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8 votes
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Vox Media acquires New York Magazine
15 votes -
Blame economists for the mess we’re in: Why did America listen to the people who thought we needed “more millionaires and more bankrupts?”
19 votes -
Where dollar bills come from
6 votes -
Alaska’s universal basic income problem
19 votes -
A history of Visa, the credit card company. Part I
8 votes -
The Kochtopus’s garden
9 votes -
How Elon Musk fooled investors, bilked taxpayers, and gambled Tesla to save SolarCity
19 votes -
America is obsessed with beef. But it has no use for hides, so leather prices plunge
9 votes -
Billionaire industrialist David Koch has died
48 votes -
A young mayor makes the case for a guaranteed income
11 votes -
American capitalism is brutal. You can trace that to the plantation
16 votes -
Yield curves invert in US, UK as ‘doom and gloom’ spreads
25 votes -
China lets yuan tumble past seven per dollar as trade war escalates
15 votes -
The FTC's settlement with Equifax is such a joke, the FTC is now begging you not to ask for a cash settlement
16 votes -
College financial-aid loophole: Wealthy US parents transfer guardianship of their teens to get aid
15 votes -
Capital One says data breach affected 100 million North American credit card applications
11 votes -
The FBI thinks Long Island Iced Tea’s infamous pivot to blockchain was sweetened by insider trading
6 votes -
The world’s last Blockbuster has no plans to close
10 votes -
Trump’s Budget Deal Shows Deficits Don’t Matter Anymore
6 votes -
Dish agrees to $5 billion US deal for wireless assets
3 votes -
DoorDash commits to changing their tipping model after renewed uproar
13 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 -
Greed, drugs, dirty cops, and the bitter sibling rivalry burning up the $800 million Louisiana family dynasty of Knight Oil Tools
8 votes -
Distributional analysis of Andrew Yang’s Freedom Dividend
8 votes -
America needs to see Amazon’s tax returns
11 votes -
Disney heiress calls for wealth tax: 'We have to draw a line'
10 votes -
How Itta Bena, Mississippi, became a banking desert
5 votes -
It’s been five years since Seattle’s landmark $15 minimum wage law. It not only helped workers — it raised their expectations about what's possible and what they deserve.
16 votes -
Cryptocurrency pioneer Justin Sun pays US$4.57M for lunch with Warren Buffett
7 votes -
Getting rich: From zero to hero in one blog post
15 votes -
US Securities and Exchange Commission charges Kik Interactive with conducting $100 million unregistered ICO
5 votes -
Shadow banks are back with another big bad credit bubble
11 votes -
The retirement gamble
9 votes -
Big Tech wanted to dethrone credit cards. Why it failed, and who wins now.
8 votes -
US corporations are getting better at gutting worker protections
7 votes -
KKR hires former Australian Prime Minister Turnbull as global senior advisor
5 votes -
We talked with the New Hampshire family in Andrew Yang’s universal basic income experiment
11 votes -
How the promise of a $120 billion Uber IPO evaporated
10 votes -
'It's a laughable fiction': How Uber's $82 billion valuation was built on a lie to its workers
13 votes -
Bitfinex covered $850 million loss using Tether funds, NY prosecutors allege
8 votes -
The company that sells love to America had a dark secret
8 votes -
The corporations devouring American colleges
5 votes -
Many Americans are too broke for bankruptcy. A new report suggests some fixes.
6 votes -
Last summer, Foxconn announced a barrage of new projects in Wisconsin, but an attempt to check up on them found little except empty buildings and secrecy
10 votes -
Uber files for its IPO
12 votes -
Maryland just became the sixth state to raise the minimum wage to $15 an hour
23 votes -
Bill raising Federal minimum wage to $15 heads to US House floor
31 votes -
What is the human cost to China's economic miracle? | Head to Head
6 votes -
Why is customer service so bad? Because it’s profitable.
13 votes