Author: Georgia McKoy

A TikTok video by Chailyn (@chailynt) has gone viral, drawing attention to the financial struggles of Generation Z. In the video, Chailyn counters the notion that Gen Z workers are lazy, arguing instead that they face significant challenges in earning a sufficient income to support themselves. Study Shows Gen Z Struggling More Than Previous Generations Source: Ron Lach/Pexels Research conducted by Gallup and the Walton Family Foundation in September 2023 reveals a concerning trend: Fewer than half of Gen Z Americans believe they are living their best lives. This finding is attributed to the generation’s anxiety about their financial future,…

Jack Fisher, a 71-year-old real estate developer known for promoting green tax breaks, was sentenced to 25 years in prison for his role in a massive fraud scheme. His crime involved selling $1.4 billion in fraudulent charitable deductions to wealthy investors, consequently cheating the IRS out of $458 million in taxes.  Exploiting Environmental Tax Breaks Source: Zane Lee/Unsplash Fisher’s strategy was deceptive yet simple. According to prosecutors, he lured syndicates of investors with the promise of inflated tax deductions for agreeing not to develop land.  This scheme relied on exaggerated property appraisals and backdated documents to mislead the Internal Revenue…

Driven by factors such as cost of living, housing affordability and taxes, one state is increasingly becoming more attractive to Americans looking to relocate. In 2023, Texas emerged as a primary destination for many, as indicated by the U-Haul Growth Index. This index measures state and city attractiveness based on one-way movers, and Texas accounted for over half of this traffic at 50.4%. The California Exodus Source: Natalie Chaney/Unsplash Contrasting Texas’ rise, California has experienced a notable decline in its resident retention. For four consecutive years, it has recorded the largest loss of one-way movers, according to the U-Haul Growth…

China has decided to suspend a currency swap deal with Argentina worth $6.5 billion. This development occurred just ten days after Javier Milei took office as the President of Argentina. Milei, who ran a campaign critical of China, had proposed cutting ties with the nation. Immediate Action Post-Election Source: Getty Images China’s decision to suspend the deal came swiftly after Milei’s election. The South China Morning Post reported, quoting local Argentine media: “China has suspended a $6.5 billion currency swap deal.” The report suggests that China’s action is contingent upon President Milei’s expression of a willingness to cooperate with China.…

A report has highlighted California’s deteriorating road conditions, now receiving a “D” rating on the infrastructure report card. This decline is set to worsen as electric vehicle (EV) sales increase, causing a substantial drop in gas tax revenue, which is essential for road maintenance and repair. Declining Transportation Revenues Due to EV Shift Source: Kindel Media/Pexels The report from the Legislative Analyst’s Office reveals that the state’s transition to electric vehicles is projected to cause a $4.4 billion decline in transportation revenues over the next decade. This 31% reduction from current levels is attributed to a decrease in gasoline excise…

The Internal Revenue Service (IRS) has successfully collected more than $500 million in back taxes from delinquent millionaires. This comes as the IRS intensifies its enforcement efforts toward tax compliance among high-earning individuals and businesses. Breakdown of Recovered Taxes Source: Tima Miroshnichenko/Pexels The IRS’ recent enforcement activities have yielded substantial results. Officials reported collecting an additional $360 million from millionaire households with tax debts exceeding $250,000. MarketWatch reports that this follows an earlier announcement in October, where the IRS disclosed having reclaimed $160 million from wealthy households. Cumulatively, these efforts have brought in a total of $520 million, demonstrating a…

A report by the European climate agency has declared 2023 as the hottest year on record. With an alarming 1.48 degrees Celsius increase above preindustrial levels, the year approached the critical 1.5-degree threshold outlined in the Paris Climate Accord. Samantha Burgess, Copernicus Deputy Director, warned, “January 2024 is on track to be so warm that a 12-month period will exceed the 1.5-degree threshold for the first time.” The Implications of the 1.5-Degree Threshold Source: Matt Palmer/Unsplash The 1.5-degree target is pivotal in mitigating climate risks. Burgess explains the gravity of this situation, stating, “The 1.5-degree goal has to be (kept)…

Shelitha Robertson, a former assistant city attorney and police officer in Atlanta, has been charged in a scheme involving fraudulent Paycheck Protection Program (PPP) loans amounting to over $7 million. This case highlights a serious breach of trust by a public servant, unfolding amidst the challenges of the pandemic. According to the Department Of Justice, Robertson’s actions represent a significant violation of the law and public trust. The Fraudulent Scheme Source: Scott Graham/Unsplash The scheme involved Robertson, a 62-year-old Atlanta resident, submitting fraudulent PPP loan applications for four businesses she owned. The applications contained false information, including inflated numbers of…

Shelitha Robertson, a former assistant city attorney and police officer in Atlanta, has been charged in a scheme involving fraudulent Paycheck Protection Program (PPP) loans amounting to over $7 million. This case highlights a serious breach of trust by a public servant, unfolding amidst the challenges of the pandemic. According to the Department Of Justice, Robertson’s actions represent a significant violation of the law and public trust. The Fraudulent Scheme Source: Scott Graham/Unsplash The scheme involved Robertson, a 62-year-old Atlanta resident, submitting fraudulent PPP loan applications for four businesses she owned. The applications contained false information, including inflated numbers of…

In Atlanta, Georgia, JenChan’s, a family-run restaurant, is gaining attention for a unique policy. Opened just six months before the pandemic, this establishment is now in the spotlight for adding a health insurance fee to customer bills. The aim of this charge is to assist the full-time staff of the restaurant with their health insurance needs. The Health Insurance Fee Explained Source: Sasun Bughdaryan/Unsplash The Daily Mail reports that when dining at JenChan’s, customers will find a 4% health insurance charge on their bills. This initiative, as explained by the restaurant, was introduced after the health insurance premiums for their…