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World Economy Apr 03, 2026

Billionaire fortunes surged under Trump, sparking a nationwide push for wealth‑tax measures

As billionaire wealth hit record levels during the Trump era, a growing coalition of activists, law…
Rising fortunes among the ultra‑rich under the Trump administration have ignited a wave of tax‑reform campaigns across the United States. In California, volunteers like Karen Sanchez are gathering signatures for a one‑time 5% wealth tax targeting the state’s 200‑plus billionaires to offset federal cuts to hospitals, education and food‑assistance programs.At least ten states are exploring similar measures. Washington recently enacted its first income‑tax aimed at roughly 20,000 millionaire households, while Massachusetts and Minnesota already channel wealth‑tax proceeds into preschool, K‑12 meals and transportation infrastructure.On the federal front, Senators Bernie Sanders and Representative Ro Khanna have introduced the “Make Billionaires Pay Their Fair Share Act,” proposing an annual 5% levy on billionaire net worth. Khanna argues that the ultra‑wealthy fund private health insurers, defense contractors and political campaigns, creating a stark fairness gap.Data from Oxfam shows that in the twelve months after Trump’s re‑election, billionaire fortunes grew at a rate three times faster than the average annual growth of the previous five years. Meanwhile, the federal minimum wage has remained stagnant at $7.25 for fifteen years, underscoring the widening economic divide.A Data for Progress poll released last fall found that 70% of Americans believe the economic system favours corporations and the wealthy. “People are angry and want change,” says Amy Hanauer of the Institute on Taxation and Economic Policy (ITEP), noting that activists are leveraging every level of government to seek relief.The movement draws on a two‑decade history of class‑based activism, from the Occupy Wall Street protests to Senator Sanders’ 2016 campaign that foregrounded wealth‑tax proposals. Yet inequality has deepened: CEOs of the five largest U.S. firms now earn, on average, **$52 million** annually—over a thousand times the typical worker’s salary.Political spending by billionaires has also exploded. A recent New York Times analysis reveals that billionaire contributions rose from **0.3% of campaign funds in 2008** to **19% in 2024**, amounting to more than **$3 billion** from roughly 300 ultra‑rich donors, many of whom supported candidates opposing wealth taxes, including former President Donald Trump.The war in Iran has further inflamed resentment, with the United States spending **$11.3 billion** in the first week of bombardment—far exceeding the annual budgets of agencies such as the CDC, EPA and the National Cancer Institute.Local victories are feeding the momentum. New York City’s mayoral race saw Zohran Mamdani win on a platform that includes taxing the rich to fund affordable housing, groceries and transit. Councilmember Chi Ossé led a 1,500‑person march to the state capitol, urging Governor Kathy Hochul to permit a city‑level millionaire tax, a move that now has backing from some state Democrats.Beyond New York, states like Rhode Island, Hawaii, Pennsylvania, Virginia, Illinois and New Mexico are debating various wealth‑tax mechanisms, including the popular “mansion tax” on high‑value home sales. Currently, **17 localities** have adopted such taxes, most passed between 2018 and 2023.California’s gubernatorial race has become a flashpoint. Billionaire‑backed candidates Matt Mahan and Tom Steyer are vying to replace Governor Gavin Newsom, with the tech elite—such as Sergey Brin and Joe Lonsdale—pouring money into campaigns opposing the billionaire tax. Of the 30 billionaires who have contributed to the race, **25 supported Mahan**, who has positioned himself as a staunch anti‑tax candidate.For Sanchez, the stakes are personal. The proposed tax seeks to replace **$100 billion** in federal health‑care funding cut by Trump’s “One Big Beautiful Bill Act,” which threatens hospital closures and layoffs in the nation’s fourth‑largest economy. She aims to collect **875,000 signatures** by late June to secure the initiative on the November ballot.“It’s creating a network of groups all working toward a common good,” Sanchez says, reflecting a broader sentiment that collective action could finally translate the public’s demand for fiscal fairness into concrete policy.
#california #seiu #oxfam
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Culture Apr 03, 2026

DJ Shadow Unveils Rare Mo’Wax Singles Box Set and Calls for Fan Questions Ahead of Launch

DJ Shadow is set to release The Mo’Wax Singles 1993‑1997, an eight‑vinyl box set featuring his earl…
Nearly three decades after the groundbreaking debut Endtroducing….. first hit shelves, DJ Shadow is once again revisiting his back catalogue. Following a celebrated 25th‑anniversary reissue that was remastered at Abbey Road Studios, the Californian producer is preparing a new archival release.In May, Shadow will issue The Mo’Wax Singles 1993‑1997, a meticulously curated box set that compiles eight 12‑inch records of his original singles for James Lavelle’s Mo’Wax label. The collection also includes alternative mixes, brand‑new artwork, and material recovered from dusty DAT tapes and original master mixes.“This box wasn’t made for the casual listener, it was made with the hardcore fan in mind,” Shadow explained in a statement. “I’ve always felt, if something is worth doing, it’s worth doing right, and every step of the process was made with this philosophy firmly in mind.”With the release timed to a period of reflection, Shadow is opening the floor to fans and journalists alike. He invites readers to submit questions about his pioneering sampling techniques, collaborations ranging from Wong Kar‑wai and Zack de la Rocha to Danny Brown and Deftones, and even the infamous Miami Beach show that was halted for being “too future.”Submit your queries in the comments by 6 pm BST on 8 April, and the most compelling answers will be featured in an upcoming issue of Film & Music.
#his #shadow #made
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Science Apr 03, 2026

Eight-Year-Old's Plushie Embarks on Historic NASA Lunar Mission

An eight-year-old boy's plushie, designed as a zero-gravity indicator, is aboard NASA's Artemis II …
A plush toy designed by eight-year-old Lucas Ye from California has become an unlikely participant in NASA's Artemis II mission, the agency's first crewed lunar mission in over 50 years. The toy, named Rise, serves as a zero-gravity indicator and was included in the mission after Lucas won a global competition.Rise is a smiley-faced plush toy wearing a baseball cap with a star-spangled visor and a crown resembling Earth's surface. Lucas's design was chosen from over 2,600 entrants in a competition presided over by NASA and Freelancer, a crowdsourcing company.The Artemis II mission, which launched on Wednesday, aims to send astronauts farther from Earth than any humans in history. The crew will travel over 250,000 miles into space and back over a period of 10 days. If successful, the mission will pave the way for future lunar exploration, including the 2028 scheduled mission to place humans back on the moon.Rise's journey is not without precedent; similar zero-gravity indicator objects have been part of space missions in the past. Lucas's achievement is a significant milestone for the young space enthusiast, who aspires to work at NASA or become an astrophysicist.The Artemis II mission also marks a historic moment for diversity in space exploration, with a woman, Christina Koch, and a person of color, Victor Glover, flying between Earth's orbit and the moon for the first time.
#NASA #Artemis II #Zero-Gravity Indicator
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World Economy Apr 02, 2026

New Yorkers Ditch Gas Stoves for Cleaner, Healthier Induction Cooking

In a push for clean energy, thousands of New Yorkers are swapping gas stoves for induction stoves. …
In a bid to reduce greenhouse gas emissions and improve public health, thousands of New Yorkers are making the switch from gas stoves to induction stoves. A recent project in the Washington Heights area of Manhattan has installed induction stoves in 15 co-op apartments, providing residents with a cleaner and healthier way to cook.The project, supported by state and city governments, as well as non-profit groups, aims to reduce the risks associated with gas stoves, including nitrogen dioxide emissions and climate change. According to a study, people who replaced their gas stoves with electric alternatives were exposed to less than half the amount of nitrogen dioxide emissions.Residents, such as Marcos Ramos, are excited about the change. “It makes sense”, he said. “If you’re minimizing risk with the gas, the fire, then environmentally, health-wise, it makes sense. It’s logical.”The induction stoves, supplied by Copper, use magnetic fields to heat cookware directly, making them more efficient and environmentally friendly. The project is part of a larger effort to promote clean energy and reduce greenhouse gas emissions in New York City.Advocates claim that induction stoves are a viable alternative to gas, which has jumped in price amid the Iran war and poses health risks to residents. The city is also working on a $32m pilot to replace gas stoves in 10,000 apartments across the New York City Housing Authority (NYCHA) system.While some states, including New York, California, and Hawaii, are stepping up to promote induction stoves through rebate programs, others are facing resistance from the gas industry and Republican politicians.
#gas #induction #stoves
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Tech Apr 02, 2026

US Court Dismisses WhatsApp Ex-Security Chief's Lawsuit Against Meta

A US court has dismissed a lawsuit filed by WhatsApp's former security chief, Abdullah Baig, agains…
A US court has dismissed a lawsuit from WhatsApp's former security chief, who alleged that parent company Meta ignored internal flaws he flagged about the messaging app's digital defenses.Abdullah Baig, who claims he was fired in retaliation for raising these concerns, had alleged that billions of users had been put at risk because of these vulnerabilities. Thousands of employees could view sensitive user data, including profile photos and location, Baig claimed in the lawsuit filed in September. A judge ruled he had not presented enough evidence to move forward.The US district court in northern California ruled last month to dismiss Baig's claims, with the judge, Laurel Beeler, writing on 19 March that 'the complaint does not contain sufficient facts to show that the plaintiff reported violations of SEC rules or regulations.'Baig was head of WhatsApp's security division from 2021 to 2025. He said he had expressed concerns about cybersecurity issues to his supervisor five times but was ignored; he also said he wrote directly to Meta's CEO, Mark Zuckerberg, about what he saw as a violation of US Securities and Exchange Commission rules and escalating retaliation against him. He also claimed that the company didn't fix the hacking of more than 100,000 accounts daily – and focused instead on user growth. At the time, WhatsApp said in a statement that he was 'a former employee dismissed for poor performance' who had filed a suit based on distorted claims.A WhatsApp spokesperson said: 'This ruling reaffirms what we've said all along: These claims have no merit. We're proud of our strong record of protecting people's privacy and security, and will continue building on it.'Baig's lawyer suggested in a statement emailed to the Guardian that the legal fight was not over. 'Mr Baig is not done fighting for users,' said Wilmer Harris, who represents Baig. 'The judge dismissed on pleading grounds, not merit, and we look forward to addressing those deficiencies and ensuring Meta has to finally engage with the substance of Mr Baig's allegations.'
#WhatsApp #Meta #Abdullah Baig
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Economy Apr 02, 2026

Student Loan Forgiveness Offers Lifeline to Hundreds of Thousands Amid $1.7 Trillion Debt Burden

A small but growing group of U.S. borrowers are experiencing life‑changing relief as the Department…
Out of roughly 43 million Americans who collectively owe close to $1.7 trillion in student loans, only a limited number have seen their balances wiped clean. For those fortunate few, the impact has been profound, reshaping financial stability and opening new career possibilities.Laura Kluss, a 41‑year‑old clinical social worker from Sacramento, California, received forgiveness through the Public Service Loan Forgiveness (PSLF) program at the end of 2025. Her loan, which had ballooned into the six‑figure range, was reduced to zero, allowing her to consider a shift from government work to the private sector without the weight of debt.Earlier this week, the U.S. Department of Education began alerting approximately 164,000 additional federal borrowers that they may qualify for automatic loan discharge. The outreach focuses on individuals who attended any of more than 150 colleges alleged to have misled students about graduation rates, employment outcomes, or true program costs.For borrowers like Kimberly from Pennsylvania, the news feels like “hitting the lottery.” She explained that the forgiveness will enable her to settle other obligations, such as her mortgage and vehicle loan, and she warned that “college is a scam unless you become a doctor or a lawyer,” urging prospective students to consider trade schools instead.Ian Hobbs, a 43‑year‑old adjunct professor in Arizona, also saw his loans discharged, yet he stresses lingering repercussions. He noted that a high debt‑to‑income ratio has blocked mortgage approvals and job opportunities for over a decade, describing the experience as akin to “indentured slavery.”Jennifer Alfonso, a disabled stay‑at‑home wife from Florida, is awaiting a decision on a Total and Permanent Disability (TPD) discharge. She said that relief would prevent automatic deductions from her SSDI benefits, which currently leave her barely able to cover basic living costs.Alfonso also cautioned others to verify a school’s accreditation, recounting her own ordeal with an unaccredited institution that forced her to restart her nursing education after transferring credits.Brad Hufeld, a retiree in Delaware, Ohio, has carried a loan for 23 years after his college closed before he could graduate. He highlighted the personal toll, including the loss of his mother during that period, and urged borrowers to read the fine print before signing up for any program.A woman in her 60s working at a bottling plant in Kentucky, who filed for Chapter 13 bankruptcy two years ago, expressed hope that forgiveness could finally allow her to retire and keep her bills current.Finally, a 65‑year‑old semi‑retired truck driver in Texas, whose loan finances a truck‑driving certification rather than a degree, said that discharge would improve his credit score and provide much‑needed financial relief, adding a reminder to “do your homework before committing to any educational path.”p>
#Department of Education #student loan forgiveness #public service loan forgiveness
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World Economy Apr 02, 2026

World Cup Tax Burden: Over Half of Qualified Countries Face Extra Costs

More than half of the countries qualified for the World Cup are facing additional costs due to FIFA…
FIFA's failure to agree on a blanket tax exemption with the US government has left more than half of the World Cup-qualified countries facing additional costs and potential losses. The tax burden will disproportionately affect smaller national associations without a tax treaty with the US.Of the 48 World Cup qualifiers, only 18 countries have signed a double taxation agreement (DTA) with the US, exempting them from federal taxes. These countries are mostly from Europe, with a few exceptions like Australia, Egypt, Morocco, and South Africa.Smaller countries like Curaçao and Cape Verde, making their tournament debut, will face a larger tax liability compared to teams from countries with DTAs, such as England and France. The US federal corporate tax rate stands at 21%, and higher-rate taxpayers, including international footballers and coaches, face an income tax rate of 37%.“The teams that come from more advanced, sophisticated jurisdictions that have a tax treaty with the US, such as England and Spain, will have much lower costs than smaller countries,” said Oriana Morrison, a tax consultant.The situation is further complicated by varying state taxation levels in the US, with no state tax in Florida, 10.75% in New Jersey, and 13.3% in California. Canada and Mexico have granted tax exemptions to all associations, benefiting teams with group games in those countries.FIFA has declined to comment but sources indicate they are working with national associations to provide help and assistance on tax issues.
#tax #world #cup
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Sports Apr 02, 2026

Los Angeles Rams' Puka Nacua Enters Rehab as Lawsuit Alleges Antisemitic Remark and Biting Incident

Rams wide receiver Puka Nacua began a rehab program before being sued by Madison Atiabi, who claims…
Puka Nacua, the Los Angeles Rams’ standout wide receiver, entered a rehabilitation program months before a civil suit was filed against him, according to his legal counsel.Attorney Levi McCathern told The California Post that Nacua’s decision to seek treatment was not a reaction to the lawsuit, but an effort to "improve his overall behavior in every aspect of his life" and that he will remain in rehab for an extended period.The plaintiff, Madison Atiabi, alleges that during a New Year’s Eve dinner in Los Angeles last year, Nacua uttered a profane anti‑Jewish slur and subsequently bit her shoulder, leaving visible teeth marks. She also claims Nacua bit a friend’s thumb with enough force to cause acute pain.McCathern vehemently refutes the antisemitic accusation, describing the alleged bites as "horseplay" and citing multiple sober witnesses who assert that Nacua never made the offensive remarks attributed to him.In December, Nacua issued a public apology after a livestream gesture was criticized for echoing antisemitic tropes, further intensifying scrutiny of his conduct.On the field, the 24‑year‑old had a breakout season, leading the NFL with 129 receptions, 1,715 yards, and 10 touchdowns. He continued his dominance in the playoffs, topping the league with 24 catches for 332 yards and two touchdowns.With his contract set to expire this offseason, Nacura is eligible for an extension that could rank him among the highest‑paid receivers in NFL history, though the Rams have yet to announce any negotiations.
#Los Angeles Rams #Puka Nacua #Madison Atiabi
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Sport Apr 01, 2026

Congress Weighs ‘Home Team Act’ to Thwart NFL Relocations After Chicago Bears’ Indiana Proposal

U.S. lawmakers are pushing the Home Team Act, which would give local communities a year‑long right …
Chicago Bears owners are flirting with a move to Hammond, Indiana, after stalled tax talks stalled their Arlington Heights stadium plan. The prospect has ignited outrage from fans, Illinois Governor J.B. Pritzker, and even WWE star CM Punk, who called the maneuver “straight greed.” In response, U.S. Senator Bernie Sanders and Representative Greg Casar introduced the Home Team Act, legislation that would require professional‑sports owners to give their host community a one‑year window to purchase the team at fair market value before any cross‑state relocation. Casar emphasized that “sports in America should be about more than making billionaire owners richer,” noting that many municipalities have already poured billions into subsidies to keep profitable franchises at home. Sanders, a lifelong Brooklyn Dodgers fan, recalled the 1957 Dodgers’ move to Los Angeles as a formative moment that shaped his anti‑corporate stance. The Home Team Act defines relocation as any move that crosses state lines or shifts a franchise to a different metropolitan area. During the mandatory year, a broad range of buyers—including private individuals, municipalities, corporations, or community‑owned entities like the Green Bay Packers—could acquire the team at market price. The Packers’ unique structure, with over 500,000 shareholders and a cap of 200,000 shares per individual, has helped keep the team in Green Bay, though it remains an outlier. Relocation threats are common across the NFL and other leagues, typically driven by owners seeking future profit rather than current revenue. The bill’s co‑sponsor, California Congresswoman Lateefah Simon, points to Oakland’s recent loss of the Warriors, Raiders, and soon the Athletics as a cautionary tale: the exodus has crippled local businesses, eliminated jobs, and eroded cultural identity. Financially, the Bears are valued at roughly $8.9 billion. Even with wealthy backers, the fiscal burden on taxpayers to retain such a franchise would be massive, making community ownership an appealing yet largely theoretical solution. Passage of the Home Team Act faces steep hurdles. It must clear both chambers of Congress and win presidential approval from an administration friendly to billionaire team owners. Practical challenges also remain, such as defining the exact moment a relocation process begins and establishing an impartial method for fair‑market valuation. Nevertheless, proponents argue that if owners placed greater value on their communities, legislation like the Home Team Act might become unnecessary. For now, the bill represents a rare legislative attempt to rebalance power between affluent franchise owners and the fans and taxpayers who support them.
#team #sports #owners
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