Latest from James Graham

• Mar 30, 2023

  Why return-free tax filing isn’t — but probably should be — a thing in the U.S.

  

  Tax season is upon us, and that means an age-old debate is resurfacing amongst accounting nerds far and wide — why do Americans still have to file tax returns? Another simpler, and arguably better, system called return-free filing is used across the world. Chris Farrell walks us through the potential benefits of adopting such a system in the U.S. Plus, why plateauing mortgage rates are leading to more applications from would-be homebuyers. And, a look at some of the rule changes coming to Major League Baseball as teams start playing regular season games today.  

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• Mar 30, 2023

  How U.S. green subsidies are forcing other nations to act

  

  From the BBC World Service: When President Biden unveiled the Inflation Reduction Act last summer, the subsidies on offer turned heads around the world. Today the UK is unveiling its plans for a net-zero economy, and the European Union already has its Net Zero Industry Act. But do the policies cut the mustard with business? Plus, The Guardian newspaper has faced up to the slavery links of its founder. It now plans to invest around $12 million over the next decade in a program of restorative justice.

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• Mar 7, 2023

  Companies are laying off and unemployment claims are…falling?

  

  The labor market in today’s economy, at first glance, seemingly defies logical explanation — the number of people seeking unemployment benefits has fallen as companies lay off lots of staff. We look into why the data looks how it does. A bipartisan bill in Congress is looking to lay the groundwork to ban TikTok in the U.S. The rules governing the classification of Community Development Financial Institutions are about to go under a revamp by the Treasury Department. And, the BBC reports on South Africa’s new electricity minister, whose appointment comes as the country’s main utility provider Eskom undergoes a severe crisis. 

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• Mar 7, 2023

  AI could open a legal can of worms for tech

  

  Generative AI programs like Microsoft’s ChatGPT have taken the world by storm this year. We talked to Marketplace Tech host Meghan McCarty Carino about the nature of these platforms and how that has opened up a debate over who’s legally liable for the content AI systems produce. There’s a bipartisan push in Congress to restrict TikTok in the United States that goes further than the current ban prohibiting the app on government devices. And, a look at the findings in the first report from the U.S. Department of Agriculture’s Equity Commission.

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• Mar 7, 2023

  China rebukes US over ‘containment’

  

  From the BBC World Service: China’s leader Xi Jinping has rebuked the US, blaming it for trying to “contain, “encircle” and “suppress” his country. Richard McGregor, a Senior Fellow for East Asia at the Lowy Institute in Sydney speaks to us about the latest developments. Plus, France endures its biggest day of strikes over the retirement age, and we hear about the laws the British government is trying to pass to stem the flow of migrants crossing the English channel.

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• Mar 6, 2023

  A big week ahead for macroeconomic wonks

  

  It’s set to be a big week for watchers of the larger U.S. economy — Fed Chair Jerome Powell will testify to Congress on Tuesday and Wednesday, while the February jobs report comes out Friday. We spoke with economist Julia Coronado about what we should expect in the week ahead. Vehicles, a good that enjoyed high demand and high prices during the peak of the pandemic, are now in lower demand partly because of elevated interest rates and inflation-weary consumers. And, a look at why some big cities in France are banning electronic billboards. 

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• Mar 6, 2023

  The rise of the “outdoorsy” real estate craze

  

  Resort towns across the Western U.S. are seeing record-breaking prices for housing amid a wave of buying by ultra-rich people. The trend is fueling a housing crisis for local workers, who often find themselves being priced out of housing. New legislation in the Senate is looking to restrict senior members of the executive branch from trading stocks. And, retailers are saying that inflation-wary consumers are prioritizing value over luxury…and stores are shifting gears to accommodate. 

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• Mar 6, 2023

  China increases defense spending, citing “escalating” threats

  

  From the BBC World Service: BBC’s China Correspondent Stephen McDonnell reports from Beijing as China says it will increase military spending by more than 7% this year, while warning of “escalating” threats. South Korea tries to build bridges with Japan by picking up the cost of World War II reparations, plus, it’s one month to the day since the earthquakes devastated parts of Turkey and Syria, we hear from the BBC’s Correspondent Anna Foster on the ground.

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• Mar 3, 2023

  For Biden, industrial policy is now in vogue

  

  Earlier this week, the Biden administration announced that companies could begin applying for funding under the CHIPS and Science Act, but only if they met certain conditions including limiting stock buybacks, providing childcare to workers, and others. According to Felicia Wong, CEO of the liberal-leaning Roosevelt Institute think tank, this could herald a new embrace of industrial policy by Biden to push forward his agenda. And, a look into a new report that details the growing extent of the racial disparity in home ownership in America. 

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• Mar 3, 2023

  Republican-led states push against “woke” investing

  

  Legislatures in various Republican-controlled states have passed or are mulling restricting banks from ESG investing, which considers environmental, social, and governance factors. We look at what’s behind the backlash to ESG and why some are assailing it as “woke investing.” The Biden Administration released its new Cybersecurity Strategy yesterday, which includes a call to companies to play a greater role in securing their own products. And, excerpts from Marketplace host Kai Ryssdal’s interview with Treasury Secretary Janet Yellen, where they discussed the economics of the war in Ukraine. 

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