US Markets Economy-Taxes, Tech News Analysis
Elon Musk, the tech billionaire and CEO of Tesla and SpaceX, has made headlines again, but this time not for his business ventures or social media antics, but for unblocking everyone from his Twitter account. In a recent tweet, Musk wrote, “I have unblocked everyone I blocked, apart from scammers. I recommend others do the same. Negative feedback is a good thing.” This move by Musk has been praised by…
On February 28, 2022, the United States Supreme Court heard arguments on the legality of $430 billion in student Loan Forgiveness for 40 million borrowers. The of President Joe Biden’s policy on student Loan Forgiveness, which aimed to ease financial burdens on debt-saddled borrowers, has faced scrutiny by the court under the so-called major questions doctrine, a muscular judicial approach used by the conservative justices to invalidate major Biden policies…
Canadians Will Soon Be Hit With One of the Highest Alcohol Tax Increases Ever, and many are not happy about it. The increase, set to begin on April 1, will see taxes rise by 6.3%. This has been called the largest alcohol tax increase in 40 years by Restaurants Canada and the highest increase ever by Retail Insider. Critics argue that the government should not be increasing taxes on the…
The US Consumer Confidence Index® decreased in February for the second consecutive month, reflecting worsening expectations about the future economic situation. The Index fell to 102.9 from 106.0 in January, with the Expectations Index falling to 69.7 from 76.0 in January. This is a significant drop, and the index has now been below 80 for 11 out of the last 12 months, which signals a potential recession within the next…
Elon Musk, the billionaire entrepreneur, engineer and founder of Tesla and SpaceX, has once again become the world’s richest man with a net worth of $187 billion, according to the Bloomberg Billionaires Index. The surge in his wealth comes after a recent rise in the value of Tesla stock, which closed 5% up at $207.63 on Monday. Tesla’s stock has soared almost 70% this year, adding $7 billion to Musk’s…
In today’s world, access to the internet has become an essential part of daily life. However, many low-income families struggle to afford internet services, making it challenging to participate in online education, access telemedicine services, and apply for jobs. To address this issue, the US government has introduced the Affordable Connectivity Program (ACP), a free internet service available to eligible households. The ACP is part of the Bipartisan Infrastructure Law…
The ongoing conflict in Ukraine has had far-reaching effects on the global economy, with disruptions to energy and food prices and the currency market. In this blog post, we will examine five indicators that illustrate how the war in Europe has shaped global financial markets over the past year. Firstly, we will look at the impact on safe havens, where the US dollar emerged as the ultimate safe haven during…
Introduction On February 28, 2023, the United States Supreme Court will hear arguments on Student Debt Cancellation Plan from Republican officials and special interests attempting to block President Biden’s plan to cancel up to $20,000 in student loan debt for millions of Americans. This cancellation program aims to provide targeted relief to working- and middle-class Americans, which would advance racial equity, help borrowers of all ages, and completely wipe out…
The statement “Selection for an IRS audit means there’s a problem” is not necessarily true. While it is true that some audits are triggered by discrepancies or errors on a tax return, not all audits are conducted because of wrongdoing. The IRS also conducts random audits or audits based on a statistical formula to update return selection information, as well as related examinations of returns that involve issues or transactions…
I. Introduction Warren Buffett, the chairman and CEO of Berkshire Hathaway, recently released his annual letter to shareholders, highlighting the company’s commitment to long-term investment in businesses with strong economic characteristics and trustworthy managers, as well as the company’s gratitude for its dedicated and philanthropic shareholders. The letter also discussed the significance of operational earnings over GAAP earnings, the importance of repurchasing shares, and the lesson of focusing on winners…