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Jeff Bezos’ wealth grew because people were using Amazon much more than usual during the pandemic

Senator Bernie Sanders wants to impose a 60% tax on the wealth that billionaires made during the duration of the pandemic. But setting aside the damaging impacts of wealth taxation, and all the other issues regarding the feasibility and sustainability of imposing a wealth tax to pay for government programs, statements implying that big corporations took advantage of the coronavirus pandemic are simply untrue. During the coronavirus, people shifted to online shopping. Amazon and other corporations like Walmart happened to be well-positioned to satisfy this surge in online demand for goods and services. It does not take a lot of math...

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Xcel Energy warns of possible power outages similar to South Australia due to growing renewable presence

Buried within Xcel Energy’s latest resource planning documents lies a dire warning about the rapidly growing presence of wind and solar energy sources on Minnesota’s electrical grid. [Appendix J of the document]. According to the state’s largest electric utility company, Minnesota’s race to dismantle large power facilities - like coal facilities such as Sherco and AS King, and even some hoping for the toppling of the state's two carbon-free nuclear facilities - in favor of intermittent renewable energy sources like wind and solar is creating conditions more susceptible to state-wide power outages. Xcel warns that the growing presence of remote energy sources like wind and...

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The Covid-19 induced recession may have just delivered the biggest economic blow to young people, especially Millennials

Generally, millennials are less wealthy compared to previous generations at their age and the shutdown has compiled on their economic hardships. For other young people (especially those just entering the workforce or still in school), the shutdown has dimmed their employment prospects and will potentially affect their lifetime earnings and wealth-building capacity. ...

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