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Barry Ritholtz, founder and CIO of Ritholtz Wealth, joins Scarlet Fu and Tom Keene on "Bloomberg Money." Barry discusses how he observes most wealthy people in America became successful. They also discuss Barry's new book 'How Not To Invest.' (Source: Bloomberg)
"If you don’t understand the history of Black women, you don’t understand the history of America." Those words from Nobel Prize-winning novelist Toni Morrison open Sasha Bonét's debut memoir, "The Waterbearers". The New York writer traces three generations of Black women in her family: her grandmother Betty Jean, the daughter of formerly enslaved people in Louisiana who went on to raise eleven children; her mother Connie, who sought a middle-class life in majority-white Houston; and Sasha herself, now raising her daughter Sofia in New York.
In 2014, the economists Owen Zidar and Eric Zwick were asked by the Treasury to conduct a study on the tax burden of private business owners. It was tricky to figure out how much these sorts of business owners — auto dealers, contractors, the like — actually owed in taxes: After Reagan's 1986 tax reforms, pass-through businesses and other accounting tricks became widespread enough to obscure this class of wealthy Americans hiding in plain sight. The research they conducted led to their new book The Everywhere Millionaire: Who Is Really Rich in America and How They Got There, and one of their central findings is that there are about three million private business owners who have an average wealth of around $25 million. They call this group “Main Street Millionaires” and their influence on the economy and politics in the US is considerable. We speak with Zidar and Zwick about how they measured the actual number of rich people in America. (Source: Bloomberg)
As Washington debates how to regulate AI, industry experts say that governance doesn’t have to mean hitting the brakes.
One contributor may not exceed a fifth of what a campaign raises, or a twentieth of what a party spends. Those caps decide how much diaspora money matters. The post Gachagua Is Raising Money in America. Kenya’s Law Caps What One Donor Can Give appeared first on The Rio Times.