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American Focus > Blog > Economy > My Weekly Reading for October 20, 2024
Economy

My Weekly Reading for October 20, 2024

Last updated: October 20, 2024 10:55 am
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My Weekly Reading for October 20, 2024
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Controversy in Kalispell, Montana: Homeless Shelter Permit Revoked

by Christian Britschgi, Reason, October 15, 2024

Excerpt:

In a surprising turn of events, the city council of Kalispell, Montana, made the unprecedented decision to revoke a permit granted to a local shelter that provided warmth and shelter to the homeless community during the harsh winter months.

City councilmembers justified their actions by blaming the privately funded Flathead Warming Center for attracting homeless individuals from outside the community, leading to an increase in crime and disorder in the neighborhood.

The Flathead Warming Center vehemently denies these allegations, claiming that the permit revocation was carried out unlawfully through an ad hoc process.

DRH comment: The incident raises questions about the role of government in regulating private shelters and addressing homelessness.

A Closer Look at America’s Criminal Justice System

by Clark Nelly, Cato at Liberty, October 15, 2024.

Contrary to popular belief, America’s criminal justice system is deeply flawed, with civil forfeiture often resembling legalized theft. The system’s perverse incentives, lax procedures, and lack of accountability contribute to widespread abuse. The notion of a “blue wall of silence” protects those involved in police misconduct more effectively than portrayed in fictional narratives like Rebel Ridge.

Underfunding and overworking public defenders also hinder access to justice, limiting the ability to provide adequate legal representation to defendants.

Rivian’s Struggles Amidst Government Subsidies

by Marc Joffe, Cato at Liberty, October 17, 2024.

Electric vehicle manufacturer Rivian faces challenges in manufacturing and profitability despite receiving substantial subsidy and tax credit packages from multiple states. The company’s financial viability is uncertain, raising concerns about the utilization of the incentives offered.

Rivian has received over $2.3 billion in incentive packages from four states since 2016, highlighting the company’s reliance on government support.

DRH comment: The case of Rivian underscores the complexities of government subsidies and their impact on businesses.

See also  The Dividend Growth Story of The TJX Companies (TJX) in Retail Dividend Stocks

Challenges Faced by Crowdfunding Platforms

by Rupa Subramanya, The Free Press, October 17, 2024.

Excerpt:

A crowdfunding platform founder, facing payment processing issues, encountered obstacles due to banking regulations. Despite efforts to clarify the platform’s charitable initiatives, banking partners made decisions that impacted operations.

Regulatory constraints and compliance requirements pose challenges for businesses like LaunchGood, impacting their ability to facilitate charitable donations effectively.

Reminder: Regulatory frameworks in the banking sector can have significant implications for businesses and charitable endeavors.

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