Author: EconLearner
The IRS has released some guidance on the new Trump accounts, including details on the $1,000 pilot program for new babies.gettyThe IRS has released new guidance on Trump accounts, a new type of individual retirement account (IRA) for eligible children created under the One Big Beautiful Bill Act (OBBBA).What are Trump accounts?Trump accounts are a new type of retirement savings account created by Congress as part of the OBBBA. According to the OBBBA, a Trump account can be opened for any qualifying child under the age of 18 at the end of that calendar year. A qualifying child must have…
AI has boosted the fortunes of US tycoons like Google parent Alphabet’s Sergey Brin and Nvidia’s Jensen Huang to stratospheric levels—and now it’s boosting Chinese tycoons, too. Wang Weixiu, founder of Zhongji Innolight, has seen his own net worth rise 400% this year to $13 billion as demand for his company’s optical devices soars.Wang, who stepped down as chairman of Zhongji Innolight in 2023, still derives his net worth largely from a stake in the company, according to Forbes estimates. The 75-year-old had a fortune of $2.6 billion when Forbes tallied his fortune for the World’s Billionaires List in March.…
WASHINGTON, DC – AUGUST 18: Entrance to the Federal Deposit Insurance Corporation (FDIC) is seen on August 18, 2024, in Washington, DC. (Photo by J. David Ake/Getty Images)Getty ImagesGreater federal deposit insurance would weaken banks, bank depositors, and the broader US economy. Say what is true repeatedly. To see the obvious contradiction in legislation that means increasing deposit insurance from $250,000 per account to $10 million per account, just look a little deeper into the details. Insurance is for interest free accounts. Bank accounts that do not pay interest speak strongly about the wishes of the holders of these accounts.…
A growing number of workers are reshaping when, where and how they work — prioritizing autonomy and meaningful use of time.gettyThe wide range of Elon Musk interview with Nikhil Kamath offered a sweeping vision of the future of work—a vision where artificial intelligence makes work optional, machines create abundance, scarcity disappears, and work becomes economically irrelevant. However, in the same conversation, Musk warns that population decline threatens humanity’s ability to expand collective consciousness and understand the universe.These two ideas cannot coexist. If human consciousness is the true scarce resource that drives progress, then the human contribution becomes more meaningful, not…
Start eliminating debt for free with EveryDollar – https://ter.li/3w6nto Have a question for the show? Call 888-825-5225 …
(Original caption) Caricature of William Bryan (1860-1925), populist presidential candidate in a “mighty dangerous experiment.” Undated engraving showing Brian trying to split a gold dollar at the back of a man’s neck without injuring him.Bettmann ArchiveOn vacation, I caught him in a frenzy online debate over whether the poverty line in the United States should be set at $140,000; Only about 12 percent of atom wage earners earn more than $140,000, so this standard would mean 88 percent of working Americans are in poverty.Others already have sharp out the many technical ways in which this idea is flawed, and I…
Texts are no longer private.GettyUpdated on December 2 with Google’s response to the furor surrounding this update.Microsoft sparked viral outrage when it unveiled an update to Teams to let your company know when you’re away from work. Now Google has done the same. Forget end-to-end encryption. A new Android update means that RCS and SMS texts are no longer private.As reported by Android Authority”Google is rolling out Android RCS Archival on Pixel phones (and other Android phones), allowing employers to monitor and archive RCS conversations on work-managed devices. In simpler terms, your employer will now be able to read your…
Actually, previous research has shown that people are more likely to make a donation the greater the impact they think it will have. For example, people are willing donate more money in charities the more efficient they think they are.Thus, when people decide to give time or money to their chosen cause, their decision may ultimately depend on which of the two they believe will be more impactful or effective.In a series of studies, Kellogg associate professor of marketing Rima Touré-Tillery and incoming assistant professor of marketing at Michigan Ross and Kellogg graduate Samantha Kassirer examine people’s willingness to donate…
Thanksgiving is officially behind us, and many women may find that the season of gratitude is quickly overwhelmed by the season of busyness. Undoubtedly, the holiday season can be complicated. Parties, gifts, and twinkling lights make the season magical, but it can also overwhelm the to-do list. Modern expectations of holiday decorating and giving may violate past times and make us long for simpler times, but we still have plenty to be thankful for. Holiday movies like Arnold Schwarzenegger’s “Jingle All the Way” seem increasingly outdated as the days of parents scrambling to get the few hot items stocked on…