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For the first time in the history of the United States, billionaires had a lower effective tax rate than working-class Americans. Opinion Guest Essay Make Billionaires Pay (Their Taxes)Until recently, it was hard to know just how good the superrich are at avoiding taxes. Let’s agree that billionaires should pay income taxes equivalent to a small portion — say, 2 percent — of their wealth each year. Billionaires who already pay the baseline amount of income tax would have no extra tax to pay. The idea that billionaires should pay a minimum amount of income tax is not a radical idea.
Persons: Emmanuel Saez, Gabriel Zucman, we’ve, Demetrio Guzzardi, Jeff Bezos, Bezos, Berkshire Hathaway, Warren Buffett, Elon Musk, Bernard Arnault, Arnault’s, Arnault, Reagan, Critics, haven’t, Biden Organizations: Government, Social Security, European Economic Association, Institut des Politiques, Economic, Amazon, Elon, Twitter, Shepard, Getty, Trump, Internal, Abaca, New York, Facebook Locations: United States, Netherlands, States Netherlands Italy France, Italy, France, Tesla, LVMH, America, Europe, Sweden, Germany, Switzerland, U.S, Brazil, South Africa, Spain
The newly combined company also landed a $17 million Series A led by 7wireVentures. The venture firm is an existing investor in SameSky Health. Health insurance giant Elevance Health, formerly known as Anthem, an existing investor in GroundGame Health, also participated in the round. By addressing these barriers together, GroundGame CEO Susan Rawlings Molina said, GroundGame and SameSky can help more patients access healthcare while saving money for payers. While SameSky's technology can help underserved patients seek out care, GroundGame can close the loop by removing barriers to their access to that care, she said.
Persons: , 7wireVentures, Susan Rawlings Molina, Molina, we're, SameSky, GroundGame, they're, Lee Shapiro, Alyssa Jaffee, Robert Garber, Glen Tullman, haven't, Abner Mason, Garber Organizations: Service, SameSky, Business, Health, 7wireVentures Industry Locations: Health, healthtech, SameSky
Change Healthcare offers payment and revenue cycle management tools, and other solutions such as electronic prescription software. On Feb. 21, UnitedHealth Group , which owns Change Healthcare, discovered that hackers compromised part of the unit's information technology systems. UnitedHealth told CNBC earlier this month that there is "no evidence of any new cyber incident at Change Healthcare." It's just one of the ways Change Healthcare touches cash flow within the health-care sector. A controversial mergerSheldon Cooper | Sopa Images | Lightrocket | Getty ImagesUnitedHealth's ownership of Change Healthcare has raised eyebrows from the outset.
Persons: Omar Marques, Dr, Angeli Maun Akey, Akey, she's, UnitedHealth, I've, Andrew, Mike Bradley, Barbara McAneny, McAneny, Sarah Carlson, Carlson, Sheldon Cooper, Optum, Michael Nagle, Tyler Kisling, Kisling, he's, There's, it's, Purvi, Parikh hadn't, they've, Amit Phull, Phull, Igor Golovniov Organizations: Lightrocket, CNBC, Healthcare, UnitedHealth, U.S . Securities, Exchange Commission, Change, Inc, Bloomberg, Getty, U.S, American Medical Association, AMA, U.S . Department of Justice, DOJ, U.S . Department of Health, Human Services, Wall Street, New York Stock Exchange, Change Healthcare Locations: Gainesville , Florida, U.S, Minnetonka , Minnesota, UnitedHealth's, New Mexico, Boulder , Colorado, California, New York City, UnitedHealth
A federal judge in New Jersey on Monday rejected Johnson & Johnson 's and Bristol Myers Squibb 's legal challenges to the Biden administration's Medicare drug-price negotiations, ruling that the program is constitutional. J&J and Bristol Myers Squibb did not immediately respond to requests for comment on the ruling. J&J, Bristol Myers Squibb, Novo Nordisk and Novartis presented their oral arguments before Quraishi during the same hearing in March. That same month, a federal judge in Delaware rejected AstraZeneca's separate lawsuit challenging the negotiations. In Texas, a third federal judge tossed a separate lawsuit in February.
Persons: Johnson, Bristol Myers, Joe Biden's, Zahid Quraishi, Quraishi, Bristol Myers Squibb's, AstraZeneca's Organizations: Bristol, Bristol Myers Squibb, Biden, White, Supreme, Final, of New, Novo Nordisk, Novartis, Chamber of Commerce Locations: New Jersey, U.S, of New Jersey, Delaware, Texas, Ohio
A growing group of America's young people are not in school, not working, or not looking for work. They're called "disconnected youth" or "opportunity youth," and their ranks have been growing for nearly three decades. Experts say it's not just work and school; this group is often also disconnected from a sense of purpose. Palmer added that those with limited access to transportation, people with disabilities, and young parents were also more susceptible. Disconnected young people don't have that luxury."
Persons: , Destiny, She's, she's, They're, Kristen Lewis, Lewis, hadn't, there's, Sen, Tim Kaine, who's, Joseph, he's, hasn't, he'd, Ashley Palmer, Palmer, Sarah Nunley, Nunley, Veronica, There's, Lucchesi, they're Organizations: Service, Business, Federal Reserve Bank of Dallas, Social Science Research Council, Survey, University of Minnesota's, National Center for Education Statistics, Walmart, Texas Christian University, Ivy League Locations: Florida, Alabama, Indiana, Silicon Valley, YOLO, Texas
Andrew Cuomo, after being subpoenaed last month, has agreed to testify to Congress about his controversial nursing home advisory from the early days of the Covid-19 pandemic, Rep. Brad Wenstrup told CNN’s Jake Tapper on Friday. Cuomo has insisted that advisory was consistent with guidance from the Centers for Medicare and Medicaid Services and the Centers for Disease Control and Prevention. However, his upcoming appearance before lawmakers is a sign of continuing scrutiny over his handling of long-term care facilities during the pandemic. The voluntary agreement means that Cuomo will participate with a transcribed interview rather than a deposition. Wenstrup told Tapper on Friday that the panel will also hear from Cuomo’s former secretary Melissa DeRosa and former commissioner of the New York State Department of Health Dr. Howard Zucker.
Persons: Andrew Cuomo, Brad Wenstrup, CNN’s Jake Tapper, “ Governor Cuomo, ” Wenstrup, “ I’m, Cuomo, Wenstrup, Rich Azzopardi, , Letitia James, New York State Department of Health undercounted, Thomas DiNapoli, Tapper, CNN’s KFile, Melissa DeRosa, Howard Zucker, James ’, CNN’s Veronica Stracqualursi, Kaanita Iyer Organizations: CNN, Former New York Gov, Ohio Republican, Democratic, Centers, Medicare, Services, Centers for Disease Control, New York, New York State Department of Health Locations:
This story is available exclusively to Business Insider subscribers. As the main income earner for her household, Tobias works to support her 19-year-old son, her fiancé, and her fiancé's mother. Advertisement"I make too much to get help," she told Business Insider. AdvertisementAnd, guaranteed basic-income programs — which are being tried in cities across the US — typically only apply to families living below the poverty line. Tobias works full-time but struggles to afford utilities and healthcareElectricity and mortgage bills are Tobias' top expenses.
Persons: , Cherie Tobias, hasn't, Tobias, ALICE, Applebee's doesn't Organizations: Service, Business, Survey, United Way's Locations: Hastings , Michigan, Michigan
The U.S. Senate has launched an investigation into the high price of Novo Nordisk 's popular weight loss and diabetes drugs Ozempic and Wegovy in the United States. "As important as these drugs are, they will not do any good for the millions of patients who cannot afford them," wrote Sanders. Wegovy, which is even more expensive than Ozempic, is subject to similarly disparate pricing overseas, wrote Sanders. The powerful progressive senator also made a simple request of the drug company CEO: "Will Novo Nordisk substantially reduce both the list price and the net price of both Ozempic and Wegovy?" He gave Novo Nordisk until May 8 to answer a series of questions about the drug's pricing.
Persons: Ozempic, Danish drugmaker, Sen, Bernie Sanders, Sanders, Lars Fruergaard Jørgensen, Jørgensen Organizations: U.S . Senate, Novo Nordisk, Vermont Independent, Health, Education, Labor, Pensions, Nordisk Locations: United States, Danish, Vermont, Canada, Germany
CNN —The Supreme Court’s hearing Thursday on former President Donald Trump’s immunity claim will underline a historic power shift. Trump’s relationship has been complex with the court’s conservative majority – despite his instrumental role in establishing it. In sharp contrast, the court’s conservative majority has exerted its influence year after year, without interruption. “There is just much more intense vetting of Supreme Court justices,” said Pierson. “You can tell by the results of the court decisions over the past several years that it is fundamentally different.
Persons: Donald Trump’s, , , Jeff Shesol, Franklin D, John Roberts, Amy Coney Barrett, Ruth Bader Ginsburg, Paul Pierson, , Barack Obama’s, Roberts, Joe Biden, Trump, they’ve, Michael McConnell, Jack Smith, Gore, outvoted, George W, Bush, MAGA, Michael Waldman, ” Waldman, Bill Clinton, Richard Nixon, Nixon, Waldman, ” McConnell, McConnell, Sandra Day O’Connor, Anthony Kennedy, Ronald Reagan, David Souter, George H.W, Pierson, Obama, Brett Kavanaugh, Barrett, Cecilia Munoz, Biden, “ It’s, Samuel Alito, Clarence Thomas, Clinton, ” Shesol, FDR, Shesol Organizations: CNN, White House, GOP, Republican Party, Trump, Republicans, University of California, Democratic, House, White, Constitutional, Center, Stanford University Law School, Brennan Center for Justice, New York University School of Law, Senate, Republican, Federalist Society, Alabama, Electoral, Citizens, Constitutional Law Center, New, Great Society Locations: Berkeley, Manhattan, Florida, , George H.W . Bush, Shelby County
Small businesses are seeing labor growth this year, but hospitals still have staffing shortages. Healthcare worker numbers are steadily growing but remain below pre-pandemic trends, according to a Bank of America report published in April. Outpatient care centers are 9.4% behind on growth, while the hospital labor force has seen small gains at 0.3%. In fact, healthcare workers made up a significant portion of the people leaving their jobs during the Great Resignation. Patients will still see labor shortages in ERs and care facilitiesDespite labor gains, patients could still experience the impacts of the physician shortage.
Persons: , Per, KFF Organizations: Service, Bank of America, The Bank of America Institute, of Labor Statistics, Centers, Medicare, Services, Kaiser Family Foundation, American Hospital Association, of America, Peterson Center, Healthcare, of Health, Bank of
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewA woman who suffered a brain injury after falling from a seaside pier lost out on $750,000 in compensation after she was found to be "thoroughly dishonest" in her claim, said a judge. In the US, an estimated $308.6 billion annually is lost to insurance fraudulent insurance claims, according to Forbes. Healthcare insurance fraud (including Medicaid and Medicare insurance fraud) is the most common type, estimated at $105 billion annually. But Ritchie said that "overall" he found Williams-Henry to have been "dishonest and manipulative," so he could dismiss the case.
Persons: , Kirsty Williams, Henry, Williams, division's, Ritchie, Christel Williams, Ms Williams Organizations: Service, Aberavon Pier, Business, British Ports Holdings, Forbes . Healthcare Locations: Cardiff
Adderall supply issues, which began in October 2022, are making the medication more expensive. The Biden Administration said it's focused on strengthening manufacturing supply chains for Adderall. AdvertisementIt's been 18 months since the US Food and Drug Administration announced an Adderall shortage. The prescription fill rate for ADHD medications fell from 44.5% in December 2022 to 40.7% in February 2023, the study found. Have you been impacted by the Adderall shortage or high prescription drug costs?
Persons: it's, , It's, Biden, Biden's, Joe Biden's, Adderall —, aren't, Dr, David Goodman Organizations: Biden Administration, Service, Food and Drug Administration, KFF, Kaiser Family Foundation, Business, Drug, Biden's Administration, Department of Health, Human Services, Defense, FDA, CNN, USA, DEA, USA Today, Johns Hopkins University, Medscape Medical, Government
Grateful for treatment, he jokes with the medical intern each morning. We both work as internists at a public hospital in the medical safety net, a loose term for institutions that disproportionately serve patients on Medicaid or without insurance. You could describe the safety net in another way, too, as a place that holds up a mirror to our nation. That the medical care the patient is receiving exceeds the cost of a year’s rent makes no practical difference. We needed to coin a phrase because so many of our patients die of the same thing.
Persons: he’ll, He’d, He’s Locations: San Francisco
Research shows that Black women and women of lower socioeconomic status are more likely to die from breast cancer. The earlier breast cancer is caught, the easier it is to treat, according to the National Breast Cancer Foundation. Routine screening mammograms have been shown to reduce breast cancer deaths by 22%, Houry said in a news conference. However, these new findings show that other health-related social needs also play a role, Miller said. “Health care providers can now assess whether women have health-related social needs and help women get the services they need.
Persons: Dr, Debra Houry, Houry, Jacqueline Miller, Miller, ” Miller, Sanjay Gupta, Lisa C, Richardson, ” Houry, , Organizations: CNN, Centers for Disease Control, Health, Research, CDC, National Breast Cancer Foundation, US Preventive Services Task Force, Medicare, Services, CNN Health, CDC’s Division of Cancer Prevention Locations: United States, Rhode Island, Wyoming, CDC’s
Cities like San Antonio, Austin, Denver, Boston, and Minneapolis have turned to basic-income pilot programs to explore ways to reduce those poverty levels. Republicans in Texas, Arizona, Iowa, and South Dakota are making efforts to ban GBI programs at the municipal and state level. AdvertisementStates and cities sometimes fund basic-income programsMany basic-income programs receive funding directly from state and local governments. Nonprofits and philanthropy play a key role in basic-income fundingOther basic-income programs are organized through a nonprofit, or receive funding from foundations and private donors. Along with funding cash payments, the Economic Security Project said that philanthropic donations can help a GBI programs pay for income policy research.
Persons: , Monique Gonzalez, John Gillette, Flint, Joe Biden, Jack Dorsey, UpTogether Organizations: Service, Economic Security, Business, SNAP, Republicans, BI, American, ARPA, Chicago's Department of Family, Support Services, Mayors, Georgia Resilience, GRO Fund, Colorado Trust Locations: Cities, San Antonio, Austin, Denver, Boston, Minneapolis, Texas , Arizona , Iowa, South Dakota, Arizona, California, Los Angeles, San Francisco, Sacramento, Michigan, Massachusetts, Texas, Chicago, Somerville , Massachusetts, GBI, Harris, Houston, Georgia, Atlanta, Colorado
AdvertisementCities that offer financial support to low-income families could see a decline in child abuse rates, researchers say. Welfare referrals can stem from suspected physical harm of a child, sexual abuse of a child, or situations where a child isn't given basic necessities. Economic stress creates risk factors for abuseDarwiche is a pediatrician at the Children's Hospital of Philadelphia and specializes in cases of child abuse. Financial safety nets could reduce child neglectDarwiche called income support a prevention strategy for child abuse. Child tax credits, similarly, allow some families to rise out of poverty by offering ongoing financial relief to adults with dependents.
Persons: , Dr, Sabrina Darwiche, Darwiche, hospitalizations, Zoe Bouchelle, Bouchelle Organizations: Service, Children's Hospital, Philadelphia's, Children's Hospital of Philadelphia, Financial, SNAP, Denver, Biden Administration, ARPA, Denver Health, Children's Locations: America, San Antonio, Austin
She has health insurance, but couldn't afford to pay the $1,800 cost of her insulin pump prescription, she said. And, Gen Zers reported avoiding medical appointments at more than twice the rate of boomers. Over a quarter of Gen Zers and millennials, however, say they do not have sufficient coverage to meet their needs, per the report. Because Gen Zers and some millennials are newer to the workforce, many of them are working these entry-level roles. Eight in 10 Gen Zers also said they are stressed on a daily basis — more than other generations, the report found.
Persons: , Zers, Grace Cochran, Cochran, millennials, Gen Xers, Gen Zers, aren't Organizations: Service, Wakefield Research, Federal
Just over 2% of applicants to a Houston-area guaranteed income program were accepted — a lower acceptance rate than Harvard or Yale. Starting this month, 1,928 families will receive $500 a month, no strings attached, through Uplift Harris, a guaranteed income program in the Texas county that includes Houston. A majority of participants selected live in high-poverty ZIP codes and have a household income below 200% of the federal poverty line. Some participants were selected through the county's Accessing Coordinated Care and Empowering Self Sufficiency program which helps vulnerable residents improve outcomes. The pilot has been met with opposition from politicians including Texas State Sen. Paul Bettencourt, who in January sent a letter to the state attorney general concerning whether counties can legally enact guaranteed income programs.
Persons: Dustin Palmer, AidKit, Palmer, GiveDirectly, We've, Texas State Sen, Paul Bettencourt, Bettencourt, I've, it's Organizations: Service, Harvard, Yale, Business, American, SNAP, Texas State, Houston Public Media, Austin Locations: Houston, Uplift Harris, Texas, Harris, Harris County, West Harris County
Interest in universal basic income has grown due to the pandemic, Elon Musk, Sam Altman, and economic pain. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementYet a common question and concern about UBI remains how people spend the money. Related storiesThe Guaranteed Income Pilots Dashboard , a joint project from the Stanford Basic Income Lab and the Center for Guaranteed Income Research, pulls together data from more than 30 pilot programs in the US involving nearly 8,300 participants. GiveDirectly, a nonprofit, is providing universal basic income to 20,000 people across 200-odd royal villages in Kenya over 12 years.
Persons: Elon Musk, Sam Altman, , It's, Karl Widerquist, Fabian Wendt, Rebecca Hasdell, UpTogether, Monique Gonzalez, Stephanie Hendon, Widerqist, Matt Bruenig, Douglas MacKay, Chapel Hill, MacKay Organizations: Service, Georgetown University, Qatar, Stanford, Income, Center, Research, UNC, Chapel Locations: Virginia, Kenya, San Antonio , Texas
PVH — Shares of the Calvin Klein and Tommy Hilfiger parent tanked more than 21% on weak revenue guidance for the first quarter and full year. Humana , UnitedHealth — Health insurance managed care stocks declined after the Center for Medicare and Medicaid Services announced rates for the 2025 calendar year will increase 3.7%, as previously proposed. Humana shed 9.6%, while CVS Health tanked 5.3%. GE Aerospace — General Electric shares ticked higher by 0.6% after the company completed spinning off its energy business from its aerospace business. GE Vernova will begin trading on the New York Stock Exchange at market open under the ticker GEV, while General Electric — which becomes GE Aerospace — will keep the GE ticker symbol.
Persons: Calvin Klein, Tommy Hilfiger, Estee Lauder —, Estee Lauder, Blackstone — Blackstone, , Sarah Min, Hakyung Kim, Jesse Pound Organizations: Center, Medicare, Services, CVS, UnitedHealth, Citi, Blackstone, UBS, Trump Media, Technology, Truth, Bank of America, GE Aerospace — General Electric, GE Vernova, New York Stock Exchange, General, GE Aerospace, GE, SLB Locations: Europe
Tesla — Tesla shares sank more than 6% after the electric vehicle maker reported an 8.5% year-over-year decline in deliveries in the first quarter. GE Vernova — Shares jumped more than 3% after GE Vernova started trading on the New York Stock Exchange on Tuesday under the ticker "GEV," following its spinoff from General Electric. Shares of GE Aerospace , which was formerly General Electric and is keeping the "GE" ticker symbol, gained roughly 1%. Figs — Shares of the health-care apparel maker slipped 6.2% following a Bank of America downgrade to underperform from neutral. Horton — The homebuilder's shares slipped 3.7%.
Persons: PVH, Calvin Klein, Tommy Hilfiger, Blackstone, Nextracker, Horton —, Wedbush, Horton, Brent Bowman, Tim Cabral, , Sarah Min, Alex Harring, Samantha Subin Organizations: GE, , GE Vernova, New York Stock Exchange, General Electric, GE Aerospace, SLB, CVS, Health, Medicare, Medicaid Services, CVS Health, UnitedHealth, Endeavor, Silver, Blackstone —, UBS, Barclays, Bank of America, Veeva Locations: Europe, D.R
The Department of Health and Human Services said on Monday that hospitals must obtain written informed consent from patients before they undergo sensitive examinations — like pelvis and prostate exams — especially if the patients will be under anesthesia. A New York Times investigation in 2020 found that hospitals, doctors and doctors in training sometimes conducted pelvic exams on women who were under anesthesia, even when those exams were not medically necessary and when the patient had not authorized them. Sometimes these exams were done only for the educational benefit of medical trainees. “The Department is aware of media reports as well as medical and scientific literature highlighting instances where, as part of medical students’ courses of study and training, patients have been subjected to sensitive and intimate examinations,” the letter said. “It is critically important that hospitals set clear guidelines to ensure providers and trainees performing these examinations first obtain and document informed consent.”
Persons: Organizations: of Health, Human Services, New York Times, Health, department’s Centers, Medicare, Services, Civil Rights
Traders work on the floor of the New York Stock Exchange on April 1, 2024. Futures tied to the S&P 500 were little changed Monday night after the broad market index and the Dow Jones Industrial Average slipped to begin April. S&P 500 futures and Nasdaq 100 futures each dipped lower by less than 0.1%. Futures tied to the 30-stock Dow slipped 118 points, or 0.3%, as shares of UnitedHealth fell. To conclude Monday's session, the Dow fell nearly 241 points, or 0.6%, while the S&P 500 slid 0.2%.
Persons: Dow, UnitedHealth, David Miller, Organizations: New York Stock Exchange, Dow Jones, Nasdaq, Medicare, Services, Humana, CVS Health, Federal Reserve, Catalyst Capital Advisors, CNBC, Labor, Survey Locations: UnitedHealth
With basic income, Sullivan said she has been able to pay for food, buy gas for her car, and achieve her goal of renting a house. The GBI money was the help she needed to afford a deposit and first and last month's rent. She added that the element of choice is what made basic income more helpful for her than other support programs. Some lawmakers have called basic income socialist and raised concerns that it makes people too reliant on the government. Going forward, Sullivan said she is committed to helping other families like San Antonio basic income helped her.
Persons: , Ingrid Sullivan, Sullivan, they've, GBI, It's, UpTogether Organizations: Service, Business, BI, UpTogether Locations: San, Antonio, Denver, Houston, Boston, Minneapolis, Austin, Harris County , Texas, Durham , North Carolina, San Antonio's, San Antonio, Arizona , South Dakota , Iowa, Texas
Opinion | The Great Tension Inside the Trump G.O.P.
  + stars: | 2024-03-29 | by ( Ross Douthat | ) www.nytimes.com   time to read: +2 min
How might these commitments be paid for if these pro-government Republicans had their way? A different poll, from Bloomberg and Morning Consult, suggested one possible answer: Surveying voters in seven swing states, it found that 58 percent of self-described conservative Republicans strongly or somewhat supported raising taxes on Americans making $400,000 or more a year. These populist perspectives — tax the upper class and spend on health care and income support — aren’t especially surprising, given the Republican Party’s slow transformation into a more downscale coalition, a process in which it has gained blue-collar and non-college-educated supporters and lost affluent suburbanites to the Democratic Party. But good luck finding evidence of this populist transformation in the party’s current policy proposals. Consider, for instance, the latest budget proposal from the Republican Study Committee, the conservative House caucus that claims about 80 percent of Republican representatives as members.
Persons: Newt Gingrich, Paul Ryan Organizations: American Compass, Republican, Social Security, Republicans, Bloomberg, Morning, Democratic Party, Committee, House, Trump
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