Money

Seattle is repealing the proposed head tax it was going to fight homelessness with

Seattle is repealing the proposed head tax it was going to fight homelessness with

Just a month ago, Seattle proposed a tax on large companies making over $20 million per year — affecting around 585 businesses in the city and costing them $0.26 per hour, per employee. These businesses, including Amazon, Starbucks, Expedia and Alaska Airlines would pay the government a maximum of $500 for each person employed, per year, with 75 percent of the money going towards affordable housing and the rest aimed at helping the homeless. However, the proposal is now being repealed after the city faced pressure from numerous businesses to do so. The city leaders abandoning the head tax goes to show how powerful Amazon is in rallying opposition against taxes from all levels of government, even in a city with one of the highest homelessness rates in the US.

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Netflix is now worth more than media conglomerate Comcast

Netflix is now worth more than media conglomerate Comcast

When the company was founded more than 20 years ago, its biggest competitors were Blockbuster because the streaming service we know today did not exist. Instead, Netflix made money by renting out already-produced movies to consumers for relatively low rates. Today, the company has gone from delivering physical movies to becoming one of the largest purchasers and producers of TV series and movies in the world. Netflix will spend more than $8 billion on original content in 2018, up from the $6 billion it spent in 2017.

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MoviePass has customers, but now they need to make money

Last summer, MoviePass introduced a seemingly impossible-to-pass-up offer. For less than the price of a movie ticket (depending on where you're located), you can see one per calendar day in a movie theatre. The easy part for the team behind the service was getting people to sign up for it. Now they've got to make money off their customers, and we're finally learning how that'll all work.

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Minimum wage was never intended for people to live on

When a government tells businesses how much they must pay employees, it runs the risk of decreasing the amount of positions available or eliminating them altogether. Most businesses are comfortable with paying their employees a reasonable and accessible wage, but when the minimum gets hiked up, they tend to look at automating aspects of the workplace to eliminate human employees.

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