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Did You Know?
The Penny is discontinued as of November 12, 2025…. Its Era was 1793 - 2025.
Did You Know?
A Malibu neighborhood landmark has been sold for around $1.8 million per room: L.A.-based CHROME HEARTS paid $37.5 million for the Surfrider Hotel overlooking the Pacific, one of highest prices paid per room in Southern California. (WSJ)
Did You Know?
If you set up an investment firm with the right legal structure, the self-employment taxes that fund Social Security and Medicare could become largely optional thereby saving lots in taxes. When you structuring a business as an LLC and then elect to be taxed as an S corp, the owner who works for the business is treated as an employee allowing the business's income to be split into two categories: 1. Reasonable Salary The owner is paid a reasonable salary for the work they perform and is subject to standard payroll taxes (FICA): the employer and employee each pay a portion.....and 2. Distributions: All remaining profits after the salary and other business expenses are paid are passed through to the owner as distributions subject to income tax but not to self-employment taxes. (NY TIMES+)
Did You Know?
Could "$2,000 tariff-dividend checks" unleash a similar wave of spending that we saw during COVID when almost $2 trillion was sent to US consumers? Most believe this is unlikely to happen as it could trigger an inflation surge. (CNBC)
Did You Know?
Is gambling being rebranded as “prediction markets?” Gambling in households increases the odds of domestic violence by over 10x, and gambling has the highest suicide rate of any addiction — roughly 1 in 5 people with a gambling addiction attempt suicide. Gambling addiction receives almost no federal funding. Legalization makes it worse. In states with legal sports betting, personal bankruptcies jump 28%. It disproportionately affects low-income families, men, and, increasingly, young people. 90% of high school students surveyed in New York said they’d gambled at least once in the past year. Supporters claim that legalizing raises tax revenue: for every dollar collected, states lose over $4 in net costs. Are we monetizing people’s addictions? (Scott Galloway)
Did You Know?
A majority of Americans want to stop changing their clocks. Of those polled, 56% would prefer to have daylight saving time year-round, meaning less light in the morning for a tradeoff of more light in the evening. While 42% of Americans said they would prefer to have standard time year-round, which means more light in the morning and less light in the evening. And 12% of Americans prefer switching between standard time and daylight saving time. Sleep doctors would prefer we switch to standard time permanently.
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"The financial excesses of 100 years ago teach us how high the costs of negligent oversight of our markets can be. When sentinels sleep, fraudsters flourish; their frenzied celebration of unreal profits pumps froth into the market; ultimately, with panic and pain, bubbles will burst."
- Mr. Birdthistle, ex-Director of the Division of Investment Management at the SEC. Robinhood makes notable revenue from the interest its users pay to borrow money to buy yet more investments. Investing on margin was a major source of the surge that drove markets to perilous heights in the 1920s and when stocks began to fall, margin calls were a major accelerant of the crash.
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