On the heels of President Trump's speech at the RNC from the White House, thousands descended on the capital today to commemorate the 57th anniversary of the March on Washington.
Derrick Johnson, president and CEO of the NAACP, said that in the midst of social unrest and senseless violence, the march is about emphasizing the importance of voting in this year's presidential election.
"We want to make sure that we use this moment to pause, to re-energize, to focus on marching to the polls in November," Johnson told Cheddar.
While many are expected to show up to the march in-person, organizers are also taking the event online for those unable to attend or who prefer to stay away from crowds amid the pandemic.
Meanwhile, as President Trump continues to wage a war against the mail-in voting process, Johnson and the NAACP are looking for the government to restore the "stripped" Voting Rights Act.
"In order for this democracy to truly work, we must allow access to the ballot box and unfortunately, we have reduced the administration of elections to a partisan consideration," Johnson said.
As the issue of policing in America hangs in the backdrop of the march's mission, Johnson said it is an issue that has to be addressed. When it comes to policies regarding policing, there has to be a process for accountability, he continued, stating that it's imperative other services receive the funding needed so that police are not required to serve functions for which they are not trained.
"We have to take a serious look at the budget of police to make sure we're not asking officers to serve the role of mental health providers; to serve the role of anything else other than policing," Johnson said.
For Johnson, it's all about leveling the playing field and making policing in the U.S. uniform across the country.
"Some of the wealthiest communities across this country see a really robust preventive program in place. Low income areas and areas where African Americans are being patrolled — we don't have enough preventive measures so things will not escalate as we've seen over the recent few months," he explained.
A new report from ProPublica and the Washington Post found that Facebook Groups played a major role in the spread of misinformation linked to the January 6 insurrection with more than 650,000 posts claiming that Joe Biden's election victory was illegitimate.
Millions of Americans with young children have relied on the child tax credit since the federal government began issuing checks in July 2021. The last round of payments was sent out just before the Christmas holiday — at the same time as the omicron variant surged. Leah Hamilton, associate professor of social work at Appalachian State University, joined Cheddar to discuss what the end to the tax credit means as the U.S. sees the end of many relief programs and its highest number of COVID cases since the start of the pandemic. "It'll become harder for families to meet their basic needs, increasing national childhood poverty rates and the proportion of families who have difficulty putting food on the table, maintaining stable housing, and paying their bills," Hamilton said. She also pointed to research that the credit as a long-term investment in children offsets claims that it contributes to macroeconomic impacts like inflation.
U.S. President Joe Biden spoke with Ukrainian President Volodymyr Zelensky over the week-end, just days after he spoke with Russian President Vladimir Putin. The call comes as Washington prepares to meet with Moscow on January 10, as tensions mount over Russia's military build up near its border with Ukraine. Cheddar News speaks with Mustafa Tameez, a former advisor to the U.S. Department of Homeland Security, about the issue.
Several Silicon Valley insiders are being accused of contorting a 1990s-era tax break to avoid taxes on millions of dollars of investment profits. The tax break is known as the qualified small business stock exemption, and it allows early investors in certain companies to avoid half of the taxes on up to $10 million in capital gains. A piece recently published in the New York Times says venture capital firms like Andreessen Horowitz replicated the tax exemption by giving shares of companies to friends and family, who would otherwise face a 23.8% capital gains bill. The CEO of Roblox is also accused of replicating the tax break for his family members at least 12 times. Although the loophole known as 'stacking' is considered to be legal, the Times piece implies that the exemption has been manipulated for the ultra-wealthy to become more wealthy. Greycroft co-founder and Chairman Emeritus Alan Patricof joins Cheddar News' Closing Bell to discuss.
Chris Sommerfeldt, City Hall reporter for the New York Daily News, joins Cheddar News' Closing Bell, where he discusses both the wins and losses of Bill de Blasio's eight years as New York City Mayor.
The push to regulate the gig worker economy is gaining steam as the share of workers who participate in freelancing through businesses like Uber and Lyft have also exponentially grown during the pandemic. Employment attorney Mark Kluger, founding partner at Kluger Healey, LLC, joined Cheddar to break down how the battle to reclassify gig workers will continue in the new year, and why the issue continues to generate conflict. "More and more workers are using gig work as their primary source of income and as a result of that they are not like employees in the sense that they don't have benefits like health insurance," Kluger noted.
2021 saw markets continue to be impacted by the onslaught of the coronavirus pandemic -most recently in the form of the Omicron variant- in addition to the global supply chain shortage, and increased inflation. But it wasn't all bad news, as crypto soared throughout the year, and meme stocks continued to have a moment. With the year coming to a close, investors are keeping an eye out to see if they should expect more of the same in the new year. Chris Vecchio, Senior Analyst, at DailyFX tells us what market trends to be on the watch for in 2022.
