These are the headlines you Need 2 Know. * **Wildfires Latest:** The Camp Fire is not even halfway done burning, according to California forestry officials. They’re predicting the deadliest fire in the state’s history will be contained by Nov. 30. The blaze has killed at least 77, and the list of missing continues to fluctuate wildly, with 993 still unaccounted for as of the last update. Read more [here](https://www.cbsnews.com/live-news/fires-in-california-camp-woolsey-paradise-wildfire-evacuations-death-toll-map-2018-11-18-latest/). * **POTUS Visit:** President Trump toured the remnants of Paradise, the town destroyed by the Camp Fire, offering conciliatory words and a promise to aid the state’s recovery. Citing a conversation he said he had with the president of Finland, Trump said he believed the fires could have been prevented by “raking and cleaning” the forest floor. The Finnish president later said he didn't remember making that comment, and that raking is not a forest management practice in his country. Read more [here](https://www.bbc.com/news/world-europe-46256296). * **President’s Weekend:** President Trump stirred controversy across several other fronts over the weekend. He dismissed former Adm. William McRaven, the commander of the Osama bin Laden raid, as a political hack and asked why it took so long for the military to kill the terrorist leader. Later, he referred in a tweet to Rep. Adam Schiff, the incoming chair of the House Intelligence Committee as Adam “Schitt.” Schiff responded: "Was that like your answers to Mr. Mueller’s questions, or did you write this one yourself?” Read more [here](https://www.cnn.com/2018/11/19/politics/trump-combative-weekend-rocky-road/index.html). * **Race Concessions** The three big races that were still too close to call have been settled, and Democrats lost all of them. In Georgia, Brian Kemp was elected governor. His opponent, Stacey Abrams acknowledged that she lost, but would not concede the race in a fiery speech to supporters. In Florida, Andrew Gillum conceded to Ron DeSantis in the governor’s race, and Sen. Bill Nelson conceded to Rick Scott in that state’s senate race. Read more [here](https://www.vox.com/2018/11/18/18101525/outstanding-midterms-concessions-gillum-nelson-abrams-mia-love) * **Khashoggi Killing:** President Trump said he has not listened to the tape that the intelligence community believes shows evidence that Saudi Crown Prince Mohammed bin Salman was behind the murder of Jamal Khashoggi. Meanwhile, the State Dept. is pushing back that there has been a final determination of who is responsible for the grisly killing, though the CIA reportedly has concluded that it was a premeditated assassination on the order of the prince. Read more [here](https://www.foxnews.com/politics/trump-says-i-dont-want-to-hear-the-tape-of-purported-khashoggi-killing). * **Missing Picasso:** A painting by Pablo Picasso that was stolen in 2012 may have been found. Two Dutch citizens showed up at the Netherlands Embassy in Bucharest with the purported painting, saying it had been found in Romania. The painting was one of seven stolen. Others still missing were by Matisse, Monet, and Gauguin. Read more [here](https://www.reuters.com/article/us-romania-art-heist/stolen-picasso-resurfaces-in-romania-six-years-later-idUSKCN1NN0IY). * **University Gift:** Michael Bloomberg says he will donate $1.8 billion to Johns Hopkins University, his alma mater, to be used exclusively for providing financial aid to low- and middle-income students. It is said to be the largest private donation to a college in history. In an op-ed announcing the gift, Bloomberg says the school will be able to replace loans with scholarships in many cases and become “forever need-blind.” Read it [here](https://www.nytimes.com/2018/11/18/opinion/bloomberg-college-donation-financial-aid.html?action=click&module=Opinion&pgtype=Homepage). * **Coach Condi?:** Former Secretary of State Condoleezza Rice says she hopes the NFL will bring women into the coaching profession, “as position coaches and eventually coordinators and head coaches.” Rice’s remarks followed an ESPN report that claimed the Cleveland Browns wanted to interview her for the team’s next head coach position. The Browns say Rice “has not been discussed” as a candidate and Rice, in a Facebook post, says she’s not ready to coach. See the post [here](https://www.facebook.com/condoleezzarice/posts/2160868690591977). * **Spotted:** Former President Barack Obama surprising wife Michelle with flowers during a stop on her book tour in Washington D.C. Obama joked it was like “when Jay-Z comes out during the Beyonce concert.” See it [here](https://www.cnn.com/2018/11/18/politics/obama-michelle-book-tour-jay-z/index.html). * **RBG Rap:** Kate McKinnon paid homage to Supreme Court Justice Ruth Bader Ginsburg in a rap on this weekend’s SNL. The lyrics included the line “Live Ginsburg, and I ride for Ginsburg.” See it [here](https://www.youtube.com/watch?v=e6e_rGWbFqs&feature=youtu.be). * **Major Biden:** The Biden family has a new member: a German Shepherd rescue named Major. The Bidens adopted Major from the Delaware Humane Society. Major joins the Bidens’ other German Shepherd, Champ. See the photos [here](https://www.facebook.com/62847541152/posts/10156660116626153/).

Share:
More In Politics
End of Child Tax Credit Could Mean Slide Back Into Increasing Child Poverty
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.
President Biden Speaks with Ukrainian President Ahead of Russia Meeting
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.
NYT Piece Claims Silicon Valley Investors and Founders Contorted Legal Tax Break to Avoid Taxes on Investment Profits
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.
This Year In Trivia
Hena Doba and Azia Celestino recap some of the biggest stories of the year, and learn a thing or two while they're at it. It's This Year in Trivia!
Looking Ahead to Regulating Uber, Lyft, and the Gig Economy in 2022
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.
2022 Promises a Mixed Bag of Market Predictions
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.
Load More