Thanks for sharing that info. Definitely sounds like it might have been a good idea in the past but now overdo for a change. Sad that the current PM wants to continue destruction to get votes.
Seems like a good example of how policies need to be implemented with a forward-thinking mentality. Can’t rely on future changes.
The cost of solar and wind is becoming so attractive, it’s hard to see why anyone would do otherwise.
The elephant in the room (at least for the US; I’m not as familiar with UK policies) are the subsidies. It sparks new investments because many of the incentives are specifically related to new projects. Other ones mess with the valuation of the equipment, making long term tax burden much lower. It’s not the only energy industry to receive subsidies. But it’s pretty asinine to continue to support the one that’s destroying our world.
“In one case, it’s going to profit, amplifying the incumbent status of the oil and gas industry. In another, under more aggressive decarbonization policy and low oil and gas prices, it’s actively working against the climate goal by spurring additional production.”
For sure. The US was once a leader with its public infrastructure and programs, from education to the highway system. Paying BIG money to provide these incredible public services.
Now it seems like a lot of people in the US want to live in a place with zero public projects, crumbling roads, and unregulated utilities. Even wealthy people who waste money on the dumbest stuff don’t want to pay for top-notch public services. I truly don’t understand how you’d want to be so wealthy but live in a place that’s not well cared for. Drive your insanely expensive car on a road filled with potholes. But selfishness and greed are definitely part of the picture.
Creating new public infrastructure in the US can be extremely expensive, but it’s definitely still worth pursuing.
Nearly every in-depth study shows that for every $1 invested, the economic return is somewhere around $4-$5. And on top of that, failing to have adequate public infrastructure can cause serious economic consequences, which are compounded in areas with a lack of affordable housing.
Even though this article is a little old and sponsored by a party with a vested interest on the topic, I think it’s worth a read:
https://www.politico.com/sponsor-content/2018/06/when-public-transit
In my opinion, the problem for the US is convincing people/businesses that it’s worth it. Shifting away from cars and increasing investments in public infrastructure are two fairly unpopular measures right now, despite the actual economic evidence being overwhelming positive.
To me, it’s a solid example of where great leaders are needed to do something temporarily unpopular for the long term benefit of the constituents.
The wealthy aren’t paying their fair share and that is something that needs to be corrected. The arguments in favor of progressive tax systems are countless.
It’s important to note that taxing wealth isn’t the same as taxing income. But you can do both and the US has a very well established system for doing so: income when earned and wealth when transferred to the next generation. Unfortunately, both of these systems have been gutted.
I’d love to see these both get their teeth back. Pretty simple really: (1) make progressive income tax rates apply to all income sources and decrease income exclusions/deductions and (2) lower the wealth tax exemptions and clamp down on tactics used to skirt around the exclusion amount (primarily family partnerships). This is basically just returning to policies the US had from about 1950 to 1970, which also was a time of exceptional middle class growth. It’s really not breaking new ground and it’s a proven, sound way to generate widespread economic success while also battling greed and inequality.
We could go a step beyond and do a value-added tax system too, which effectively taxes consumption, but that’s another topic entirely.
That’s a good point, but for Sweden, it is indeed 480 paid days. It’s a government calculation related to your income and there is a point (after 390 days) where it drops to the minimum payout, but it is still paid leave.
There are also government-mandated options in Sweden to receive a slightly lower pay in exchange for working fewer hours. I don’t have the exact details here, but it’s something like 75% pay for 75% hours.
Pretty incredible coverage for new parents in that specific country.
This article has a great summary for a lot of European countries’ parental leave laws. And yeah, quite a few are less than a year of paid leave:
Yes, one quarter of decreased profits. Sales for the same quarter are only down 20%.
Another article says “The company still expects full-year net sales in a range between 23.2 billion euros and 24.6 billion euros, sticking to its forecast.”
I understand that it’s sometimes necessary for companies to trim the fat. But with annual net sales still on track and the company making healthy profits for many quarters running, it sure sucks for those 14,000 people that one bad quarter is being used as the reason that they’ll no longer be able to pay their bills.
https://www.cnbc.com/amp/2023/10/19/nokia-to-cut-up-to-14000-jobs-after-profit-plunges-.html
Yeah, and I have no idea where you are, but this goes far beyond the suspect cities like San Francisco. Not only are many of these workers spread out in tons of cities across the US (and world), it will also hurt wherever their funds were flowing to and the supply chains associated with them. Travel, electronics, food/dining, home furnishings, hobbies of all sorts, etc.
Another big difference is that a lot of these are “new money” people. And I’m not using that in a derogatory sense. It just means that their spending is likely to be much higher than “old money” individuals hitting the same payday.
If you’ve always had $10 million, you don’t go out and start buying shit like crazy even if you make another $2 m. But if it’s your first $2 m, you’re likely to go spend A LOT of it.
And that’s real economic growth. It’s the opposite of trickle-down economics (which just causes more hoarding of wealth and slowing of money exchanging hands).
As much as I feel for the people hit hard right now, I think this is an economic indicator that‘s going to cause many downstream consequences if it continues.
On top of the downward trends by the tech titans, venture capital funding is plummeting. That’s because the VC investors can see that the likelihood of a big successful buyout is decreasing, mostly because the big fish are tightening their belts and facing higher borrowing costs (interest rates).
Many big companies have effectively outsourced R&D, waiting until a startup creates something worth buying instead. Then the VC employees either got a nice payout or employment with the big company (or both).
These often massive transactions were the source of serious economic growth. Those people had stability to spend in a way that many others wish. In the face of crappy outlooks and flat wages in tons of other fields, tech has long been the outlier making plenty of middle income people shoot up in wealth. And it did bring along others for the ride.
That growth drying up is not good for anyone. Well, unless you’re waiting on a market crash.
Under his watch, the financial industry has already experienced vast automation and productivity increases. The coding and connections between financial firms and banks has cut what used to take days into an automated process that takes fractions of seconds… Yet it’s the norm to still work extremely long hours.
It seems disingenuous that this person who has reaped the rewards of this productivity increase without passing the time savings down the chain actually believes shorter work week is likely.
They’ll also use the customer donations in their own marketing materials with carefully chosen wording.
“We put $X in the hands of X charity!” Sounds cute, until you realize why they don’t say they “donated $X” instead. It’s because it’s often not their money or donation.
Why not judge them based on their work and performance? The employer is entirely free to hire or fire someone for how they perform on the job, especially in at will states.
If someone has a drug problem that impacts their performance, get rid of them.
If someone has a drug addiction that doesn’t impact their work, is it really something their employer needs to police?
Especially if you don’t give a flying fuck about using an established process or doing so legally
I know your comment isn’t truly asking, but I want to answer just because there was a time when I used to put a lot of pressure on myself to generate something truly insightful, creative, deep, etc. before voicing my thoughts or opinion. Then I realized you don’t need to do that. I still have a tendency to - and I’m not saying everyone should just voice their loud-ass bullshit without thinking.
You likely have an insight that someone would find interesting, even if it seems entirely obvious to you. Great conversation can sometimes be a very simple volley back and forth of extremely basic observations.
Run with whatever logic this makes your mind go to… even if it’s something like “crazy that people vote to give rich people more money” or another basic interpretation of this. It gets the ball rolling for other people, let’s them put a new spin on it, and may be that little spark needed to create something more impactful.
The worst part is that many of those who fall for this lie are some of the worst off, financially speaking. And they’re often surrounded by people in similar positions.
They know they’re fucked. They’ll watch neighbors lose homes, avoid doctors, go through times when they can’t pay bills, etc.
Then they’ll turn around and vote against their own interests. Against the interests of those they’re close to.
Fucking wild that the propoganda machines are that powerful.
Yep. A giant reason for this whole mess is that the only real representation at the top of corporations are for the shareholders. Executives are elected by the board to do one thing: serve a fiduciary duty to the shareholders.
Workers might be lucky enough to be fed scraps of equity, but even that is rare now.
Not too long ago, corporate leaders in the US had a sense of dignity. They were always better off than most workers, but not by this level. Paying a fair wage to the labor that created the wealth was an intelligent and respected decision.
But a new generation came to power and has changed the whole game. Allowed and even celebrated greed. And instead of taking action to stop this, regulations have become more relaxed and allowed worker rights to erode.
Not exactly what you’ve asked, but I’ve seen and spoke to people about this while traveling.
It absolutely still happens in many places that use more primitive construction methods. I’ve visited places in Belize where locals told me about devastation after hurricanes. It can flatten entire areas, especially the poorest ones. I’ve also witnessed it in parts of Mexico, although steel and concrete construction is much more common. Thatched roofs can be found in certain areas, and of course, people without means still use anything they can get their hands on to build homes - like thin metal sheets. A bad storm can destroy many homes, if not entire communities. Roads wash out and make transportation extremely challenging.
Sometimes people come together to rebuild. It might be as easy as taking down more local trees or gathering the materials that the wind threw everywhere. It’s still a pain, especially when most people capable of laboring would rather be working for income instead of rebuilding their home.
The unfortunate reality of today is that these events often cause mass exodus. People don’t have insurance, and the literal land they have might be the only asset between them and absolutely nothing.
This is when predatory investors can come in, offer pennies on the dollar for land, and grab up large sections for almost nothing. Then the people use whatever they get to try to make a fresh start, quite often in a different location where housing already exists, like the closest city. It would be possible for this to be a mutually-beneficial exchange, but it’s more often predatory as hell with extremely desperate sellers and buyers who don’t offer anywhere close to actual market value in a normal time.
Seeing this devastation makes you quite thankful for things like disaster relief, disaster loans, emergency responses on a large scale, and insurance. None of those programs are perfect, but the alternative is tragic (unless you’re wealthy and don’t care about the well being of others).
It applies to anywhere. The problem isn’t one situation. It’s this same story, repeated thousands of times in every city across the globe.
Bobby wants to live in a house. Monthly rent prices are usually around $1,000 per month in his home town.
Joe wants to make money by renting out a house on AirBnb. Hotel prices are usually around $200 per night in the same location. If Joe rents out his house for just 10 nights a month, he can make $2,000. This easily covers Joe’s expenses and puts the extra cash in his bank account. If he rents it out for 25 nights, he’s putting away a lot of cash.
When houses are up for sale, Bobby can only spend a similar cost as his rent. Joe has been watching his bank account climb and is ready to spend a lot on another house to put on AirBnb. Joe can make a profit even if the house is double the price.
Bobby’s landlord sees housing prices rise. Decides to either (1) increase Bobby’s rent to $2,000 - which he can’t afford or (2) sell the house to someone like Joe for a major markup.
Bobby has to move in with roommates and will never be able to afford to buy a home when competing against all the Joes out there.
Exactly. The IRS has TONS of information on every individual and business. There may be some unreported items, but that’s the exception to the rule.
The IRS has a “transcript” with all of the many reported transactions associated with each person/entity. And you can request this transcript, which many people with complicated tax situations do so they can verify that everything is reported correctly and their records match the IRS data.
https://www.irs.gov/individuals/get-transcript