Harris Proposes Major Corporate Tax Hike

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BUSINESS & ECONOMY

📈 Kamala Harris Supports US Corporate Tax Hike to 28% 

Kamala Harris aims to raise the US corporate tax rate from 21% to 28% if elected, building on President Biden’s proposal. This increase contrasts with Donald Trump’s plan to cut the rate to 15%. Harris argues her plan ensures corporations pay their fair share, helping fund critical programs stating, “This plan will help us invest in critical programs and provide relief for the middle class.”

🔍 U.S. Worker Confidence Drops as Retirement Outlook Worsens

A record 4.4% of U.S. workers foresee unemployment within four months, up from 3.9% last year. The Federal Reserve Bank of New York reports that 28.4% are job-seeking, the highest since 2014. Nearly half expect to work past 62 and over a third beyond 67. Declining satisfaction with wages and benefits reflects a gloomy end-of-career outlook. 

🤝 U.S. & China to Collaborate During Economic Stress

U.S. and Chinese officials have pledged to enhance financial stability and communication during economic stress following their fifth Financial Working Group meeting in Shanghai. U.S. Treasury’s Brent Neiman and China’s Xuan Changneng focused on capital markets and cross-border payments, setting up key contacts for better coordination. Both sides found the discussions "pragmatic and constructive," despite ongoing trade issues. 

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WORLD

🌍 Overtourism Hits Hard This Summer as Destinations Get Flooded

Overtourism is causing chaos this summer as destinations like Sintra, Portugal, face overwhelming crowds due to record global tourism. Residents endure traffic jams, strained infrastructure, and disruptions to daily life. Sintra, along with other European hotspots like Venice and Barcelona, is grappling with the consequences, prompting calls for better management and measures to control the influx of tourists.

🕊️ Hamas Blames US for Delaying Gaza Ceasefire Talks 

Hamas has accused the US of "buying time for Israel" with its latest ceasefire proposal, demanding a definitive end to the Gaza conflict. They argue the revised terms fail to meet earlier conditions including a complete ceasefire, withdrawal of Israeli troops, and lifting of control over strategic areas. US Secretary of State Blinken views it as a crucial step towards peace but Hamas believes it neglects crucial issues. 

SCIENCE & TECH

📉 Apple’s 9th-Gen iPad Drops to Record Low of $199

Apple’s ninth-generation iPad hits an all-time low of $199, as newer models have led to discounts on this older version. Launched in 2021, it features a 10.2-inch Retina display, an A13 Bionic chip, and supports iPadOS 17. Despite its age, it remains a reliable option with a 12MP Center Stage camera and compatibility with the first-generation Apple Pencil and Smart Keyboard.

🚀 SpaceX's Bold Leap Aims for Interplanetary Future 

SpaceX is advancing its exploration goals with the Polaris Dawn mission reflecting Elon Musk's vision for an interplanetary future. The mission will send four astronauts three times farther than the ISS, featuring the first commercial spacewalk and testing new spacesuits. Mission commander Jared Isaacman stated, "This mission could inspire what we can achieve in space and beyond."

🚀 AMD Secures $4.9B Deal to Rival Nvidia in AI Infrastructure

AMD is set to purchase ZT Systems for $4.9 billion in cash and stock to strengthen its AI infrastructure and compete more aggressively with Nvidia. The deal, anticipated to be finalized in the first half of 2025, will merge ZT Systems into AMD’s data center division, bolstering the development and deployment of AMD's AI chips.

SPORTS & ENTERTAINMENT

🕊️ Phil Donahue, Host of "The Phil Donahue Show," Passes Away at 88

Phil Donahue, iconic daytime talk show host, passed away at 88 on August 18, 2024, after a long illness. He revolutionized daytime TV with "The Phil Donahue Show," addressing controversial issues and engaging live audiences. Donahue won 20 Emmys and set the stage for future talk show hosts. Oprah Winfrey noted, "If there had been no Phil Donahue show, there would be no Oprah Winfrey Show."

🏀 Jeff Bezos Eyeing Boston Celtics Acquisition

Jeff Bezos, Amazon's founder with a $200 billion fortune, is reportedly interested in buying the Boston Celtics. The team, currently seeking new ownership, is valued at a record $6 billion by the NBA, which aims to use the proceeds for future expansion. Bill Simmons of The Ringer highlights that Bezos sees the Celtics as a prime asset, describing them as “one of the league’s crown jewels.” 

OTHER NEWS

🌪️ British Tech Billionaire Mike Lynch Missing After Tornado Hits Yacht

Tech tycoon Mike Lynch, also known as the "British Bill Gates," is missing after his luxury yacht, Bayesian, sank off Sicily during a violent tornado. The storm hit early Monday, causing the vessel, owned by his wife Angela Bacares, to capsize. Lynch, recently cleared of fraud and worth $450 million, was aboard with sixteen others. Fifteen were rescued, and one body has been recovered so far. 

🗳️ Highlights from Opening Night of the Democratic National Convention

The Democratic National Convention opened in Chicago with President Biden endorsing Vice President Kamala Harris, calling her “the best decision” of his career. The night highlighted Democratic unity against Trump, a focus on abortion rights, and minimal discussion on the Israel-Gaza conflict. Hillary Clinton championed Harris, emphasizing the historic chance to break the “glass ceiling.” and stated, “The future is here. Let’s go win it.” 

🚨 House GOP Report: Biden Accused of Impeachable Conduct and Defrauding U.S. for Family Gain

Biden is accused by House Republicans of impeachable conduct, including abusing his vice-presidential office to enrich his family. Their 292-page report alleges he facilitated over $27 million in foreign payments and leveraged his position for financial gains. Republicans claim this warrants impeachment, while the White House calls it a failed stunt stating, “The totality of the corrupt conduct is egregious.”

THIS DAY THAT YEAR

On August 20th, 1920, a pivotal moment in sports history occurred when the National Football League (originally known as the American Professional Football Conference) was established at a meeting in Canton, Ohio. This landmark event laid the foundation for what would become one of the most popular and influential professional sports leagues in the world.

BRAIN TEASER

Always in you, Sometimes on you; If I surround you, I can kill you. What am I? 

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Here’s what Yesterday’s teaser was:

How do you make the number 7 even without addition, subtraction, multiplication, or division?

The answer is: Drop the "S" and "seven" becomes "even".

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