#public finances

[thoughtlessarse]

The widely shared view in the current political climate that immigrants place a disproportionate burden on public coffers is incorrect, according to research by Leiden University of 15 European countries. Everyone puts a burden on public finances, both immigrants and indigenous citizens take more than they contribute. But the negative balance is smaller for immigrants, who rely less heavily on social services and insurance and contribute more through premiums and taxes, the Leiden researchers found. The Netherlands did not form part of the study, but the researchers expect a similar picture. Immigration is a loud topic of debate in many European countries, researcher Olaf van Vliet, a professor of economics at Leiden University, told NRC. “A frequently heard argument in the debate is that immigrants from Central and Eastern Europe place too great a burden on government finances and social security.” His research refutes that completely. “Most immigrants who come to Western European countries do so to work and are between 25 and 45 years old. That makes them a group that, for example, relies less on pension payments, healthcare provisions, or unemployment benefits. Due to the aging population, an increasing share of the indigenous population is relying increasingly heavily on pensions and healthcare.”

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I wonder if Europe will ever get over its racist, white supremacist shit, and realise that migrants are the answer to many problems.

[tmarshconnors]

“Only fools, pure theorists, or apprentices fail to take public opinion into account.”

Jacques Necker was a Genevan banker and statesman who served as finance minister for Louis XVI. He was a reformer, but his innovations sometimes caused great discontent.

Born: 30 September 1732, Geneva, Switzerland

Died: 9 April 1804, Geneva, Switzerland

Swiss Origins: Necker was born in Geneva, Switzerland, in 1732. His Swiss background made him a foreigner in the French political landscape, and this sometimes influenced the perception of his policies.

Self-Financed Publication: Necker was known for his publication titled "Compte Rendu," or "Report on the Finances." This document, which detailed the state of France's finances, was unique in that Necker personally financed its publication. This move aimed to showcase transparency and gain public support.

Resignation through Illness: In 1781, Necker resigned from his position as Finance Minister, citing health reasons. His resignation was accepted, but he continued to influence French politics from behind the scenes. He was later recalled to office in 1788.

Criticized by Revolutionaries: Despite being initially celebrated for his efforts to improve financial transparency, Necker faced criticism from revolutionary figures like Maximilien Robespierre. They accused him of being too sympathetic to the monarchy and not fully supporting the revolutionary cause.

Exile in Switzerland: After the fall of the Bastille in 1789 and the escalation of the French Revolution, Necker resigned once again. Fearing for his safety, he sought refuge in Switzerland. His departure marked the end of his active political career.

[trendynewsnow]

Labour Government's Budget: Challenges Ahead for Keir Starmer

Labour Government’s Budget: A Critical Moment for Keir Starmer Two years ago, a British government unveiled a fiscal strategy that sent shockwaves through financial markets, leading to soaring mortgage rates, a plummeting pound, and the swift downfall of Prime Minister Liz Truss, who resigned after just under two months in office. While a repeat of that financial debacle is not anticipated with…

[notayesmanseconomics]

The Euro area public finances badly need a burst of economic growth

Last week the ECB met for a policy meeting. The reason I have mostly ignored it until now was because after the way that interest-rates were cut in June accompanied by a rise in the inflation forecast July was always going to be a dead meeting. Actually in that sense it was a return to the past as often the main event at this time of year is wishing everybody a good summer holiday. But there is…

[financeprozone]

Massive £3.5K Tax Hike Looms for UK! Shocking IFS Report!

UK households are bracing for a substantial tax hike, with an average increase of £3,500 per year anticipated by the next election, marking the most significant fiscal burden over a parliamentary term in over seven decades, according to the Institute for Fiscal Studies (IFS), the country’s foremost economic think tank.

For more visit: financeprozone.com -

[kimludcom]

Koffi Olomide - Ligablo IGF (Clip Officiel)

[alwaysbewoke]

[pinkacademiaprincess]

life lately: studying for the cpa exam 📕🧠📝💗

some motivational pics for myself b/c i'm deep into studying for the cpa exam and the light at the end of the tunnel for me is passing scores 😅🥹🤞

[mostlysignssomeportents]

At long last, a meaningful step to protect Americans' privacy

This Saturday (19 Aug), I'm appearing at the San Diego Union-Tribune Festival of Books. I'm on a 2:30PM panel called "Return From Retirement," followed by a signing:

https://www.sandiegouniontribune.com/festivalofbooks

Privacy raises some thorny, subtle and complex issues. It also raises some stupid-simple ones. The American surveillance industry's shell-game is founded on the deliberate confusion of the two, so that the most modest and sensible actions are posed as reductive, simplistic and unworkable.

Two pillars of the American surveillance industry are credit reporting bureaux and data brokers. Both are unbelievably sleazy, reckless and dangerous, and neither faces any real accountability, let alone regulation.

Remember Equifax, the company that doxed every adult in America and was given a mere wrist-slap, and now continues to assemble nonconsensual dossiers on every one of us, without any material oversight improvements?

https://memex.craphound.com/2019/07/20/equifax-settles-with-ftc-cfpb-states-and-consumer-class-actions-for-700m/

Equifax's competitors are no better. Experian doxed the nation again, in 2021:

https://pluralistic.net/2021/04/30/dox-the-world/#experian

It's hard to overstate how fucking scummy the credit reporting world is. Equifax invented the business in 1899, when, as the Retail Credit Company, it used private spies to track queers, political dissidents and "race mixers" so that banks and merchants could discriminate against them:

https://jacobin.com/2017/09/equifax-retail-credit-company-discrimination-loans

As awful as credit reporting is, the data broker industry makes it look like a paragon of virtue. If you want to target an ad to "Rural and Barely Making It" consumers, the brokers have you covered:

https://pluralistic.net/2021/04/13/public-interest-pharma/#axciom

More than 650,000 of these categories exist, allowing advertisers to target substance abusers, depressed teens, and people on the brink of bankruptcy:

https://themarkup.org/privacy/2023/06/08/from-heavy-purchasers-of-pregnancy-tests-to-the-depression-prone-we-found-650000-ways-advertisers-label-you

These companies follow you everywhere, including to abortion clinics, and sell the data to just about anyone:

https://pluralistic.net/2022/05/07/safegraph-spies-and-lies/#theres-no-i-in-uterus

There are zillions of these data brokers, operating in an unregulated wild west industry. Many of them have been rolled up into tech giants (Oracle owns more than 80 brokers), while others merely do business with ad-tech giants like Google and Meta, who are some of their best customers.

As bad as these two sectors are, they're even worse in combination – the harms data brokers (sloppy, invasive) inflict on us when they supply credit bureaux (consequential, secretive, intransigent) are far worse than the sum of the harms of each.

And now for some good news. The Consumer Finance Protection Bureau, under the leadership of Rohit Chopra, has declared war on this alliance:

https://www.techdirt.com/2023/08/16/cfpb-looks-to-restrict-the-sleazy-link-between-credit-reporting-agencies-and-data-brokers/

They've proposed new rules limiting the trade between brokers and bureaux, under the Fair Credit Reporting Act, putting strict restrictions on the transfer of information between the two:

https://www.cnn.com/2023/08/15/tech/privacy-rules-data-brokers/index.html

As Karl Bode writes for Techdirt, this is long overdue and meaningful. Remember all the handwringing and chest-thumping about Tiktok stealing Americans' data to the Chinese military? China doesn't need Tiktok to get that data – it can buy it from data-brokers. For peanuts.

The CFPB action is part of a muscular style of governance that is characteristic of the best Biden appointees, who are some of the most principled and competent in living memory. These regulators have scoured the legislation that gives them the power to act on behalf of the American people and discovered an arsenal of action they can take:

https://pluralistic.net/2022/10/18/administrative-competence/#i-know-stuff

Alas, not all the Biden appointees have the will or the skill to pull this trick off. The corporate Dems' darlings are mired in #LearnedHelplessness, convinced that they can't – or shouldn't – use their prodigious powers to step in to curb corporate power:

https://pluralistic.net/2023/01/10/the-courage-to-govern/#whos-in-charge

And it's true that privacy regulation faces stiff headwinds. Surveillance is a public-private partnership from hell. Cops and spies love to raid the surveillance industries' dossiers, treating them as an off-the-books, warrantless source of unconstitutional personal data on their targets:

https://pluralistic.net/2021/02/16/ring-ring-lapd-calling/#ring

These powerful state actors reliably intervene to hamstring attempts at privacy law, defending the massive profits raked in by data brokers and credit bureaux. These profits, meanwhile, can be mobilized as lobbying dollars that work lawmakers and regulators from the private sector side. Caught in the squeeze between powerful government actors (the true "Deep State") and a cartel of filthy rich private spies, lawmakers and regulators are frozen in place.

Or, at least, they were. The CFPB's discovery that it had the power all along to curb commercial surveillance follows on from the FTC's similar realization last summer:

https://pluralistic.net/2022/08/12/regulatory-uncapture/#conscious-uncoupling

I don't want to pretend that all privacy questions can be resolved with simple, bright-line rules. It's not clear who "owns" many classes of private data – does your mother own the fact that she gave birth to you, or do you? What if you disagree about such a disclosure – say, if you want to identify your mother as an abusive parent and she objects?

But there are so many stupid-simple privacy questions. Credit bureaux and data-brokers don't inhabit any kind of grey area. They simply should not exist. Getting rid of them is a project of years, but it starts with hacking away at their sources of profits, stripping them of defenses so we can finally annihilate them.

I'm kickstarting the audiobook for "The Internet Con: How To Seize the Means of Computation," a Big Tech disassembly manual to disenshittify the web and make a new, good internet to succeed the old, good internet. It's a DRM-free book, which means Audible won't carry it, so this crowdfunder is essential. Back now to get the audio, Verso hardcover and ebook:

http://seizethemeansofcomputation.org

If you'd like an essay-formatted version of this post to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

https://pluralistic.net/2023/08/16/the-second-best-time-is-now/#the-point-of-a-system-is-what-it-does

Image: Cryteria (modified) https://commons.wikimedia.org/wiki/File:HAL9000.svg

CC BY 3.0 https://creativecommons.org/licenses/by-sa/3.0/deed.en

[bitchesgetriches]

Your Yearly Free Medical Care Checklist

If you are an American who is lucky enough to have health insurance, you almost certainly have free medical care coming your way.

Several annual and semi-annual services are available to you with no copay—and you have absolutely no reason not to use them. Technically, you have already bought them, as their cost is built into the premiums you’ve already paid. And your body will thank you for it! Even if you feel perfectly healthy, establishing a baseline of health will help your medical professionals detect problems early.

Pro-tip: don’t wait until the end of the year to do all this stuff! Every medical office I’ve ever been to is slammed during November and December as everyone tries to use up their benefits. Schedule it now to avoid the crush.

Here’s what you should be doing every year.

Keep reading.

If you found this helpful, consider joining our Patreon.

[canisalbus]

What do you think would have happened if (somehow, idk how but somehow) Machete rose to the rank of pope?

To be perfectly honest? I think most realistically he would've ruled maybe six months at best and then keeled over from stress and exhaustion.

[cantuscorvi]

Daily Raum wisdom #673: One day you will realize there were never any hoes to scare away in the first place.

[petrow1tch]

BRO NOT STEAM HAVING "GAMES FROM RUSSIA" FESTIVAL AND HAVING 1-9 MAY DATES AS A RUNTIME I'm going insaneeee fuck offfff

[calamitys-child]

I'm being so serious rn if I ever talk about doing another fringe festival run in the next like 3 years at least send me to fucking therapy. It is a cry for help. This is bad for me.

[shinesurge]

i think folks are starting to get worried about the future of the comic since we're getting to the back half of the year, which is extremely kind haha. i've been getting a BUNCH of questions about finances and stuff (and also, unrelated but sort of not, about supporter credits in volume 4) SO while i am always happy to answer emails and things here's a gentle reminder that if you want to keep up with kc i strongly recommend subscribing to the newsletter! i post about my earnings there and do my best to keep y'all informed about p much anything, including exactly where my monthly paycheck is sitting and how panicked i am about it lmfao. it is NOT an Update Reminder; i only send one email per month and any besides that is either time sensitive or me fixing something i fucked up ᕕ( ᐛ )ᕗ

just as a general Update for y'all here, we're Today Right Now sitting at five bucks from being 80% funded. normally i'd wait until next month to bring up numbers (i'd go insane updating the How Fucked Are We Meter every time anything happened) but we had a significant uptick since the last letter so the discrepancy is noticable lol. more on that later! in the newsletter! which you can join If You Want

[roaringroa]

they should make a life where you don't have appointments, work, school and scheduled events every single day for months on end