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☆ MDMA therapy could be legalized by summer. Why are so many advocates sounding the alarm?
▼ + stars: | 2024-05-13 | by ( Anna Silman | ) www.businessinsider.com time to read: +52 min

Last summer, thousands of tie-dyed Burners and Patagonia-clad tech founders converged on the MAPS Psychedelic Science conference in Denver. The experience "broke the spell of this trauma, and she was able to rebuild her life," Doblin told The Guardian . The video team's job was to store recordings of every MDMA therapy session performed in the clinical trials. Grof believes in something called an "inner healing intelligence," an innate capacity for self-healing that psychedelic therapy helps unleash. Another time, a patient who had come to an MDMA therapy session later acknowledged they had been under the influence of LSD during treatment.

Persons: Jaden Smith, Aaron Rodgers, bro, Andrew Huberman, Rick Doblin, Doblin, mainstreaming psychedelics, influencers, Johnson, Elizabeth Nielson, Aubrey Marcus, ayahuasca, Matthew Stockman, Helena —, Timothy Leary, —, Hitler, Stanislav Grof, zombified, Brad Burge, Michael Mithoefer, Annie Mithoefer, Oprah, Sen, Joe Biden, MDMA's neurotoxicity, they'd, Albert Hofmann, David Bronner, Dr, Joe's, Bronner, Bronner's, Richard Rockefeller, John D, Rockefeller Jr, Rockefeller, Neşe, Johns Hopkins, who's, Devenot, Rick Friedman, Betty Aldworth, MAPS's multimillionaire, Tim Ferriss, Cody Swift, Zendo, Aldworth, Erica Siegal, Seth Whitelaw, Amy Emerson, JULIE JAMMOT, Ifetayo Harvey, Harvey, Lauren Unger, Unger, Casey Hardison, Harvey didn't, Hardison, Doblin's, Baylee Ybarra Gatlin, Gatlin, negligently, There's, Michael Pollan's, Steve Jurvetson, Elon Musk's who's, Genevieve, Steve Cohen, Alexandra, Mark Zuckerberg's, Dustin Moskovitz, Cari, Gwyneth Paltrow, Paltrow, Sergey Brin, Joe Green, Green, Zuckerberg, Genevieve Jurvetson, Michael Pollan, Jonathan Lubecky, he'd, Rebekah, Robert Mercer, Elizabeth Koch, Charles Koch, Rachel Nuwer, Koch, she'd, MAPS's, Elizabeth Crystal, Joe Rogan, didn't, Jesus Christ, Crystal, Meaghan Buisson, Richard Yensen, Donna, Yensen, Buisson, weren't, Robert, Rebekah Mercer, Sean Zanni, Grof, They've, Kayla Greenstien, it's, George Sarlo who'd, Vicky Dulai, Sarlo's, Dulai, Gul Dolen, Michael Mullette, who'd, Marla Aufmuth, Mullette, Lily Kay Ross, David Nickles, Ross, Greenstien, Rick, Lenny Ignelzi, biostatisticians, Lykos, Peter Thiel, Kara Swisher, Kris Lotlikar, Federico Menapace, Mo Septimus, Handout, Monnica, Williams, Lotlikar, Henry Elkus, Helena ., Elkus, Emerson, ICER Organizations: Science, New York Jets, rockstar, Multidisciplinary Association for Psychedelic Studies, Lykos Therapeutics, and Drug Administration, FDA, Business, Florida's New College, Jewish Telegraphic Agency, Sarasota Herald, Tribune, New College, Guardian, Drug, Harvard's Kennedy School of Government, eBay, Nevada, Doblin, Pentagon, Department of Veterans Affairs, Department of Defense, Staff, Corporation, PBC, pharma, New Yorker, New York Mets, Bloomberg, CBS, Breitbart, CBC News, BI, Porsche, Santa Cruz, New York Times, longtime, Mullette Corporation, New York, Health Canada, Compass, Sciences, Psychedelic Science, Whole Foods, McKinsey, Big Pharma, Vine Ventures, Lucid, Street Journal, Investments, Gawker, Publicly, PBC alums, Numinus, US Army Locations: Patagonia, Denver, Harvard, Colorado, Skokie , Illinois, Ireland, Czech, Sarasota, Arcturus, Florida, Swiss, Vietnam, Washington, Santa Cruz, Chicago, California, Iraq, British Columbia, New York, Hawaii, Santa, Nature, Moderna, Europe, Helena, Yale, Australia, Canada, Israel, Ukraine, ICER, . Upper

☆ Melinda French Gates to Resign From Gates Foundation
▼ + stars: | 2024-05-13 | by ( Santul Nerkar | More About Santul Nerkar | ) www.nytimes.com time to read: +1 min

Melinda French Gates, one of the world’s most influential philanthropists and the ex-wife of Microsoft co-founder Bill Gates, announced Monday that she was resigning from the foundation that she and her husband founded. In a post on X, Ms. Gates said she was “immensely proud” of the work of the Bill and Melinda Gates Foundation, which she and Bill Gates started in 2000. As one of the biggest donors at the World Health Organization, it exerts a considerable level of influence over the policies in developing countries, especially in health and education. Mr. and Ms. Gates announced their plans to divorce in May 2021, after 27 years of marriage. The foundation at the time said they would remain co-chairs of the organization.

Persons: Melinda French Gates, Bill Gates, Gates, Melinda Gates Organizations: Microsoft, Melinda Gates Foundation, World Health Organization

☆ Melinda French Gates resigns from the powerful charity foundation she and Bill founded
▼ + stars: | 2024-05-13 | by ( Geoff Weiss | ) www.businessinsider.com time to read: 1 min

Melinda French Gates announced she's resigning as co-chair of the Bill & Melinda Gates Foundation. Advertisement"The time is right for me to move forward into the next chapter of my philanthropy," she wrote in a statement on X. She added that she'll have "an additional $12.5 billion to commit to my work on behalf of women and families" thanks to an agreement with her ex-husband, Microsoft founder and billionaire Bill Gates. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.

Persons: Melinda French Gates, she's, Melinda Gates, Bill Gates Organizations: Melinda Gates Foundation, Microsoft, Business

☆ How Mark Zuckerberg turned against the news
▼ + stars: | 2024-05-13 | by ( Kali Hays | ) www.businessinsider.com time to read: +13 min

Mark Zuckerberg held regular discussions in 2017 and early 2018 about how to make news on Facebook more trustworthy and reliable. "Giving people a voice is not enough without having people dedicated to uncovering new information and analyzing it," Zuckerberg wrote. Zuckerberg also considered a permanent subsidy through his philanthropy the Chan Zuckerberg Initiative. Murdoch and Zuckerberg's yearslong relationship, while never outright friendly, turned "tense, very tense," when Australia passed the NMBC, a person who worked with Zuckerberg said. When Canada passed a law similar to Australia's last year, Meta simply and decisively turned off news content on Facebook and Instagram.

Persons: Mark Zuckerberg, Donald Trump, Facebook's, Zuckerberg, He'd, Chan Zuckerberg, Tracy Clayton, it's, That's, Adam Mosseri, Mark, We're, Meta, Australia Zuckerberg, Rupert Murdoch, James Kennedy, Rod Sims, Murdoch, Lachlan, Zuckerberg's, Scott Morrison, Josh Frydenberg, Joel Kaplan, Campbell Brown, Frydenberg, I'm, Kali Hays Organizations: Facebook, Associated Press, Business, Meta, Google, News, News Corp, . News Corp, Fox, Cambridge, Capitol Locations: Meta, Canada, Australia, France, Germany, Myanmar, khays@businessinsider.com

☆ Jane Seymour is booked and busy defying ageism in Hollywood at 73
▼ + stars: | 2024-05-12 | by ( Lisa Respers France | ) edition.cnn.com time to read: +3 min

CNN —Ask Jane Seymour about her longevity as an actress and she can point to several things, including her willingness to take on a variety of roles. The show, which Seymour also executive produces, has humor as well as mystery and it’s a natural fit for the “Dr. There’s no too small a role.”And there’s no role too emotional for Seymour either. These days Seymour has found love with her boyfriend John Zambetti, who is a doctor and a musician. Now he says ‘Can we watch Dr. Quinn?’”Season 3 of “Harry Wild” premieres Monday on AcornTV.

Persons: Jane Seymour, “ I’m, Harry Wild ”, Harriet “ Harry ” Wild, Fergus, Rohan Nedd, Seymour, Quinn, ”, “, Harry, Glen Campbell, Alzheimer’s, “ Glen Campbell, James Keach, John Zambetti, She, Dr, James Bond, ’, “ He’d, Quinn ’ Organizations: CNN, Medicine Locations: Covid, AcornTV

☆ Jim Simons, billionaire hedge fund founder, dies at 86
▼ + stars: | 2024-05-10 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

CNN —Jim Simons, the billionaire investor, mathematician and philanthropist, died on Friday in New York City, according to his foundation, the Simons Foundation. According to his foundation, Simons was fired from the institute in 1968 due to his opposition to the Vietnam War. Simons then joined the faculty at Stony Brook University as the head of the school’s mathematics department. Last year, Simons’ foundation donated $500 million to Stony Brook’s endowment, the largest unrestricted gift to an American university in history, according to the Simons Foundation. “I joined Stony Brook University in 1968 as chair of their Department of Mathematics,” Simons said at the time.

Persons: Jim Simons, Simons, ” Simons, “, ” Organizations: CNN, Simons, Technologies, Massachusetts Institute of Technology, University of California, MIT, Harvard University, Institute for Defense, National Security Agency, Stony Brook University, Renaissance Technologies, Simons Foundation, of Mathematics Locations: New York City, Newton , Massachusetts, Berkeley, Princeton , New Jersey, Vietnam, American

☆ Mark Zuckerberg considered acquiring or permanently funding the Associated Press to combat Facebook misinformation
▼ + stars: | 2024-05-07 | by ( Kali Hays | ) www.businessinsider.com time to read: +3 min

Before Meta stepped away from nearly all its dealings with the news industry, Mark Zuckerberg considered getting more entangled with it than ever. Between 2017 and 2018, the founder and CEO of Facebook, as it was still known, seriously considered acquiring a news outlet. His focus eventually turned to The Associated Press, the storied news agency service, according to three people familiar with internal Facebook talks surrounding the idea. Around this time, Zuckerberg weighed another option for Facebook to start a news organization, the three people said. This idea was also ultimately abandoned, mostly due to concerns about public blowback and trust in Facebook at the time.

Persons: Meta, Mark Zuckerberg, Zuckerberg, Jeff Bezos, Chan Zuckerberg, Donald Trump, Facebook's Organizations: Facebook, Associated Press, Washington Post, Chan Zuckerberg Initiative, AP, Meta

☆ I left San Francisco and moved to LA. Here are the 5 worst things about leaving the Bay Area.
▼ + stars: | 2024-05-04 | by ( Robin Madell | ) www.businessinsider.com time to read: +5 min

AdvertisementEven though LA is much larger than San Francisco, LA doesn't feel urban, while San Francisco does. Here's what I felt were the five worst things about leaving the San Francisco Bay Area and moving to LA. AdvertisementAs an artist and business owner, I founded my eco-friendly textile and wallpaper collection business in San Francisco in 2013. I miss San Francisco's culture and philanthropic spiritLiving in San Francisco, I found that many of its businesses have a good environmental or social mission. But I believe, for the most part, San Francisco still has the same caring heart and soul it's had for years.

Persons: —, Stevie Howell, It's, I've, Francisco —, Jessica Silverman, Rebecca Camacho, would've, it's, Crissy, I, Manseen Logan Organizations: Service, Business, San, San Francisco Bay Area, Minnesota, National Parks Conservancy, Area Locations: Los Angeles, San Francisco, LA, It's, San Francisco , LA, San Francisco Bay, Mandalay, Francisco, Bernal Heights Hill, Dolores Park, Ocean, Stinson Beach, Angel, mlogan@businessinsider.com

☆ Google's former CEO lists $24.5 million mansion in most expensive ZIP code in the US
▼ + stars: | 2024-05-04 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

Eric Schmidt, Google's ex-CEO, is selling his Atherton mansion for $24.5 million. The property, located in the most expensive US zip code, includes a main home and a guest house. AdvertisementGoogle's former CEO, Eric Schmidt, and his wife, Wendy, are selling their Atherton mansion for $24.5 million. Schmidt's current net worth is estimated at around $23.9 billion, according to Forbes' ranking. Since leaving his role as CEO, Schmidt turned his focus to tech investments and philanthropy.

Persons: Eric Schmidt, Google's, Atherton, Schmidt, —, Wendy, Forbes Organizations: Service, Google Locations: Atherton

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

☆ Travel expert Rick Steves says he only flies in economy: 'It never occurred to me that I'm suffering'
▼ + stars: | 2024-05-02 | by ( Monica Humphries | ) www.businessinsider.com time to read: +1 min

Rick Steves runs a multimillion-dollar tour company but said he still flies in economy. Steves spoke to The Washington Post about his passion for philanthropy and the rise of his business. AdvertisementFor someone behind a company that gains $120 million annually in revenue, it might be surprising to learn that Rick Steves proudly sits in economy class for all his flights. "It never occurred to me that I'm suffering," the 68-year-old travel writer told The Washington Post. In a profile written by Natalie B. Compton, Steves shared how he grew his business and donated millions toward philanthropy.

Persons: Rick Steves, Steves, —, Natalie B Organizations: Washington Post, Service, Business

Changpeng Zhao, the founder and former CEO of crypto exchange Binance, heads to a Seattle courtroom on Tuesday to learn whether the crimes he admitted to committing will land him in prison for an extended sentence. As part of his plea deal with the Department of Justice, Zhao agreed to step down as CEO. Once a titan of the crypto sector, Zhao grew Binance into the world's largest centralized crypto exchange globally. Unlike rival exchange FTX, which collapsed into bankruptcy when founder Sam Bankman-Fried was criminally charged, Binance has continued to operate. Binance processed a whopping $18.1 trillion worth of trading volume in 2023, according to data from CCData, a crypto market data firm.

Persons: Changpeng Zhao, Zhao, Richard Jones, Binance, Sam Bankman, Fried, Nansen, he's Organizations: Department of Justice, District, Prosecutors, Bank, U.S, Justice Department, Futures Trading Commission, Treasury Department, SEC Locations: Seattle, U.S, CCData, Iran

☆ How rich are we? The wealthy families who don't prepare their heirs
▼ + stars: | 2024-04-29 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +4 min

Rich families across the globe are concerned about how to prepare their children to manage their wealth, but few are doing anything about it. According to a survey by JPMorgan, 69% of ultra-wealthy families cite succession planning as a top priority. That said, she attributed some of the reluctance to many of these family offices being formed within the past 10 or even five years. "Conversations about wealth can be challenging and, in our experience, families often have found it difficult to get started," she told Business Insider. Only 15% of family offices with at least $1 billion in assets kept heirs unaware compared with 27% for firms with $50 million to $500 million.

Persons: Rich, Elisa Shevlin Rizzo, Goldman Sachs, Ackah, Edward Jones Organizations: JPMorgan, Business, Forbes, UBS

☆ Jeff Bezos says work-life balance is a 'debilitating phrase,' and that work and life are actually a circle
▼ + stars: | 2024-04-26 | by ( Britney Nguyen | Sarah Jackson | ) www.businessinsider.com time to read: +3 min

Amazon founder Jeff Bezos thinks "work-life balance" is a "debilitating phrase." The billionaire and former Amazon CEO instead taught employees that work and life are a circle. AdvertisementJeff Bezos doesn't like the phrase "work-life balance," and has said in the past that he views work and life as actually a circle. "I get asked about work-life balance all the time," Bezos told Axel Springer CEO Mathias Döpfner. "If you can get your work life to where you enjoy half of it, that is amazing.

Persons: Jeff Bezos, Bezos, —, Jeff Bezos doesn't, Axel Springer, Mathias Döpfner, MacKenzie Scott, Shah Rukh Khan, Zoya Akhtar, Andy Jassy, fiancée Lauren Sanchez, doesn't, Katie Canales, Zoë Bernard Organizations: Amazon, Service, Vox's, AWS, Origin Locations: Mumbai

☆ Jeff Bezos' hard-driving approach is good for business but may lack empathy, Harvard professor says
▼ + stars: | 2024-04-25 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

A Harvard Business School professor was asked to break down Jeff Bezos' leadership style on a recent podcast. But good leadership also requires empathy, an area where Bezos is seemingly lacking, Gupta said. His inventiveness, fearlessness, and focus have all played a key role in Amazon's growth, said Sunil Gupta, a Harvard Business School professor who has studied Bezos for years. Gupta broke down how Bezos's character has helped Amazon grow on a recent episode of Harvard Business Review's "On Strategy" podcast. Amazon workers rally in support of unionization efforts, March 2021.

Persons: Jeff Bezos, Sunil Gupta, Gupta, —, he's, He's, FREDERIC J . BROWN, Bezos Organizations: Harvard Business School, Service, Harvard Business, Harvard, Nomad Ventures, Inc, Getty, Amazon, Washington Post, Gallup

Kline was drafted in 2000 by the St. Louis Rams (now the Los Angeles Rams). He was an offensive lineman until 2002, when he left the NFL after sustaining several concussions. The boutique Los Angeles firm focuses almost exclusively on sports dealmaking — though it also works on capital raises and makes its own investments. The firm's website says it has also advised on deals for franchises like the Golden State Warriors, the Miami Heat, the Los Angeles Dodgers, Bologna FC, and the San Francisco Giants. Kline works alongside Sean Clemens and Edwin Draughan, who focus on sports mergers and acquisitions.

Persons: Andrew Kline, Park Lane Andrew Kline, Lane Kline, Kline, Sean Clemens, Edwin Draughan Organizations: St, Louis Rams, Los Angeles Rams, NFL, Athletes ' Agency, Cincinnati Bengals, MLB's Cincinnati Reds, Sports Business, Golden State Warriors, Miami Heat, Los Angeles Dodgers, Bologna FC, San Francisco Giants, NCAA Locations: San Diego, Los Angeles, Angel

☆ 9 ways rich real estate owners save big on taxes from putting mansions in trusts to donating rental property income
▼ + stars: | 2024-04-25 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +9 min

The richest 0.1% of Americans own $1.8 trillion in real estate, according to the Federal Reserve. Currently, individuals and married couples can gift or bequeath $13.61 million and $27.22 million, respectively, before a 40% federal estate tax kicks in. Here are nine little-known techniques that wealthy real estate owners use to pay less to Uncle Sam:Qualified personal residence trusts, better known as "QPRTs," effectively freeze the value of a real estate property for tax purposes. With an FLP, an individual — often a parent or two parents — pools their business assets, commonly real estate or stocks. The heirs don't own the trust assets, but rather have lifetime rights to the trust's income and real estate.

Persons: Uncle Sam, Trump, Sam Walton, Wrigley, Jeff Bezos, Rich, Ron Wyden, PPLI, Jackie O, I've, Edward Renn, remarries Organizations: Federal, Business, Walmart, Biden, Blackstone, Lombard, Taxpayers, IRS Locations: Trump, Florida, Wyoming, Plenty

☆ Saving in a 401(k) can come with unexpected tax bills. Here's what to check right away to avoid a surprise and 4 ways to reduce your taxes as you withdraw.
▼ + stars: | 2024-04-24 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +8 min

Depending on your tax bracket at the time of withdrawal, your 401(k) money could be taxed at around 20% or 30%. Note that if you have a Roth 401(k), which is funded with after-tax dollars, you won't be taxed when withdrawing. The longer you can wait to touch your 401(k) money, the longer you'll delay owing taxes. Finally, there's the "non-taxable portion," he said, which would be money in accounts like a Roth 401(k), Roth IRA, and HSA. Or do they have a Roth IRA that they can take it from tax-free to benefit them?"

Persons: —, Grant Neiland, there's, you'd, Roth, Neiland, you've Organizations: Service, Business, Carson Wealth, IRS, Roth IRA

☆ Binance Founder Should Get Three Years in Prison, Prosecutors Say
▼ + stars: | 2024-04-24 | by ( David Yaffe-Bellany | ) www.nytimes.com time to read: +1 min

Changpeng Zhao, the founder of the giant cryptocurrency exchange Binance, should go to prison for three years after breaking the law “on an unprecedented scale” and pleading guilty to a money laundering violation, federal prosecutors wrote in a court filing on Wednesday. Defense lawyers countered in their own memo that Mr. Zhao, 47, should receive no prison time and face a sentence of probation, arguing that he had accepted responsibility for his crime and showed a commitment to philanthropy. A federal judge in Seattle, Richard A. Jones, is set to evaluate those dueling recommendations at a sentencing hearing for Mr. Zhao on Tuesday. His sentencing will be the latest landmark in a series of criminal prosecutions that have targeted some of the most powerful figures in the global cryptocurrency industry. Now Mr. Zhao faces his own prison sentence after cutting a deal with prosecutors in November, admitting that he failed to set up an adequate system at Binance to prevent money laundering.

Persons: Changpeng Zhao, Zhao, Richard A, Jones, Sam Bankman Locations: Seattle

☆ I was happy in the UK and dead against moving to New York. When my partner was made redundant, it felt like our only option.
▼ + stars: | 2024-04-23 | by ( Hannah Crown | ) www.businessinsider.com time to read: +6 min

Leaving London for New York City felt like the only option. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTwo years ago, my partner and I were still living in a one-and-a-half-bedroom basement in London. AdvertisementLeaving London for New York felt like the only optionAfter that, I had to admit, grudgingly, that going to New York seemed like the best option. The poverty in New York City is reported to have increased in recent years, bringing the total number of New Yorkers living in poverty to 2 million, according to a report from Robin Hood, an anti-poverty philanthropy.

Persons: Hannah Crown, —, we've, we'd, Peter, We've, I've, Robin Hood, It's Organizations: Service, Apple, Radio City, London Locations: British, England, London, New York City, New York, New Jersey, Brooklyn, Macy's, Radio, Dyker Heights, Long

☆ To my son, born in the climate crisis: These helpers changed the fate of the titi
▼ + stars: | 2024-04-22 | by ( Bill Weir | ) edition.cnn.com time to read: +10 min

As River Weir has grown, Bill has been collecting stories of hope, resilience and Earth repair to share with him. “I became really frustrated by the lack of transparency,” Charlie told me. And at an expo in 2006, the fate of the titis turned for the better when the Vargas family walked in. But when she needed $1.2 million to buy nearly 1,000 acres of neighboring ranchland, Chris needed to find more helpers. “It may take a day to cut a hectare of forest,” she told me as we hiked past her plantings and into a meticulous greenhouse.

Persons: Bill Weir’s, Mister Rogers, Weir, Bill, Bill Weir, ” Rosamira Guillen, ”, Rosamira Guillen, Julian Quinones, titi, Rosamira, Charlie Knowles, Richard Nixon’s, Charlie, Laurie Marker, “ I’m, “, Akiko Yamazaki, John Lukas – Charlie, WCN, Rosamina, ” Julian Quinones, Jane Goodall, Vargas, Kira, Chris Vargas, ‘, Steve Jobs, ” Chris, Chris, CNN Bill, Olivia Organizations: CNN, Wildlife Conservation Network, expos Locations: . Dear, South America, Colombia, Barranquilla, American, Namibia, Silicon Valley, ranchland

☆ Seattle gave low-income residents $500 a month no strings attached. Employment rates nearly doubled.
▼ + stars: | 2024-04-19 | by ( Noah Sheidlower | Katie Balevic | ) www.businessinsider.com time to read: +4 min

Read previewA Seattle-area guaranteed basic income pilot gave low-income residents $500 a month to help reduce poverty. The Workforce Development Council of Seattle-King County launched a 10-month guaranteed basic income pilot program with 102 participants in fall 2022. Over a quarter of participants reported acquiring disability insurance in their new jobs, which none of them had in their previous jobs. However, many of the pilot programs are funded privately by philanthropy or by federal relief funds. Republicans in several state legislatures have pushed efforts to ban basic income programs in their states.

Persons: —, Marie Kurose, Chase Bank — Organizations: Service, Workforce Development, of Seattle, King County, Business, Employment Security Department, Chase Bank Locations: Seattle, King, King County

☆ Seattle gave low-income residents $500 monthly payments with no strings attached. Some got new housing and employment rates nearly doubled.
▼ + stars: | 2024-04-19 | by ( Noah Sheidlower | Katie Balevic | ) www.businessinsider.com time to read: +4 min

Read previewA Seattle guaranteed basic income pilot gave low-income residents $500 a month to help reduce poverty. The Workforce Development Council of Seattle-King County launched a 10-month guaranteed basic income pilot program with 102 participants in fall 2022. Over a quarter of participants reported acquiring disability insurance in their new jobs, which none of them had in their previous jobs. However, many of the pilot programs are funded privately by philanthropy or by federal relief funds. Republicans in several state legislatures have pushed efforts to ban basic income programs in their states.

Persons: —, Marie Kurose, Chase Bank — Organizations: Service, Workforce Development, of Seattle, King County, Business, Seattle, Employment Security Department, Chase Bank Locations: King, King County

☆ Opinion | Rethinking the Ethics of Tax Deductions
▼ + stars: | 2024-04-18 | by ( ) www.nytimes.com time to read: 1 min

To the Editor:Re “Make a Difference This Tax Season,” by Matthew Desmond (Opinion guest essay, April 14):Mr. Desmond is, of course, right that tax rates and tax deductions are heavily skewed to favor the very wealthy. One of the solutions he offers, however, asks the somewhat wealthy to imitate the very wealthy: Take your deduction and give to your favorite charities. That’s how the taxpayers end up subsidizing — through deductible philanthropy — huge bequests to operas, billionaires’ alma maters, vanity art collections and other pet projects. If people just didn’t take the deductions, as Mr. Desmond also proposes, the savings could help fund main government responsibilities like schools, safety, health care and the like. The writer is a professor of sociology at the University of California, Berkeley.

Persons: Matthew Desmond, Desmond, alma, Claude S, Fischer Berkeley Organizations: University of California Locations: Calif, Berkeley

☆ Here's how guaranteed basic-income programs get their funding
▼ + stars: | 2024-04-09 | by ( Allie Kelly | Noah Sheidlower | ) www.businessinsider.com time to read: +6 min

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

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