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The Finance 202: Joe Biden’s tax plan would barely dent growth, conservative group finds

The Finance 202: Joe Biden’s tax plan would barely dent growth, conservative group finds

The analysis concludes Biden’s plan would raise $2.8 trillion over the next decade from higher taxes on businesses, corporations and the wealthiest households. Over that time, AEI projects the higher taxes would reduce economic growth by a relatively modest 0.16 percent.

The plan would “make the tax code more progressive,” AEI’s Kyle Pomerlau and Grant Seiter write. And after slightly crimping growth in its first decade, it would “reduce debt-to-GDP in the second decade, leading to slightly higher GDP. However, in the long term, his plan would not raise enough to stabilize debt-to-GDP and would lead to a 0.18 percent smaller economy.”

The macroeconomic drag the AEI model anticipates roughly aligns with other analyses from the Tax Foundation and the Penn Wharton Budget Model, Pomerlau notes. In other words, rolling back most of the Trump tax cuts wouldn’t bring about the economic Armageddon the Trump campaign has depicted.

Neither would it jack up taxes on every American. 

Vice President Pence made that claim during his debate with Sen. Kamala Harris (D-Calif.),  Biden’s running mate, last week. The AEI analysis finds the top 1 percent of taxpayers would see a 14.2 percent hit to their after-tax income next year. The rest of the top 5 percent would face a small uptick in their burden. But everyone else would receive an after-tax income bump. The largest such increase, of 11.3 percent, would go to the bottom 10 percent, thanks to a temporary expansion of the child tax credit, according to AEI.

The analysis finds that starting in 2030, the Biden plan would impose “modest” tax hikes on the bottom 95 percent of earners, which it attributes to higher taxes on businesses. That would appear to violate Biden’s pledge not to raise taxes on anyone earning less than $400,000

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Fuss-free Home Protection Plan With Extras

Fuss-free Home Protection Plan With Extras

Simple and elegant plan that’s likely to appeal to first-time homeowners or renters. 

Home protection insurance can be complicated, what with different claims limits and categories of claims. 

It can be easy to sign up for a plan with a face cover value in the millions, yet have insufficient cover for professional fees – for instance, by surveyors or architects hired to reinstate your building.

Etiqa Tiq Home Insurance offers a simple way to ensure sufficient cover for your valuables, debris disposal and professional fees, by setting them at a percentage of your sums insured. 

This results in a fuss-free policy that only requires you to choose your sums insured for contents and renovation. 

Let’s have a closer look at Etiqa Tiq Home Insurance. 

Pros and cons of Etiqa Tiq Home Insurance

Pros Cons
Easy-to-navigate plan with comprehensive cover Emergency cash allowance may be reduced according to the state of your premises
Sums insured tailored to typical needs, useful guide for new homeowners Emergency home assistance only included for plans 3 years or more
Base plan includes useful cover like emergency cash, ATM fraud, conservancy charges and more Maximum claim of $200 per piece for works of art, paintings, fine glassware and crystal, tapestries, antiques and other collectibles
Competitively priced and affordable

Key features of Etiqa Tiq Home Insurance

#1: Easy to navigate and understand

Etiqa Tiq Home Insurance is designed to help homeowners and tenants get adequate home insurance cover without tripping over the details. For example, cover for debris disposal and professional fees are tagged at 10% of sum insured for renovation and/or building, instead of a fixed amount which may prove to be insufficient. 

Similarly, cover for personal valuables is tagged at 30% of the sum insured for contents insurance. However, there’s a deductible of the first

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Rutgers football roster analysis: Impact of Mike Lonsdorf’s opt-out, Peyton Powell plan emerges, more

Rutgers football roster analysis: Impact of Mike Lonsdorf’s opt-out, Peyton Powell plan emerges, more

The longer Rutgers went without a roster, the more speculation grew about what it would look like when it was revealed. Or more specifically, who would – and would not – be on it.

The hype and suspense ended Monday when the Scarlet Knights finally released the thing, 10 months after Greg Schiano returned to the program for his second stint as head coach. And, to the relief of Rutgers fans, it was largely anticlimactic.

There was a surprise addition with the unexpected return of Elorm Lumor, but Schiano did not sneak another star transfer or two onto the roster. There were names missing – offensive lineman Mike Lonsdorf the biggest one – but all indications are Schiano was able to sway most of the other players who may have initially opted out back into the fold.

The roster looked like about what we expected. It just took a very long time for confirmation.

Here is a closer look at what we learned after the Scarlet Curtain was lifted:

Lonsdorf is the most impactful opt-out. Rutgers was not hit hard by opt-outs due to the novel coronavirus on the whole, but the Scarlet Knights did not go unscathed. Lonsdorf is a smart, versatile player with 12 starts under his belt at guard and tackle over the last two seasons. He was slotted as the starting left guard on most projected depth charts this summer and would have been the first guy off the bench at worst.

Between Lonsdorf’s opt-out and the absence of backup center Owen Bowles – it is not clear if he is an opt-out or simply moved on – the Scarlet Knights are extremely thin at the interior line spots. They may have no choice but to play true freshmen Tunde Fatukasi and Bryan Felter this fall.

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India Unveils $6.6 Billion Plan to Boost Consumer Demand

India Unveils $6.6 Billion Plan to Boost Consumer Demand

(Bloomberg) — India announced measures worth $6.6 billion to stimulate consumer demand and investment in the economy damaged by the coronavirus pandemic.



a group of people walking down a dirt road: Workers talk on mobile phones at a road construction site in Bhopal District, Madhya Pradesh, India, on Tuesday, Nov. 20, 2018. Key Indian states are voting in polls that may be a preview of next year's national election, with Prime Minister Narendra Modi trumpeting populist welfare schemes to retain power while the opposition works to build alliances that can oust the ruling party.


© Bloomberg
Workers talk on mobile phones at a road construction site in Bhopal District, Madhya Pradesh, India, on Tuesday, Nov. 20, 2018. Key Indian states are voting in polls that may be a preview of next year’s national election, with Prime Minister Narendra Modi trumpeting populist welfare schemes to retain power while the opposition works to build alliances that can oust the ruling party.

As much as 116 billion rupees ($1.6 billion) would be paid as allowances and advances to federal government employees with the condition they spend on non-essential goods before March 31, Finance Minister Nirmala Sitharaman told reporters in New Delhi on Monday. States would separately be eligible to get 120 billion rupees in 50-year interest-free loans for capital expenditure, she said.

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In addition, the federal government will set aside 250 billion rupees toward capital expenditure on roads, defense infrastructure, water supply and urban development, Sitharaman said.

Sitharaman expects the measures to, either directly or indirectly, create demand of more than 1 trillion rupees in the economy, where consumption makes up about 60% of gross domestic product. The steps mark the latest effort by the government to shore up the economy headed for its worst contraction this financial year, after a 21 trillion-rupee package announced in May fell short of providing the desired support.

Read: Indian Consumers Brace for High Inflation as They Curb Spending

“Measures by the government to stimulate demand must not burden the common citizen with future inflation,” Sitharaman said. “We also kept it in mind that it must not put government debt on an unsustainable path. Today’s solution must not cause tomorrow’s problem.”

Nevertheless, they are bound to add

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InMed Pharmaceuticals Finalizes Uplisting / IPO Plan

InMed Pharmaceuticals Finalizes Uplisting / IPO Plan

InMed Pharmaceuticals (INM) has filed to raise $10 million from the sale of common stock and warrants in an uplisting / Nasdaq IPO, according to an amended registration statement.

Vancouver, Canada-based InMed was founded to advance drug programs for epidermolysis bullosa [EB], a skin condition that results in layers of skin not sticking to each other and for glaucoma, an eye condition that damages the optic nerve.

Management is headed by president and Chief Executive Officer Eric Adams, who has been with the firm since 2016 and was previously CEO at EnGene and held senior roles at QLT.

Below is a brief overview video of InMed’s recent announcement for treating EB:

Source: Business Television

The firm’s lead candidate is INM-755, a cannabinoid-based treatment candidate for epidermolysis bullosa.

The drug is current in Phase 1 safety trials and management expects it to advance to Phase 1/2 efficacy trials in 2021.

The company’s second candidate is INM-088, a cannabinoid treatment for glaucoma and management expects it to enter Phase 1 safety trials in 2021.

Below is the current status of the company’s drug development pipeline:

inmedpipe2

Source: Company S-1 Filing

Investors in the firm have invested at least $70 million.

According to a 2019 market research report by Technavio, the global market for epidermolysis bullosa is expected to grow by nearly $305 million from 2019 to 2023.

This represents a forecast CAGR (Compound Annual Growth Rate) of almost 5% from 2019 to 2023, as shown in the chart below:

inmedmkt

Key elements driving this expected growth are increasing development of treatment options by pharmaceutical firms such as diacerein ointment.

Also, North America accounted for the highest demand in 2018, although higher growth rates can be found in other global regions.

Major competitive vendors that provide or are developing treatments include:

  • Amyrt Pharma
  • Fresenius
  • Johnson
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