage of satisfaction for the state which is 363 gantang / 1300 kg like paddy, wheat, cereals and so on. Method of Calculation First Method Cereals and fruits which used by people energy, animals and machines will use a lot of expenditure and so that the Zakat is 10 % or 1/10 Second Method Cereals and fruits depend on rain water, so Zakat is 5 % or 1/20 Third Method Cereals and fruits depends both as above method, so Zakat is 7.5 % ZAKAT PAYMENT When Does Zakat Become Obligation Only the wealth of Muslims is imposing to Zakat, it is not required from non-Muslim. First, this is because Zakat is one of the Pillar of Islam; it cant expect any disbeliever to pay it. Second, Islam is one of religion which is prohibiting any action that enforce others accept Islam as ones religion. In additional, if people just adapt them to Islam they should not be asked any past due of Zakat (the period of disbelief). According to the Shariah, Zakat is an obligatory for any Muslim who is: Mature Only major subject to the Zakat, qualify as a Zakat payer. Due to the lack of legal capacity, minor are not under a fard obligation to perform acts of ibadah. They are exempt from paying Zakat by using reason they deficiency of legal capacity. Sane As a Zakat payer, he should be sane. Before a child reaches mature, he considers as insane. He is exempt from the payment of Zakat during that period and liability of Zakat is start calculate when he get back his sanity. For another example, although the person was sane at the time of maturity but after that he becomes insanity. This person also exempts Zakat for the period his insanity. The liability of Zakat is calculated from the date of recovery of sanity. On the other hand, if the person only insanity of a part of the year, then his liability for Zakat of that year is calculated, no exempt. Free Owns the minimum (nizab) As a Zakat payer, he must meet all these four conditions. If one condition is not met, he doesnt have an obligation for the payment of Zakat. Besides, even a child, an orphan, or a mentally retarded person is exempt from Zakat payment but they are required to pay on their behalf. Last, if a person died without pay the Zakat was due, Zakat will take from the estate of a deceased person. ZAKAT DISTRIBUTION Categories Where Zakat Can Be Spent Zakat is only paid to an individual who is really needed and deserve. In the Quran, Allah (swt) says that: Zakat is for the poor and the needy and those who are in charge thereof, those whose hearts are to be reconciled; and to free those bondages, and to help those burned by debt, and for expenditure in the way of Allah, and for the wayfarer. This is an obligation from Allah. Allah is All- Knowing, All- Wise. (9:60) According to this, Zakat only can pay under eight categories. There are: The poor and the needy The main objective of Zakat is to reduce or mitigate poverty and destitution in social. The way to achieve it is taken from the rich and rendered to the poor. Actually, people who are poor and need is different. People whose are categories as poor when they are in need but due to modesty and self-respect, they are not begging from others. People who are in need and they are submitted in begging from others are classified as people who are needy. A person has become poor and needy mostly is because they are shortage in their income, they cannot fulfil the essential needs, and they are totally poverty. Besides, poor and need also includes those are physical disability, old age, or accidental circumstances. According to Al-Qaradawi, full- time students can be in needy situation when they are continuing their education. Workers in Zakat administration A person who collects and distributes Zakat is the third category of Zakat recipients. Based on Al- Qaradawi, Zakat collection and administration is the function of an organized body paid employees. Workers can receive Zakat as a compensation for their works regardless they are poor or not. Besides, this compensation must compete with the market value of their labour. Those whose hearts are being reconciled Five types of people involved in this category, there are: An individual who is close to become Muslim or whose clans may become Muslim. An individual who may do evil or harm to Muslim. Giving a Zakat to those people will prohibit them to do it. An individual who has just become Muslim, Zakat will help them to be engaged with Islam An individual who has a positive influence on Muslim. A Muslim who is expected to defend their Muslim land against attract from other. This happens especially when they are living on the boarder of a Muslim country. Muslim whose influence is needed in the process of collecting Zakat in order to convince individuals whose will not pay their Zakat. This action can avoid having fought between government and whose reject in Zakat payment. According to some jurists, such as Hanafis and Malikis, this category is not exist since the death of the Prophet but Al-Qaradawi and Mawdudi disagree with it, they state that Zakat recipients in this category have not stopped, but the payment only can make by the Islamic state, not by individual Zakat payers. Emancipation of slaves Contracted salves can use Zakat to pay his master in order to gain his freedom. Allah orders Muslims must show respect and give to give slaves who wish his contract is freeing. Besides, Allah also orders master to help his own slaves become freedom if they demand it. Allah says, If any slaves you own desire to make a contract to free themselves, write it for them if you know of good in them some of the wealth Allah has given you. Those burned in debt. According to the Hanafi School, a person is included in this category when he does not have enough wealth to serve his debt. The debts arise from consumer expenditure; it includes medical bills, building a house for personal residence, and marriage. Besides, victims those hit by natural disasters or accident and force them must borrow from other in order to continue their basic life also includes in this category. Zakat also consider as a high quality insurance against the financial effect from natural disasters or accidents. Before applying the Zakat, four conditions must be met, they are: The debtor must be in need of financial facilitating. A person who can cover his debt with his own wealth can not apply from Zakat. Besides, people who do not have sufficient wealth but they still can serve his debt with the income is eligible for Zakat. This condition shows Zakat is not only for a debtor who is totally destitute. Zakat may pay with difference depend on the level amount of debt against the available wealth of the debtor. The debt must come from Islamically lawful activity, for example borrowing in order to support the family. Loans are used for activities those are prohibited by Islam cannot be paid by Zakat. These activities include consumptions of alcoholic beverages and over-spending on lawful items. The main reason Zakat cannot be used to pay in these activities is to stop other to do this sin activities. The debt must be due immediately. Different scholar has a different idea of this condition. Some scholars approve that if the debt is due after one year, the debtor cannot get Zakat to pay it. Some disapprove of this; they argue that Zakat can give help to debtors regardless of the due date of the loans. One can be confirming is obligations owed to God are excluded in this category. The debt should by reason of other human beings. For example, obligation to Allah is excluded in this category. Obligation to Allah can be due Zakat and compensation for breaking a certain condition in Shariah. Expenditure in the way of Allah. After concluding the views of the Hanafi, Maliki, Shafii, and Hanbali, three points are agreed with them. There are: Jihad considers a part of this category. The fighter who fighting for the sake of Allah is lawful to receive Zakat. However the equipment and arms to fight is not agreed with some scholar. Public works such as building school, mosques, highways and roads, and irrigation canals is not qualified to receive Zakat. Four schools say that this public works have other funds to pay it such as fay and kharaj. Wayfarer Majority jurists believe that someone who just desire and just start travelling isnt classified in this category. This is because term Ibn as-sabil is meant someone on the road and a person who starts and desire travelling is still staying at home. Besides, a person considers as travellers will cut off his financial means at home. That means no income for him when he is travelling. A person who is desire for travel hasnt cut off his financial means yet. The wayfarer is one of a category can receive Zakat because of several reasons which are encouraged by the Quran: Travelling for purpose work and opportunity. Travelling can seek more knowledge and ponder on the signs of Allah in the world and on His animal and human communities. Travel can for the purpose of jihad in the Way of Allah Travel because of to attend the pilgrimage to the Sacred House of Allah. Categories Who Can Not Receive Zakat According to Yusuf al-Qardawi (1999), there are several categories of people who is cannot receive Zakat. These categories are: The rich people Zakat has purposed to reduce poverty and destitution in social. In order to achieve it, Zakat will be taken from the rich and rendered to the poor. If Zakat is given to the rich, th

Deception Point Page 67

As they walked to the elevator, the old man said, â€Å"Sometimes all it takes to unravel something is a single strand. Perhaps we can find a way to eat away at NASA's victory from within. Cast a shadow of distrust. Who knows where it will lead?† The old man locked his tired eyes on Sexton. â€Å"I am not ready to lay down and die, senator. And I trust nor are you.† â€Å"Of course not,† Sexton said, mustering resolve in his voice. â€Å"We've come too far.† â€Å"Chris Harper lied about fixing PODS,† the man said as he boarded the elevator. â€Å"And we need to know why.† â€Å"I will get that information as fast as I can,† Sexton replied. I have just the person. â€Å"Good. Your future depends on it.† As Sexton headed back toward his apartment, his step was a little lighter, his head a little clearer. NASA lied about PODS. The only question was how Sexton could prove it. His thoughts had already turned to Gabrielle Ashe. Wherever she was at the moment, she had to be feeling like shit. Gabrielle had no doubt seen the press conference and was now standing on a ledge somewhere getting ready to jump. Her proposition of making NASA a major issue in Sexton's campaign had turned out to be the biggest mistake of Sexton's career. She owes me, Sexton thought. And she knows it. Gabrielle already had proven she had a knack for obtaining NASA secrets. She has a contact, Sexton thought. She'd been scoring insider information for weeks now. Gabrielle had connections she was not sharing. Connections she could pump for information on PODS. Moreover, tonight Gabrielle would be motivated. She had a debt to repay, and Sexton suspected she would do anything to regain his favor. As Sexton arrived back at his apartment door, his bodyguard nodded. â€Å"Evening, senator. I trust I did the right thing by letting Gabrielle in earlier? She said it was critical she talk to you.† Sexton paused. â€Å"I'm sorry?† â€Å"Ms. Ashe? She had important information for you earlier tonight. That's why I let her in.† Sexton felt his body stiffen. He looked at his apartment door. What the hell is this guy talking about? The guard's expression changed to one of confusion and concern. â€Å"Senator, are you okay? You remember, right? Gabrielle arrived during your meeting. She talked to you, right? She must have. She was in there quite a while.† Sexton stared a long moment, feeling his pulse skyrocket. This moron let Gabrielle into my apartment during a private SFF meeting? She stuck around inside and then departed without a word? Sexton could only imagine what Gabrielle might have overheard. Swallowing his anger, he forced a smile to his guard. â€Å"Oh, yes! I'm sorry. I'm exhausted. Had a couple of drinks, too. Ms. Ashe and I did indeed speak. You did the right thing.† The guard looked relieved. â€Å"Did she say where she went when she left?† The guard shook his head. â€Å"She was in a big hurry.† â€Å"Okay, thanks.† Sexton entered his apartment fuming. How complicated were my goddamn directions? No visitors! He had to assume if Gabrielle had been inside for any length of time and then snuck out without a word, she must have heard things she was not meant to hear. Tonight of all nights. Senator Sexton knew above all he could not afford to lose Gabrielle Ashe's trust; women could become vengeful and stupid when they felt deceived. Sexton needed to bring her back. Tonight more than ever, he needed her in his camp. 79 On the fourth floor of the ABC television studios, Gabrielle Ashe sat alone in Yolanda's glass-walled office and stared at the fraying carpet. She had always prided herself on good instincts and knowing whom she could trust. Now, for the first time in years, Gabrielle felt alone, uncertain which way to turn. The sound of her cellphone lifted her gaze from the carpet. Reluctant, she picked up. â€Å"Gabrielle Ashe.† â€Å"Gabrielle, it's me.† She recognized the timbre of Senator Sexton's voice immediately, although he sounded surprisingly calm considering what had just transpired. â€Å"It's been one hell of a night over here,† he said, â€Å"so just let me talk. I'm sure you saw the President's conference. Christ, did we play the wrong cards. I'm sick over it. You're probably blaming yourself. Don't. Who the hell would have guessed? Not your fault. Anyhow, listen up. I think there may be a way to get our feet back under us.† Gabrielle stood up, unable to imagine what Sexton could be talking about. This was hardly the reaction she had expected. â€Å"I had a meeting tonight,† Sexton said, â€Å"with representatives from private space industries, and-â€Å" â€Å"You did?† Gabrielle blurted, stunned to hear him admit it. â€Å"I mean†¦ I had no idea.† â€Å"Yeah, nothing major. I would have asked you to sit in, but these guys are touchy about privacy. Some of them are donating money to my campaign. It's not something they like to advertise.† Gabrielle felt totally disarmed. â€Å"But†¦ isn't that illegal?† â€Å"Illegal? Hell no! All the donations are under the two-thousand-dollar cap. Small potatoes. These guys barely make a dent, but I listen to their gripes anyway. Call it an investment in the future. I'm quiet about it because, frankly, the appearances aren't so great. If the White House caught wind, they'd spin the hell out of it. Anyhow, look, that's not the point. I called to tell you that after tonight's meeting, I was talking to the head of the SFF†¦ â€Å" For several seconds, although Sexton was still talking, all Gabrielle could hear was the blood rushing in shame to her face. Without the slightest challenge from her, the senator had calmly admitted tonight's meeting with private space companies. Perfectly legal. And to think what Gabrielle had almost considered doing! Thank God Yolanda had stopped her. I almost jumped ship to Marjorie Tench! â€Å"†¦ and so I told the head of the SFF,† the senator was saying, â€Å"that you might be able to get that information for us.† Gabrielle tuned back in. â€Å"Okay.† â€Å"The contact from whom you've been getting all your inside NASA information these past few months? I assume you still have access?† Marjorie Tench. Gabrielle cringed knowing she could never tell the senator that the informant had been manipulating her all along. â€Å"Um†¦ I think so,† Gabrielle lied. â€Å"Good. There's some information I need from you. Right away.† As she listened, Gabrielle realized just how badly she had been underestimating Senator Sedgewick Sexton lately. Some of the man's luster had worn off since she'd first begun following his career. But tonight, it was back. In the face of what appeared to be the ultimate death blow to his campaign, Sexton was plotting a counterattack. And although it had been Gabrielle who led him down this inauspicious path, he was not punishing her. Instead, he was giving her a chance to redeem herself. And redeem herself she would. Whatever it took. 80 William Pickering gazed out his office window at the distant line of headlights on Leesburg Highway. He often thought about her when he stood up here alone at the top of the world. All this power†¦ and I couldn't save her. Pickering's daughter, Diana, had died in the Red Sea while stationed aboard a small navy escort ship, training to become a navigator. Her ship had been anchored in safe harbor on a sunny afternoon when a handmade dory loaded with explosives and powered by two suicide terrorists motored slowly across the harbor and exploded on contact with the hull. Diana Pickering and thirteen other young American soldiers had been killed that day. William Pickering had been devastated. The anguish overwhelmed him for weeks. When the terrorist attack was traced to a known cell whom the CIA had been tracking unsuccessfully for years, Pickering's sadness turned into rage. He had marched into CIA headquarters and demanded answers.