Study: International Tax on Rich Could Net $250B Annually
A study commissioned by the government of Brazil has proposed a global tax on the ultra-wealthy, claiming this would be both "technically feasible" and "economically beneficial."
The study, conducted by French economist Gabriel Zucman, says such a levy on the world’s 3K billionaires could rake in up to $250B in revenue annually.
Left narrative
The ultrawealthy are exceptionally adept at evading taxes. Earning from investments, and not salaries, lets them reinvest profits and borrow against their assets tax-free. The proposed global minimum tax on billionaires could both tackle growing inequality and ensure fairer tax contributions.
Right narrative
A global wealth tax on billionaires would be counterproductive. It would deplete their savings and discourage investments crucial for economic growth, hindering long-term economic stability. Managing and enforcing such a tax would also strain existing systems.
Nerd narrative
There is a 50% chance that the world will see its first trillionaire by 2032, according to the Metaculus prediction community.
Russia Bans 81 European Media Outlets
Russia banned 81 media outlets from the 27 EU-member nations Tuesday in response to broadcast restrictions imposed by the EU on four Russian official media outlets in May for allegedly publishing disinformation on the Ukraine war.
Kremlin-operated RIA Novosti had its broadcasting privileges suspended last month; newspapers Izvestia and Rossiiskaya Gazeta and news website Voice of Europe were also suspended.
Anti-Russia narrative
This is yet another example of Russia's constant attack on the free press in an effort to keep the truth from its people —including how the government is treating its citizens and what's happening during the illegal occupation of Ukraine. This isn't surprising, but it's another reason Russia must be treated as a despotic nation.
Pro-Russia narrative
Moscow is the victim here. Russia has repeatedly warned the EU about its politically motivated harassment of its journalists and censuring Russian media in the EU. But instead of heeding the warnings, Brussels chose to escalate the situation. When the EU lifts its ban on Russian media, the Kremlin will lift its ban in kind.
Nerd narrative
There's a 2% chance that Russia will annex any part of any Baltic country by 2035, according to the Metaculus prediction community.
WHO Warns of New Mpox Strain in Africa
Scientists from the World Health Organization (WHO) issued a warning Tuesday over the spread of mpox, formerly known as monkeypox, in Africa, with other scientists drawing attention to a new strain found in the Democratic Republic of the Congo (DRC).
Around 8.6K mpox cases have been reported in the DRC this year, resulting in 410 deaths. A new strain, which is a mutated version of the clade I mpox endemic seen in the DRC for decades, reportedly has a 5% fatality rate for adults and 10% for children.
Pro-establishment narrative
As Africa faces the brunt of the mpox outbreak, research on how to combat the virus is vital. However, with studies limited to wealthier countries, clinical trials and outbreak surveillance must be funded with a primary focus on hard-hit African countries. Poorer countries shouldn't be left helpless simply due to economic inequality.
Establishment-critical narrative
While the initial mpox outbreaks may have come from animals, it appears the US National Institute of Allergy and Infectious Diseases is conducting gain-of-function research yet again. No scientist or government should be conducting studies that have the potential to make these diseases even deadlier in the face of an existing endemic in Africa.
Nerd narrative
There is a 55% chance that an orthomyxoviridae pathogen will cause the next pandemic, according to the Metaculus prediction community.
US Defense Secretary Has First Call With New Russian Counterpart
The US Defense Secretary Lloyd Austin on Tuesday had his first call with his Russian counterpart Andrei Belousov, appointed to his post in May.
According to a Pentagon readout of the call, Austin "emphasized the importance of maintaining lines of communication amid Russia's ongoing war against Ukraine."
Pro-establishment narrative
As Russia continues its illegal invasion of Ukraine, the US defense secretary made this call to ensure that lines of communication stay open to avoid a miscalculation on either side that could lead to devastating consequences.
Pro-Russia narrative
During the call with the American defense secretary, Belousov stressed that the continued supply of weaponry to Ukraine is leading to a dangerous escalation. Last week's attack on Crimea with US weapons — killing four and injuring more than 150 — was given as an example of this.
Nerd narrative
There is a 9% chance that there will be a US-Russia war before 2050, according to the Metaculus prediction community.
UNESCO Proposes Putting Stonehenge on 'In Danger' List
The UN Educational, Scientific, and Cultural Organization (UNESCO) has recommended adding Stonehenge, the landmark Neolithic site in southwest England, to its list of World Heritage sites that are in danger because of plans to dig a road tunnel near the ancient monument.
Last July, the UK government approved the £1.7B ($2.2B) construction of a road tunnel close to the standing stones of Stonehenge — built between 3K and 2.3K B.C. — to ease traffic congestion on the road to southwest England.
Establishment-critical narrative
UNESCO isn't against the plan to decongest a crucial main road, but it wants the UK government to stop committing a disgraceful act of vandalism and change the plan to include a longer tunnel — one which wouldn't compromise the integrity of the Stonehenge standing stones. The UK is obligated to protect Stonehenge, so it must seize the opportunity to reverse its ludicrously expensive plan.
Pro-establishment narrative
The tunnel would improve the landscape by eliminating the sight and sound of traffic passing the sacred site on the single-carriageway stretch, and also restore Stonehenge's ancient landscape by giving its stones the setting they deserve. It's disappointing that UNESCO is threatening to strip Stonehenge's status over a plan that will actually deliver a lasting, positive legacy for the monument.
Judge Lifts Parts of Trump Gag Order
The judge who presided over former US Pres. Donald Trump's Manhattan criminal case lifted portions of a gag order Tuesday, permitting the presumptive Republican presidential nominee to criticize witnesses and others involved in his trial.
Judge Juan Merchan, who issued the gag order in March over claims Trump had made "threatening, inflammatory [and] denigrating" comments, kept in place a gag order on Trump speaking about prosecutors and family members of the judge until Trump is sentenced July 11.
Pro-Trump narrative
Although this is a partial victory for Trump, it's indeed a victory — especially ahead of the presidential debate, where he has to be allowed to defend himself against questions about his convictions. His First Amendment rights are still being violated as parts of the gag order remain in place, but at least he can go on the offensive when necessary.
Anti-Trump narrative
Although everyone knew the complete gag order couldn't last forever, one has to worry that this might not be the best time to loosen Trump's restrictions. The connection between Trump's words and his followers' violence is well-documented, and keeping in mind the light punishment he has received for violating the gag order in the past; this could turn ugly.
Nerd narrative
There's a 22% chance that Trump will be jailed or incarcerated before 2030, according to the Metaculus prediction community.
Biden Grants Clemency for Dishonorably Discharged LGBTQ Veterans
US Pres. Joe Biden is set to pardon former military members who were convicted and dishonorably discharged under the now-defunct Article 125 of the Uniform Code of Military Justice, which criminalized sodomy in the military.
Article 125 was established in 1951 before the military issued its "Don't Ask, Don't Tell" policy in 1993, which allowed LGBTQ people to serve more easily as long as they didn't reveal their sexuality. Congress then allowed openly LGBTQ troops to serve in 2011.
Democratic narrative
This long overdue policy should be welcomed by all who support US soldiers and veterans. Thanks to the blatantly homophobic laws of the 20th and early 21st centuries, thousands of brave soldiers were legally discriminated against, had their service records tarnished, and were deprived of veterans' benefits. To return honor and dignity to these heroes as quickly as possible, military officials should work to expedite these pardons.
Republican narrative
Given the state of decline of today's military, debates over past policies are irrelevant. Woke military policies have resulted in the lowering of physical fitness requirements and prioritized radical left agendas over the operational readiness of the armed forces. There's nothing wrong with promoting a more traditional culture within the US military and, especially, prioritizing the role of the armed forces to uphold the national security of the United States.
Nerd narrative
There is a 50% chance that at least 13.1% of American adults in 2070 will identify as LGBTQ, according to the Metaculus prediction community.
DHS: IS-Linked Network Brought 400 Migrants Into US
Officials from the US Department of Homeland Security (DHS) have claimed that a human smuggling network affiliated with the so-called Islamic State (IS) militant group has helped over 400 migrants enter the US illegally, with many still at large.
While many were released into the US by the Customs and Border Protection (CBP), more than 150 have been apprehended — and some of them have already been deported — on immigration charges. The whereabouts of 50 remains unknown.
Republican narrative
The Biden administration is failing the country as terrorist groups take full advantage of the porous southern border. While the White House has attempted to hide the extent of the problem, arrests mount for terror suspects who entered the country illegally. It's pressing to secure the border and stop illegal immigration before this leads to deadly and tragic consequences.
Democratic narrative
The connection between terrorism and illegal migration is a red herring, as the numbers show that it is a negligible concern. Groups such as IS have made domestic "lone-wolf" attacks their calling card and do not prioritize smuggling in operatives illegally. The real terror threat comes from domestic extremist groups, not desperate people fleeing to America.
Nerd narrative
There is a 78% chance that another 9/11 on US soil will be prevented at least through 2030, according to the Metaculus prediction community.
UK Betting Scandal: Alister Jack Admits to Betting on Election Date
Scottish Secretary Alister Jack has admitted to betting on the date of the UK general election, as a growing number of UK members of parliament and political officials are being investigated by the UK Gambling Commission.
Jack released a statement around 10 p.m. Tuesday night (local time), saying that he placed two unsuccessful wagers of £5 ($6) each, on the election date in March before winning a £20 ($25) bet made in April on the election occurring between July and September.
Establishment-critical narrative
As more and more politicians and political insiders become implicated in this betting scandal, people are growing increasingly distrustful of their leaders. Politics is personal for so many people, impacting their ability to make ends meet and live their day-to-day lives. Yet the people in charge sadly view politics along the lines of a casino game. Potentially using insider information only deepens this scandal, and it will take serious effort for British politicians to regain the trust of their constituents again.
Pro-establishment narrative
Politicians betting on political outcomes certainly presents an ethical dilemma, and using insider information to make a quick buck is not behavior that's ethical for a public official. However, the moral outrage that has come amid this gambling saga is disproportionate to the severity. For example, Alister Jack wagered £20 on the election being held between July and September. Should he be imprisoned or removed from office? The answer is obviously not. The leaders involved should be scolded for their foolish activities, but this is hardly a national scandal of epic proportions.
Nerd narrative
There is a 50% chance that the Conservative party will win at least 113 seats in the UK general election, according to the Metaculus prediction community.
SCOTUS Supports White House Regarding Social Media Company Engagement
The US Supreme Court (SCOTUS) on Wednesday threw out a conservative challenge to the Biden administration's efforts to work with social media companies to combat posts considered to be misinformation.
The case — Murthy v. Missouri — was launched by officials from Louisiana and Missouri and five social media users who claim that the Biden admin.'s efforts to suppress content on social media, including its direct contact with tech industry officials, violated their First Amendment rights.
Republican narrative
This decision is a complete erosion of free speech rights, as it allows the Biden administration to suppress whatever it deems "misinformation." The White House has already openly and proudly coordinated with big-tech companies to scrub platforms of dissenting opinions on a wide range of issues, which multiple courts ruled unconstitutional. Biden will now be further emboldened to silence his critics ahead of November's election.
Democratic narrative
This decision will keep the internet safer and prevent dangerous lies from circulating the web unchecked in the face of the Republican-led effort to spread misinformation. That it came from the conservative-majority SCOTUS legitimizes the Biden administration's past work with social media companies and empowers it to resume working with the platforms — many of whom have voluntarily tightened their regulations around misinformation.
Nerd narrative
There's a 55% chance taht the 2024 US election will be considered fraudulent by the losing party, according to the Metaculus prediction community.