March 24, 2021

Day: March 24, 2021

Intern pay was meant to boost Congress’ diversity. Most of the money went to white kids

While paying interns is a start, the report argues they need to be paid more. The average intern pay was $1,986.75 in the Senate and $1,612.53 in the House, for stints that normally run five and seven weeks, respectively. Monthly rent for a barebones studio apartment in D.C. alone can run $1,600, leaving no money for other costs.

While the House has already increased the intern pay allotments to $25,000 per office and loosened some of the rules around how the money can be spent — allowing some of it to go to district office interns — Vera said more

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West Virginia Gov. Jim Justice touts plan to repeal personal income tax: ‘Opportunity beyond belief’

EXCLUSIVE: West Virginia Gov. Jim Justice is making the case for his proposal to repeal the personal income tax, telling FOX Business it is “an opportunity beyond belief” to transform the state and make all West Virginians “cash positive.”

Justice, in an exclusive interview with FOX Business, said the state has “poised itself from an economic standpoint and opportunity standpoint to go right to the elimination of our personal income tax.”



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Hong Kong Dashes Business Leaders’ Hopes for Looser Covid Rules

Photographer: Chan Long Hei/Bloomberg

Hong Kong’s government has dashed business leaders’ hopes for a near-term easing of the city’s Covid quarantine measures, signaling in a private meeting that any relaxation would require a dramatically higher vaccination rate and prolonged drop in local cases.

Policy makers led by Chief Secretary of Administration Matthew Cheung reiterated a target of vaccinating 50% of the population before any major loosening, according to a person who attended the virtual meeting

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Opinion | Another ghastly tale makes the point: Insurance companies need to stop insuring children’s lives

But what about the insurance companies that enabled the twisted plot, and the state officials who failed to see the danger? The conditions that allowed Ali F. Elmezayen, 45, to hatch such a terrible scheme — the loose standards and lax practices that make it so easy to buy life insurance on a child — still exist in most of the country, and that puts vulnerable lives at risk.

Mr. Elmezayen almost succeeded. From July 2012 to March 2013, he purchased more than $3 million of life and accidental death insurance on himself and his family. On April 9, 2015

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Swiss regulator tapped to lead German financial supervisor

BERLIN (AP) — Germany’s finance minister announced Monday that he has chosen the head of Switzerland’s market regulator, Mark Branson, to lead the troubled German financial supervisory authority, BaFin.

Finance Minister Olaf Scholz has vowed to reform and strengthen BaFin following an accounting scandal at payment systems provider Wirecard. The departure of Felix Hufeld, BaFin’s boss since 2015, was announced in late January.

Branson, a 52-year-old British-Swiss dual national, will take over at BaFin in the middle of this year, the finance ministry said in a statement.

“With him at the top, we want to continue the reform of BaFin

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I’m 73, single and work part time, should I put money into an IRA?

Q: I am 73 and single. Looking at my taxes for 2020, I think I can save a few bucks by putting money in an IRA. I don’t have a 401(k) or anything like that, and make some money working part time so if I understand it, I can make a deductible IRA contribution now. Is that true? Is that smart?

— Gene in Mobile

A.: Gene,

Working seniors, regardless of their age, have always been able to contribute to a Roth IRA if their income was within certain limits but if over age 70½, they could not contribute to

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