Taxing Wall Street

As the rich get richer in New York public services are meanwhile bracing themselves for “draconian” cuts. To save New York, tax Wall Street, writes The Guardian’s Sadhbh Walshe.

As the rich get richer in New York public services are meanwhile bracing themselves for "draconian" cuts. To save New York, tax Wall Street, writes The Guardian’s Sadhbh Walshe. "Life in New York is about to get very interesting. Like so many other states, New York is in the red, facing a budget deficit of $9bn dollars in the coming fiscal year. In response to that deficit our political leaders have thrown out the scalpel and are wildly swinging the axe on just about every public service you can imagine, from prenatal care to senior centres. The accepted wisdom is that there is just no money to be had so these cuts have to be. But the truth is that there are billions of dollars out there for the taking, if Governor Paterson or Mayor Bloomberg were willing to raise income tax on the richest of New Yorkers even by a tiny amount. Wall Street has just had a bumper year with the top three banks who benefited from Tarp paying themselves almost $30bn in bonuses, higher even than their previous record in 2007. It seems reasonable to expect that a small portion of this windfall would be paid back in the form of income taxes to help out the people who are suffering now largely as a result of Wall Street's wild behaviour. But for some bizarre reason the inflated salaries of New York's wealthiest people are off limits. Instead the best the mayor and the governor can come up with is a soda tax that disproportionately affects poor people."

Why a federal judge ordered White House to restore Jim Acosta's press badge

A federal judge ruled that the Trump administration likely violated the reporter's Fifth Amendment rights when it stripped his press credentials earlier this month.

WASHINGTON, DC - NOVEMBER 16: CNN chief White House correspondent Jim Acosta (R) returns to the White House with CNN Washington bureau chief Sam Feist after Federal judge Timothy J. Kelly ordered the White House to reinstate his press pass November 16, 2018 in Washington, DC. CNN has filed a lawsuit against the White House after Acosta's press pass was revoked after a dispute involving a news conference last week. (Photo by Alex Wong/Getty Images)
Politics & Current Affairs
  • Acosta will be allowed to return to the White House on Friday.
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  • The case is still open, and the administration may choose to appeal the ruling.
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How to split the USA into two countries: Red and Blue

Progressive America would be half as big, but twice as populated as its conservative twin.

Image: Dicken Schrader
Strange Maps
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  • Perhaps the best way to stop the infighting is to go for a divorce and give the two nations a country each
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Scientists just voted to change the definition of a kilogram

The definition of a kilogram will now be fixed to Planck's constant, a fundamental part of quantum physics.

Greg L via Wikipedia
Surprising Science
  • The new definition of a kilogram is based on a physical constant in quantum physics.
  • Unlike the current definition of a kilogram, this measurement will never change.
  • Scientists also voted to update the definitions of several other measurements in physics.
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