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Javier E

Opinion | Ta-Nehisi Coates: The Cancellation of Colin Kaepernick - The New York Times - 0 views

  • cancel culture is not new. A brief accounting of the illustrious and venerable ranks of blocked and dragged Americans encompasses Sarah Good, Elijah Lovejoy, Ida B. Wells, Dalton Trumbo, Paul Robeson and the Dixie Chicks.
  • What was the Compromise of 1877, which ended Reconstruction, but the cancellation of the black South?
  • any sober assessment of this history must conclude that the present objections to cancel culture are not so much concerned with the weapon, as the kind of people who now seek to wield it
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  • Until recently, cancellation flowed exclusively downward, from the powerful to the powerless
  • in this era of fallen gatekeepers, where anyone with a Twitter handle or Facebook account can be a publisher, banishment has been ostensibly democratized
  • the N.F.L. has a different power at its fingertips: the power of monopoly
  • if we are to construct such a world, we would do well to leave the slight acts of cancellation effected in the quad and cafe, and proceed to more illustrious offices.
  • The N.F.L. is revered in this country as a paragon of patriotism and chivalry, a sacred trust controlled by some of the wealthiest men and women in America. For the past three years, this sacred trust has executed, with brutal efficiency, the cancellation of Colin Kaepernick.
  • It would be nice to live in a more forgiving world, one where dissenting from groupthink does not invite exile and people’s occasional lapses are not held up as evidence of who they are
  • Mr. Kaepernick’s cancellation bars him from making a living at a skill he has been honing since childhood.
  • the wrongdoing of elite institutions was once hidden from public view, in the era of Donald Trump it is all there to be seen.
  • A sobering process that began with the broadcast beatings of civil rights marchers at Edmund Pettus Bridge in Selma in 1965, then accelerated with the recorded police brutality against Rodney King, has achieved its zenith with the social media sharing of the executions of Walter Scott, Laquan McDonald and Daniel Shaver.
  • The new cancel culture is the product of a generation born into a world without obscuring myth, where the great abuses, once only hinted at, suspected or uttered on street corners, are now tweeted out in full color
  • Nothing is sacred anymore, and, more important, nothing is legitimate — least of all those institutions charged with dispensing justice. And so, justice is seized by the crowd.
  • Mr. Kaepernick is not fighting for a job. He is fighting against cancellation. And his struggle is not merely his own — it is the struggle of Major Taylor, Jack Johnson, Craig Hodges and Muhammad Ali
  • This isn’t a fight for employment at any cost. It is a fight for a world where we are not shot, or shunned, because the masters of capital, or their agents, do not like our comportment, our attire or what we have to say.
Javier E

The Secretive Company That Might End Privacy as We Know It - The New York Times - 0 views

  • Tech companies capable of releasing such a tool have refrained from doing so; in 2011, Google’s chairman at the time said it was the one technology the company had held back because it could be used “in a very bad way.” Some large cities, including San Francisco, have barred police from using facial recognition technology.
  • without public scrutiny, more than 600 law enforcement agencies have started using Clearview in the past year
  • The computer code underlying its app, analyzed by The New York Times, includes programming language to pair it with augmented-reality glasses; users would potentially be able to identify every person they saw. The tool could identify activists at a protest or an attractive stranger on the subway, revealing not just their names but where they lived, what they did and whom they knew.
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  • it’s not just law enforcement: Clearview has also licensed the app to at least a handful of companies for security purposes.
  • “The weaponization possibilities of this are endless,” said Eric Goldman, co-director of the High Tech Law Institute at Santa Clara University. “Imagine a rogue law enforcement officer who wants to stalk potential romantic partners, or a foreign government using this to dig up secrets about people to blackmail them or throw them in jail.”
  • While the company was dodging me, it was also monitoring me. At my request, a number of police officers had run my photo through the Clearview app. They soon received phone calls from company representatives asking if they were talking to the media — a sign that Clearview has the ability and, in this case, the appetite to monitor whom law enforcement is searching for.
  • The company eventually started answering my questions, saying that its earlier silence was typical of an early-stage start-up in stealth mode. Mr. Ton-That acknowledged designing a prototype for use with augmented-reality glasses but said the company had no plans to release it.
  • In addition to Mr. Ton-That, Clearview was founded by Richard Schwartz — who was an aide to Rudolph W. Giuliani when he was mayor of New York — and backed financially by Peter Thiel, a venture capitalist behind Facebook and Palantir.
  • “I’ve come to the conclusion that because information constantly increases, there’s never going to be privacy,” Mr. Scalzo said. “Laws have to determine what’s legal, but you can’t ban technology. Sure, that might lead to a dystopian future or something, but you can’t ban it.”
  • “In 2017, Peter gave a talented young founder $200,000, which two years later converted to equity in Clearview AI,” said Jeremiah Hall, Mr. Thiel’s spokesman. “That was Peter’s only contribution; he is not involved in the company.”
  • He began in 2016 by recruiting a couple of engineers. One helped design a program that can automatically collect images of people’s faces from across the internet, such as employment sites, news sites, educational sites, and social networks including Facebook, YouTube, Twitter, Instagram and even Venmo
  • Representatives of those companies said their policies prohibit such scraping, and Twitter said it explicitly banned use of its data for facial recognition
  • Another engineer was hired to perfect a facial recognition algorithm that was derived from academic papers. The result: a system that uses what Mr. Ton-That described as a “state-of-the-art neural net” to convert all the images into mathematical formulas, or vectors, based on facial geometry — like how far apart a person’s eyes are
  • Clearview created a vast directory that clustered all the photos with similar vectors into “neighborhoods.”
  • When a user uploads a photo of a face into Clearview’s system, it converts the face into a vector and then shows all the scraped photos stored in that vector’s neighborhood — along with the links to the sites from which those images came.
  • Mr. Schwartz paid for server costs and basic expenses, but the operation was bare bones; everyone worked from home. “I was living on credit card debt,” Mr. Ton-That said. “Plus, I was a Bitcoin believer, so I had some of those.”
  • The company soon changed its name to Clearview AI and began marketing to law enforcement. That was when the company got its first round of funding from outside investors: Mr. Thiel and Kirenaga Partners
  • Mr. Schwartz and Mr. Ton-That met in 2016 at a book event at the Manhattan Institute, a conservative think tank. Mr. Schwartz, now 61, had amassed an impressive Rolodex working for Mr. Giuliani in the 1990s and serving as the editorial page editor of The New York Daily News in the early 2000s. The two soon decided to go into the facial recognition business together: Mr. Ton-That would build the app, and Mr. Schwartz would use his contacts to drum up commercial interest.
  • They immediately got a match: The man appeared in a video that someone had posted on social media, and his name was included in a caption on the video. “He did not have a driver’s license and hadn’t been arrested as an adult, so he wasn’t in government databases,”
  • The man was arrested and charged; Mr. Cohen said he probably wouldn’t have been identified without the ability to search social media for his face. The Indiana State Police became Clearview’s first paying customer, according to the company
  • Clearview deployed current and former Republican officials to approach police forces, offering free trials and annual licenses for as little as $2,000. Mr. Schwartz tapped his political connections to help make government officials aware of the tool
  • The company’s most effective sales technique was offering 30-day free trials to officers, who then encouraged their acquisition departments to sign up and praised the tool to officers from other police departments at conferences and online, according to the company and documents provided by police departments in response to public-record requests. Mr. Ton-That finally had his viral hit.
  • Photos “could be covertly taken with telephoto lens and input into the software, without ‘burning’ the surveillance operation,” the detective wrote in the email, provided to The Times by two researchers,
  • Sergeant Ferrara found Clearview’s app superior, he said. Its nationwide database of images is much larger, and unlike FACES, Clearview’s algorithm doesn’t require photos of people looking straight at the camera.
  • “With Clearview, you can use photos that aren’t perfect,” Sergeant Ferrara said. “A person can be wearing a hat or glasses, or it can be a profile shot or partial view of their face.”
  • Mr. Ton-That said the tool does not always work. Most of the photos in Clearview’s database are taken at eye level. Much of the material that the police upload is from surveillance cameras mounted on ceilings or high on walls.
  • Despite that, the company said, its tool finds matches up to 75 percent of the time. But it is unclear how often the tool delivers false matches, because it has not been tested by an independent party
  • One reason that Clearview is catching on is that its service is unique. That’s because Facebook and other social media sites prohibit people from scraping users’ images — Clearview is violating the sites’ terms of service.
  • Some law enforcement officials said they didn’t realize the photos they uploaded were being sent to and stored on Clearview’s servers. Clearview tries to pre-empt concerns with an F.A.Q. document given to would-be clients that says its customer-support employees won’t look at the photos that the police upload.
  • Mr. Clement, now a partner at Kirkland & Ellis, wrote that the authorities don’t have to tell defendants that they were identified via Clearview, as long as it isn’t the sole basis for getting a warrant to arrest them.
  • Because the police upload photos of people they’re trying to identify, Clearview possesses a growing database of individuals who have attracted attention from law enforcement. The company also has the ability to manipulate the results that the police see.
  • After the company realized I was asking officers to run my photo through the app, my face was flagged by Clearview’s systems and for a while showed no matches. When asked about this, Mr. Ton-That laughed and called it a “software bug.”
  • “It’s creepy what they’re doing, but there will be many more of these companies. There is no monopoly on math,” said Al Gidari, a privacy professor at Stanford Law School. “Absent a very strong federal privacy law, we’re all screwed.”
  • But if your profile has already been scraped, it is too late. The company keeps all the images it has scraped even if they are later deleted or taken down, though Mr. Ton-That said the company was working on a tool that would let people request that images be removed if they had been taken down from the website of origin
  • Woodrow Hartzog, a professor of law and computer science at Northeastern University in Boston, sees Clearview as the latest proof that facial recognition should be banned in the United States.
  • We’ve relied on industry efforts to self-police and not embrace such a risky technology, but now those dams are breaking because there is so much money on the table,”
  • “I don’t see a future where we harness the benefits of face recognition technology without the crippling abuse of the surveillance that comes with it. The only way to stop it is to ban it.”
  • Mr. Ton-That said he was reluctant. “There’s always going to be a community of bad people who will misuse it,” he said.
  • Even if Clearview doesn’t make its app publicly available, a copycat company might, now that the taboo is broken. Searching someone by face could become as easy as Googling a name
  • Someone walking down the street would be immediately identifiable — and his or her home address would be only a few clicks away. It would herald the end of public anonymity.
rerobinson03

HISTORY OF CAPITALISM - 0 views

  • The underlying theme of capitalism is the use of wealth to create more wealth.
  • With the rapid development of European trade and prosperity in the 13th century, cities in Italy and the Netherlands witness a creation of wealth which is capitalist in kind - because any merchant is in essence a capitalist, risking his pot of money each time he buys in one place to sell in another
  • Florence in the 14th century demonstrates more familiar indications of capitalism. It has its great banking families, engaging in transactions across the breadth of Europe.
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  • The essential characteristics of capitalism only become evident with an increase in scale - in two quite separate contexts. One is the formation of joint-stock companies, in which investors pool their resources for a major commercial undertaking. The other, not evident until the Industrial Revolution, is the development of factories in which large numbers of workers are employed in a single private enterprise.  
  • Speculative trading enterprises in the Middle Ages are undertaken by individual merchants, operating in family groups or partnerships but acting essentially on their own behalf.
  • In the 16th century, with the expanding energies of the Atlantic kingdoms in a new era of ocean voyages, the situation changes. In long expeditions to distant and dangerous places, both the risk and the potential profit are greatly increased. A new system is called for.
  • A charter, granted by the crown, gives the merchants in a company the monopoly on trade with a specific region for a given number of years - together with strong legal powers to enforce order in distant places while carrying out its business.  
  • The first joint-stock enterprise established in Britain is the Muscovy Company, which receives its royal charter in 1555.
  • Even the Bank of England, when founded in 1694, is organized at first on joint-stock lines. The merchants whose funds provide the bank's initial loan to the government acquire thereby a share in the stock of the new company.
  • The most immediate way in which the Reformation aids the capitalist is by removing the stigma which the Catholic church has traditionally attached to money-lending - or usury, in the pejorative Biblical term.
  • Speculation is an intrinsic part of capitalism, since the capitalist must risk money in the hope of making more
  • The first coffee house in London opens in 1652. Soon much of England's business is being conducted in these congenial establishments where merchants can gather to strike their bargains over a cup of the newly fashionable liquid.
  • Shares in such companies can be bought and sold at Jonathan's coffee house. The brokers who arrange the deals here call themselves (from 1773) the Stock Exchange.
Javier E

Opinion | Bernie Sanders Has Already Won the Democratic Primary - The New York Times - 0 views

  • “Look, we all have big progressive plans,” Biden said, as if to reassure Democratic voters. Michael Bennet touted bipartisan immigration legislation that he helped to write as “the most progressive DREAM Act” ever put together.
  • He won it when his rivals talked more about whether Medicare for All could ever get through Congress than about whether such a huge expansion of the federal government was a good idea in the first place.
  • He won it when they competed to throw many more trillions than the next candidate at climate change. He won it when the disagreement became not about free tuition at public colleges but about the eligibility of students from families above a certain income level.
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  • He and his supporters shouldn’t feel defeated after Super Tuesday. They should take a bow.
  • In the context of previous presidential elections, Biden isn’t so very moderate. Nor are Klobuchar, Pete Buttigieg or other Democratic aspirants lumped in that category. They have carved out positions to the left of the party’s nominees over the past two decades, including the most recent three: Hillary Clinton, Barack Obama and John Kerry.
  • And you know who gets the most credit for that? Sanders.
  • While Sanders’s fellow candidates didn’t parrot his vocabulary and denounce “oligarchs” and “oligarchy,” they spoke expansively about gross income inequality and the need to tackle it. That largely reflected how wealth had been concentrated over recent decades. But it owed something, too, to Sanders’s right and righteous demand that America have this conversation.
  • Biden’s proposed tax increases of about $3.4 trillion over a decade are more than double what Clinton was advocating in 2016, while Buttigieg’s were more than quadruple. How is that moderate?
  • Although there is scant evidence in recent elections that a Democrat running on Sanders’s platform can win anywhere but in decidedly blue districts and states, that platform colored the Democratic primary in a bold and indelible way. Candidates disrespected it at their peril.
  • Klobuchar asserted herself — and was frequently characterized as — a sort of common-sense centrist. But her actual positions and proposals told a different story. As my fellow Times Op-Ed columnist David Leonhardt recently wrote: “She wants to raise taxes on the rich, break up monopolies, vastly expand Medicare, fight climate change, admit more refugees, allow undocumented immigrants to become citizens, ban assault weapons and require universal background checks. A Klobuchar administration would probably be well to the left of the Obama administration.” It would be closer to Sanders territory.
  • “All the lead contenders are running on the most progressive agendas to ever dominate a Democratic primary,” wrote Vox’s Ezra Klein and Roge Karma late last year. They noted that this primary’s moderates would have been considered leftists in the recent past. “As a result,” they added, “if Biden or Buttigieg actually win the nomination, they will be running on the most progressive platform of any Democratic nominee in history.”
  • Biden was designated a moderate despite declaring that the Equality Act, which would offer sweeping federal protection against discrimination for L.G.B.T.Q. people, didn’t merely have his support; it would be his top legislative priority. He was designated a moderate despite being among the 10 candidates at a Democratic debate early on who all raised their hands when asked if they supported extending health care benefits to undocumented immigrants.
  • Sanders’s grilling was a long time coming. The wonder of most of the debates was how carefully his competitors tiptoed around him, acutely conscious of the moral force that he had come to wield in the party and the passion of his supporters, whom they didn’t want to alienate. He became the enemy that no Democrat wanted to have.
  • Biden’s backing extends well beyond corporations. His proposals demonstrate concern for those working families. And his goals echo Sanders’s goals, for one reason above all others. Sanders already won.
Javier E

America's $2 Trillion Rescue Leaves Black Neighborhood Behind - Bloomberg - 0 views

  • What Pastor Scott worries about most, though, is that this pandemic is going to take away the church she and her husband, Robert, have spent more than a decade building between their shifts as corrections officers.
  • A tiny church serving a vulnerable corner of American society is having a life-or-death moment that will never show up in the data. And it’s doing so with little help at a time when the government and economists are hailing all that’s being poured into the economy and calling for more.
  • Concerns about deficits, debt, and inflation have been set aside. The consensus these days has rallied around a whatever-it-takes approach that, though focused on businesses and markets, has included social programs setting new benchmarks for economic impact.
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  • At a time when the U.S. is engaged in another conversation about its foundational racial inequities, the rescue is amplifying those imbalances in places like Cleveland, where half the population is Black, and fueling the anger of a new generation in communities too used to being left out.
  • “I’m not going to play my people for a fool,” says Stephen Rowan, pastor of Bethany Baptist Church, pointing to what he sees as a pattern where wealthy institutions such as the nearby Cleveland Clinic receive $200 million in Cares Act help and increasingly frustrated members of his congregation miss out. “There comes a point in time when I cannot justify or say to them that ‘God will make a way’ despite what they are seeing right in front of their face.”
  • The virus has also reinforced the city’s long-standing gaping economic disparities between largely Black neighborhoods east of the Cuyahoga River and predominantly White ones to its west. At $21,769, the median income of Black households in the city in 2018 was about half the $40,485 of White ones. The legacies of decades of redlining and other discriminatory lending policies are plain to see. Roughly one-third of Black households own their homes; three-quarters of White ones do.
  • In the 44102 zip code between Cleveland’s downtown and the affluent suburb of Lakewood, where 47% of the population is White, small businesses received 343 loans of less than $150,000 each, for a total $11.9 million, or $260 per person. In the 44104 zip code, home to Scott’s church and a population that’s 96% Black, small businesses received just 83 loans of less than $150,000 each, for a total $2.8 million, the equivalent of $140 for each resident.
  • For those who live on the East Side, it’s a repeat of an economic pattern that last manifested itself in the foreclosures that accompanied the financial crisis more than a decade ago, but one with 400-year-old roots in slavery.
  • Loaded up is a video in which author Kimberly Jones (no relation) likens the economic travails of Black Americans to a centuries-old Monopoly game in which White players get a pile of cash to start and Black ones get nothing. Worse, whenever Black players build up a little wealth, the White players take it away. The protests that hit cities including Cleveland after George Floyd’s death, the video argues, are the equivalent of Black Americans upending the board in anger. “See,” the barber says. “It’s all about economics.”
  • The issue of criminal records has had other repercussions. The Small Business Administration, which administers the loan program, initially barred anyone with a criminal conviction within the past five years. The rule was changed after Ohio Senator Rob Portman, a Republican, intervened on behalf of a constituent with a conviction who ran a small business that hired other workers with criminal pasts.The criminal record exclusion was emblematic of the ways in which the Cares Act, assembled hastily over 10 days of bipartisan negotiations, inadvertently discriminated against the Black community, Portman says. “We just didn’t think through all this stuff, because it’s hard to.”
Javier E

Why Uber's business model is doomed | Employment | The Guardian - 0 views

  • The truth is that Uber and Lyft exist largely as the embodiments of Wall Street-funded bets on automation, which have failed to come to fruition. These companies are trying to survive legal challenges to their illegal hiring practices, while waiting for driverless-car technologies to improve. The advent of the autonomous car would allow Uber and Lyft to fire their drivers.
  • Having already acquired a position of dominance with the rideshare market, these companies would then reap major monopoly profits. There is simply no world in which paying drivers a living wage would become part of Uber and Lyft’s long-term business plans.
  • Only in a world where more profitable opportunities for investment are sorely lacking can such wild bets on far-flung futuristic technologies become massive multinational companies. Corporations and wealthy individuals have accumulated huge sums of money and cannot figure out where to put it because returns on investments are extremely low
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  • The flip side of falling rates of business investment is a slackening pace of economic growth, which economists have termed “secular stagnation.” It’s this decades-long slowdown that has generated the insecure labour force on which Uber and Lyft rely.
  • This fight for workers’ rights is grounded in a growing recognition that the expansion of the digital economy does not simply reflect the triumph of an unstoppable technological change. Behind Silicon Valley rhetoric, much of what appears to be technological innovation turns out to be a means of circumventing legal regulations, including minimum wage laws
  • That governments turned a blind eye to Uber and Lyft’s misbehaviour for so long is no surprise. Governments are complicit in making workers more vulnerable. Facing persistently slow economic growth and high rates of unemployment, governments have spent decades trying to coax companies to invest by making it easier to deny workers’ benefits and to avoid paying taxes.
  • Capitalist economies have been able to extend security to widening circles of workers only in periods of rapid economic growth, when low rates of unemployment made it possible for more and more workers to demand better wages and working conditions.
  • High rates of economic growth in the mid-20th century – the reference point for any politics that seeks to restore economic growth in the present – were premised on a historically exceptional period. The restoration of stable international trade following two world wars made possible the largest growth of economic productive capacity in human history, not just in Europe and the United States, but worldwide
  • By the 1970s, rapid expansion had given way to worsening global overcapacity, resulting in rising competition and falling rates of investment in internationally traded goods. People were left scrambling for work in the growing service sector, where the potential for labour productivity growth, and hence economic growth, is significantly lower.
  • By misclassifying its workers, Uber avoided paying hundreds of millions of dollars into US state unemployment insurance schemes. Yet during the Covid-19 economic crisis, Uber lobbied the federal government to step in and pay its drivers’ unemployment benefits anyway.
  • this bid to restore conditions of rapid economic growth, much like supply-side and trickle-down solutions that failed to produce generalised prosperity, was a failure. The Covid crisis has only made economic prospects less auspicious.
  • People need security that is not tied to their job. The pandemic has revealed this imperative more than ever before. In a world that is as wealthy as ours, and given the technologies we have already produced – even without the realisation of the dreams of automation – everyone should have access to food, energy, housing and healthcare
  • The owners of Uber and Lyft know that their business is predicated on a world in which they get to make the key decisions that shape our futures, without our input. The world of work is going to have to be democratised. They are just delaying what should be inevitable.
Javier E

The Anti-Trump Movement Will Outlast Trump - POLITICO - 0 views

  • Among the most important long-term questions in American politics, a bit less obviously, is the extent to which the anti-Trump coalition, which includes many conservatives joining people they once vigorously opposed, might continue redrawing ideological lines even after Trump is gone
  • It is primarily revulsion toward Trump personally — his vulgarity, his mendacity, the heedlessness and even nihilism of his approach to governance — rather than ideology that has led such prominent conservative voices as Will, Peggy Noonan, William Kristol and Bret Stephens to declare Trump a public menace and either endorse Joe Biden or express affinity for his cause.
  • A combination of pandemic-driven fear for the future, rage over racial inequality or backlash to racial unrest and Trump’s scab-picking style of politics has amplified radical voices across the spectrum. In such an environment, there are a host of issues on which traditional liberals and traditional conservatives generally are more in sympathy with each other than they are with the most inflamed precincts of left or right.
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  • many of the questions on which liberals and conservatives share common assumptions have an intimate edge. That is, they touch on core values — how people perceive themselves and their place in the world — more than they do programmatic details of policy. Historically, values debates have the most staying power in American politics
  • What is the morality of cancel culture?
  • Justice Louis Brandeis gave his famous answer about the right response to false or wrongheaded political speech: “The remedy to be applied is more speech, not enforced silence.”
  • Traditional liberals and conservatives are in agreement on the enduring wisdom of that philosophy
  • Activists to their left and right, by contrast, disagree in detail but agree that in newsrooms, on campuses, on social media, or even during the national anthem at sports stadiums, there is a widening sphere of speech and politically infused gestures that are so offensive they should be suppressed, shamed and punished.
  • The left agrees with The New York Times’ celebrated 1619 Project, which stated, “Our democracy’s ideas were false when they were written.”
  • Both sides are eager to see institutions sharply challenged, with root-and-branch overhauls — admissions policies transformed, executives taxed or even jailed, monopolies demolished, and so on.
  • Liberals and conservatives, on the other hand, tend to fret over institutions. They have lots of ideas for how to make them more responsive to their times or improve their reputation. But these are typically incremental in nature and flow from the assumption that a healthy society is animated by respect for institutions, and one animated by contempt is in deep trouble.
  • The most influential liberals and most influential conservatives in establishment politics typically have reaped those rewards. These winners may wish to expand the number and diversity of people joining in success. But these people typically don’t regard their own success as unmerited, or deserving of confiscatory taxation, or the result of illegitimate structural advantages that should be demolished
  • Many on the left, in contrast to traditional liberals, do believe that large fortunes are by definition wrong as a matter of public policy.
  • The argument that expanding the circle of success to include outstanding African Americans — exemplified by Barack Obama’s presidency — had done little to dilute systemic racism as experienced in everyday life for millions of people was gaining power before Trump’s presidency. In 2020 that argument is at the center of national conversation in ways that almost certainly will remain there after Trump leaves office.
  • Traditional liberals and conservatives often believe that a color-blind society may never be perfectly attained, but it remains the ideal—and one that the country for all its problems is moving ever closer to achieving
  • The pro-Trump right and the anti-Trump left are filled with activists who believe institutions have earned their contempt by being fundamentally not on the level — filled with self-dealing elitists
  • How linked are merit and success?
  • How broken are American institutions?
tsainten

Opinion | Kara Swisher Talks Big Tech Monopolies and the Google Antitrust Case with Lin... - 0 views

  • Lawmakers are interrogating tech C.E.O.s on Capitol Hill while the Justice Department pursues a landmark antitrust case against Google. For decades, tech giants have avoided such scrutiny — hiding behind the idea that their products are free, beneficial, even beloved.
  • Ms. Khan served as counsel to the House Judiciary antitrust subcommittee in this summer’s investigation, helping expose how Silicon Valley’s most revered companies use data and power to undercut, threaten and swallow up their competition.
  • Big Tech’s practices have had a “chilling effect” on the American economy, and that it’s time to drag the nation’s antitrust thinking out of the “ice age.”
katherineharron

A record number of women will serve in the next Congress - CNNPolitics - 0 views

  • Mace defeated Democratic Rep. Joe Cunningham, becoming one of a record number of women who will serve in the 117th Congress — and a record number of Republican women who will serve in the House.
  • With races still to be called, at least 141 women will serve in Congress next year, breaking the record of 127 set in 2019, according to data from the Center for American Women and Politics at Rutgers University.
  • That includes at least 116 women in the House — smashing the record of 102 also set in 2019 — and 25 in the Senate, although that number could shrink with California Sen. Kamala Harris' ascendancy to the vice presidency.
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  • Four of the nine Republican women in the Senate were vulnerable in this year's elections, but only Arizona Sen. Martha McSally was defeated, while appointed Georgia Sen. Kelly Loeffler's fate will be determined in a January runoff.
  • There will be at least six new women of color in Congress — four Democrats and two Republicans — including Democrats Cori Bush, who will be Missouri's first Black congresswoman, and Nikema Williams, who was elected to the late Rep. John Lewis' seat in Georgia.
  • But the majority of the 24 non-incumbent women joining Congress in January are White, including 13 Republicans and five Democrats.
  • At least 91 White women will serve in the 117th Congress, up from 79 this year.
  • his year, though, it's Republican women who have made significant gains. After electing only one new Republican woman to the House in the midterms, Republicans this year have elected at least 15 non-incumbent women.
  • That means the number of Republican women in the House will at least double. (Currently there are only 13 women in the House GOP conference, and two of them did not run for reelection.) Democrats are adding nine new women, which balances out those they lost to defeat and retirement, increasing their numbers to 89 for now.
  • Whereas Democratic women have long been boosted by the pro-abortion rights group EMILY's List, which stands for "Early Money is Like Yeast," Republicans have lacked comparable infrastructure to invest in female candidates
  • That attitude, at least, began to shift after 2018, when New York Rep. Elise Stefanik, who had recruited more than 100 women as head of recruitment for the House GOP campaign arm, only to see one of them win, publicly sounded the alarm.
  • "It was the perfect storm. We had competitive seats that were winnable and we had incredible women in those districts with prior legislative experience and who knew how to put a campaign together," said Julie Conway
  • But by far the biggest reason for that success is that more Republican women raised their hands to run than ever before — in part because they saw what Democratic women did in 2018 — and more of them won primaries, which has traditionally been the biggest hurdle.
  • "Women around the country have watched other women before them be successful and realize, 'Hey, I can do it,'" said Iowa GOP Rep.-elect Ashley Hinson, who last week defeated Democratic Rep. Abby Finkenauer, one of the women who flipped a district in 2018.
  • But while the campaign committee still does not play in primaries, its leadership acknowledged it had to do better electing diverse candidates — rallying behind another woman, Indiana Rep. Susan Brooks, as the head of recruitment for 2020 — and now proudly touting female candidates' success this year.
  • Just as Democratic women were in 2018, Republican women this year were well-positioned to take advantage of a favorable environment.
  • "Being the first Republican woman elected to Congress in the state of South Carolina is deeply humbling," Mace said. "It reminds me that Democratic women do not hold a monopoly on breaking glass ceilings."
  • Women candidates often receive questions their male colleagues do not — like who's going to take care of their kids.
  • "The lady at the door, she thought I should be at home with my children. And I basically said, 'Well, I'm setting a good example for them.'"
  • The elected women agree the perspectives they bring to Congress are wanted — and needed.
  • Rep.-elect Carolyn Bourdeaux, the only Democrat who has so far flipped a competitive GOP-held district this year, won in the northeast Atlanta suburbs that are now the epicenter of the political battleground with the Senate majority hinging on two Georgia Senate seats.
  • "Many people here didn't even know that there were Democrats in their neighborhood," she said of the groundwork that that initial race laid.
  • Republicans have flipped eight Democrat-held seats, according to CNN projections so far, and women have delivered all but one of those wins. That means they're likely to face difficult reelections in the future, possibly against Democratic women.
  • "The whole idea of having 'girl seats' does not get us any closer to parity," she said.
  • A record 643 women ran for Congress in 2020 — 583 for the House and 60 for the Senate.
  • That is in part because as more women run for office, they are also more often running against each other, both in primaries and general elections. In 2016, women ran against each other in 17 House and Senate general election races, according to data from the Center for American Women and Politics. In 2020, that grew to 51 races with women challenging each other.
  • "I've already gotten texts from other women who are interested in running here in Iowa since the election last week," said Hinson
  • "I do feel like it's gotten better over the years, but I see it more often than not, and it's true on both sides of the aisle. That's why I'm always encouraging women to run."
Javier E

Donald Trump's Legacy of Lies - The Atlantic - 0 views

  • How did half the country—practical, hands-on, self-reliant Americans, still balancing family budgets and following complex repair manuals—slip into such cognitive decline when it came to politics?
  • Blaming ignorance or stupidity would be a mistake. You have to summon an act of will, a certain energy and imagination, to replace truth with the authority of a con man like Trump
  • Hannah Arendt, in The Origins of Totalitarianism, describes the susceptibility to propaganda of the atomized modern masses, “obsessed by a desire to escape from reality because in their essential homelessness they can no longer bear its accidental, incomprehensible aspects.”
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  • They seek refuge in “a man-made pattern of relative consistency” that bears little relation to reality
  • his followers abandoned common sense and found their guide to the world in him. Defeat won’t change that.
  • Trump damaged the rest of us, too. He got as far as he did by appealing to the perennial hostility of popular masses toward elites.
  • Monopoly of public policy by experts—trade negotiators, government bureaucrats, think tankers, professors, journalists—helped create the populist backlash that empowered Trump
  • His reign of lies drove educated Americans to place their faith, and even their identity, all the more certainly in experts, who didn’t always deserve i
  • The war between populists and experts relieved both sides of the democratic imperative to persuade. The standoff turned them into caricatures.
  • Trump’s legacy includes an extremist Republican Party that tries to hold on to power by flagrantly undemocratic means, and an opposition pushed toward its own version of extremism.
  • Many of his policies can be reversed or mitigated. It will be much harder to clear our minds of his lies and restore the shared understanding of reality—the agreement, however inconvenient, that A is A and not B—on which a democracy depends.
Javier E

Facebook's Apps Went Down. The World Saw How Much It Runs on Them. - The New York Times - 0 views

  • n India, Latin America and Africa, its services are essentially the internet for many people — almost a public utility, usually cheaper than a phone call and depended upon for much of the communication and commerce of daily life.
  • India accounted for about a quarter of those installations, while another quarter were in Latin America, according to Sensor Tower. Just 4 percent, or 238 million downloads, were in the United States.
  • In the global digital space, everyone could experience a shutdown,” Thierry Breton, the European commissioner drafting new tech regulations, said on Twitter. “Europeans deserve a better digital resilience via regulation, fair competition, stronger connectivity and cybersecurity.”
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  • In India, Brazil and other countries, WhatsApp has become so important to the functioning of society that regulators should treat it as a “utility,” said Parminder Jeet Singh, executive director at IT for Change, a technology-focused nonprofit in Bengaluru, India.
  • Worldwide, 2.76 billion people on average used at least one Facebook product each day this June, according to the company’s statistics. WhatsApp is used to send more than 100 billion messages a day and has been downloaded nearly six billion times since 2014, when Facebook bought it, according to estimates from the data firm Sensor Tower.
  • The unease about a single corporation mediating so much human activity motivates much of the scrutiny surrounding Facebook.
  • In Latin America, Facebook’s apps can be lifelines in rural places where cellphone service has yet to arrive but the internet is available, and in poor communities where people cannot afford mobile data but can find a free internet connection.
  • Across Africa, Facebook’s apps are so popular that for many, they are the internet. WhatsApp, the continent’s most popular messaging app, is a one-stop shop to communicate with family, friends, colleagues, fellow worshipers and neighbors.
  • The use of WhatsApp has grown so much that at one point it accounted for nearly half of all internet traffic in Zimbabwe. During the outage on Monday, the chief government spokesman in Tanzania used Twitter to urge the public to “remain calm.”
  • In Mexico, many small-town newspapers cannot afford print editions, so they publish on Facebook instead. That has left local governments without a physical outlet to issue important announcements, so they, too, have taken to Facebook, said Adrián Pascoe, a political consultant.
  • “The way businesses work, it’s been a crazy change in the last 20 years,” Mr. David said. “Then, we had no community online. Now we are hyper-connected, but we rely on a few tech companies for everything. When WhatsApp or Facebook are down, we all go down.”
woodlu

Facebook is nearing a reputational point of no return | The Economist - 2 views

  • The next day a whistleblower, Frances Haugen, told Congress of all manner of wickedness at the firm, from promoting eating disorders to endangering democracy.
  • Politicians are angry but so far seem incapable of co-ordinating reform to rein it in.
  • investors have kept buying the stock, regardless of the bad headlines. Yet the company should take no comfort from this. The blind fury unleashed shows that its reputational problems have got out of hand
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  • Reports highlighted internal research showing that Instagram, Facebook’s photo-sharing app, makes one in five American teenagers feel worse about themselves.
  • They paid less attention to the finding that Instagram makes twice as many feel better about themselves.
  • She revealed internal projections that a drop in teenagers’ engagement could lead to an overall decline in American users of 45% within the next two years. Investors have long faced a lack of open disclosure.
  • The question of how to regulate viral content for children goes beyond Facebook, as any parent who has left their child with YouTube knows. Likewise, dilemmas over how the firm amplifies attention and how to draw the line between upholding free speech and minimising harm.
  • Facebook repeated its plea that Congress should weigh in on matters such as minimum ages, rather than leaving it to firms.
  • Facebook’s critics are right that it should be more open. But the firm has half a point when it says that the hysterical reaction to unsurprising findings will lead companies to conclude that it is safer not to do such research at all.
  • The most damaging claim this week gained the least attention. Ms Haugen alleges that Facebook has concealed a decline in its young American users.
  • Misleading advertisers would undermine the source of nearly all the firm’s sales, and potentially break the law.
  • Although Facebook’s share price has lagged behind some tech giants, it has risen by almost 30% in the past 12 months. Politicians threaten to break the company up, but the antitrust case is flawed.
  • The Justice Department’s claim that Facebook is a monopoly rests on defining its market so as to exclude most social networks.
  • Facebook is nearing a reputational point of no return. Even when it set out plausible responses to Ms Haugen, people no longer wanted to hear.
  • The firm risks joining the ranks of corporate untouchables like big tobacco. If that idea takes hold, Facebook risks losing its young, liberal staff.
  • Even if its ageing customers stick with the social network, Facebook has bigger ambitions that could be foiled if public opinion continues to curdle.
Javier E

The Two Economists Who Fought Over How Free the Free Market Should Be - The New York Times - 0 views

  • The New Deal and World War II transformed the U.S. economy from a market free-for-all into a system that was still capitalist, but with many of the rough edges sanded off.
  • Profit-seeking business remained very much the norm — America never went in for significant government ownership of the means of production — but businesses and businesspeople were subject to many new constraints. Taxes were high, in some cases as high as 92 percent; a third of the nation’s workers were union members; vigilant antitrust policy tried to limit monopoly power. And the government, following the ideas developed by Britain’s John Maynard Keynes, took an active role in trying to fight recessions and maintain full employment.
  • Over the decades that followed, however, there was sustained pushback — first intellectual, then political — against these constraints, an attempt to restore the freewheeling capitalism of yore. Nicholas Wapshott’s “Samuelson Friedman: The Battle Over the Free Market” is basically an account of this pushback and its eventual fate, framed as a duel between two famous economists — Paul Samuelson of the Massachusetts Institute of Technology and Milton Friedman of the University of Chicago.
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  • Samuelson did write a best-selling textbook that brought Keynesian economics — the idea that changes in government spending and taxes can be used to manage the economy — to American college classrooms. And his concept of the “neoclassical synthesis” — markets can work, but only with government-created guardrails — in effect provided the intellectual justification for the postwar economy. But it’s clear that for him politics was never more than a peripheral concern.
  • Still, most economists continued to believe that a more flexible form of monetary policy could keep things under control — that the Federal Reserve could manage the economy without bringing Congress into the act
  • his magnum opus, “A Monetary History of the United States, 1867-1960” (with Anna Schwartz), while a magisterial work of scholarship, clearly had a major political ax to grind. For its big takeaway was the claim that the Great Depression wouldn’t have happened if the Federal Reserve Board had done its job and stabilized the money supply. That is, simple technocratic measures would have been sufficient — no need for all that Keynesian stuff.
  • The influence of Friedman’s monetary ideas peaked around 1980, then went into steep decline. Both the United States and Britain tried to implement Friedman’s belief that the authorities could stabilize the economy by ensuring steady, slow growth in the money supply; both efforts failed dismally
  • Friedman was no mere propagandist: He was a brilliant analytical economist capable of doing pathbreaking academic work when he set his mind to it. His work on monetary policy, in particular, persuaded many economists who disagreed with him about almost everything else.
  • But a number of economists had looked closely at Friedman’s arguments about the Great Depression, and found them wanting. And the aftermath of the 2008 financial crisis vindicated the doubters. Ben Bernanke, the Fed chair and a huge Friedman admirer, did everything Friedman and Schwartz said the Fed should have done in the 1930s — and it wasn’t enough. Soon Bernanke was pleading for help from fiscal policy — that is, pleading for Keynesianism to come to the rescue.
  • What about Friedman’s broader faith in free markets? Libertarian policies reached a high-water mark in the 1990s, as industries from power generation to banking were deregulated. But all too many of these deregulatory ventures ended in grief, with incidents like the California power crisis of 2000-1 and, yes, the banking crisis of 2008.
  • And where are we now? If you look at the Biden administration’s proposals
  • they sound a lot like what Paul Samuelson was saying decades ago.
  • So by all means you should read Wapshott’s history of the disputes that roiled economics over much of the second half of the 20th century
  • you should also ask a question I don’t think the book answers: Was all of this just a grand, ideologically driven detour away from sensible economic theory and policy? And why did that happen?
Javier E

The threat from the illiberal left | The Economist - 0 views

  • SOMETHING HAS gone very wrong with Western liberalism. At its heart classical liberalism believes human progress is brought about by debate and reform. The best way to navigate disruptive change in a divided world is through a universal commitment to individual dignity, open markets and limited government.
  • Over the past 250 years classical liberalism has helped bring about unparalleled progress.
  • But it is undergoing a severe test, just as it did a century ago when the cancers of Bolshevism and fascism began to eat away at liberal Europe from within. It is time for liberals to understand what they are up against and to fight back.
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  • By contrast the illiberal left put their own power at the centre of things, because they are sure real progress is possible only after they have first seen to it that racial, sexual and other hierarchies are dismantled.
  • The attack from the left is harder to grasp, partly because in America “liberal” has come to include an illiberal left
  • a new style of politics has recently spread from elite university departments. As young graduates have taken jobs in the upmarket media and in politics, business and education, they have brought with them a horror of feeling “unsafe” and an agenda obsessed with a narrow vision of obtaining justice for oppressed identity groups. They have also brought along tactics to enforce ideological purity, by no-platforming their enemies and cancelling allies who have transgressed—with echoes of the confessional state that dominated Europe before classical liberalism took root at the end of the 18th century.
  • Superficially, the illiberal left and classical liberals like The Economist want many of the same things. Both believe that people should be able to flourish whatever their sexuality or race. They share a suspicion of authority and entrenched interests. They believe in the desirability of change.
  • However, classical liberals and illiberal progressives could hardly disagree more over how to bring these things about
  • For classical liberals, the precise direction of progress is unknowable. It must be spontaneous and from the bottom up—and it depends on the separation of powers, so that nobody nor any group is able to exert lasting control.
  • The most dangerous threat in liberalism’s spiritual home comes from the Trumpian right. Populists denigrate liberal edifices such as science and the rule of law as façades for a plot by the deep state against the people. They subordinate facts and reason to tribal emotion. The enduring falsehood that the presidential election in 2020 was stolen points to where such impulses lead. If people cannot settle their differences using debate and trusted institutions, they resort to force.
  • Classical liberals believe in setting fair initial conditions and letting events unfold through competition—by, say, eliminating corporate monopolies, opening up guilds, radically reforming taxation and making education accessible with vouchers.
  • Progressives see laissez-faire as a pretence which powerful vested interests use to preserve the status quo. Instead, they believe in imposing “equity”—the outcomes that they deem just. For example, Ibram X. Kendi, a scholar-activist, asserts that any colour-blind policy, including the standardised testing of children, is racist if it ends up increasing average racial differentials, however enlightened the intentions behind it.
  • Mr Kendi is right to want an anti-racist policy that works. But his blunderbuss approach risks denying some disadvantaged children the help they need and others the chance to realise their talents.
  • Besides, society has many goals. People worry about economic growth, welfare, crime, the environment and national security, and policies cannot be judged simply on whether they advance a particular group.
  • Classical liberals use debate to hash out priorities and trade-offs in a pluralist society and then use elections to settle on a course.
  • It also involves making an example of supposed reactionaries, by punishing them when they say something that is taken to make someone who is less privileged feel unsafe. The results are calling-out, cancellation and no-platforming.
  • Progressives of the old school remain champions of free speech. But illiberal progressives think that equity requires the field to be tilted against those who are privileged and reactionary
  • That means restricting their freedom of speech, using a caste system of victimhood in which those on top must defer to those with a greater claim to restorative justice
  • The illiberal left believe that the marketplace of ideas is rigged just like all the others. What masquerades as evidence and argument, they say, is really yet another assertion of raw power by the elite.
  • Milton Friedman once said that the “society that puts equality before freedom will end up with neither”.
  • Illiberal progressives think they have a blueprint for freeing oppressed groups. In reality theirs is a formula for the oppression of individuals
  • it is not so very different from the plans of the populist right. In their different ways both extremes put power before process, ends before means and the interests of the group before the freedom of the individual.
  • Countries run by the strongmen whom populists admire, such as Hungary under Viktor Orban and Russia under Vladimir Putin, show that unchecked power is a bad foundation for good government. Utopias like Cuba and Venezuela show that ends do not justify means
  • And nowhere at all do individuals willingly conform to state-imposed racial and economic stereotypes.
  • When populists put partisanship before truth, they sabotage good government. When progressives divide people into competing castes, they turn the nation against itself. Both diminish institutions that resolve social conflict. Hence they often resort to coercion, however much they like to talk about justice.
  • populists and progressives feed off each other pathologically. The hatred each camp feels for the other inflames its own supporters—to the benefit of both. Criticising your own tribe’s excesses seems like treachery. Under these conditions, liberal debate is starved of oxygen
  • Aspects of liberalism go against the grain of human nature. It requires you to defend your opponents’ right to speak, even when you know they are wrong. You must be willing to question your deepest beliefs. Businesses must not be sheltered from the gales of creative destruction. Your loved ones must advance on merit alone, even if all your instincts are to bend the rules for them. You must accept the victory of your enemies at the ballot box, even if you think they will bring the country to ruin.
  • Too many left-leaning liberals focus on how they, too, want social justice. They comfort themselves with the thought that the most intolerant illiberalism belongs to a fringe. Don’t worry, they say, intolerance is part of the mechanism of change: by focusing on injustice, they shift the centre ground.
  • Yet it is precisely by countering the forces propelling people to the extremes that classical liberals prevent the extremes from strengthening. By applying liberal principles, they help solve society’s many problems without anyone resorting to coercion
  • Only liberals appreciate diversity in all its forms and understand how to make it a strength. Only they can deal fairly with everything from education to planning and foreign policy so as to release people’s creative energies.
Javier E

McChrystal says U.S. needs to 'go to school' on pandemics before we're hit again - Mark... - 0 views

  • Twice in an interview, McChrystal raised fears of existential threats—from a new pandemic, and in comparing the proliferation of social-media influence to the unchecked spread of nuclear weapons.
  • He also believes the United States needs to take its relationship with China more seriously. U.S. ambiguity over Taiwan is becoming increasingly problematic, he says. 
  • MarketWatch: You’ve advised state governments on the pandemic. What lessons can we take away from America’s federal response to Covid-19? 
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  • Stanley McChrystal: If you go back, Covid-19 was not that formidable a threat. We knew that it was coming. Not Covid-19 particularly but we knew that kind of viral threat came on a periodic basis and that a pandemic level was inevitable. And then we knew what to do about it because our experience in public health is really pretty rich. And then, with this pandemic, we had the extraordinary medical miracle where we produced vaccines faster than any time in history. 
  • If you line those factors up, we should have had a win. Instead, we lost hundreds of thousands of Americans and millions more around the world. Some percentage probably could not have been saved. But the reality was that, from the outset, we didn’t communicate clearly and we therefore undermined our credibility on what the threat was and what we needed to do about it. 
  • The responsibility of leadership is to move rapidly and effectively, and we just didn’t do that. We’d better go to school on this because, if we can get punished this badly by a pandemic like this, imagine how much worse it would have been with a virus like smallpox. Society’s very existence could have been threatened.
  • MW: Let’s shift to another frontier of vulnerabilities. How do you view a company like Facebook, which has been criticized for enabling global terrorist groups to recruit while also allowing domestic extremists to promote hateful views?
  • I would use an analogy to nuclear weapons at the end of the Second World War. We developed this horrific technology and we really hadn’t figured out how we were going to control it. That was OK for the first couple of years because we had a monopoly. But once global proliferation began then we suddenly had a very complicated world. There was a need for a number of protocols pertaining to holding countries responsible for having that kind of power.  
  • The problem with social media is that we developed tools of equivalent danger because of the ability to pass information faster than we can think. I don’t think we’ve yet matured enough as a society to know how to control and deal with it. 
  • MW: Given these risks, could the next American battlefield be online? 
  • McChrystal: Yes, I think we will see war play out digitally. What if, on the Sunday afternoon before a Tuesday election, the Russians planted a semi-believable story about a candidate? And then there wasn’t time to gain clarity between Sunday afternoon and Tuesday morning before people started voting? The public would go into voting booths affected by that attack. 
  • We are all extraordinarily brittle given this exposure, and our society is no longer capable of operating without the information technology that connects us all.  
  • MW: With these types of dangers in mind, is the United States appropriately weighing the possibility of a major conflict with China? 
  • McChrystal: In my personal opinion, we are not. I am not advocating for the resumption of the Cold War, but our competition with China is going to be a very hard-edged, long-term, economic competition. There is also a military competition as the Chinese have been on a breakneck development of military capacity over the last decade or so, which now makes it much harder for the U.S. to credibly limit the risk they pose. 
  • We also have to recognize that we don’t have to be at war with China for there to be serious risks. We need to explore new policies that will increase protection for private investments, our national interests, our intellectual property, and our supply chains. In a peaceful environment, it makes sense for our supply chains to be built in low-cost areas of production. However, if they’re in a country like China that can then use that as leverage over us, then we’ve got to address that and find a different solution. 
  • No matter what, we have to make the appropriate investments so that our military effectiveness against the Chinese remains a viable option. We’ve got to be able to do what we need to do in that region, which may include defending Taiwan. 
  • MW: Do current global supply chains—and America’s dependence on single nations for various types of production—pose a risk to the U.S. economy? 
  • McChrystal: Consider our ability to produce batteries and that production for cobalt largely comes from the Democratic Republic of the Congo and the product is then mostly processed in China. Items that are going to be central to our switch to electric vehicles and to different storage systems are dependent on a free flow of goods from China. 
  • We’ve got so many things that are part of our vital supply lines that are at risk. We’ve got to step back and we’ve got to make some national decisions on which items need to be sourced within the United States. We at least need that capability so we’re not completely dependent. If somebody gets their hand around our windpipe and squeezes, then the nation suffocates. 
Javier E

The American retirement system is built for the rich - The Washington Post - 0 views

  • While loudly and proudly proclaiming that their goal is to nurture nest eggs for the working class, lawmakers have constructed a complex of tax shelters for the well-to-do. The lopsided result is that as of 2019, nearly 29,000 taxpayers had amassed “mega-IRAs” — individual retirement accounts with balances of $5 million or more — while half of American households had no retirement accounts at all.
  • according to the Congressional Budget Office, the top 10th of households reap a larger share of the income tax subsidy for retirement savings than the bottom 80 percent.
  • It’s working out just fine for the financial institutions that manage assets in IRAs and 401(k)s. The combined amount in those vehicles reached $21.6 trillion at the end of 2021 — up fivefold since 2000 — and the more money that pours in, the more that managers collect in fees
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  • University of Virginia law professor Michael Doran — who held tax policy roles at the Treasury Department under Presidents Bill Clinton and George W. Bush — calls the current state of affairs “the great American retirement fraud.”
  • Secure 2.0 would take the fraud to a new level: Its congressional supporters have engaged in Enron-style accounting gimmicks to mask the bill’s effects on deficit
  • from the outset, IRAs were a generous gift to the upper class. At the time, very few low- and middle-income individuals could afford to stash $1,500 in a retirement account each year — median income for U.S. households was $11,100 in 1974 — so the people taking full advantage of the new IRAs tended to be relatively rich
  • since the benefit was structured as a deduction, it was worth more to taxpayers in higher income brackets.
  • In the nearly half-century since, Congress has continually expanded the amount that individuals can pour into tax-deferred savings accounts.
  • Now, the JCT estimates that 401(k)s and other similar defined-contribution plans cost the federal government $200 billion per year.
  • individuals can contribute up to $6,000 per year to an IRA ($7,000 if age 50 or older), plus $20,500 to a 401(k) ($27,000 for 50-year-olds and up), with their employers potentially chipping in to bring the 401(k) total to $61,000 ($67,500 for the over-50 set).
  • In 2018, the most recent year for which data is available, 58 percent of taxpayers with wage income made no contribution to 401(k)-style plans, and less than 4 percent bumped up against the contribution cap.
  • As of 2020, approximately 63 percent of U.S. households had no such accounts.
  • I calculated that an individual who made the maximum 401(k) contributions since 1990, investing exclusively in an S&P 500 index fund, would have more than $7 million in her account today.
  • When JCT released data last summer showing that 28,615 taxpayers had accumulated $5 million or more in IRAs, lawmakers cried foul. Rep. Richard Neal (D-Mass.), who as chairman of the Ways and Means Committee is the top tax writer in the House, lamented the “exploitation” of IRAs. “IRAs are intended to help Americans achieve long-term financial security, not to enable those who already have extraordinary wealth to avoid paying their fair share in taxes,”
  • (The very largest IRAs, like PayPal co-founder Peter Thiel’s reported $5 billion account, result from a different loophole: the ability of founders and early-stage investors to stuff IRAs with start-up stock
  • Forbes revealed more than a decade ago that Thiel and another PayPal co-founder were using their IRAs to shelter entrepreneurial earnings; the Government Accountability Office flagged the IRA-stuffing phenomenon in 2014; and rather than clamping down, lawmakers from both parties sat on their hands.)
  • The Secure 2.0 bill, sponsored by Neal, doubles down on the inequities of the status quo. It will inevitably result in even more of the mega-IRAs that Neal and other Democrats decry.
  • Under current law, taxpayers must begin to take withdrawals from their 401(k)s and traditional IRAs at age 72. (It had been 70½ before Secure 1.0, signed into law by President Donald Trump in 2019, raised the age by a year and a half.
  • Secure 2.0 would bump that up to age 75. The change would mean that taxpayers with supersize IRAs could enjoy three extra years of tax-free growth before they needed to take money out
  • Lower-income retirees wouldn’t benefit because they don’t have the luxury of holding off on withdrawals, which they need to cover living expenses.
  • Another provision would lift the cap on 401(k) catch-up contributions at ages 62, 63 and 64 from $6,500 to $10,000. Factoring in employer matching contributions, that would raise the maximum 401(k) inflow to $71,000 per year.
  • if lawmakers were genuinely concerned about retirement security for people who need it, they wouldn’t start by aiding taxpayers who can afford to save more each year than most Americans earn. The higher limit on catch-up contributions will simply allow high-income taxpayers to race further ahead.
  • The top-weighted benefits of Secure 2.0 might be tolerable if they were offset by other tax increases on the rich — if this were all just moving money from one deep pocket to another. But the items audaciously labeled as “revenue provisions” in the bill generate revenue as real as Monopoly money.
  • The Rothification provisions in Secure 2.0 bring $35 billion of revenue into the 10-year window — ostensibly offsetting the cost of the bill’s giveaways — but the $35 billion is pure make-believe: It comes at the expense of an equivalent amount of revenue down the road.
  • If lawmakers from either party were truly concerned about the plight of low-income retirees, they would focus on strengthening Social Security, which actually provides a safety net for older people, rather than adding more deficit-financed bells and whistles to retirement accounts for the rich.
Javier E

It's Not Misinformation. It's Amplified Propaganda. - The Atlantic - 0 views

  • The call to action urged people to start posting at noon Pacific time, attach their favorite graphics, and like and retweet other Buttar supporters’ contributions.
  • Confronted with campaigns to make certain ideas seem more widespread than they really are, many researchers and media commentators have taken to using labels such as “misinformation” and “disinformation.” But those terms have fallen victim to scope creep. They imply that a narrative or claim has deviated from a stable or canonical truth; whether Pelosi should go is simply a matter of opinion.
  • In fact, we have a very old word for persuasive communication with an agenda: propaganda.
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  • That term, however, comes with historical baggage. It presumes that governments, authority figures, institutions, and mass media are forcing ideas on regular people from the top down. But more and more, the opposite is happening.
  • Far from being merely a target, the public has become an active participant in creating and selectively amplifying narratives that shape realities. Perhaps the best word for this emergent bottom-up dynamic is one that doesn’t exist quite yet: ampliganda
  • This amplification chain is incredibly powerful; it surfaces civil-rights violations, protest movements, and breaking events, whether traditional media choose to cover those events or not.
  • it’s also how quack medical claims and a daily parade of conspiracy theories are made to trend—#Ivermectin, #SaveTheChildren, #StopTheSteal.
  • Although it is tempting to believe that foreign bogeymen are sowing discord, the reality is far simpler and more tragic: Outrage generates engagement, which algorithmically begets more engagement, and even those who don’t want to shred the fabric of American society are nonetheless encouraged to play by these rules in their effort to call attention to their cause.
  • Most Twitter users never knew that #PelosiMustGo began because someone gave marching orders in a private Discord channel. They saw only the hashtag. They likely assumed that somewhere, some sizable portion of Americans were spontaneously tweeting against the speaker of the House.
  • The word propaganda is a form of a Latin verb, one that Gregory likely chose “to add to the sense of a religious Crusade,” Maria Teresa Prendergast and Thomas Prendergast write in the Oxford Handbook of Propaganda Studies. The term referred less to what Church representatives said than what they did; propaganda described their fervid mission to disseminate the Church’s view far and wide.
  • Over the subsequent centuries, propaganda gradually acquired a secular meaning—information with an agenda, deliberately created to shape the audience’s perception of reality.
  • social media has ended the monopoly of mass-media propaganda. But it has also ushered in a new competitor: ampliganda—the result of a system in which trust has been reallocated from authority figures and legacy media to charismatic individuals adept at appealing to the aspects of personal or ideological identity that their audiences hold most dear.
  • Of all the changes wrought by social networks, this ability of online crowds to influence one another is among the most important and underappreciated.
  • Harvard’s Yochai Benkler described a “propaganda pipeline” whereby marginal actors on such social-media sites as Reddit and 4chan pass stories to online influencers, who in turn draw the attention of traditional media. Another scholar, Alicia Wanless, applied the term participatory propaganda, and Jennifer Mercieca, a rhetoric professor at Texas A&M, recently insisted, “We are all propagandists now.”
criscimagnael

32 Years After Civil War, Mundane Moments Trigger Awful Memories - The New York Times - 0 views

  • When you’re a child, how do you get through a war?A lot of Monopoly, Scrabble, card games, candles and windowless bathrooms turned into family bomb shelters, almost like a big sleepover — if you can ignore the hard tiles and loud shelling of some group trying to kill you for reasons you don’t quite understand.
  • We grew up during Lebanon’s civil war and are now adults trying to live normal lives, raising our own families as the country crashes and burns yet again.
  • For my generation, emotional minefields can surround the most mundane activities even 32 years since the war ended.
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  • “Candles give me anxiety. We spent so much time studying by candlelight after school.”
  • “It’s a collective trauma in Lebanon, and a complex trauma, because we aren’t talking about one thing, but many events that people have lived through,” said Ghida Husseini, my former therapist in Lebanon who specializes in trauma. “It’s the war, it’s the stress of losing your livelihood and not feeling secure.”
  • The war lasted for 15 years, until 1990. Tired of waiting, the nation accepted a blanket amnesty for a shaky peace. We watched as militia leaders traded in their blood-soaked fatigues for designer suits and started running the country.
  • Now we find ourselves waiting, again, as those war criminals-turned-politicians have mismanaged the country — an ongoing banking crisis has seen the currency shed over 90 percent of its value — and skirted responsibility for an explosion at Beirut’s seaport in the summer of 2020.
  • Decades later, sunsets are one of the sources of trauma for him, still.
  • “I remember sitting on a mattress as a kid, surrounded by candles. There’s a feeling of being trapped. There is no TV. No music. No electricity. You can’t go outside, it’s too dangerous. All there is — is cards.”
  • One night, as Raoul slept — his bedroom window had the dining table nailed to it, to protect against snipers — bombing started. His mother cried out for him, looking frantically until they found Raoul, then 5, crying while hugging a framed photo of the Virgin Mary that had fallen from the wall, praying for his life. He developed a stutter after that.
  • Yet every summer, no matter what happened — an Israeli invasion, the suicide bombing that killed hundred of U.S. Marines — we went back, to be with our family, to hold their hands and say: We have not abandoned you. It was the most twisted of survivor’s guilt
  • Many are left wondering how their adult lives would be better if their childhoods had been different.
  • Reminders of a past war are now staples of the present decay.
  • Because it meant night was coming. And nighttime meant shelling.
  • “I could have been a better person, a stronger person, maybe wiser, with less fear,” he said. “Especially the fear. Because fear is trauma. I’m a grown man and I'm afraid to walk in the dark. Because to me, the dark is war.”
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