Aurelia Butler

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    in Economy

    U.S. Congress panel corrects tax rates for wealthy under Biden's proposal

    Under the bill passed last week by the House of Representatives and now being considered by the Senate, those with incomes of $1 million and more would be taxed at an average rate of 33.1%, up from the current 29.9%, the committee said.A previous analysis pegged the proposed average tax rate dropping to 28.2%.For those earning $500,000 to $1 million a year, taxes would fall to 27.2% under the bill, from the current $28.1%, instead of the previously reported reduction to 26.8%.Some Democrats have criticized the $1.75 trillion bill expanding social programs and attacking climate change because it would reduce taxes on some wealthy Americans, even as it would raise them for other high-income earners and corporations to cover the cost of the measure.Representative Jared Golden, the lone Democrat to vote against the House bill, expressed his opposition even with the corrected scoring.”I objected and continue to object to the fact that the single largest part of this bill is a $275 billion tax giveaway to millionaires and the wealthy. Regardless of the net tax change, there’s no excuse for that provision being in this bill,” Golden said on Twitter (NYSE:TWTR).The Democratic bill, which is expected to be opposed by all Republicans in Congress, would loosen a $10,000 cap on the deduction of state and local taxes, known as SALT. The change would mainly benefit wealthy taxpayers in coastal states that are heavily Democratic.The SALT cap was imposed under a tax reform law enacted in 2017 when Republicans controlled Congress and fellow Republican Donald Trump was president.Senate Majority Leader Chuck Schumer is aiming to pass Biden’s domestic investment bill by the end of this year. But first, moderate Democrats, including Senator Joe Manchin, are pushing for some revisions of the House-passed bill. More

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    in Cryptocurrency

    Fed conducted 'policy sprints' around crypto assets to address regulatory clarity

    In a Tuesd announcement, the Board of Governors of the Federal Reserve System said it recently worked with the Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency on a series of “policy sprints” aimed at addressing regulatory clarity in the crypto space. The interagency effort included building a greater understanding of the terminology surrounding crypto assets, identifying potential risks, and analyzing existing regulatory frameworks to determine if any changes were necessary.Continue Reading on Coin Telegraph More

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    in Economy

    Biden Hails Economy, Sees Emergency Oil Release Curbing Fuel Prices

    Investing.com – President Joe Biden on Tuesday hailed the “historic progress” seen in the economic recovery since he took office, and said the move to tap emergency oil reserves would eventually lead to lower fuel prices.     “We’ve made historic progress in the last 10 months,” Biden said, highlighting the 5.6 million jobs created since he took office in January. The president, however, also admitted that there was still work to be done, particularly on efforts to curb inflation.  “Disruptions related to the pandemic have caused challenges in our supply chain, which have sparked concern about shortages and contributed to higher prices,” Biden said.Surging energy prices have added to inflation pressures for many Americans, but Biden said the move to release 50 million barrels of oil from the strategic petroleum reserve would eventually lead to lower fuel prices. “It will take time, but before long, you should see the price of gas fall where you fill up your tank,” Biden added. More

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    in Cryptocurrency

    Anyone Lucky Enough To Mint A Picassol NFT Will Be Living A Different Life.

    We had an exclusive interview with the founders of Picassol. We researched ourselves as carefully as possible to confirm and verify which article has the most accurate facts out of hundreds of top news websites worldwide.A ‘Picassol’ Solana NFT project is the biggest scale project with over six-thousand VIP buyers waiting to purchase an ‘already minted NFTs for possibly’ even up to 8 digits in US dollars for those who are the ‘luckiest’.After an interview with the Picassol founders and carrying out extensive research, it has been confirmed that over six-thousand VIP buyers were mostly the wealthiest individuals, including many billionaires and famous, rich people. “It took almost a year to prepare our private auction,” Picassol CEO commented.Unfortunately, due to a tweet “Who else is waiting? PicasSOL Auction” posted by one of the most famous VIP buyers, more VIP buyers were also exposed because of the attention it brought, pulling out all the incidents for their past eight months.We have reviewed most of the top news websites such as newsbreak, bitcoinist, pinterest, newsbtc, btcmanager, and countless more regarding the Twitter (NYSE:TWTR) incident. These celebrities are already listed on countless top news websites all over the internet. We have also confirmed that the tweet was made sometime in September. The most accurate information regarding the Twitter incident and Picassol can be found in the news article by Dailyscanner.If anyone wants to learn how each ‘minted NFT’ is worth 4 to 8 digits during their private auction, click the link to Dailyscanner, where the journalist only wrote the accurate facts that we also verified and confirmed.Anyone can also visit their website, Twitter, and especially Discord to learn the private auction details.Their mint date is sometime in December 2021, and anyone lucky enough to successfully mint one will be earning the absolute minimum of $9,000 in US dollars. However, the most fortunate 5% of the 4,077 minted NFTs will get sold to VIP buyers for 7-8 digits in US dollars. It seems that about 200 NFTs will be creating many multi-millionaires.It is also possible to mint more than 2 NFTs, which means that some minters might become as wealthy as one of the VIP buyers. All the readers can quickly learn about verified information from the news article that we vouch for. We posted the link in this article so that anyone can visit and learn all the verified facts. After reading Dailyscanner, everyone will have a better understanding of what Picassol NFT is.We were only able to get an exclusive interview with all their founders with a condition to keep their privacy. All we can reveal is that this project is nothing like any other NFT project. Their founders are highly creditable individuals with many offices filled with hundreds of professionals.They wish not to get too much attention for the obvious reasons that anyone can find out once they read the article and visit their Discord’s private auction channel.Everyone will have a chance to mint an NFT successfully. If they don’t win from the lottery, they will get a full refund for all their tickets.Get updated with their announcements from their website, Twitter, and especially on Discord. They have many events on Discord where you could win a free NFT. One of the events is for just being online. At any random time of any lucky day, they give out some free NFTs to online people. Anyone could wake up with a free NFT with about a 95% chance of selling for 4-6 digits and a 5% chance of 7-8 digits in US dollars. Many Wall Street investors are starting to follow Twitter. It is expected that many people will be living a different life after the mint date of Picassol.Continue reading on CoinQuora More

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    in Cryptocurrency

    Building Startups for the Future: DAO Maker Backed Gaming Firm Raises $2M in Funding

    So to turn things around and make fundraising a tad bit more easy for startups, emerged DAO Maker, a decentralized launchpad that brings retail investors into the venture capital game. With the right use of blockchain technology, DAO Maker brings millions of retail investors onto a single platform where they can pool funds and help create futuristic startups for the DeFi ecosystem. In this context, MetaGaming Guild (MGG), a play-to-earn gaming platform backed by DAO Maker managed to raise over $2 million in a recently conducted funding round. This funding round saw the participation of renowned angel investors and companies in the blockchain gaming space and was led by DAO Maker and Ice Tea Labs. These funds will be directed towards the developmental efforts to build one of the most advanced play-to-earn ecosystems. Apart from an enticing gaming platform, MGG is also building an NFT yield generator that offers NFT staking. Users of the platform can buy or rent in-game resources as NFTs to worldwide gamers and earn a sustainable yield. This unique vision attracted traction from the market and since its early days has seen steady growth, maintaining a 50% MoM growth rate. A major part of this growth can be attributed to DAO Maker’s backing and the advanced tools it provides to startups. As of writing, this emergent gaming ecosystem has already managed to bag over 10,000 gamers. DAO Maker is now home to a plethora of such unique startups with market caps of companies raised on this platform touching $6.8 billion. By bringing retail investors to the venture capital market, DAO Maker is poised to transform the DeFi and GameFi industries. Venture Capital for Retail Investors With the absence of retail investors in venture capital, the market has become a monopoly. While it creates new startups every year, this venture capital market is also quite notorious for pushing potential startups into oblivion. The pressure venture-backed businesses face to scale quickly and the unfair acquisitions that follow have created a startup ecosystem that focuses on profits instead of innovations. To end this monopoly, we need retail investors in the venture capital market and it seems as though DAO Maker is among the first few platforms to achieve this feat. DAO Maker uses the security, transparency, and decentralization native to blockchain technology to democratize and revive the venture capital market. Realizing that individual retail investors have varying risk appetites, DAO Maker has created investment products that cater to all risk types. Its signature product venture bond is a near-zero risk investment product that can bring in really high returns for investors. But of course, apart from investors, DAO Maker also caters to the growing needs of startups. Instead of being a mere fundraising platform, DAO Maker aims for the holistic development of startups. Each startup on this platform is equipped with a whole suite of tools that give it the best shot at success. Social Mining, dTeams, and Yield Shield are the most popular tools in DA Maker’s tech stack. These SaaS-based solutions take care of everything from building a team and community to simplifying liquidity acquisition. Startups using DAO Maker’s tech stack are worth more than $16.2 billion on the whole. Building the Future of DeFiThe future of DeFi is highly dependent on the innovations and startups that come out of this space. Startups that solve real problems and proceed with long-term visions are crucial for this space. This is why we need platforms like DAO Maker to ensure that startups with potential are not pushed into oblivion by the monopoly. DAO Maker secures the future of DeFi by ensuring that innovative startups are able to survive and thrive. Along with this, it also opens up the door for millions of investors to contribute to the growth of DeFi and take a share of the profit.Continue reading on CoinQuora More

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    in Economy

    U.S. Senate panel to hold December 1 hearing on FCC nominee

    WASHINGTON (Reuters) – U.S. President Joe Biden’s pick for a seat on the Federal Communications Commission (FCC) will get a Dec. 1 confirmation hearing before the Senate Commerce Committee, as will Biden’s nominee for another key telecommunications post, committee officials said.The committee will consider the nomination of Gigi Sohn – a former senior aide to Tom Wheeler who served as an FCC chairman under President Barack Obama – to an open seat and Alan Davidson, a senior adviser at Mozilla, to head the Commerce Department’s National Telecommunications and Information Administration (NTIA).In October, Biden nominated FCC Commissioner Jessica Rosenworcel for a new term on the five-member commission and designated her chair. The Commerce Committee also plans to vote on her nomination on Dec. 1 after holding a hearing last week.Biden waited more than nine months to make nominations for the FCC, which has not been able to address some key issues because it currently has one vacancy and is split 2-2 between Democrats and Republicans.The FCC under Obama, Donald Trump’s predecessor, adopted net neutrality rules in 2015 barring internet service providers from blocking or throttling traffic, or offering paid fast lanes.”Now more than ever, Americans actually need net neutrality,” Democratic Senator Ed Markey said.Without being confirmed to a new term, Rosenworcel would need to leave the FCC next month.Last week, Rosenworcel told senators she backed net neutrality rules, but offered few details on how she might move to reverse their 2017 rollback. The NTIA, the executive branch agency principally responsible for advising the White House on telecommunications and information policy issues, will oversee more than $42 billion in funding approved this month by Congress to expand internet access. More

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    in Economy

    Dollar Tree raises most prices to $1.25 as inflation sweeps retail sector

    Rapid inflation in the US economy has reached Dollar Tree, the discount store chain known for its “Everything’s $1” slogan, which on Tuesday announced it would raise prices for most merchandise to $1.25. The US retailer plans to raise prices in more than 2,000 stores in December and complete the $1.25 rollout in all of its nearly 8,000 stores by the end of its first fiscal quarter next year. Dollar Tree sells a wide variety of household items, from paper plates to toothbrushes to Christmas decorations. Supply chain bottlenecks have pushed up the cost of manufacturing and shipping goods in the US. Many retailers have been passing those higher costs to customers, pushing consumer prices up 6.2 per cent in October, their fastest annual pace in three decades. New York-listed Dollar Tree cited “historically-high merchandise cost increases, including freight and distribution costs, as well as higher operating costs, such as wage increases,” as it announced the price increases. “For 35 years, Dollar Tree has managed through inflationary periods to maintain the everything-for-one-dollar philosophy that distinguished Dollar Tree,” the company said. However, “this is the appropriate time to shift away from the constraints of the $1.00 price point in order to continue offering extreme value to customers”, it added. Dollar stores have sprung up across the US in response to demand from budget-conscious shoppers even as other brick-and-mortar chains shift their focus to ecommerce. Dollar Tree, which including its separate Family Dollar chain operates more than 15,900 total locations, competes with rivals including Dollar General, which sells goods at a variety of price points at more than 17,000 locations.

    Dollar Tree said the move to $1.25 will allow stores to carry a wider array of merchandise, noting that in the past, some popular items had to be discontinued because they could no longer be sold for $1. The price change comes after a test phase introduced in September, which has since been introduced to 200 more stores. When Dollar Tree polled shoppers, 77 per cent said they were almost immediately aware of the price increase, according to the company. But 91 per cent of those surveyed indicated they would continue shopping at Dollar Tree with the same frequency or more.“Guided by Dollar Tree’s same founding principles, we will be relentless in our commitment to offer our customers the best value possible,” said Michael Witynski, Dollar Tree chief executive. Dollar Tree’s third-quarter financial results showed that net sales grew 3.9 per cent year on year in the three months to the end of October, while profits fell as freight costs proved higher than anticipated.The company’s shares rose 6.2 per cent to $140.84 at midday in New York.The price increase “is permanent and is not a reaction to short-term or transitory market conditions”, Dollar Tree said. The company noted that it believes much of the current freight challenges are temporary. More