Institute on Taxation and Economic Policy: ” Download report data here – Executive Summary: “The tax overhaul signed into law by former President Donald Trump in 2017 cut the federal corporate income tax rate from 35 percent to 21 percent, but during the first five years it has been in effect, most profitable corporations paid considerably… Continue Reading
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Category Archives: Financial System
Amazon’s Big Secret
The Atlantic [unpaywalled] – “…Nearly 30 years after the company was founded, we still don’t really know where its profits come from. The answer will loom large in the antitrust case against it. Under SEC rules, public corporations must file quarterly reports disclosing revenue, expenses, profits, and other metrics. Initially, only company-wide data were required.… Continue Reading
How to Keep Your Loved Ones Safe From Financial Scams
Wired: “…So what can we do to help our elderly and vulnerable, who are the targets of scams and morally dubious business practices? I spoke with Genevieve Waterman from the National Council on Aging (NCOA), an expert on financial education among older adults. She was quick to point out that pushy salespeople often use the… Continue Reading
Why Law Firms Could Be Private Equity’s Next Conquest
Forbes [no paywall]: “Law firms are a lucrative $400 billion market that has long been shielded from outside ownership. In search of fresh turf, buyout firms may soon be hunting among the gray flannel suits…Considering that the buyout business has ballooned to more than 4,000 firms competing for deals, law could represent a new, fertile… Continue Reading
New York judge rebukes law firm for using ChatGPT to justify its fees
FT.com [unpaywalled]: “A New York judge has scolded a law firm for citing ChatGPT to support its application for “excessive” attorneys’ fees of up to $600 an hour. The Cuddy Law Firm had invoked the predictive artificial intelligence tool in a declaration to the court over a case it won against the city’s education department.… Continue Reading
Pete Recommends – Weekly highlights on cyber security issues, February 17, 2024
Via LLRX – Pete Recommends – Weekly highlights on cyber security issues, February 17, 2024 -Privacy and cybersecurity issues impact every aspect of our lives – home, work, travel, education, finance, health and medical records – to name but a few. On a weekly basis Pete Weiss highlights articles and information that focus on the… Continue Reading
Digital Policy Alert – CLaiRK BETA
“CLaiRK is the latest initiative of the Digital Policy Alert team. Over the first half of 2024, we aim to build a comprehensive tool that will help you navigate the rapidly changing landscape of artificial intelligence rules. Our mission is to help policymakers, legal professionals, journalists and citizens better understand the nuances of digital regulations… Continue Reading
AI will judge your entire financial life – and Moody’s is stoked about it
Quartz – The credit-rating firm provided a window into how generative AI could change its business – “A lot of CEOs are highlighting AI initiatives on earnings calls with investors and analysts. Add Moody’s to the list. The firm, which rates the creditworthiness of institutions including companies and governments, cited “GenAI” at least 33 times… Continue Reading
Commonness of Races in Different Occupations
FlowingDate – Nathan Yau: “Some jobs are worked commonly by people of a certain race or ethnicity more than others. Farm managers are almost all white, postal service processors are half black, manicurists are 65% Asian, and drywall installers are 75% Hispanic. The chart below shows the percentage of employed persons 16 years and older… Continue Reading
Understanding the Privacy Practices of Political Campaigns: A Perspective from the 2020 US Election Websites
024 IEEE Symposium on Security and Privacy (SP) Understanding the Privacy Practices of Political Campaigns: A Perspective from the 2020 US Election Websites Year: 2024, Pages: 91-91, DOI Bookmark: 10.1109/SP54263.2024.00091. Kaushal Kafle, William & Mary, USA ; Prianka Mandal, William & Mary, USA ; Kapil Singh, IBM T.J. Watson Research Center, USA ; Benjamin Andow,… Continue Reading
Biden invested big in more tax audits. A new IRS analysis claims it’s working.
Vox: “In 2021, Americans owed about $625 billion in taxes that they never paid. This number, called the “tax gap,” represented some 13.7 percent of all taxes due, and, had it been collected, it would have reduced the deficit by nearly one-quarter. Getting more of that number collected is naturally an obsession of many tax… Continue Reading
New tool to automatically remove your personal information from data broker sites
Introducing Mozilla Monitor Plus – “Today, Mozilla Monitor (previously called Firefox Monitor), a free service that notifies you when your email has been part of a breach, announced its new paid subscription service offering: automatic data removal and continuous monitoring of your exposed personal information…“When we launched Monitor, our goal was to help people discover… Continue Reading
