#Servicing that many loans costs the government a lot of money and it will KEEP costing the government a lot of money ongoing

[thepioden]

One thing that is often overlooked with federal student loan forgiveness is that for every outstanding loan, the federal government is giving taxpayer money to a massive private fintech contractor to service that loan. It actively costs the government money to have loans outstanding. It is more expensive for the government to have someone who is on a low or no-pay income driven plan sit on that debt for 20 years than it would be to just forgive it outright today.

So like. Your tax dollars could go to relieving the debt burden of some struggling millennial OR they can line the pockets of Aidvantage's CEO, but that money is being spent either way.

[anthonybialy]

Mob Misses

Money isn’t the only thing inflated.  Joe Biden thinks the term means its value increases, which is desirable just like it is for balloons.  A professional clown made him a squirrel.  As an amateur, he makes cash as worthless as his reputation.

The amount of sheer scumbaggery exhibited by our leader is the only thing exhibited in abundance.  America struggles to escape the influence of a limp crime boss who gets his cut from every industry.  The nation he rips off endures exactly what everyone who believes in properly-restrained government said would happen when it went unlimited.  A full-time dirtbag who rips off resources is bound to think it’s common behavior.

The messenger is suitable for the message.  Only Biden would think he’s being praised.  Exploiting authority that was never his to seize is as shameless as deciding debts don’t need to be repaid because he proclaims it.  

A criminal and criminally inept administration uncannily pimps policies that serve his crackhead brat’s shady deals. Haruspicy doesn’t require animal entrails.  Nobody can afford bacon.

Personal grift is accompanied by other kinds of overreach.  The ostensibly beneficial interference is the precise opposite, but we’d enjoy peaceful prosperity if it worked like smug dolts imagined.  Those forced to pledge allegiance don’t even get benefits out of putting up with a bumbling godfather.

It’s unsurprising that Biden family capos can’t even invent clever schemes.  Enriching himself by using a Chinese laundry is the worst sort of stereotyping.  Taking classified documents and leaving them laying about was so blatant that it seemed like a sting.  Meanwhile, his son who’s legitimate in one sense makes deals with the sort of rogues’ gathering from the opening of The Naked Gun while Daddy just happened to stop in and say hi.  Life is full of coincidences.  Don’t forget to notice the magic of the everyday.

Ineptness while corrupt will have to qualify as balance.  There’s not a pleasant aspect about Biden’s personality or results.  It’s not like he’s a jerk who gets things done, or at least good things.  Confusing activity for progress isn’t a sign that Biden is declining, as he began his political career declined.

You have to take it.  There’s never been a better case against coercion for supposed progress than a garbage presidency staffed by terrible people who are so unwilling to help others voluntarily that they can’t imagine anyone decent enough to do so.  A lack of empathy explains a lot, including why pushy liberals explain constantly that they really care.

Sucking at making anything people want is a common characteristic amongst uncommonly useless White House underlings.  A service rendered costs money, which offends defenders of thieving.  Shoplifting is flourishing just like not paying back loans.  This would be a good time to finally concede that government shouldn’t have our money or trust.

Unaffordable fuel might be by design if that assuages the inability to get anywhere more than figuratively.  You can have all the solar power you want just like the free money that somehow isn’t worth that much.  Democrats dream of taxing the Sun.

As for life on this planet, crazy prices on energy that actually makes things go keeps everyone idling.  Dystopian science fiction where everyone’s trapped inside is too rosy.  The commodity that literally fuels civilization getting more costly prompts everything else to become even pricey.  Other items don’t need the assistance.

Paying like the mob is taking its cut is something those shaken down aren’t supposed to notice.  Your precious free speech prevents your protection.  Government already hassled reflexively before we got stuck with a president who serves as the bagman for his crime family.  Nobody’s watching a mob movie that’s a documentary featuring no loyalty.

The president has done so little in so many years.  A person with a paucity of life experience as Biden is bound to think everyone else acts like he does.  Lame projection is merely one more dire consequence.  The incumbent is dedicated to service if skimming to pay his bills count.

Policies that enrich him personally are surely coincidental.  Biden sees thriving corporations with rich executives and figures government works the same.  Going soft on the commie plague-spreaders who control China because he can make a couple yuan off them at least means he’s not this weak on purpose.

The most painfully obvious abuse comes naturally to a sleaze who got into government in lieu of learning skills.  Possessing endless examples of why to properly limit the executive branch isn’t worth today’s misery.

Being a prototypical politician is not a compliment.  The incumbent cant even fake well.  A guy who’s spent his life preparing for this role bumbles in a way that’d make trainees shake their heads.  The head of state is the worst at the only thing he knows.  Biden’s last boss Barack Obama and the male in the Clinton marriage could at least con suckers into thinking they cared.  

It’s not like we can exactly say the economy’s terrific.  Finding a dollar that’s worth something is as tricky as identifying an honest one Hunter’s made.  We endure an awful business environment in a diminished America, by at least the president’s unscrupulous.  Biden can’t sympathize with your bitching while he’s doing so well.

[vectorbookkeeping]

The Importance of Accurate Bookkeeping for Tax Preparation

Accurate bookkeeping for tax preparation goes well beyond compliance with the law. Messy bookkeeping can cause you trouble with the law, cost you money, lose you sleep and tank your business. Missed Deductions This is the most obvious reason for the need for accurate bookkeeping. I have reviewed countless business books from retail shops in the Pearl District of Portland to contractors in Salem, every single set of books I have reviewed had one thing in common, missed deductions. Small and large, they all add up at tax time. In many cases, our services pay for themselves with the discovery of missed deductions. One of the most common missed deductions is loan interest expense. If you are not splitting your loan payments between principal and interest expense, you could be missing out on thousands of dollars of deductions. Accurate bookkeeping not only ensures you miss NO deductions, here at Vector Bookkeeping, we go through a regular process to find deductions you might not even know existed, such as business transactions made outside of a business bank account. Reporting Too Much Income We all want to earn more, but we definitely don’t want to tell the government we made more than we actually did. Having accurate revenue numbers is just as important to reducing your tax liability at tax time as not missing deductions. Over reporting your revenue will result in overpaying taxes. Nobody wants to overpay. But if your books are a mess, you might be telling the government you made more than you did. That’s an easy way to hand over cash you could’ve kept. Do you review every deposit to make sure it was revenue? Have you checked your undeposited funds are accurate? These are just a couple of the review processes Vector Bookkeeping conducts every week for our clients and again at the end of the year to ensure accurate bookkeeping. Peace of Mind Bad bookkeeping keeps you up at night. Good bookkeeping means you’re not scrambling when your accountant asks for records. It means if the IRS comes knocking, you’re not sweating bullets. Tax season is stressful enough without wondering if your numbers are right. I’ve met so many business owners who just cross their fingers and say, “Hopefully it’s close.” But “close” doesn’t cut it when the IRS asks questions, or when you realize you’ve been overpaying for years. Good records mean no surprises. It means walking into tax season knowing you’ve got everything covered. And honestly? That’s worth way more than just saving money. The Bottom Line Accurate bookkeeping for tax preparation is just good business. You didn’t start a business to do paperwork. But keeping things clean saves you cash, time, and a whole lot of headaches. If you’re handling it yourself, we’ve got some straightforward guides like our 10 Essential Bookkeeping Tips for Portland Small Business Owners or Understand the Basics of Bookkeeping: A Beginners Guide. Or if you’d rather hand it off, we’re happy to help, no pressure, just real talk about what you need. Reach out to us today if you are interested in working with a us. We offer free consultations and will be a friendly professional partner. You can also reach us at our Facebook page.   The post The Importance of Accurate Bookkeeping for Tax Preparation appeared first on Vector Bookkeeping. via https://vector-bookkeeping.com/the-importance-of-accurate-bookkeeping-for-tax-preparation/

[palak-98]

Benefits of Opening a Demat Account with Low Brokerage Firms

In today’s digital era, investing in the share market has become easier than ever with online trading and Demat accounts. A Demat (dematerialised) account allows investors to hold financial securities like stocks, bonds, mutual funds, and more electronically. This eliminates the need for paper share certificates and makes managing investments more convenient. Choosing a low brokerage firm to open your Demat account can optimise costs and maximise returns. This article will explore the key benefits of doing so.

What is a Demat Account?

A Demat account digitally stores all investments an individual makes in shares, government securities, exchange-traded funds, bonds, and mutual funds in one place. It provides a secure way to hold assets electronically instead of using physical share certificates, which can get damaged, stolen, or lost. Leading depositories like NSDL and CDSL provide Demat account services through intermediaries such as low brokerage firms.

Benefits of a Demat Account

Here are some of the top advantages of having a demat account:

1. Reduces Risk of Document Loss: Electronically storing securities eliminates risks associated with paper share certificates like damage, theft, and forgery.

2. Cost-Effective: Demat accounts eliminate extra expenses like stamp duties, handling fees, etc., associated with physical trading. Opting for low brokerage firms further optimises costs. 

3. Saves Time: Demat accounts facilitate quick share transfers and buying/selling with enhanced liquidity. Once approved, trade execution is seamless.

4. Easy Tracking: All documents are stored securely in one place, ensuring no manual record-keeping. Account activities can be tracked easily online.

5. Corporate Benefits: Bonus, splits, and rights issues are automatically credited from companies into the Demat account, ensuring timely receipt.  

6. Loan Facility: A loan can be availed against securities held in a demat account used as collateral.

7. Access Odd Lots: Buying/selling any quantity is allowed, effectively addressing the odd lot challenge. 

8. Storage for All Investments: A demat account stores equities, mutual funds, bonds, ETFs, and government securities in one place.  

Why Choose Low Brokerage Firms? 

When you invest your money in the share market today, the fees you pay to the investment company can affect how much money you make. It’s a good idea to pick a company that doesn’t charge too much. Some of these companies also offer other helpful services and a way to keep track of your investments at a good price.

Benefits of Opening Demat with Low Brokerage Firms

Here are some benefits of opting for low brokerage demat account providers to open a Demat account:

1. Lower Brokerage Charges: Lower brokerage firms charge very nominal fees, which directly results in better returns on investment.

2. Minimal Account Opening Requirements: Many low brokerage providers have easy account opening processes with minimal eligibility criteria. 

3. Advanced Trading Platforms: Many provide access to advanced trading apps and tools free or at nominal charges to analyse markets better.

4. Personalised Research & Advisory: Low brokerage firms often have dedicated research teams that provide customised investment advice based on client goals.

5. Unique Trading Tools: Some firms develop smart trading tools powered by AI and machine learning that suggest personalised stocks to clients. 

6. Loyalty Benefits: Various loyalty programs offer value-added features such as referral bonuses, rewards points, and exclusive IPO allotments.

7. Prompt Customer Support: Low brokerage providers generally have dedicated customer care teams resolving queries promptly through calls, emails, chats, social media, etc. 

8. Financial Safety: Opting for SEBI-registered low brokerage firms ensures financial safety for client assets and optimal transparency.

9. End-to-End Digital Services: Opening a Demat account to trading can be done digitally paperlessly with minimal turnaround times.

Types of Demat Accounts

While opening a demat account, investors need to evaluate and select the type that best suits their investor profile:  

1. Regular Demat Account: This is the most common account variant for resident Indian investors trading predominantly in equities. Stocks bought/sold are credited/debited from this account.

2. Basic Services Demat Account: Introduced by SEBI for new investors, this account has no maintenance charges if the holding value is under ?50,000. Charges are ?100 for ?50,000 and 2 lakh.

3. NRI Demat Accounts: Two variants exist for NRI investors: a Repatriable account that allows earnings transfer abroad and a Non-Repatriable account that does not permit overseas remittances.

If you want to invest in the stock market, you’ll need a Demat account. It’s important to know how to open one, what fees are involved, and how to find a reliable company to help you manage your investments.

How to Choose a Reliable Broker?

While low brokerage should be a consideration, it should not be the only criterion for selection. Some other vital aspects to evaluate include:

SEBI Registration: Ensure the broker is registered with SEBI to deal in securities.�

Service Reliability: Check for uptime records, customer service responsiveness, and trading platform stability.

Trading Tools & Apps: Availability of a reliable trading platform with advanced features and tools.

Fund Safety: The Broker should hold client funds in dedicated bank accounts and ensure proper reporting.

Transparency: Complete clarity regarding fee structure, billing process, KYC norms, etc.��

Past Track Record & Reviews: Good market reputation based on customer experiences.

Demat Account Opening Process

If you are convinced about the benefits of opening a Demat account with a low-cost broker, here is a quick rundown of the typical account opening formalities:

Step 1: Choose your preferred discount broker and start your online account opening form. Provide basic personal details like name, DOB, PAN, contact info, etc.

Step 2: Complete the video-based KYC verification by showing your Aadhaar card. Based on the requirements, provide additional KYC documents, such as address proof.  

Step 3: Link your savings bank account to the trading account either through net banking or by providing bank statements. This will facilitate the seamless transfer of funds.

Step 4: Receive a verification call from a broker representative to activate your account. After successful verification, your account will be opened instantly.

Step 5: Fund your account through net banking or UPI; you’re ready for seamless investing!

Conclusion

Opening a demat account with a reliable, low-cost brokerage firm has two main benefits: it saves you money on brokerage charges. It gives you access to advanced trading tools, research, and customer support. This can help you make smart investments without spending a lot. Choosing the right account type is important based on your investing style. With the convenience of opening an online account, finding a low-cost demat account provider can give you an advantage in maximising your investment returns.

[homebusinessmagazine]

How to Start a Home Renovation Business in 5 Easy Steps

Deposit Photos

A home renovation business works with existing properties to repurpose or redesign their structure, architecture, function, or design. There are many types of renovations, from single rooms to entire homes. Like other construction ventures, home renovation is in high demand, particularly with real estate investors and new homeowners. Home renovation isn’t easy work; it requires a lot of manual labor, planning, permits, and teamwork. You’ll need to follow the proper procedures to ensure your prospective renovation business can get off the ground successfully.

1. Start a Business Plan

A business plan solidifies your company’s goals, purpose, ideas, and operation policies. If you haven’t figured out how your renovation business will operate, now is the time. A business plan will identify your company size in terms of employee count and locations, your financial goals, who your ideal client base is, and the types of renovations you’ll get. As the business’s owner, what is your role in the company? Will you also be renovating, or will you oversee all operations without fieldwork? It’s up to you, but consulting with business partners, investors, and financial advisors can help create a solid and successful vision. Marketing plans, executive summaries, lists of services, and market analyses are all part of an ideal, thorough business plan.

2. Plan Your Budget

Starting your home renovation business will cost a lot of money. You’ll need equipment, employees, marketing, a physical location or office, utilities, internet service, tools, and more. These costs will be in addition to your expenses, as your business won’t be profitable yet. Starting a budget is a great way to calculate finances for your business. Subtract your potential costs from your total income. You can see how much money you’ll need to start your business and how much will come from external sources such as loans, grants, or investors. Before taking out loans, look into business startup grants from your local government or investment funds from friends, family, or potential business partners.

3. Create an Online Presence

It’s tough for any business, including renovation, to be successful without adapting to the modern world. Creating an online presence allows more people to locate, research, and review your business. Create social media profiles for your business where applicable. Renovation businesses can provide home renovation tips and videos on social media platforms like Instagram, X (Twitter), TikTok, and YouTube. More importantly, creating a website for your business so potential customers can find out more about you and submit inquiries is ideal. Your website should be simple but attractive. Creating a Google Business Profile will allow people to see your website, physical location, phone number, photos, reviews, and more. These factors contribute to a thorough online presence that can grow your client base.

4. Register Your Business

To legitimize and file taxes with your business, you must register it with your local and federal government. You will choose a name and a business structure (LLC, corporation, sole proprietorship, etc.) You’ll also need to receive an employer identification number (EIN) for financial purposes. You will provide documentation about the owner, address, and business plan to register it. You will need business registration information to obtain essential credentials like licenses, so keep all copies of paperwork for multiple purposes (including for yourself and other partners).

5. Obtain Licenses

You need a business license in most states to operate a commercial venture. You also may need building permits depending on the type of renovation you cover. Additionally, since renovation is a part of the construction industry, you or any relevant employees will need a general contractor license. Plumbers, electricians, and HVAC technicians will need additional licensing if applicable. Securing a license is a relatively straightforward process, and it typically involves providing business registration documentation, proof of insurance, passing an exam, and paying licensing fees. However, where you live will significantly determine licensing laws and requirements. Below are some examples of state policies for contracting licenses. Here is related information on 3 key states, for example.

Oregon

In Oregon, you must hold a general contractor license to perform any type of commercial construction on a property, and this can include renovations. Oregon contractor license requirements involve a mandatory pre-licensing course and state exam, so preparation and studying are essential.

Florida

In Florida, contractor license eligibility relies on credit checks in addition to passing an exam. You’ll also need fingerprinting, proof of liability insurance, and worker’s compensation. Once you obtain a general contractor license, you can get specialty licenses, such as plumbing or electric.

California

You need proof of four years of work experience in California to obtain a contractor license. You’ll also need to pass a two-part state exam. Many applicants will utilize pre-licensing training and exam preparation courses to ensure they only have to take this lengthy exam once. You can get your license after paying licensing fees and submitting the proper paperwork.

Conclusion

There are many steps and factors to starting a home renovation business. These companies are in high demand but require hard work and determination for success. Before opening your doors, you will need to create a business plan, register your business, get licensed, and budget for your startup. Creating an online presence can also boost your brand identity and improve your chances of success.

About The Author:

HOME BUSINESS MAGAZINE is loaded with content to help you start-up and succeed in a home-based business. HOME BUSINESS is an advanced community for home-based entrepreneurs and business owners; people who work from home; and telecommuters. Content uploaded daily. For ADVERTISING visit: HomeBusinessmag.com/Advertise

[sillyplasm]

TurboTax is a company that basically has spent a bunch of money claiming that they make filing American taxes super duper easy and approachable and it only costs you (a very amount of money to use their services) - the IRS is the tax collection agency for the USA Federal government, and there's sort of a fear mongering about them chasing people down if they're off by a tiny amount in paying their taxes. (Idk if you know much about income tax, but basically you tell your employer how much you want to not get on your paycheck, that will be contributed to various programs/the fed govt for its budget. If you're self employed, you have to pay/set aside Some Amount Every 3 Months in lieu of not working at a company that handles this for you.)

Every January-ish, workers have to file their taxes, which consists of reporting how much you made, how much you already "paid" the government for the last calendar year (via income tax or self employment taxes) and whatever deductions you have (called such because you deduct An Amount from the amount you will be actually paying) which is based on things like having kids, university loans, charity donations, etc. (There's also a Standard Deduction, which is some amount that you can choose to essentially go "just take off this chunk amount of money, I don't want to list out all that info ") If your deductions are lower than what you should have been paying, you have to pay the government the extra money you should have been paying the past year, all at once, which, have you see the economy? But if your deductions are higher, then the government has been taking more from you than they should have, and they will send you money. But you have to collect all the information and fill out the paperwork.

So, to recap, you have to tell the IRS: what you made (which they know, because your employer tells them), what you paid in taxes (again, they already know this), and what deductions you have (they already know this because of paperwork you do when setting up how much you will be paying) - AND in order for them to chase people down for being wrong (called auditing), they need to know this information anyway. But you need to fill out the forms to tell it to them just to be sure. (Many other countries, the government sends people the information and they either pay it or wait for a check)

So, the forms to file all of this information are a little dense with instructions and legalese, and TurboTax has spent an inordinate amount of money to keep them complex, and also market their services as making things easy for people so they can continue to make a shit load more money.

But! Now! There is the Free File services offered by the IRS if you make under a certain amount (I looked earlier and as of 2024 (the 2023 tax year) there are various options if you make under $79,000/yr) which means that there is a free software (as in beer, meaning it does not cost you anything but you still can't know how it's made or do whatever you want with the software) way for people to file their taxes easily as if they had used turbo tax, but not paying their nonsense fees

Thank you for letting me infodump in your inbox I hope it was a helpful explanation lol. I go eat dinner now. :p

That was... a lot. But I seriously appreciate it because this information should absolutely come in handy. I have the reading comprehension of a toaster so I'll need to study this very heavily to actually understand it in full, but really, thank you. PS, I enjoyed my dinner somewhat, even though I can't quite remember what it was.

[mybiggreenfleetltd]

Learn Why Leasing a Commercial Vehicle Is the Best Option

Do you operate a company and need a quick and affordable solution to your transportation issues? Van rental services are what you need. Leasing a van can be the most astute choice you make for your organization in the realm of transportation. In addition to the monetary gains, your company can also reap the benefits of tax savings and operational leeway. So let's go into the realm of van leasing in UK and find out why it's the best option for UK businesses. We can help you get the greatest discounts on automobile leases or on leasing vans in general.

Van leasing can save you money in the long run.

Cash flow is the first thing that springs to mind when one considers the financial benefits of business van leasing in UK. Buying a car the conventional way usually involves taking out a sizable loan or making a sizable down payment. But with van leasing, you may pay only a small deposit and manageable monthly installments, keeping your out-of-pocket expenses to a minimum.

Van leasing is advantageous since you save money by not having to account for depreciation. We're all aware that cars depreciate in value over time. If you lease a van instead of buying one, you won't have to worry about depreciation. This implies that you can hand back the keys at the conclusion of your lease without worrying about the car's residual value.

Maintenance and repairs are also simplified when you lease a van for your company's transportation needs. Standard leases offer warranty protections for your peace of mind. If something breaks down while you're leasing the car, the manufacturer's warranty will likely pay for the repairs.

Van Leasing's Tax Advantages

Every dollar matters when it comes to operating a business. For this reason, making the most of tax breaks is essential. And leasing a van is one solution.

First and foremost, the monthly lease payments on a leased van can be written off as an operating expense. This implies that the rent you pay each month can be deducted from your income and used to lower your tax bill.

The value-added tax that is normally paid on lease payments can be deducted instead. If the car is utilized only for business, you could get back the entire amount of VAT you paid on it.

There are additional possible tax benefits if you lease a vehicle that emits few or no emissions, such as an electric van. Incentives like lower road tax rates and reduced company car tax rates are provided by the government to encourage businesses to purchase environmentally friendly automobiles.

The Practical Benefits of Renting a Cargo Van

We've discussed the tax and financial advantages of van leasing for UK firms. We have also discussed the practical advantages of van leasing over outright van purchase.

Businesses can save a lot of money by choosing van leasing. Paying less out of pocket initially and having consistent monthly payments makes budgeting and resource allocation much simpler. Companies also benefit from not having to pay depreciation because they are not responsible for maintaining an item that will gradually lose value over time.

Furthermore, van leasing has various tax benefits. If a company uses the car exclusively for business, it can recoup some of the value-added tax (VAT) paid on the monthly payments and the expense of keeping the vehicle running. As a result, costs are lowered and profits are raised.

Flexibility is essential for operational benefits. Leasing a van is a great option for businesses since it gives them access to a fleet of cars without the hassles of ownership. It enables businesses to swiftly modify their fleet size in response to shifting demands.

Leasing a van offers many advantages over buying one, including the fact that servicing and repairs are taken care of without your having to lift a finger. Lease agreements typically include services like warranty coverage and roadside support to ensure your vans have little downtime.

Leasing also provides security in the face of inevitable technological progress. Vans with integrated GPS systems and other modern safety features are becoming increasingly common, and leasing allows firms to simply upgrade their fleet at the end of each contract term rather than having to liquidate unused cars.

[mariacallous]

When around 50 country leaders gather in Paris on Thursday and Friday for the Summit for a New Global Financing Pact, the main question on their agenda is a familiar one: how to tackle climate change and global poverty. Yet the summit is less conventional than it first appears: France and Barbados, the event’s co-organizers, seek to advance these goals through new rules for restructuring developing countries’ debt, a prerequisite for giving them more fiscal space to help their populations. This focus is unusual, and it shows that aid is becoming the next battleground in the competition for global influence between China and the West.

Indebtedness in the global south has reached alarming levels in recent years. The trend emerged following the triple shock of the COVID-19 pandemic (which sank growth and fueled a rise in health care expenses), rising U.S. interest rates (which hit developing markets’ currencies and added to debt-servicing costs), and the war in Ukraine (which fueled a rise of commodity prices and thereby inflated the import bills of many developing countries). Just like a private household in dire financial straits, many of these countries had no option but to take out loans to stay afloat and keep paying their bills.

The problem is that many developing economies are now struggling to pay back their piled-up debt. Statistics are disturbing: The world’s 91 poorest countries are spending an average of more than 16 percent of their fiscal revenues on debt servicing, roughly a threefold rise compared to 2011. Some cases are jaw-dropping: Nigeria, for instance, spends approximately 96 percent of its tax receipts to service debt. Sky-high debt is fueling poverty: Because they spend so much on paying back lenders, many low-income countries have little left to finance education or health care. One data point says it all: Since 2020, African countries have spent more on debt servicing than on health care.

To make matters worse, a lot of this debt is owed to Beijing. Pakistan, Kenya, Laos, and several other developing countries owe more than 30 percent of their external debt to China. This is not surprising: China is today the world’s largest creditor, with a loan portfolio larger than those of the International Monetary Fund (IMF), the World Bank, and 22 major rich-country governments combined. African countries have been among the biggest recipients of Chinese money over the past decade: According to the China Africa Research Initiative, a research program at Johns Hopkins University, African countries signed up for Chinese loans totaling $153 billion between 2000 and 2019. (The exact amount may well be higher, given that around half of debt owed to China is not publicly reported.)

In theory, financial support from China should not be a problem; evidence of debt-trap diplomacy, whereby Beijing supposedly uses debt to seize poor countries’ resources and entrap them politically, is scarce. Yet it is clear that China is hardly the most flexible of creditors when developing economies struggle to repay loans. Zambia is a good example of this: In the 2010s, the country borrowed billions of dollars from China to finance infrastructure projects. Like many economies, Zambia was hit hard by the COVID-19 crisis. In 2020, at the height of the pandemic, the country asked China if it could suspend interest payments. China refused, leaving Zambia with no choice but to default on its debt—including nearly $7 billion owed to China. Zambia is no exception; the year 2022 recorded the highest-ever number of sovereign defaults. Experts fear there will be many more defaults by next year as repayment costs keep rising.

This backdrop is bleak, but it presents an opportunity for Western countries to benefit from growing resentment in the global south against Beijing’s lending practices. The two objectives of Western countries at the Paris summit this week are all about countering China. Their first goal will be a short-term one: ensuring that they have a seat at the negotiating table when emerging markets’ debts are restructured, even when Beijing is the lender. There is virtually zero chance that China would agree to cooperate with the Paris Club, the group of 22 rich countries that handles debt restructurings on behalf of official creditors. Instead, Western states will promote the G-20 Common Framework for Debt Treatment, a new policy tool that seeks to ensure that indebted countries are not left alone with China and can benefit from a G-20-designed set of common rules when they need to renegotiate their debts.

So far, this instrument has proved disappointing. Zambia was supposed to be a test case for the new arrangement, but debt restructuring negotiations have stalled. Beijing has a responsibility for this failure, since it refused to enter discussions, let alone make financial concessions, under the G-20 arrangement. Ethiopia and Ghana have also applied for the G-20 scheme, with a similar lack of results so far. By refusing to show some goodwill, China is making its stance clear: Beijing does not want the West to meddle in its financial affairs in developing economies. Instead of collaborating with the G-20 and working according to multilaterally agreed rules, China intends to control the process and renegotiate debts behind closed doors on a case by case, bilateral basis. That leaves indebted countries in a much weaker bargaining position.

For Western countries, focusing on debt restructuring is a smart strategy: At a time when their fiscal room for maneuver is limited, restructuring has no immediate impact on taxpayers and actually increases the chance that official lenders will get their money back. Rich countries also believe that now may be the perfect time to strike back against Beijing’s financial largesse, for two reasons. First, China is facing economic difficulties: The post-COVID rebound is disappointing, the financial sector is wobbling, and local governments are weighed down by debt. In light of these challenges, Beijing has focused its efforts on reviving the domestic economy at the expense of international outreach. Second, Beijing is facing a growing backlash in indebted countries amid fears of corruption and predatory lending. In Pakistan, for instance, these exact concerns sparked protests against a Chinese-backed port project earlier this year.

As a result of these factors, China’s formerly grandiose Belt and Road Initiative is now only a shadow of its former self. Beijing has downgraded its ambitions and pivoted toward “small and beautiful” investments abroad: As opposed to previous grand development schemes, these projects are of only short duration and focus on key natural resources and the transport infrastructure to access them. Data illustrates this pivot. Since 2019, developing countries have been repaying more money to Beijing than they have received in new Chinese loans.

Western countries hope that China’s difficulties will give impetus to their second, longer-term objective, which is to reassert the position of the World Bank and IMF as the world’s leading multilateral institutions for development finance. In doing so, the United States and the European Union want to undermine the competition from the two non-Western development banks headquartered in China: the New Development Bank (also known as the BRICS bank) and the Asian Infrastructure Investment Bank (whose Canadian global communications director has just resigned, citing alleged Chinese Communist Party interference). Curbing Chinese financing will be a key way to bolster the IMF’s global role. Data from Boston University shows that for each 1 percent of its GDP that a country borrows from China, it is 6 percent less likely to ask the IMF for a loan. One reason might be that Chinese money is pulling these countries closer into Beijing’s orbit and away from Western lenders.

There is a lot to do to revive multilateral lending. As a first step, Western countries hope that a reform of the IMF’s governance—which is also on the Paris summit’s agenda—can help address developing countries’ concerns over how the fund makes decisions. The IMF was created nearly 80 years ago, and voting rights in its decision-making bodies reflect the long-gone post-World War II economic landscape dominated by the United States and a handful of Western countries. The distribution of power within the IMF is no longer in line with current population figures or economic clout: Rich countries account for only about 15 percent of the world’s population and around 40 percent of global GDP in terms of purchasing power parity, but they hold about 60 percent of the IMF’s voting rights. Progress on IMF reform will be slow, though, as convincing Washington to give up voting shares will be easier said than done.

Like so many other summits, the Paris gathering will probably produce lots of cheery promises that will never be implemented in practice. But it may be the summit’s symbolic meaning that really matters. After many years of inaction, rich countries are finally striving to respond to China’s growing influence in the global south. This highlights how aid is fast becoming another battleground for influence between China and the West. The upshot is that low-income countries could well benefit from the trend, assuming that they are willing and able to seize this opportunity to play China and the West against each other.

[rajat32]

What causes such high credit card interest rates?

Interest rates on credit cards have long been a source of anxiety for consumers. Why these rates are generally higher than those provided for mortgages or auto loans, for instance, baffles many people. Understanding the reasons behind high credit card interest rates is crucial for anyone trying to effectively manage their finances and use credit cards responsibly. Read More

Credit card lending has a higher default risk than other types of loans because it is unsecured and unbacked by any assets. Higher interest rates are used to offset possible losses when debtors are at danger of payment default.

Cost of Funds: To fund their business operations and extend credit to consumers, credit card issuers borrow money. The costs associated with borrowing money from different sources, like deposits or bonds, have an effect on the interest rates levied. Higher interest rates are the effect of increased funding costs for credit cards.

Operational Costs: Credit card firms spend a lot of money on things like customer support, marketing, preventing fraud, and upkeep of the payment system. The cost of providing these services is covered by include these costs in the interest rates.

Regulation Requirements: Government regulators impose compliance fees and regulatory guidelines on credit card issuers. Consumer protection regulations and risk management guidelines are only two examples of measures that may raise expenses and have an effect on interest rates.

Market Competition: Interest rates are affected by market forces because credit card firms operate in a cutthroat industry. If one issuer raises rates, others might do the same to keep profitable. Higher interest rates might also result from weak market competition or market concentration.

Conclusion

Finally, a variety of variables contribute to credit card interest rates that are so high. The need to pay potential losses and the default risk associated with unsecured lending are what drive up rates the most. Credit card firms’ cost of money, which includes borrowing charges, affects the interest rates that cardholders pay. Higher rates are also a result of the operational expenses incurred by credit card companies, such as fraud prevention and customer service. Regulations put in place by the government increase operating costs and affect interest rates. Market competition is also a concern since issuers alter their rates in reaction to changes in the market and factors that affect profits.

[n0nsensew0rds]

Again, the premiums you're referencing are taking into account specific demographics-- usually the average 27-year-old white male. As a woman my premium was innately higher than a man's living in the same area. Looking at the full demographic average is more important than looking at the lowest possible number; we've all seen sales 'starting from' a particular price and know that, in practice, nobody is getting away that cheap.

Additionally, my issue with the cost is also based on that base cost. I think it's a better situation for everybody to pay less on average than it is for some people to pay nothing while others are paying out the nose for an equivalent product. Of course there are always going to be discrepancies between the needs of demographics and the cost of insurance should be adjusted because of it-- that same 27-year-old man is much less likely to use his insurance for ongoing health care than a 60-year-old man.

However, two 27-year-old men with different income levels shouldn't be paying such a massively different price. The ACA's subsidies (for a Bronze tier plan) will cover the full cost of insurance up to 150% of the poverty line-- currently $22500 for a single individual. Once you start making more than that the subsidies rapidly drop off and the premiums rise, which is the 'donut hole' I referred to earlier-- people making enough money that they no longer qualify for subsidies (thus eating the full cost of the premium) but for whom spending an extra $400 a month on insurance is still untenable. Between grocery shopping, utilities, credit card bills, loan payments, and rent/mortgage, that $400 is a lot of money going toward a service they might not want or feel they need.

Regarding the foundational costs--

We have issues with both the cost of health insurance and the underlying cost of health care. As far as the cost of insurance:

Government guarantees -- when the government guarantees payment then there's no incentive to keep cost down. When you're dealing with individuals you have to make sure your services are affordable to as many people as possible within your target demographic (in this case, you're appealing to every adult in the country). When the government assures you that they're good for payment, you have carte blanche to charge pretty much whatever you want because the government will just make money happen. On the front end this is fine for people who qualify for assistance, but if you don't, you're now saddled with the inflated cost.

Limited Competition -- This is in regards to both overall competition and to the plans offered by each provider. Health care could only be sold within state lines, limiting the available competition off the bat and limiting it even more when smaller companies collapsed when the ACA went into effect, limiting marketplace options to only a couple of providers or, sometimes, only one, meaning there was no competition and no need to offer better services or better prices.

Limited Options -- The options for plans were reduced; where a healthy young adult could previously buy low-deductible disaster insurance (no coverage for doctors or meds but good coverage for emergency hospitalizations) or somebody with a severe condition could get a plan that was specifically made to cover the needs of that condition, the ACA enforced bare minimum coverage. You can no longer buy an emergency plan; you must pay for a plan that will (eventually) cover doctors and medication when you reach the (very high, for Bronze plans) deductible. Women are also forced to buy plans that cover maternity and child care, even if they won't or can't have children, increasing the cost of insurance. Limited options were generally an issue before the ACA s well, as most providers have package deals for plans instead of letting you customize according to your needs, but the government mandates restricting these options even more didn't help.

As for the cost of health care:

Limited Competition -- Again. Only certain drug manufacturers in the US are allowed to manufacture certain drugs. While there are obvious safety concerns to be taken into account to make sure medications are as safe as possible for as many people as possible, in practice this often results in favors being done for a small number of manufacturers, authorizing them to produce medications while preventing competition. Insulin, for instance, is actually a very cheap thing to produce, and we've known how to produce for a century now-- but only one manufacturer was allowed to produce insulin in the United States, allowing them to charge exorbitant rates because they were the only option. The solution here isn't necessarily deregulation (of all the things that have high regulation, medicine definitely needs it) but looking into why only certain manufacturers are given the right to produce these medications and making avenues for others to do the same.

Subsidizing Other Nations -- There's an international drug pricing index that the vast majority of industrialized nations are part of. This index regulates the cost of drugs and caps them at a certain level. For some reason, the United States is not part of this index, meaning that the drug companies make up the profit they're losing in other countries by overcharging the US consumer. I don't know if you recall this but Trump was trying to actually get the US signed on this scheme, which would have dramatically lowered the price of drugs in the US in exchange for raising it in other countries. (The German Prime Minister actually cried about how unfair this would be.) I remember talking about this to a pharmacy wholesaler around 2018-2019 and hearing about Trump's intentions shortly thereafter, so if I'm being charitable it was probably disrupted by COVID. Why it wasn't revisited afterward, I can only speculate.

Doctors are Expensive -- And there are multifaceted reasons for this. Part of it is that the up-front cost of becoming a doctor and opening a practice is very high, between the rising cost of medical school and the regulations that have to be followed to do so, meaning that doctors have to pass their own costs on to consumers. (Another point where regulation and certification are obviously extremely important, but the costs should be easier to mitigate-- but the obscene price of higher education is its own issue.) This winds up also contributing to not having enough doctors for the population at large; offices are packed with people and doctors basically have to address a conga line of patients through the day, leading to higher costs, less specified care, and a probably knock-on effect of sick people not seeking help early in their illness, when it would be easier to deal with, causing greater complications and an increased strain on resources.

General Issues with Individual Health -- We have an unhealthy population and a lot of people actively pushing for people to be and remain unhealthy, which causes an increased strain on resources and leads to overall higher costs. This is a bit more esoteric, but I think we would go a long way toward improving both costs and general health by teaching proper nutrition and cooking to a broader sect of the population. Fixing people's underlying health reduces pressure on the system and mitigates the need for more medical intervention.

We Need Less Medical Intervention -- Kind of related to the above but we also have an over-reliance on medication to fix problems. Reducing a reliance on medication when other options are available should be prioritized. I think this partially ties in to how we have too many patients per doctor; it's easier to throw pills at somebody than to assess their individual needs.

Follow the Money -- This ties in to everything, on every level. A lot of issues are caused by a prioritization of money over health. This can't be entirely avoided and I don't really begrudge manufacturers from wanting to make a profit (especially because R&D is extremely expensive and if they don't recoup the costs, guess what? No more medicine), but there are incentives and blockades up and down the chain that must be addressed. From the aforementioned companies that have exclusive manufacturing rights to government incentives prioritizing medical intervention and higher-cost treatments, there are loads of pressure points where money is used as an incentive to force more expensive (and ongoing) care.

Retail Rates -- This is wildly variable but during my pharmacy work I got to see the price of drugs, from wholesale to retail. My favorite places to work were the ones where I saw both simultaneously. Most common drugs have a minor markup. More specialized drugs might see a markup between 50% and 700%. Some markup is necessary -- you have to compensate for the cost of the distributor buying the drug, transporting it, storing it, the labor involved in processing, it makes sense -- but more specialized drugs almost universally are outrageously expensive on the consumer side. The pharmacy techs would often be appalled when I asked for a price reference. And the reason they can do this?

Obfuscation -- I think this is maybe the most insidious. The fact is, people don't know what health care actually costs. During my work in pharmacies I would see the difference between what a person was paying versus what the drug cost. There's a huge difference in attitude when you see "You pay $0" versus "Your insurance saved you $1970"; they both mean the same thing in this case, but the latter really makes you wonder why is it so expensive? This applies to things like ER stays and testing. How expensive is an ultrasound? An MRI? An EKG? I've recently gone through an extensive gauntlet of medical testing and I have no idea what it cost because my insurance pays for it and we say nothing else. Even my doctors have no idea what it costs. This is almost certainly by design; if everybody knew what the underlying cost of their treatment actually was, they would be furious. That said, I have overheard some of the reasons things cost so much, and one of them surprised me.

Foreign Nationals Getting Elective Surgery -- I believe this only applies to specialized and elective surgery, but we as a nation have many of the best medical facilities in the world. Many foreign nationals prefer to have their surgeries done by doctors in the States than in their own countries. To dissuade this, the base cost of these surgeries is made prohibitively expensive, with the understanding that foreigner trying to use our resources will have to pay the full cost of the surgery while our own citizens who are seeking these services will have them covered almost entirely by insurance. This one I'm less familiar aware of than anything else on this list, but given the above tendency for obfuscation I can believe it. This is probably a pretty minimal issue in the grand scheme, but it does explain why certain procedures have such a high up-front cost when it seems like it shouldn't be necessary.

Finally:

People Taking Advantage of the System -- I don't mean the downtrodden of our own country. Apparently there's an issue near the border where foreign nationals will cross over the border and take advantage of our emergency rooms (where you cannot be denied treatment even if you cannot pay). What I heard specifically is that thousands of people use this to get free dialysis treatments-- done three times a week for thousands of dollars each session. Because it's done through an emergency room there's no up-front payment, because they aren't citizens they don't have social security numbers to track, and because they just run back into Mexico they can't be tracked down and charged. This is tens of millions of dollars every year being bled from these facilities, and the cost winds up being put on our own citizens to make up the difference. I'm sure this is taken advantage of all across the nation in different ways, so the people who play by the rules wind up paying for those who refuse to.

I actually put this at the bottom of the list because, while it's certainly a problem, it's hard for me to justify refusal of medically necessary services to those who can't afford them. While I think that not letting people run across the border to take advantage of our services would be, you know... great... you wind up with situations like how would you enforce that? If a foreign tourist suffers a heart attack do you deny them service because they aren't a citizen, even though they're here legitimately? Do you make people provide some kind of collateral? Do they have to have an address to bill? Then then you can't help the homeless. On and on and... maybe there's a way to address this in a humane and sensible way. Maybe.

However, the addressing the bevy of other reasons that health care is so expensive (and I'm sure this list isn't exhaustive) would go such a long way to helping regulate costs that it would make eating the costs of those abusing the system would be much more tolerable. If treatment itself cost half of what it does now then that's already half the cost mitigated.

And all of that said, I don't think the ACA was an unmitigated disaster. Removing the individual mandate went a long way to easing the burden on people. I think making it illegal to deny coverage for people with preexisting conditions is fantastic. I think that subsidies should be available under certain conditions, but as a separate program rather than baked into the system (to discourage people taking advantage of government guarantees).

But the actual scope and implementation of the ACA was a bandage applied to a snake bite. You're covering up a wound when you need to drain the venom.

[whentherewerebicycles]

i am not reblogging this post from OP (posted 2 days ago, with 4,400 notes and counting) because i know that often people are just making their own vent posts on their blogs and maybe don’t expect them to circulate widely outside of their small tumblr circle! and i don’t mean to like, jump on someone who is just commenting on something and then going on with their life. but i feel like i keep seeing versions of this sentiment on leftist twitter too and i really think it is a gross misrepresentation of the bill that passed earlier this month - which is due in part to social media’s intense focus on the “stimulus check” part of the bill. but the bill was not called “the stimulus check” act! it was called “The American Rescue Plan” and it was specifically geared towards providing desperately-needed relief to the American middle & working classes. the $1400 direct payments to individuals was just one small portion of the bill. here are the far more important parts:

in addition to receiving a $1400 direct payment themselves, individuals with children receive an additional $1400 check for each dependent

college students who are still listed as dependents on their parents’ tax forms (typically so they can retain health insurance benefits under the ACA) can more easily claim stimulus money - which is huge for college kids who may be helping to financially support immediate or extended family members

unemployment benefits have been extended from March 31, 2021 (their original expiration date) to September 6, 2021

unemployment benefits will be supplemented with a $300 weekly payment (ie $300 on top of what people are receiving from their state government)

unemployment benefits received in 2020-21 are tax-exempt (a retroactive change that means people who are unemployed won’t receive a surprise tax bill counting their unemployment money as “income”)

a substantial tax credit for employers who offer paid sick leave and paid family leave benefits (ie creating a direct incentive for employers to authorize emergency paid leave)

15% increase in food stamp benefits and extension of eligibility

child and family tax credit benefits!!!! this is the part that people are describing as one of the most significant anti-poverty initiatives in American history. families are eligible for a tax credit of $3600 for each child under the age of 6 and $3000 for each child between 6-18. people can also claim a child and dependent care credit with a maximum benefit of $4000 for one eligible dependent and up to $8000 for two or more. it also expands the earned income tax credit and lowers the age limit to 19. dems also pushed to get at least 50% of the tax credit money to people this year instead of making them wait for their 2021 tax return. this calculator allows you to calculate how much families will receive. if you make $50,000 a year and have four children, you will receive $13,200 through the child tax credit alone, paid out in monthly payments of $1,100 from July to December 2021 + an additional $6,600 lump-sum payment when you file your 2021 tax return early next year. there are also some additional dependent-related tax credits things that I don’t fully understand but that seem to indicate people are eligible for even more money.

forgiven student loan debt is made tax-free (a necessary prerequisite for future efforts to cancel/forgive student loan debt)

huge expansion of grant benefits to small businesses, including $28.6 billion specifically for bars and restaurants; $15 billion for low-interest, long-term replayment emergency disaster loans; and $7 billion more for the paycheck protection program (which can only be used on payroll expenses and makes it possible for small businesses to keep workers on payroll even if they are operating at lower capacity). you can describe this as “for the economy only” if you want, but I sure feel like it will alleviate a whole lot of human suffering by allowing people to keep their jobs & paychecks even if their workplaces remain partially shut down. my dad is a small business owner and has been able to keep his entire staff on payroll through the entire pandemic. the bill also includes billions for airlines and concert venues, which will again! means people won’t lose their jobs!! plus it allocates $175 million to fund a Community Navigator Program that reaches out to eligible businesses and helps guide them through the application process—ie making it possible for small businesses to actually take receive these benefits.

$350 billion to state, local, and tribal governments

$130 billion for K-12 schools to improve ventilation, reduce class sizes, purchase PPE for employees and students, and hire support staff; of this money, 20% must be dedicated to programs designed to counteract “learning loss” from students who missed school during the pandemic

$40 billion for colleges and universities, at least $20 billion of which must go to emergency grants to students (our university has been giving regular emergency grants throughout the pandemic to students to help cover rent, unexpected medical expenses, costs related to family emergencies or lost family income, tuition bills that they suddenly can’t pay, fees associated with wifi or purchasing tech equipment so they can learn virtually)

a HUGE amount of money four housing benefits!!!! i keep seeing people yelling about how $1400 won’t cover their rent but THAT’S WHAT THE RENTAL ASSISTANCE PROGRAMS ARE FOR. $21.6 billion in rent and utility assistance, paid directly to states and local governments so they can disburse it to eligible households!!! plus $5 billion to Section 8 housing (which “must go to those who are or were recently homeless, as well as individuals who are escaping from domestic violence, sexual assualt, or human trafficking”).

$5 billion to support state and local programs for homeless and at-risk individuals (can be used for rental assistance, homelessness prevention services, and counseling; can also be used to purchase properties that will be turned into permanent shelters or affordable housing for people who are homeless). plus an additional $120 for housing counseling.

$4.5 billion earmarked for a special assistance program that helps low-income households cover costs of heating and cooling and $500 million to cover water costs

$750 million in housing assistance for tribes and native Hawaiians (who are also eligible for other benefits through the rental assistance and direct tribal government grants described above)

and then BILLIONS of dollars to support FEMA, the Veterans Affairs’ healthcare system, the CDC, and state, local, and territorial public health departments for all things related to: COVID testing, contact tracing, vaccine production and distribution, vaccine outreach, PPE, and public health education. this includes (among many, MANY other things), $5.4 billion to the Indian Health Services (division of the Department of Health and Human Services that specifically provides health services to Native people and tribal territories), $200 million for nursing loan repayment programs, $80 million for mental health training, $3.5 billion in block grants specifically geared towards community mental health programs and substance abuse/prevention/treatment programs

$86 billion for a rescue package for pension funds (esp union-sponsored pension funds) that are on the verge of collapse - collectively covering 10.7 million workers.

billions of dollars for public transit programs (and sure, public transit is important to the economy, but access to regular, reliable, affordable, and safe public transit is HUGELY important to human health and well-being! it is how many people esp in urban areas access grocery stores, health care, their jobs, childcare facilities, etc.

$10.4 billion for agriculture, of which $5 billion is specifically earmarked for socially disadvantaged farmworkers. to quote wikipedia: “Experts identified the relief bill as the single most important piece of legislation for African-American framers since the Civil Rights Act of 1964.”

tons of money to fund 100% of premiums for COBRA (health insurance for people who have unexpectedly lost or had to leave their jobs) through October 2021. COBRA is hella expensive and experts estimate that 2.2 million people will need to enroll for COBRA benefits in 2021. there are also various provisions that expand Medicaid and the Children’s Health Insurance Program (a program targeted at uninsured children in families who don’t qualify for Medicaid but may not be able to afford adequate healthcare coverage. it also fixes some things with the ACA that could’ve led to people getting surprise bills due to fluctuating income or unexpected changes in employment status.

i am SO OVER the so-called ‘progressive’ rhetoric that no good can ever come from the government, or that all politicians (dems or republicans) are basically the same level of evil and incompetent, or that ~mutual aid~ (ie small payments made between individuals in a community) is the only thing we can count on or should count on in times of crisis. no!!!! fuck no!!!! like mutual aid is great but America is an INSANELY WEALTHY country and it is such bullshit to act like we can’t or shouldn’t expect our government to take care of the people who live here. and i am also just GRAHARRGHGHH at people who are completely disengaged from politics offering their jaded and hyper-cynical hot takes on things they don’t! actually! know! anything! about!!!!!!! and in the process making other people increasingly jaded and cynical about the possibility of electing a government that actually prioritizes the needs & well-being of its citizenry!!!

ugh i’m just TIRED of leftist political cynicism y’all especially when it comes from people who have absolutely no understanding of how much WORK it takes to make huge things like the American Rescue Act happen (work that includes not just the immediate negotiation of the bill but also the years of organizing & voter recruitment work it took to get a narrow democratic majority in the senate so that we could pass things like this!!!!). I’M DONE WITH BEING CYNICAL!!!! i feel, in a totally earnest and unjaded way, that it’s absolutely incredible that dems were able to write, negotiate, and pass this bill, and i feel so so so relieved to be currently living under an administration that is flawed in many ways but is at least actually and earnestly TRYING to reckon with unprecedented “suffering in an actual human scale” (to quote OP) and is even using this crisis as an opportunity to advance major anti-poverty initiatives that will have a LASTING IMPACT on actual human lives. as opposed to our previous administration, which was made up of thousands of people who woke up every single day and asked themselves “what can I do today to further dehumanize & inflict needless suffering upon millions of people?”

PHEW!!!! SORRY!!!! JUST HAVE A LOT OF FEELINGS I GUESS!!!!!!!!

[nemodeutopia]

This is basically a 1000-word essay, so I’ll put this up here, but do encourage you to read, especially if we disagree and someone sent this to you in a desperate gamble to make you understand.

TLDWR: capitalism does all the ooga-booga that people say socialism does anyway, and the failings are all exactly the same and happens regardless of what economic system you use. Call it what you want, but make living independently actually possible, and the village people will be much less likely to come at you with our fucking pitchforks you idiots.

The reason I believe minimum wage is insufficient and the rich would be fine if they were more heavily taxed:

A lot of these numbers have been simplified to make it easier to follow, but other than the hypothetical 10% tax, they are all roughly accurate to what I could find researching.

If my tax rate is 10% and I make $300 dollars a week, then that leaves me with $270 a week. Take out for groceries at an average of $50 I have $220. Assuming that I don’t have any prescriptions, or rent, or cable, or gas, or utilities, or really anything else considered mandatory for adulting, then that’s not bad, right? But, most people do have those other things, so that’s not so good. So, instead, we make cuts here and there, eat less healthy, decide we probably don’t need to go to the doctor for that pain, because maybe it isn’t something serious after all, and if it is serious, we may have to miss work, and then we may get fired.

If the rich have a tax rate of 10% and make 5,000 dollars a week that gives them 4,500. They would pay more a week in taxes then I make in a week. But they would still have plenty of money to live comfortably.

Rounding down on most things here, but average rent for America is ballpark $1000 a month, mortgage rates I found reported around the same. And that is of course assuming that you qualify. Bear in mind that apartments can require that you make, for example, double the cost of living there as a security measure, and banks will turn you down if they believe your income is too low for a loan. Phone $100. Medical I won’t even presume to make an average on because insulin costs more than most gaming consoles. And I highly doubt the richest of executives is buying one of those every month. I also won’t touch cars, as gasoline prices fluctuate and mpg varies. A monthly pass for public transport, if you’re lucky enough that your city has reliable transport, averages at about $60, but closer to $100 isn’t super unusual for big cities.

So, changing that weekly take home of $270 to a monthly of 1,080 and check it against those prices. Assuming that utilities is included, which covers things as basic as trash disposal and plumbing, we are in pristine health and insurance is paid for and half way decent, which is not a given, as well as no student loans since we’re working on federal minimum wage here, we get to keep negative $80. It costs $80 more than you make at federal minimum wage to live for a month as an independent human being.

Reminder, the -$80 average I found does not include: Food, any form of health care, any utilities, clothing, internet or entertainment outside of what comes with your phone plan, transportation outside of public infrastructure, any surprise fees or expenses of any kind.

I am not touching education costs, including the additional cost of public school. I could make a whole post off the cost of public education without the rest of this depression inducing rant.

At above what Obama wanted to define as wealthy you could do that working one week a month and still have money to put back in the economy.

I grant that this was done off (just above) the federal minimum wage, so most people are probably making more money than this, especially if they’ve been in the same job for a while. But I also took the national average costs for most of the expenses. And anyone working for tips can very easily be making about half that. You also may have noticed that I didn’t include grocery in my monthly figure, because while everyone eats, the cost varies widely, and you can get free food if you need it from banks, churches, your job if you’re in that area of the service sector and lucky, etc.

Yes, if you just start printing money and handing it out, inflation is going to ruin life. But, if you redistribute existing wealth instead of letting it amass and be hoarded by a handful of individuals who basically just pass it around among themselves if they do anything, while still collecting more, then instead there would be a still largely constant amount of wealth, but it would be used instead of artificially rarified (now) or drastically devalued (creating new currency and adding it to the pile).  The people who say we can’t just pay people more willy-nilly aren’t wrong unfortunately. And I can certainly understand how someone who has their life style assured struggles (whether through managing to claw up, surviving to the point where it assured by government support paid by with taxes, or some combination) to understand the plight of those who don’t without realizing the climb keeps getting steeper.  Presently, people who are actively doing and creating are inevitably passing the money they earn back up to the people who do not, who pass a fraction of it back. Instead of just increasing the amount of currency, now largely a digital entity, so at least we don’t have to trade our wallets for wagons, we need to ensure circulation and assess distribution.

A lot of people don’t like the “s” word, even people on social security will talk about how socialism would destroy this nation. There are also people who believe minimum wage raising would destroy industries. They don’t think it’s fair that the rich should have to pay more. But, if the rich paid 10 cents on every dollar they brought in, they honestly might not even notice. If a person working minimum wage pays 10 cents on every dollar they make then they probably need to live with other people and pool all their recourses in a communal setting while politicians and the wealthy eat expensive meals, spend extravagantly and don’t suffer in the least, like in *insert current socialist or communist boogeyman state* but with the “average” person being aware people are living like this and not personally seeing it.

MacKenzie Scott has proven that the ultra-wealthy would not suffer from increased taxation by, essentially, cutting out the middle man and almost privatizing socialism, as absurd as that sounds. Dolly Parton is also an individual who proves that obnoxious levels of wealth are still possible while distributing wealth to those who don’t have it, though I don’t know as many of the particulars with her. I do know they both, as well as others I do not know, choose to redistribute their wealth to lower social rungs and are still fabulously wealthy.

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 Webull is safe because it is regulated by top-level financial authorities.it provides a maximum of $500,000 investor protection, including a $250,000 limit for cash under the Securities Investor Protection Corporation's (SIPC) protection scheme. It is part of Webull Financial LLC and is licensed to carry out brokerage activities in all 50 United States.

 Is webull good for trading?

Webull doesn't have a minimum deposit requirement to get going. You can join Webull and start investing with just a few dollars. Webull offers some of the most competitive margin rates in the industry. And unlike main rival Robinhood, Webull doesn't require a subscription. Many brokers' website offer cash bonuses for new account creators, but that only after users meet certain minimum deposit requirements. Webull gives free stocks to customers with small deposit thresholds. These stocks are worth anywhere from $2.40 to $1,500 per share. Currently, just $100 is required for the best bonus. It will offer you a unique community experience.

Eligibility of Joining Webull:

1. Webull only accepts account applications from U.S. residents. 2. You will need to be at least 18 years old to create an account. 3.you have to verify your US identity and residency status. 4.YOU have to upload a copy of your government-issued ID, and your social security number.

 How to create or open an Account on Webull?

You must open an account on the app>Then Choose your account>make sure you have selected the right type of brokerage account>Add personal info >Identify yourself >Seal the deal>Fund your account>enjoy.

 How long does webull take to approve?

Most account applications will approve within one hour. It might take more time if your application needs further verification.

  Advantages and disadvantages of Webull:

 Advantages:

1. Webull offers commission-free US stock, ETF, and options trading with no inactivity fees. 2. No minimum deposit requirement 3. Zero commissions on trades 4. Several asset classes available to trade 5. Cryptocurrency trading 6. After-hours trading available 7. Advanced charting 8. Level 2 data from NASDAQ available. 9. Traditional, Roth, and rollover IRAs available 10. App, web, and desktop platforms available Paper trading.

 Disadvantages:

1. Does not support trading in mutual funds 2. Does not support trading in bonds 3. Does not support trading in OTC stocks

Webull’s total Commissions and Fees: Webull is Really Free!

The enticement of fee-free trading in the online investment space has seen a big change in the industry. Traditional brokers are now being challenged by start-up platforms that have found a way to make money without charging their investors. Webull users can connect real-time U.S. market data completely free. This indicates not only real-time price quotes but income statements, balance sheets, and cash flow reports. Minimum Deposit-$0.00 Stock Trades -$0.00 Stock Trades (Per Share)-$0.00 ETF Trade Fee-$0.00 Mutual Fund Trade Fee- free Base Fee-$0.00 Exercise Fee-$0.00 Assignment Fee-$0.00 Per Contract-N/A Broker Assisted Trades Fee-N/A

 Webull and others:

Robinhood is Webull’s main competitor. Both companies are trying to be Walmart brokers by offering the lowest price possible to those looking for bargains. Those bargain-seekers are by and large millennials, this is why both companies took a mobile-first approach and only developing desktop and web apps after establishing themselves in the trading industry.

Another one is TD Ameritrade. After testing 11 of the best online brokers over the years, TD Ameritrade is not better than Webull. Webull delivers $0 trades, fantastic trading platforms, excellent market research, industry-leading education for beginners, and reliable customer service.

Webull vs. Robinhood: Commission and Fees

Undoubtedly, commissions and fees are a big part of the whole picture. We compare Webull and Robinhood wide open in order to evaluate both.

 Webull’s Fees:

Webull has no fees or commissions on any stock or ETF trade. All you will pay is the spread and SEC transaction cost, those are the portion of a copper penny. You can transfer money in and out of your account without fees using ACH, as domestic wire transfers cost $8 per deposit and $25 per withdrawal.

Global wire fees are $12.50 and $45, respectively. Margin rates start are 6.99% for up to $25,000.

 Robinhood’s Fees:

Robinhood is also commission-free on all trades, including options and cryptocurrency trades. Surplus is available over Robinhood Gold, but there’s a $5 monthly fee.

The first $1,000 of margin can be borrowed interest-free, and you will get it as a bonus. After $1,000, rates are 5% only. Only ACH transfers are permitted to fund your account, so there will be no fees on deposits or withdrawals.

 Webull’s finest Customer Support:

 Webull’s customer support is often accessed through email, which is not that the only method mentioned on its website, but also there is an online web chat option or telephone number. Moreover, Webull’s customer service does reply within 1 hour of a question.

Only Webull’s help page offered any sort of customer support, then only within the sort of FAQ.

Webull’s FAQ page does offer you detailed information on opening an account and therefore the funding and transfers of money and stocks. It also features a Trading on Webull section with information about commissions and costs, tradable assets, and order types.

The FAQ sections found on the assistance page can answer your basic questions. Email Webull for more details or to talk with a Webull agent for more information or further assistance.

 Webull referral system:

Along with their account creation promotion, Webull additionally offers a Refer-a-Friend form of program. However, this small little bit of promotion is slightly less simple in terms of the manner that their directions are read.

Unfortunately, you won’t receive any free stock just because an addict you refer exposes a replacement account. This friend can get to deposit a minimum of $100 among the first thirty days of their account being open for you to reap the rewards.

A decent side to the current incentive is that you simply will repeat it indefinitely, with decreasing returns when the first 2 referrals have met completion requirements.

In keeping with their terms and conditions, which are additional clearly worded than the promotion itself, the benefits of the referrals are as follows:

Upon completion of your first undefeated referral, you'll receive four free stocks.

Your second successful referral can award you with seven free stocks.

Every resultant referral will award you two additional stocks.

This stock choice pool is analogous to the one antecedent represented among the account gap promotion. They're aiming to be from firms listed on the New York Stock Exchange or information system that are U.S. based mostly and have a minimum market cap of $2.5 billion.

However, not like the account gap promotion, there will appear to be a one/50 or 1/100 likelihood to accumulate securities from bound companies. however, it does follow identical odds to your initial $100 deposit.

Odds of stock valued at $8 to $30 approx. 1 in 1.02

Odds of stock valued at $30 to $100 approx. 1 in 52.63

Odds of stock valued at $100 to $200 approx 1 in one,111.11

Odds of stock valued at $1,000 to $1,600 approx 1 in 10,000

 FAQs for Webull

 How does Webull make cash?

Webull doesn’t make money from trade commissions that makes many of us surprise, however, the corporate makes money. Webull makes money from the subsequent revenue streams:

Margin rate: This represents interest paid to Webull once people borrow money to invest.

Stock loans: Webull might lend securities and make the most of loaning those securities. Your securities are still out there if you wish them.

Interest on free credit balances: money sitting in your account doesn’t pay interest to you, however, Webull will earn interest on it.

Is Webull smart for beginners?

Webull might be a good choice for lettered beginner investors that perceive investments in construct however haven't started commercialism yet. New investors who are learning the way to invest cash would probably be higher suited by different platforms that provide a lot of instructional resources. Fully new investors might like Robo-advisors that guide them through the finance process.

Is Webull legit and reliable?

Yes, Webull is a legitimate brokerage you'll use to take a position in stocks, ETFs, crypto, ADR's, and options. It's registered with the SEC and is a member of FINRA, SIPC, NYSE, NASDAQ. Webull’s customers rise up to $500,000 of coverage just in case the brokerage fails, and your securities go missing.

  A final thought about Webull:

 Webull is a well capable brokerage app for North American country traders. The app offers absolutely commission-free commerce with no account fees, so it’s really a cheap choice for purchasing and merchandising stocks, ETFs, options, and cryptocurrency. We also like that Webull provides traders access to almost the whole US stock market, with the notable exception of penny stocks.

What really sets Webull different from other brokerage apps is that it offers a big variety of advanced charting and analysis features. You'll read extremely customizable technical charts for any plus furthermore as fully customize any of fifty popular indicators. Webull conjointly permits you to import Level a pair of Advance knowledge from the information system, so you'll track order flows through the market.

In addition, the app includes analyst recommendations and worth targets for many widespread stocks. A basic social network lets you see what different traders place confidence in different assets and swap ideas.

Webull is rising as a legitimate challenger and various to Robinhood, growing its client base to a possible variety of two spots among online brokers serving retail traders. This relative newcomer within the zero-commission online commerce world endlessly broadens its merchandise to satisfy its clients and leverage its commerce platform. Webull brokerage is best for those who will handle their own customer service and have some investment information and experience. If this looks like you, positively take into account giving Webull a try and take the benefits of webull.

[custom-made-mirrors]

Tips For Finding the Best Personal Loan For Home Improvement

Home improvement, home remodeling, or renovation is the act of making additions or renovations to one's house. In its most basic sense, home improvement means making your house better than what you currently have it. The act of improving a home could be anything from putting a new coat of paint to fixing your roof. Home improvement could also mean incorporating some type of garden feature such as a pool or a garden shed. It could also include building new homes or adding on to an existing one.

There are now literally billions of dollars being spent each year in the United States on home improvement projects and renovations. Home renovation is a billion dollar industry with homeowners all across the country spending thousands of dollars on minor renovations. Home improvement contractors and services are required to meet a plethora of government regulations. These regulations are in place to prevent the unnecessary waste of money and protect the consumer.

As stated above, home improvement projects and renovations are required by law and they must be done properly and responsibly by qualified professionals. The contractors must adhere to regulations such as those set forth by the National Fire Protection Association (NFPA). When homeowners begin searching for a home improvement contractor, they must be sure they are hiring a professional who has the proper training and insurance. This ensures that the project will be completed safely.

For smaller home improvement projects and renovations, homeowners should try to coordinate with friends, family or neighbors who may have some extra knowledge and skills that can help improve the appearance of their home. The cost of the project will often depend on the extent and scope of the work needed. Many times these tasks do not require the purchase of expensive materials and supplies. In fact, many times a simple thing such as a new nail or a bolt of hardware can make a huge difference in the look of a room.

There are many job websites and blogs dedicated to helping homeowners plan their next remodel or renovation. In addition to home improvement job sites, many homeowners also choose to post videos of their renovation on YouTube. Videos posted on YouTube can reach millions of viewers worldwide. Videos of a home renovation are often the first introduction people get to a new remodeling project. Click over here frameless bypass shower doors

If you decide to remodel or renovate your home yourself, you should plan carefully. Home improvement loans can give you the funds you need, but they come with a lot of interest. Interest rates for a home improvement loan are often very high. Before you apply for a home improvement loan, take a good look at what interest rate the lender is offering. You may also want to request free quotes from several lenders in order to determine which lender offers the best interest rates and terms.

Most home improvement loans are secured with your home equity. This means that if you cannot make payments on time the lender will take your home equity and use it to pay off your home improvement loan. If your home equity does not increase enough during the time of your loan, you may still be able to pay off your debt. But remember that interest rates for a home improvement loan are based primarily on your credit rating and your debt to income ratio.

Be sure to keep up with your payments. Always pay your bills on time, even after you receive your home improvement loan. It is better to overpay for your personal loan than to fall behind and have to wait until your payment is due again. If you are struggling with debt, talk to a credit counselor to find out what options you have for working to reduce your debt. With some responsible money management and the correct perspective, it is possible to find low interest rates on your home improvement loan.

[aargoev]

Benefits of EV Charging Business

EVs can also reduce the emissions that add to environmental change and smog, improving public health, and reducing ecological damage. Charging your EV on sustainable power, for example, solar or wind minimizes these emissions even more. See the difference in emissions between a conventional vehicle and an EV utilizing the calculator on the right.

Tax Advantages and subsidies-

According to a statement by the Finance Ministry, the GST rate on EVs will be reduced to 5% from 12%. The government will provide an additional income-tax deduction of ₹1.5 lakh on the interest paid on loans taken for the purchase of EVs. This amounts to a benefit of around 2.5 lakh over the loan period to the taxpayers who take loans to purchase electric vehicles. In order to make infrastructure for EV affordable, the Council also decided to lower the GST rate on the charger or charging stations for EV to 5% from 18%. Also, to make EV popular for public transportation, the hiring of electric buses (of carrying capacity of more than 12 passengers) by local authorities will be exempted from GST.

Attract and Retain High-quality employees-

Adding EV charging stations to company buildings is a huge advantage for employees— it encourages and facilitates their experience using EV vehicles. Think about the number of hours an employee parks in your lot. All of those hours could be utilized for charging their car, which is a significant advantage, particularly for employees who might not have a home charger.

This advantage can help decrease commute times in territories where EVs meet all requirements for carpool paths. All of this implies that the expansion of an EV charger can be a ground-breaking negotiating tool in retaining and holding talented workers. proprietors express strong interest in work environment charging, and numerous businesses already see the importance of introducing charging stations.) As an added bonus, if your organization’s premises service clients face to face, charging stations offer a special incentive for them to pay you a visit.

Promote Sustainability-

If your business is pushing a sustainability strategy, adding EV charging stations is probably the simplest step you can take. By adding charging stations, you demonstrate to both your employers and customers that you are taking action to promote sustainability and do your part in reducing emissions. In the event that you want to include EV charging as a feature of corporate sustainability strategy, it is easy to go with a smart EV charging infrastructure. Smart EV charging frequently incorporates a dashboard.

Entice Customers

Adding charging stations can help you entice customers in two key ways- Build Goodwill-Consumers, especially millennials, increasingly care about associating with corporations that promote sustainability. They are more motivated to work for a company that produces a product or service they believe in and also create it in a responsible way.  Attract customers with EVs- Charging stations can also attract new and loyal customers eager to patronize businesses that are supporting the transition to electric mobility. If you run a restaurant or a hotel, you might entice customers with your charging stations who might otherwise go somewhere else.

Increase your Footfall-

Using Apps, EV drivers can discover areas to charge their vehicles. If you introduce an EV charger on your business premises, it will feature on these applications and could increase the probability of visitors to your business. A significant number of these visitors could be local, yet some may be basically passing by and need to stop and charge. EV chargers could expand your brand awareness and these visitors could quit charging their vehicle and become one of your customers.

2. Generate revenue through selling electricity-

By installing an EV charging point outside your business, you could generate additional revenue by selling the electricity to the EV driver. Businesses can retain a profit on the price the driver pays to charge their vehicle, so the more EV charging points you have the more revenue you could generate.

Benefits of EV charging stations at various business centers-

Restaurants

Visitors will stay longer-Electric cars typically need to be charged for at least an hour, which means that any visitors who are using your charging station will stay in your facility for at least that time. That means they’ll be more likely to opt for dessert, drinks, or coffee. Will attract repeat customers-A restaurant that offers EV charging stations is very likely to attract repeat customers. Electric car users will know that your facilities are able to accommodate their needs, and they’ll be more likely to choose you over competitors.

It will be recognized as environment friendly-Many consumers are very concerned with the environmental impact of their choices, and if your restaurant has an EV charging station, it will enhance your company’s image. When consumers are looking for an environmentally friendly choice, they’ll choose your restaurant.

Hotels

Profit from Fee-based charging or offer as a complimentary service.

Attract new Ecotourism and electric car driving premium guests.

Increase revenue per available room.

Get higher ratings and positive reviews on popular travel sites.

Get your Hotel featured in map services and navigation systems.

Hospitals

The presence of EV charging stations gives the hospital or medical office a modern and sustainable appearance that fits the overall image that healthcare facilities typically portray: healthy living, scientific achievement, and cutting-edge patient care.

Why Should Healthcare facilities install EV charging stations-?

Providing valuable amenities for doctors, nurses, patients, and visitors who drive EVs.

Improving air quality and reducing emissions near sensitive communities.

Enhancing the visual appeal of the facility with high-tech charging stations.

Adding a “Green” dimension to the overall perception of the hospital.

Benefits of EV charging Station in Shopping Malls and Multiplex:

Shopping Malls and Multiplex

Attract EV Drivers-

Many individuals drive and park for their retail shopping trips—so many that the quantity of vehicles in lots is being utilized to anticipate the market performance for retail organizations. EV drivers clearly need to stop, as well, and they want to do it where they can charge. As the EV industry continues developing, EV charging will turn into a key investment for retailers that need to draw in EV drivers.

Increase Customer Spend-

Charging not only attracts customers and keeps them around longer, but can also increase the amount of time and money they spend in a store. One major retailer found that shoppers spent about a dollar for every minute they were in the store. By adding EV charging, the retailer tripled time in-store and, as a result, tripled customer spends. Now that’s a good deal.

Put your Store on Map-

EV charging also puts stores on the map—in a real sense. EV drivers depend on EV charging applications like Charge Point’s mobile application to rapidly discover places where they can charge. At the point when drivers search for spots to charge in our application, they can easily discover retail locations that offer to charge for their vehicles. Since EV drivers tend to charge their vehicles while they shop, having charging accessible can persuade drivers to pick a store over a competitor’s area.

Create Customer connections-

With smart EV charging that lets drivers interact with stations online or in a mobile app, retailers can create virtual “Connections” to drivers who use their stations. This just requires drivers to submit a simple connection request in the app and allows retail organizations to learn more about who’s using their stations and when giving them new insight into their customers.

Offer Special Deals to EV Drivers-

Retailers can build on these customer connections by developing loyalty programs that cater to EV drivers. Giving EV drivers special deals can bring them back to charge (and shop) even more often. Some sample offers that companies have created include free charging, free stays at hotels and even free wine tastings.

Corporate Parks

Customers stay for long-

Retail businesses benefit from EV charging stations. They motivate customers to remain and browse for more with straightforward parking facilities that can at the same time give charging benefits. Longer browsing increases the shopping basket.

2. Keeping employees happy-

Employees who feel valued by the business and whose needs are more engaged and productive. Providing essential electric charging for employees demonstrates a responsive and committed employer. Demonstrating environmental commitment and supporting brand value- Social responsibility is key for businesses today and enabling greener vehicles is a significant part of that. EV charging at the work environment sends a reasonable and clear message about where the business stands regarding reducing the ecological impact of its operations and personnel.

3. Improving efficiency and cutting costs-

Electric charging points at work may make life easier for employees; reducing time spent seeking out where to charge, for example. For companies where vehicle fleets are part of the business, there are opportunities to save on fuel and maintenance costs.

4. Providing convenience for clients-

Clients make decisions about which companies to partner with on the basis of a wide range of factors – and convenience is one of the most important. EV charging stations on the premises will be attractive as clients can simply fill up with charge while attending a meeting or site visit.

[missmentelle]

Hi. I’m reading your FAQ page and see that you’ve listed the suicide crises in First Nation communities as something you know about but rarely get asked about. As a fellow Canadian, I’d love to hear, based on your experiences, what’s helping the most in these communities? (Including but not limited to any recommendations for agencies accepting charitable donations.) Thanks!

Figuring out how to solve the suicide crisis among Canada’s First Nations communities, particularly Northern communities, is more of a PhD thesis than a Tumblr ask - there are no simple solutions here, and I certainly don’t have all the answers. This is more of a systemic issue than a matter of charitable donations; the issues in these communities are deep and complex, and what’s needed is widespread policy change, rather than intervention from charitable agencies. A lot of this crisis is deeply rooted in the fact that First Nations communities have been intentionally prevented from becoming self-sufficient and have been forced into a position of dependency on the federal government - trying to fight this crisis with charitable donations is well-meaning, but ultimately makes the issues of dependency and lack of autonomy even worse. 

The specific needs and issues of First Nations people vary from community to community, and I am certainly not in a position to speak for any of them, or make absolute statements about what they need to solve this crisis. However, many reserves and bands have been pretty vocal about what is needed to reduce the poverty and despair in their communities - and by extension, alleviate the mental health issues. Some of the big things include:

Giving First Nations communities autonomy over their own lands. Under Canadian law, reserves are considered “crown lands” - they technically belong to the Federal government, and individuals are not allowed to own the land they live on. Again, this issue is way more complicated than can be covered in a Tumblr post, but not owning land means that homeowners cannot take out mortgages and loans, since they have nothing to offer as collateral to secure the loan - so if they want to build a house, they have to offer 100% of the building costs up front, something that most people can’t afford to do. The result is that many First Nations families live in outdated homes that are not up to building code and are dangerously crowded. Not owning the land they live on also means that First Nations people cannot build equity, and face enormous obstacles in trying to start businesses - reserve land cannot be used as collateral, which can make it next to impossible for people on reserves to get the kinds of business start-up financing that other Canadians can get. Moving off reserve is also a lot easier said than done; many reserves are quite remote, and leaving is expensive. The lack of opportunity on reserves makes it difficult for First Nations people to secure the skills and work experience needed to compete in the job market, and starting over in a new city with no connections and no money is not necessarily going to improve your situation at all. Again, the solutions here are complicated - implementing private property on reserves is not a cure-all and is not necessarily the best solution - but the current situation is unworkable, and is contributing to a severe housing and economic crisis. 

Implementing high-speed internet access on reservations. This is actually a project that is being worked on now, but many remote and Northern communities in Canada have only the most basic of internet access. This is hugely crippling for those communities; it contributes to their isolation, restricts education and economic opportunities, and puts them even further behind in a job market that is increasingly tech-savvy. Implementing high-speed internet access also gives First Nations people improved access to mental health and medical professionals via Skype, or other forms of online communication.

Improved access to mental health and addiction services in remote communities. It is incredibly difficult to get mental health and addictions workers to actually stay in remote communities long-term - the conditions in these communities are harsh, the cost of living is high, and in the case of Northern communities, not everyone is equipped to deal with the “six straight months of darkness, six straight months of sunlight” thing that happens in the far north. Instead, most of these communities rely on “fly-in, fly-out” professionals, which are exactly what they sound like. A professional will fly into the community, stay for a few weeks to try to deal with the mental health crisis, and then fly out again, with a new person flying in to take their place. This makes it extremely difficult for people in these communities to get any continuity of care, and makes it all but impossible to develop a strong therapeutic relationship with one care provider. Creating much greater incentives for professionals to stay in these communities long-term and training people within these communities to provide services is something that’s sorely needed. 

Addressing the water crises on reserves. Many reserves and remote communities do not have access to clean drinking water, which is absolutely unacceptable in a nation that has the world’s largest supply of fresh drinking water. There are reservations that have been under “boil water” advisories since the early 1990s, which is unacceptable - there are First Nations people who are nearly thirty years old and have never been able to safely drink the water that comes out of their taps. This is hugely degrading for people who live in these conditions, it has caused numerous health issues and generally worsened the quality of life for people in these communities, and it underscores the pain that these communities feel at having their deep connections to the land severed and being treated as second-class citizens in their own homeland. Resolving this crisis needs to be a priority. 

Closing the First Nations education gap. Schools in First Nations communities are grossly underfunded compared to non-First Nations schools. As a result, First Nations schools struggle to attract and keep qualified staff, they struggle to meet the needs of an often deeply traumatized student body, and they generally struggle to provide the same caliber of education that other Canadian parents expect from their children’s schools. In urban environments, First Nations students attending mainstream public schools often face discrimination and don’t have access to the services that they need to thrive. As a result, graduation rates among First Nations youth are abysmal - 61% of First Nations people in Canada do not earn a high school diploma or equivalent by their 25th birthday. First Nations people who do graduate from underfunded First Nations schools are often well behind their peers who graduate from non-First Nations schools, which leaves them struggling to keep up when they attend university. Only 8% of First Nations adults hold a university degree, compared to 23% of the general Canadian population, and that number is even bleaker when look at First Nations people living on reservations. Not providing First Nations children with the education and the services that they need can leave them at a lifelong disadvantage, and contributes hugely to mental health issues and despair. 

Ending housing and employment discrimination. First Nations people face huge amounts of discrimination when it comes to applying for jobs or looking for housing in urban areas. Even having an obviously First Nations name can get your application thrown in the trash, and First Nations people who do land interviews for jobs and apartments often find that they are treated much more harshly as soon as they show up in person and their First Nations identity is discovered. Landlords will often demand extra documentation, demand months of rent payments up-front, or ask insulting questions about the First Nations applicant’s drinking habits. Facing discrimination when you are trying to land a job or find an apartment is humiliating and degrading, and ultimately contributes to despair and mental health issues. Stronger protections for First Nations people are needed, and more resources are needed for people who’ve faced discrimination to report their experience and receive recourse. 

Detangling hundreds of years of oppression, intergenerational trauma and systemic racism is not an easy task. There are no quick fixes here, and I haven’t even touched on all the issues that these communities face - there is the Missing and Murdered Indigenous Women crisis, domestic violence crises, police brutality, discrimination in the justice system, food insecurity, and so much more. I don’t have all the answers here. But I do know that we as Canadians need to decide that this is a priority. All of us - not just those of us with direct ties to these communities - need to decide that it’s fucking unacceptable that we let this happen in our country, and we need to make this an issue that we fight for. Canadian children are dying at their own hands by the hundreds; apathy is not an option. This needs to be an issue that decides elections. This needs to matter. MM