The Group of Seven (G7), which consists of seven wealthy democracies including Canada, France, Germany, Italy, Japan, the UK, and the US, met over the weekend to consider a ‘global minimum corporate tax rate’. A new minimum rate of at least 15% was tentatively agreed on.
Since its inception due to the passage of the Fair Labor Standards Act of 1938, the minimum wage has been a highly debated topic. Originally set at 25 cents, the minimum wage has grown much larger over time. The Federal minimum wage currently stands at $7.25, unchanged since 2009 (DOL, 2019). Many states, however, have decided to set their own minimum wages, and some are much higher than the minimum Federal level. In this study, we attempt to determine the effect that minimum wage laws at the state and Federal level have had on poverty in the United States.
Congress will soon be passing a new Covid-19 stimulus package worth nearly $900 billion. This new package provides relief for individuals that are unemployed by extending federal unemployment insurance programs as well as providing an additional $300 per week benefit. It also includes loans for businesses, testing and vaccine funds, as well as funding for schools.
The world has been thrown into chaos over the course of the past several weeks with the rapid spread of the Coronavirus (COVID-19). The virus has spread from China to some of the most remote islands on Earth. Since it has begun to spread, markets have been extremely volatile and many businesses have been forced to shut down, both voluntarily and by government mandate.
In the development of AI, it is necessary to have access to huge masses of data. Foer of the Atlantic writes in his book, “The [firms that are dominant at developing AI] are the ones that have amassed the most complete portraits of us.