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Explore the contentious debate between Democrats and Republicans over IRS funding, as well as the potential of AI to enhance tax revenue collection while minimizing unnecessary costs. Discover how these perspectives intersect and diverge in the pursuit of a fair and efficient tax system.
After years of creating and perfecting his hot honey recipe at home, Mike Kurtz brought in a bottle to show his boss, Paulie Gee, while serving as his pizza apprentice. Paulie loved it, and the unique topping quickly became a hit. From there, demand grew and what had started as a hobby for Mike, suddenly picked up steam and is now a full-blown company bringing in $40 million a year.
Global supplies of rice are facing its most significant shortage in two decades, exacerbating food insecurity fears. Rice is a staple food for over half the world’s population. India’s export bans sent shockwaves through markets as some argue the country is using food as a political pawn. America’s $34 billion rice industry must compete against the same market uncertainty while managing droughts, floods and changing temperatures. Watch this video to learn more about how global rice markets influence food security, geopolitics and the livelihoods of millions of farmers.
China’s real estate industry is collapsing in slow motion. Major developers like Evergrande and Country Garden remain stuck in spiraling debt problems. So-called ‘ghost cities‘ dot the Chinese countryside. And now the International Monetary Fund just cut its global growth forecasts for 2024 and called out China’s real estate crisis as a big reason why.
Explore the economic impact of Universal Basic Income (UBI) and traditional welfare programs in this comprehensive article. Discover the advantages and disadvantages of each approach in addressing income inequality, work incentives, and administrative efficiency.
The “Halftime Report” traders give their top picks to watch for the second half.
Micron, Samsung and SK Hynix are responsible for making 90% of the world’s DRAM memory chips, and Micron is the only one based in the U.S. That’s made it the latest target of bans from China. Yet Micron is spending $115 billion to build the biggest chip project in U.S. history. CNBC visited Micron in Idaho and talked to Gov. Kathy Hochul in New York to hear about the new fabs. We also asked Senate Majority Leader Chuck Schumer about Micron ahead of his meeting with Chinese President Xi Jinping.
Some firms sustain their businesses by taking on more debt that they likely could never repay. Economists call them zombie companies. When compared to their peers, zombies are smaller in size and deliver lower returns to investors. These companies distort markets, keeping resources from their fundamentally sound competitors. Banks and governments keep zombie firms alive with bailout loans. As the Fed resets the economy with higher interest rates, many zombie firms are filing for bankruptcy.
Janie Deegan, 35, was homeless and battling addiction a decade ago. Now, she’s 10 years sober and the owner of Janie’s Life-Changing Baked Goods, a bakery that brought in over $1 million in 2022. The bakery is famous for its pie crust cookies, which ships across the U.S. and are available at retail locations in New York City.
More than 80% of newly-built single-family homes sold in 2022 belonged to an HOA, according to the U.S. Census Bureau. HOAs tout themselves as a value-add to homeowners, specifically when it comes to maintaining high property value, but not everyone is pleased with HOAs. Fifty-seven percent of homeowners surveyed said they disliked living in an HOA with more than 3 in 10 homeowners saying they feel like the HOA has too much power.
While traditionally, canned tuna was known to be a staple in American homes, consumption rates have fallen dramatically in the past couple of decades. Since 2000, per capita tuna consumption dropped 45.7%. That’s largely due to shifts in consumer preferences, but also a larger awareness around the industry’s steep market consolidation, issues around sustainability and transparency, and a major price-fixing scandal that lasted for years. In 2015 and 2019, Bumble Bee and StarKist were fined $25 million and $100 million respectively by the Department of Justice. Still, in 2020, the U.S. imported about 637.9 million pounds of tuna, 71% of that canned, the most of any country in the world. The industry is dominated by a few multinational conglomerates, the largest being Thai Union Group, also the owner of Chicken of the Sea. In 2020, the industry saw a significant rise in canned tuna demand, fueled by the Covid-19 pandemic as Americans turned to this affordable, protein-rich food. However, that rise has since gone back down.
Explore the comparative analysis of Universal Basic Income (UBI) and traditional welfare programs in the context of economic security, administrative efficiency, work incentives, poverty reduction, and stigmatization. Discover the advantages and drawbacks of each approach to inform the debate on social safety nets.
Discover why ‘Minimal Cash Flow Stimulus’ is gaining momentum in the US. Learn how this innovative concept offers economic stability, simplifies welfare, promotes entrepreneurship, and even enables more people to invest in stocks.
The official U.S. poverty rate in 2022 “remained stable compared to 2021,” but an alternative method of measuring poverty “increased significantly, reflecting changes in economic well-being following the end of many pandemic-era programs,” the Census Bureau says in a new report.
While the minimum wage may seem like a logical solution to income inequality, it places an undue burden on small businesses and may not guarantee a living wage. Instead, we need to consider Universal Basic Income (UBI), which provides financial stability for citizens and empowers them to negotiate fair compensation with their employers. UBI also gives citizens something that minimum wage never can – time – to pursue education or start a business.
The idea of reparations for the black community has been a topic of discussion for years. While it is a warranted concept, it is not practical financially or in terms of an implementation strategy. A better solution would be a Universal Basic Income (UBI) as it relatively benefits the poorest communities, which are often dominated by blacks.
In her speech nominating Rep. Jim Jordan as House speaker, Rep. Elise Stefanik distorted the facts about U.S. energy production and the reasons for higher gasoline prices and utility bills.
Steve Odland, president and CEO of The Conference Board, and CNBC’s Steve Liesman join ‘The Exchange’ to discuss retail sales coming in higher than expected, disparity between consumer sentiment and consumer data, and strong consumer data increasing the probability for a Fed hike in January.
In August 2023, it took about twice as long to sell an EV in the U.S. as it did the previous January. Prices of EVs are down 22% year-over-year and that’s mainly driven by Tesla. About two thirds of EVs sold are Elon Musk’s brand. Companies like Ford have ramped up hybrid production as demand has leveled off. While slightly more than half of consumers say EVs are the future and will eventually replace Internal Combustion Engines, less than a third of dealers say so. This all comes at a time when investments in EVs are more than ever. So what’s really going on? Watch the video to learn more.
The “Halftime Report” traders give their top picks to watch for the second half.
