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How a Family of 3 Lives on $25,000 in Corona, Queens – The New York Times

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How a Family of 3 Lives on $25,000 in Corona, Queens – The New York Times

As an Uber driver in New York City, Anup Baniya works long hours behind the wheel of his S.U.V., navigating snarled traffic. The passengers he ferries across the city may be surprised to learn how little he earns. Mr. Baniya, an immigrant from Nepal, brings home roughly $25,000 each year after paying for his vehicle and other business expenses. His wife, Sonu Khadka, stays home with their 7-month-old son, Ivaan. There is little money left at the end of each week.

Every time taxes go up on the wealthy, conservatives say they will flee New York. 🌆

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But I can’t imagine there are many wealthy people who live in New York for the low taxes. I really can’t think of a single person I know who chooses to live in New York for the low taxes — wealthy or otherwise. People live in New York for the unique accommodations in New York City, or even the things available in Upstate New York.

Sure you can live in Kansas or Idaho and pay a ton less in taxes, and that’s really good if your a homesteader, or want to farm. If cows are your thing and don’t already own land or have local family connections, then great. But not so good if you want to go to five star restaurants, Broadway shows or all the the high-end accommodations only available in a major metropolitan region. If you relatives and business partners all live in New York, then your kind of screwed if you go anywhere else. And taxes are based on the number of days you spend in New York — so if your commuting in from other state or have a vacation home in New York — you’ll still pay.

So I think it’s kind of silly argument to be opposed to the wealthy paying a bit more, just so that we can provide a good education to students or healthcare to seniors.

Warren Buffett Says Avoiding Risk Could Be Your Biggest Mistake—Here’s Why

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Warren Buffett Says Avoiding Risk Could Be Your Biggest Mistake—Here’s Why

Market volatility tends to stress out investors. A down day for the Dow can induce anxiety, and a sudden rally can entice investors to chase stocks they don’t fully understand. But legendary investor Warren Buffett has long argued that trying to avoid risk altogether can be a mistake. Rather than fearing market swings, he sees them as opportunities—if you know what you’re doing.

“Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it,” Buffett has said.1

The logic of this statement becomes clear when you consider investor psychology. While many reflexively shy away when prices fall, Buffett leans in. He has spent his career capitalizing on what he often calls “folly”—when the market as a whole seems to get the value of an underlying business wrong.2 Buying such “mispriced” companies, as Buffett sees it, has been central to his long-term investing success.

Three Reasons the Stock Market Can Endure the War – WSJ

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Three Reasons the Stock Market Can Endure the War – WSJ

Pessimists have overused the image of Wile E. Coyote running off a cliff and not falling until after doing a double-take. If U.S. troops end up in another Middle East quagmire that drives oil to $200 a barrel, those who already sold their stocks will be in told-you-so mode as share prices follow the coyote to a hard landing.

So far, though, the fall is small given the scale of disruption. The S&P 500 is down 7.4% from its prewar high, only slightly more than falls over the same period in May 2019 or April 2018—neither at all memorable. Amid a global energy crisis that has already led to fuel rationing in some Asian countries, cautious Roadrunner fans see investor complacency.