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7 votes
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How negative rates and millionaires played a role in Danish vote
5 votes -
Should the US and the states create their own Sovereign Wealth Fund?
I think a Sovereign Fund is where Yang should move his focus to. Its a long-term approach that requires a focus. In 30 years the Norway fund has become the largest fund in the world The Norway...
I think a Sovereign Fund is where Yang should move his focus to. Its a long-term approach that requires a focus. In 30 years the Norway fund has become the largest fund in the world
The Norway Fund has been the receiver of all of Norway's Gas Taxes and Profits but has not paid out anything, so its only grown. But its intend purpose is to supply a form of a UBI (or subsidize Gov't tax revenues if the taxes were to ever fall short enough)
To Fund it, in the US, we need the Gas tax to be quadrupled. Double ($1/gal) it to properly pay for road maintenance and to pay for properly funded and expanded metro development, Greener metro lines, bike lanes, double it again ($2) to pay for Wealth Funding
This gas tax funding of $1/gal would contribute 175Billion in investments
After 40 years the wealth Fund would provide $7 Trillion Annually to pay for a UBI for as long as the US were to want it. Without any additional tax revenue
I think we can look at other jobs and industries where there is a boom and bust cycle, casinos, and where future income should be considered
Mississippi Gambling Revenue and therefore taxes has fallen 31% in 2018 (tax revenue $234 million) vs 2008's (345 million) best year numbers.
If Mississippi had contributed it's taxes to a Sovereign Wealth Fund instead of using it as a Substitute to Government taxes what would the effect have been.
A year after gambling was Legalized in Mississippi, skipping the first years taxes, the state of Mississippi has received Gaming Taxes, Starting in 1994, a total of $6.3 Billion in tax revenues
If those same taxes had been invested in a Wealth Fund its current value would be ~$29.6 Billion
Of course this would have required Mississippi to create 6 Billion in alternate tax Revenues, and this is the stump speech Yang needs to create.
Because in 5 years when Gaming Revenues have dropped another 50% its time for Mississippi to be ready, and in this case you're sitting on a $50 Billion Wealth Fund. That can pay out $4 billion a year to its 2.9million residents or fund the government services instead of deep cuts
14 votes -
Norway's sovereign wealth fund backs away from fossil fuels
7 votes -
Shadow banks are back with another big bad credit bubble
11 votes -
Protecting the 'unbanked' by banning cashless businesses in Philadelphia
12 votes -
Troika laundromat: A special investigation into leaked papers showing how vast sums of Russian money were channelled into western banks
10 votes -
Pulling rabbits out of hats
3 votes -
US Secret Service warns of surge in ATM ‘wiretapping’ attacks
9 votes -
Bank of America freezing accounts of customers suspected of not being US citizens
18 votes -
Wells Fargo may have accidentally foreclosed 400 US homes
10 votes -
The Bank of England has raised the interest rate to 0.75% - the highest level since March 2009
7 votes -
European Central Bank president Mario Draghi warns risks from trade war may be understated
6 votes -
Inside the bunkers and war rooms where major banks wage nightly battle on the frontline of cyber war
5 votes -
Commonwealth Bank to pay record $700m to settle money-laundering case
5 votes -
US Federal Reserve votes to ease rule aimed at preventing big banks from making risky financial bets
6 votes -
African finance leaders to debate using China’s yuan as a reserve currency
10 votes -
Campaign for postal banking
9 votes