Vice President Kamala Harris will announce Wednesday a ten-fold expansion of the tax credit for starting a small business as part of a sweeping new economic plan.
The big picture: The ambitious proposalis a part of the Harris campaign'sdelicate balancing act on the economy, which seeks to defend President Biden's administration while also looking past it with new policies to help working- and middle-class Americans.
There's a persistent fantasy that Congress might pass a comprehensive cryptocurrency law before the end of the year.
Why it matters: Congress has waited so long to act that, unlike the early days of the internet, the U.S. government is stuck with (pardon the overused policymaking cliché) fixing the airplane engine while flying.
The big picture: Generally everyone in government today is in agreement on one thing: However much existing laws and regulation may apply, the industry has regulatory gaps that need to be filled.
The history of how to fill them (i.e. cryptocurrency legislating) is still very much unfolding, and as of now can be divided into three eras: Studying, tinkering, and actually trying.
Social media accounts are or sale on dark marketplaces online.
A good Twitter account goes for $8, while a Tinder account goes for $18, at least according to one screenshot published by Chainalysis, the crypto surveillance firm.
Why it matters: Despite being super easy to recognize, "pig butchering" persists.
Catch up fast: Pig butchering is a scam where people get an unexpected text message from a stranger. They reply, and the scammer starts chatting in a friendly manner.
Then the scammer begins pushing them to "invest" in a cryptocurrency scheme. Only there is no investment. Funds deposited will never be seen again.
Economic forecasters are pretty accurate when they project where things are headed in the near term — but are overconfident in their ability to see around the corner to what the world will look like a year or two out.
Why it matters: This finding, from a New York Fed piece out Tuesday based on decades of professional forecasters' predictions, has philosophical implications for anyone who finds themselves needing to predict the future.
Even among the people paid to offer rigorous, methodical economic projections, it is easy to be overconfident by underestimating how much underlying conditions can change over long time periods.
U.S. authorities seized Venezuelan leader Nicolás Maduro's plane, which they say violated American sanctions, and brought it to Florida, the Department of Justice announced Monday.
The big picture: The plane was seized in the Dominican Republic because the DOJ alleges that it was "illegally purchased for $13 million through a shell company and smuggled out of the United States for use by Nicolás Maduro and his cronies," Attorney General Merrick Garland said in a statement.
