Lone Candle
Champion of Truth
“Meta laying off 11,000 people and Goldman Sachs 3,200 sounds like a lot. But when you put it in context, it’s quite tiny — there are some 165 million people in the workforce. It’s also important to keep in mind when looking at websites like layoffs.fyi, which tracks tech sector layoffs, that in the grand scheme of things, some of these totals are not that much.”
https://www.vox.com/the-goods/23569504/ticketmaster-monopoly-live-nation-taylor-swift-antitrust-clyde-lawrence
“The answer to why companies make it hard or impossible for people to call them is simple: It saves them money. It’s more expensive to hire a person in a call center — assuming they can find people who want to work there — than it is to engineer some chatbot that offers up canned answers on a website. The result is sort of a sliding scale of cost-saving terribleness.
“There’s a straight-up clear hierarchy,” Buell said. “The cost to talk to a live person face-to-face is always going to be greater than the cost to talk to a live person on the phone, which is going to be greater than the cost to talk to a live person over chat, which is going to be greater than the cost to talk to some kind of automated solution. In the middle there is also email, and chat is more expensive than email, which is more expensive than non-human.””
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“Even if companies do have options to call, they’re often ineffective and have a ton of automated options before you get to a real person, if you ever do. “You have to go through all the menus, you say, ‘I want to talk with a person,’ you have to wait for an hour,” Hu said. “Even though they have the call option, it’s almost like no call at all.””
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“Talking to customers about their products and services may lead businesses to discover deficiencies they might not otherwise notice. This allows them to improve their offerings so that, in the long run, they build something better — and ultimately field fewer complaints.”
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“recently found herself on the “holy hell” end of the customer service frustration experience. She couldn’t get the electricity turned on in her new house because her credit was frozen, and the credit bureau she needed to reach out to to have it unfrozen had shuttered its call center. She had to send copies of her driver’s license and Social Security card to a random post office box in Texas. She ultimately waited months for her credit to be unfrozen and her lights to be turned on.”
“It’s certainly true Canada has some of the most unaffordable housing prices in the developed world. Average home prices are ten times average incomes. Compare that to the U.S., where median home prices are 4.3 times median incomes, per National Association of Realtors’ data. OECD figures show that Canadian home prices have grown 43 percent faster than incomes since 2015.
And as homes have gotten more expensive, foreign homebuyers have become an increasingly popular scapegoat.”
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“foreign buyers make up only 5 percent of homeowners in the country. Squeezing out such a marginal part of the market probably won’t have a huge effect on prices.
Foreign buyers made up around 4 percent of New Zealand’s housing market when the country implemented a ban on nonnative buyers in 2018. Home price growth continued unabated after the ban.
A heavy tax on foreign home purchases in British Columbia has managed to reduce “foreign-related” purchases from 10 percent of all sales to between 1 to 2 percent. One study of the policy showed it reduced home price growth by 1 percent, and that minimal benefit faded after a few months.
Such are the pitfalls of trying to marginally curb demand in a hot market without enough supply. Behind every eliminated foreign buyer are multiple domestic home purchasers competing over an insufficient stock of homes.
Canada’s national housing finance agency estimates the country will be short some 3.5 million homes by the end of the decade. That’s within spitting distance of the U.S.’s own estimated shortage of 4 million homes—a country with nearly ten times Canada’s population.
The country has all the limits on supply that the U.S. does, including density restrictions in the urban core and growth boundaries on the exurban fringe. Both prevent new housing from being built to meet demand. As a result, prices in the country stay stubbornly high.
Canada’s local and provincial governments are starting to address this problem with proposals to loosen zoning restrictions. Done right, that will unleash developers’ ability to add much-needed supply.
At the federal level, it appears more politically practical to run with unproductive bans and to scapegoat foreigners.”
“As part of the new rules package approved by House Republicans this week, the Congressional Budget Office (CBO) and Joint Committee on Taxation (JCT) will now be required to score legislation on projected macroeconomic effects—including inflation.
That’s a welcome change that will provide more information to lawmakers and the general public about the impact of spending bills.”
“The FTC announced..that it proposed a rule that would ban the practice of forcing workers to sign noncompete clauses, which forbid employees from working for their employer’s competitors for a certain amount of time after they leave.
“The freedom to change jobs is core to economic liberty and to a competitive, thriving economy,” Khan said in a statement. “Noncompetes block workers from freely switching jobs, depriving them of higher wages and better working conditions, and depriving businesses of a talent pool that they need to build and expand. By ending this practice, the FTC’s proposed rule would promote greater dynamism, innovation, and healthy competition.”
If enacted, the proposed rule would give Americans more choice in where they work and, by extension, higher pay. They could more easily work for rival companies or start their own companies with less fear of being sued. Such mobility could make what’s already a tight hiring economy even tighter, as workers have even more options of which open jobs they can take.”
How could changing capital gains taxes more revenue? Grace Enda and William G. Gale. 2020 1 14. Brookings. The rich benefit as Democrats retreat from tax on unrealized capital gains Greg Iacurci. CNBC. 2021 12 29. https://www.cnbc.com/2021/12/29/the-rich-benefit-as-democrats-forgo-tax-on-unrealized-capital-gains.html The Many Problems With Taxing