The Panama Papers Worked

money

Tax evasion is a problem in every country and it’s up to teams of investigative journalists to expose mass illegal international operations. A few years ago the Panama Papers exposed an efficient tax dodging operation by a large group of wealthy people. The results of the exposure from the Panama Papers has led to millions being collects in countries with more results coming in.

Not only did the Panama Papers catch a bunch of criminals it also proves investigative journalism works.

More than a dozen people are in prison or awaiting sentencing in Ecuador, the United States and Panama for their roles in a bribery scheme at the Ecuadorian state petroleum company that was exposed in the huge document leak.

In South Korea, the leak led to bribery indictments against a former army general and a former executive of a major defence company.

And in Pakistan, former prime minister Nawaz Sharif has been serving a seven-year sentence after the Panama Papers revealed assets his family had hidden overseas. He is appealing his conviction, calling the charges against him politically motivated.

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Investing in Walkable Communities Saves Cities Money

Having multiple forms of transportation improves how people navigate the world. When people are provided with mobility options they will more likely leave behind a car. It turns out that not only is that good for people it’s also good for the finances of cities. If you’re sick of high taxes then start electing politicians that want to get rid of monolithic car culture.

Investing in walkable cities, whether through allocating funds to repaint pedestrian walkways or building affordable housing close to downtowns, also attracts diverse populations and creates jobs. According to the Chicago Metropolitan Agency for Planning, 63 percent of millennials and 42 percent of boomers would like to live in a place where they don’t need a car. And according to the National Association of Realtors, 62 percent of millennials prefer to live in a walkable community where a car is optional. If cities seem less automobile-dependent, chances are they are more appealing to a range of ages.

Walking also costs the city very little, unlike cars and even public transit. According to Speck’s book, if a resident takes a bus ride, it may cost them $1 but costs the city $1.50 in bus operation. If a resident decides to drive, it costs the city $9.20 in services like policing and ambulances. When a resident walks, the cost to the city is a penny.

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Even More Research that Raising Minimum Wage is Good for Everyone

happy workers in a factory

Haters keep telling us that minimum wage is too high, which is really saying they would love free labour for private profits. Those haters are also not thinking about the economy at large. A new, massive, study on the impact of minimum wage concludes that minimum wage increases help people who aren’t currently being paid enough and that the benefits to that group cascade upwards on the economic ladder. Trickle down economics is a clear failure and trickle up economics looks rather effective!

The study is indeed impressive. Census researchers Kevin Rinz and John Voorheis used data from the bureau’s Annual Social and Economic Supplement, which surveys more than 75,000 households. The authors then link this data with administrative filings from the Social Security Administration on wages and track the changes between 1991 and 2013. The study stands out for covering such a large number of people over such an extended period.

“[R]aising the minimum wage increases earnings growth at the bottom of the distribution, and those effects persist and indeed grow in magnitude over several years,” the authors write. At the same time, there’s little indication that other people will lose their jobs as a result of the minimum wage—the outcome conservatives always warn about.

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Here’s an Optimistic Savings Chart

Retirement grid

Retirement is a dream too far away for people to think about. We’re all really bad at thinking about the future and we often don’t want to think about money. Four Pillar Freedom put together the early retirement grid to address these concerns, and indeed retirement is something you can achieve. As with most issues in our society you can start making a positive impact on the world by buying less and reusing things more.

The sweet spot of the grid is found in the line of light yellow and green squares that cut through the middle. Each of those squares is in the 16 to 28 years range. They represent how many years you would need to work if you saved between 30% and 50% of your after-tax income. For many people, saving that much is a tough but realistic goal.

Considering the average person works for over 40 years, getting that number down to 28 is no small feat! That represents 12 extra years of your life where you get to do what you want, when you want, on your own terms.

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African Development Bank is Going Green

solar

Banks have a reputation for being too greedy for the good of anyone outside themselves; however, some banks are thinking in the long term. The African Development Bank has announced a partnership with Green Climate Fund to push renewable energy and resilient systems. They figure that Africa is the best part of the world to achieve a sustainable economy because of the increasing investment in the continent and the ability to ‘leap frog’ older energy technology.

Together with the Green Climate Fund, we can do a lot to move the continent towards low-carbon and climate-resilient development.”

Approved as a GCF Accredited Entity in March 2016, AfDB is working on a series of mitigation and adaptation initiatives at the national and regional levels designed to enhance African countries’ access to GCF resources.

GCF Executive Director, Howard Bamsey said GCF’s partnership with AfDB will be key in unlocking the potential across the African continent to pursue climate resilient and low-emission growth.

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