June 24, 2019

Money

"Newly obtained tax information reveals that from 1985 to 1994, Donald J. Trump’s businesses were in far bleaker condition than was previously known."

"Recently, under the somewhat unlikely inspiration of Elizabeth Warren, some conservatives have revived an old debate: Did millions of women entering the work force actually make families worse off?"

"I’m a Democrat in the House of Representatives who recently became a minor cause celebre in conservative media circles after I publicly pronounced myself a “proud capitalist..."

"Dramatic income inequality has driven voters to support influential leaders in both political parties who advocate changes to our economic system that would ultimately destroy capitalism."

"The bottom line is that the economy's growth has slowed meaningfully from a year ago, when it was juiced-up by deficit-financed tax cuts."

"Draped in the rhetoric of accountability and meritocracy, journalism is an industry in unmitigated decline. The industry’s workforce has halved in the last 15 years..."

"Amazon has paid billions of dollars in corporate income tax in recent years, though in some years it has paid no tax on profits because — don’t let the accounting terminology scare you off here — it lost money."

"Rent-to-own furniture is being rebranded for millennials. Furniture rental startups tout their flexibility — but they’re a sign of how precarious millennial living can be."

"Billionaires are all around us, but do we ever stop and notice them? We pass through their habitats and provide them the tax nourishment that biologists say is necessary for their survival."

"This country is rigged in favor of making the very wealthy even wealthier... A growing number of privileged young people are questioning the morality of their advantages."

"Seven in 10 adults ages 18 to 34 received financial support from their parents in the last year, including more than half of those in their early 30s. Almost three in five millennials said they couldn’t afford their lifestyles without the support."

"As an Aquarius, David Birnbaum is naturally skeptical of astrology. But as an investor, he has zero doubts about the business potential of the $2.1 billion “mystical services market.”"

"Let me be blunt: You should not pay for TurboTax. If you want to use a free version of TurboTax or H&R Block at Home or Credit Karma Tax or TaxAct, go wild. But for the love of God, don't give Intuit money."

"“I’d die and go to hell before selling an annuity” (to you or anyone). You may have seen me on my firm’s long-running TV ads saying that. Over the top? Yep!"

"Economics has trouble predicting the effects of big changes. Most of the events economists can observe and study are limited, incremental changes — a modest increase in the minimum wage, or a small decrease in immigration."

"Buttigieg went so far as to say democracy should not be sacrificed for the sake of a free-market economy. And in making this comment, he has shown that his understanding of both democracy and capitalism are limited and misguided."

"In the United States, about 90 percent of children born in 1940 grew up to experience higher incomes than their parents, according to researchers at the Equality of Opportunity Project. That figure dropped to only 50 percent of those born in the 19"

"...what about other ways the labor market is unequal? To illustrate one example, Mark Perry, an economist at the American Enterprise Institute, has suggested “Equal Occupational Fatality Day.”"

"“Easy money” is a popular concept on the right. Particularly among the puritans in our midst. The phrase is used to explain away success."

"Since the U.S. housing recovery began in 2012, affordable homes in modest neighborhoods have notched the sharpest price increases while luxury houses in wealthy neighborhoods have had the smallest percentage gains."

"America's currency enjoys a unique role in the world: Virtually all international trade and financial settlements are done in contracts written in dollars. This gives the U.S. some unique advantages."

"It's obvious Trump will not release his tax returns, ever. The only way the American public will get them is if someone forces them out."

"Sometimes when an Ollie’s Bargain Outlet opens, the crowd can get large—particularly if Ollie’s arranges for a Nascar star or MLB player to visit—and law enforcement is needed to help manage the situation."

"Unlike previous iterations of socio-economic disruption caused by technological revolutions, the disruptions from advances in AI will be felt by all sectors of the economy—from manufacturing to legal and medical professions and everything between."

"We know from a wide body of research that immigrants on the whole help grow our economy. One of the most compelling data points is that immigrants have provided half of the growth in our workforce over the last decade."

"It is a commonplace observation that the rent is too damn high, at least in Manhattan, San Francisco, London, Vancouver and many of the world’s other glamour spots. Not only is this observation true — it’s worse than you think."

"At the end of last week, the three-month Treasury bills' yield rose above the yield for 10-year Treasuries for the first time since 2007, prompting warnings that the U.S. is headed for recession later this year or in early 2020."

"Democrats and Republicans seem to have irreconcilable views on economics, but on one point they agree: Small business is better than big."

"American landlords derive more profit from renters in low-income neighborhoods, researchers Matthew Desmond and Nathan Wilmers find."

"At the Jewish Museum in London called “Jews, Money, Myth.” The show explores the ways in which Jews have been associated with money over the past 2,000 years."

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