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5 votes
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A history of Visa, the credit card company. Part I
8 votes -
Walmart dodged up to $2.6 billion in US tax through a “fictitious” Chinese entity, former executive says
13 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 -
US President Donald Trump says he's raising tariffs on China after its retaliation
9 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 -
Inflated bond ratings helped spur the financial crisis. They’re back.
5 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 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 -
DoorDash commits to changing their tipping model after renewed uproar
13 votes -
Raj Chetty's plan to fix the American Dream
5 votes -
Elizabeth Warren, in detailed attack on private equity, unveils plan to stop ‘looting’ of US companies
16 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 -
Getting rich: From zero to hero in one blog post
15 votes -
SEC charges Kik Interactive with conducting $100 million unregistered ICO
5 votes -
Shadow banks are back with another big bad credit bubble
11 votes -
Donald Trump administration considered US tariffs on Australia
10 votes -
The retirement gamble
9 votes -
Donald Trump says US will hit Mexico with tariffs on all goods, starting at 5% on June 10 and increasing monthly up to 25%
19 votes -
Big Tech wanted to dethrone credit cards. Why it failed, and who wins now
8 votes -
Corporations are getting better at gutting worker protections
7 votes -
KKR hires former Australian Prime Minister Turnbull as global senior advisor
5 votes -
TurboTax uses a “military discount” to trick US troops into paying to file their taxes
12 votes -
Deutsche Bank says software to detect money laundering had a bug
7 votes -
We talked with the New Hampshire family in Andrew Yang’s universal basic income experiment
11 votes -
New York regulator launches investigation into TurboTax maker Intuit and H&R Block
6 votes -
US President Donald Trump’s trade war threat poses problems for China and investors
6 votes -
Young Puerto Ricans are leaving the island to escape the territory's debt
7 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 people 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 -
Why the US government makes filing your taxes intentionally difficult
16 votes