🌞 Can Buy Me Love – May 26 2021

The Lead: BIden's Change of Heart

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The Biden administration will resort to buying metals from overseas to address the manufacturing shortage. The President has big plans for electric vehicle adoption and the country cannot meet them with the current supply chain. 

According to Reuters, this is “a blow to U.S. miners who had hoped Biden would rely primarily on domestically sourced metals, as his campaign had signaled last autumn, to help fulfill his ambitions for a less carbon-intensive economy.” 

The U.S. will have to source materials mostly from Canada, Australia and Brazil. Once the materials are mined, they can be processed in the U.S. 

The U.S. is also investing in recycling programs that will help plug the holes in the supply chain but those programs are years from adoption. 

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The Fix Is In

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Amazon has been sued by the Attorney General in the District of Columbia for antitrust price-fixing. 

The suit claims that Amazon forbids third-party sellers from offering lower prices on other Websites and charges the sellers up to 40% of each sale in fees, thereby allowing “Amazon to build and maintain monopoly power in violation of District law,” the suit claims. 

DC Attorney General Karl Racine is the first to file an antitrust suit but other state AGs have made similar complaints. The suit asks a court to prohibit these practices and break up the company if necessary. 

Amazon refutes these claims and says that Racine “has it exactly backwards.” The company claims that sellers set their own prices and this suit could result in higher prices for consumers. 

Rocket Man

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Are you an astronaut just because you ride a spaceship? This is a new debate and we have decided to ring in. 

The word “astronaut” comes from the Greek words for “star” and “sailor.” 

Jeff Bezos’ rocket company, Blue Origin, has begun selling seats on its crafts to the outer dimension. They call these ticket buyers “astronauts.” But does buying a seat on a spacecraft make you an astronaut? The word connotes someone with some accreditation in physics, aerodynamics, engineering, technology. Not someone who can just score a ticket. 

We say this is pretty simple. Airline passengers are not called pilots. Boat passengers are not captains. Space passengers are not astronauts. Astronauts are flight crew. Passengers can be called rocketmen. Or rocketperson. Sir Elton has spoken. 

News By The Numbers

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30 feet. That was the height of a man who got stuck in some power lines while trying to parachute from the sky. The fire department was able to safely rescue him. 

16 days. That is how long the average American thinks that they can survive in the wilderness, according to a recent survey. 

24%. That is how many people say that they don’t trust other people in an airport to tell the truth about their Covid vaccination. 

26. That is how many people were shot in New York City last weekend, up 100% from the same time last year. 

2. That is the age of the newest and youngest member of Mensa, the society that only accepts people with genius IQs. The little girl scored 146, which is 46 points above the average person. 

Today's Live Show

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Duh, Really? 

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Researchers have proven that winning the lottery will bring you lots of friends. File this away in your “No duh” folder. 

Scientists at a university in Vietnam studied the impact of people winning the lottery and suddenly having more “purchasing power.” They found that friendships started to increase when people came into some cash. 

They could even quantify how much money a person had to win to gain a new friend. The “revenue impact required to buy an additional friend is almost $5,000.” 

Tax Revenue is Growing Like a Weed

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Does legalizing marijuana do what it was intended to do for state budgets? A new report shows that it does. 

Research from the Marijuana Policy Project shows that states that legalized marijuana have brought in an additional $7.9 billion in tax revenue from the sale of “legal, adult-use marijuana sales” since 2014. 

“In addition to revenue generated for statewide budgets, cities and towns have also generated hundreds of thousands of dollars in new revenue from local adult-use cannabis taxes,” the report says. For instance, the city of Denver applies an additional 5.5% in local sales tax to cannabis and that has brought the city $210.6 million as of April of 2021. 

The research does not include “medical cannabis tax revenue, application and licensing fees paid by cannabis businesses, additional income taxes generated by workers in the cannabis industry, or corporate taxes paid to the federal government.” 

Not surprisingly, the pandemic boosted marijuana sales when more outlets began selling online.
 

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