Showing posts with label complex financial things. Show all posts
Showing posts with label complex financial things. Show all posts

Tuesday, April 6, 2010

Thank you for Pot Smoking

I used to kind of roll my eyes at the “Legalize It” rastas and hippies. I viewed legalizing marijuana as a self-severing “never going to happen” non-political issue. But over the last couple of years I’ve learned more about why this maybe the single more obvious (and bipartisan) issue that if passed could have some of the largest and most wide spread effects.

The medical benefits: while there are lots of jokes about stoners faking glaucoma to get high, there are legit medical benefits to pot and 14 states have legalized medical marijuana, approved to treat a (yes a little suspiciously) long list of ailments including anorexia (it gives you the munchies), anxiety (it mellows you out) and even recently (albeit a little controversy) for ADD in kids. Yet this is an illegal drug. What would legal highs like booze or cigarettes ever be used to treat? Nothing, because they are actually harmful to health, yet still legal because the government has realized the tax potential. The other perhaps more compelling medical benefit of legalized pot is that it would loosen our growing dependence on pharmaceuticals. Legal pot would be cheaper and less toxic than pharmaceutical drugs, and would mean less pharmaceutical waste and residue in water and soil (good for the environment and for every living thing).

The fiscal benefit: I don’t know if you’ve noticed or not, but in the midst of the recession and huge state budget deficits, lawmakers have been looking high and low for things to tax (sugary drinks while misguided was one of the more logical suggestions). In California, where legal (non medical) pot is on the ballot for November, State-run studies have found that taxes on marijuana could raise as much as $1.4 billion in annual revenue (much needed in a state with a failing economy like CA’s). Legalizing pot and regulating it’s production, and taxing it like cigarettes and booze would not only bring new revenue streams (much larger than proposed taxes on other lifestyle choices or vices), but would save billions in arrests, court costs, and jailing minor "criminals" for pot possession and sales.

We spend $68 billion per year on corrections, and one-third of those being corrected are serving time for nonviolent drug crimes. We spend about $150 billion on policing and courts, and 47.5% of all drug arrests are marijuana-related. Cutting those criminals out of the system and giving them legit “green” jobs would not only save billions in the legal system, but help eliminate deadly drug wars with countries like Mexico. You want to help build American jobs? Why not pot farmers (unlike corn, it’s a crop that can be grown in even small urban spaces) or sellers (like the “coffee” shops in Amsterdam).

Why it’s not a liberal issue: As a political issue legal pot is not at all a liberal one, California voters don’t have a recent history of liberal voting (we all know they voted against gay marriage and elected a republican governor). The Netherlands, famous of their tulips, and legal pot and prostitution, has a very conservative government.

As for fears about a dangerous high nation of stoned kids and soccer moms, if the content of weed is monitored in the same way the content of other substances are and the laws in place are similar to the laws around alcohol consumption (age restrictions, intoxication limits and repercussions) then there is no longer an issue, so chill dude.

Now that Bees are legal (L magazine)

14 States with Legal Medical Marijuana

Why Legalizing Marijuana Makes Sense (Time magazine)

Marijuana on the CA Ballot


Tuesday, February 9, 2010

Giving more than Oprah

It was a big to-do in the news today that Bloomberg was the fourth biggest charitable contributor in 2009. Call me cynical, but my first thought was, “nice PR” and my second “yeah but I bet the amount wouldn’t be as impressive if you compared it to how much he has.”


So like any good unemployed journalist, I set about finding the answers. Here, the 10 richest people in America and what they gave last year.

Who Net worth What they gave % of their income

1. Bill Gates net worth: $50,000,000,000 gave: $350,000,000 which is: 0.7%

2. Warren Buffett net worth: $40,000,000,000 (not on Philanthropy’s top 50)

3. Lawrence Ellison net worth: $27,000,000,000 gave: $46,907, 838 which is: 0.1%

4. Christy Walton net worth: $21,500,000,000 (no one in the Walton Family was in top 50)

5. Jim C Walton net worth: $19,600,000,000

6. Alice Walton net worth:$19,300,000,000

7. S. Robson Walton net worth: $19,600,000,000

8. Michael Bloomberg net worth: $17,500,000,000 gave: $254,000,000 which is:1.4%

9. Charles Koch net worth: $16,000,000,000 (both Koch’s were not in the top 50)

10. David Koch net worth: $16,000,000,000

So of the 10 richest people in America, only three are among the 50 biggest charity contributors. And of those Bloomberg is the highest at 1.4%, the other two give a generous less than one percent.

Which isn’t to belittle the important work and lives saved the their millions helps fund, I just wonder if we’d be doing so much ooo-ing and ahh-ing and back patting at a person of lesser means contributing 0.1% to charity.

Let’s put it in perspective shall we?

Net worth is simply assets vs. debts, so it doesn’t take into account how much you made that year. So say a person has a net worth of $75,000 (most of us should be so lucky), to be on par with the Bill and Melinda Gates (leaders in philanthropic giving), you would only have had to give $525 to charity last year. A nice gesture sure, but nothing worthy of a press release.

Put another way, Oprah Winfrey, a person synonymous with good will, is 141 on rich list, with a net worth of $2,300,000,000, meanwhile she’s an impressive #25 on the charity list, giving $41,404,281—that’s still only giving 1.8% of her money. Meanwhile, I’ll estimate my net worth at $20,000, and I spent $900 on charitable giving last year. That’s 4.5% of my net worth on charitable giving. Bam! I’m more generous the Oprah!

The Philanthropy 50

The 400 Richest Americans

I’d also like to note one more reason why Wal-Mart is evil. Notice top richies 4-7, all members of the Walton family and all nowhere to be found on the Philanthropy 50.



Friday, November 6, 2009

Working Harder, Not Smarter


I don't own a home to lose, I don't have a family to feed, my story isn't that sob worthy by any means. I realize this. But what it is, is demoralizing.

I lost my job, and so I started working exceedingly hard to find a new one. I've said yes to every journalistic freelance opportunity (even going so far as to try to write a press release in exchange for a haircut). And unlike many, I've been lucky to end up with assignments that will ultimately help my portfolio and perhaps someday advance my career. But as many will attest, the road of a freelancer isn't smooth, and often not well paid. Freelancing involves A LOT of hustling, and things I've never been that comfortable with like networking, being relentless in keeping yourself in someone's mind, and endless pitching ideas, most of the time with no results.

If you are lucky enough to get an assignment there's still the chance that you'll do all the work and then it will be "not exactly what they were looking for" in which case you have to go through sometimes so much editing and re-writing that it will be like doing a second article. Other times they won't use it. If you're lucky you signed a contract with a kill fee that makes all that work still somewhat worth your time.

The other piece to freelancing is the "free" aspect. As in working for. When you write a piece either for print or the web, you typically either sign a contract (with varying degrees of giving up your rights to the work you are producing for them), send an invoice for the agreed amount, or both. Sometimes there are tax forms involved. It's all very official seeming. What never seems to be official is the when you will paid. Which is why making a living as a freelancer can sometimes be next to impossible unless you have a million different gigs going at once, or a job on the side.

I've personally never been completely stiffed (yet), but I have waited over two months for a check from an assignment, and have dealt with freelancers who have waited six months or more. Gawker did a list twice of Print's Worst Late Payment Offenders (find that here and here). Some freelancers they talked to haven't been paid in 2 YEARS!

This in two words is fucked up. A freelancer can't afford to take a publication to court over a few hundred dollars, and many don't want to burn bridges in such a competitive everyone-knows-everyone industry. The publications know this, or more likely don't care. Freelancers are of course a dime a dozen.

So here's how it's been for me: I'm currently working as a freelancer for various publications in what amounts to well over 40 hours a week, in addition, I'm still looking and applying for full time work, and I'm in the middle of applying to Grad School.

I am currently making $40 a week more than I did when I was collecting unemployment. I have no benefits. When work stops for the holidays I won’t be able to collect either. When I have my wisdom tooth removed in a month, not only will I lose money by not working (the result of no sick time) but since the health insurance that I pay out of pocket for every month doesn't cover the full procedure, I will owe more than I make in two weeks of work. And I'm lucky. I'm working. I'm single, I can afford life’s necessities, I don’t have chronic or serious medical problems, and I am not unskilled. Things are a lot worse for a lot of people in America right now.

But that doesn’t mean it’s not horribly horribly flawed. Work should be rewarded with a living wage, and medical issues like an exposed sinus from an extracted wisdom tooth should be considered an essential and covered expense.

Just saying.

Friday, September 4, 2009

What I learned during my time as a magazine editor

According to the Bureau of Labor Statistics, as of July 2009, the unemployment rate in the U.S. is 9.4%. (14.5 million people) Of that, almost tens of thousands of print journalists have found themselves out of work in 2009; well…add one more to that number.

In light of all this, it is of course it’s spectacular thing that I was laid off on last month. To me however, it is. I’m now competing for work with more talented and experienced journalists than the population of the town I grew up in, in what is probably the absolute worst time to be an unemployed print journalist.

Losing a job you love is like a bad break up. Except I was at this job longer than I’ve ever managed to hold onto any boyfriend I’ve had, and unlike after a break-up I can’t just swear off working for awhile.

Much like a relationship gone sour however, I’m looking for a lesson to be learned from all this. Is it, as so many are prone to say, a blessing in disguise? Should I serve as a cautionary tale for hopeful young journalism students? I worked extremely hard to get where I was, and worked extremely hard while I was there, to the praise of my bosses and co-workers. So what is this other than another unremarkable sob story? What did I learn during my nearly three years as a magazine editor?

1) I 1)It’s at all not as glamorous as TV and movies make it out to be, and that’s a good thing. And newsflash, living in NYC is nothing like Sex in the City or Friends. Maybe it is for some people, and it can have glamorous moments, sure. The swag is nice, press conferences and events can range from fun to unbearable. There’s a lot of smoozing and contact/relationship building, but really it’s not that much different from a million other offices. And really at the end of the day, I wouldn't want to work in an enviorment of impossible standards, lies, and snobery.

2) 2)Despite it all I refuse to believe that print dead or dying. Just like a tween, it’s in an awkward in-between phase. It’s not news that print media has been woefully behind on getting online, and still very few are doing it well. But they will, they have to, and even though a lot of magazines are folding their print publications and going online only, I don’t think people are ever going to stop reading things on paper.

3) 3)I don’t want to work in PR. Not that I ever thought I did, but man does the job suck. It’s like asking someone on a date and they keep saying no, but you have to keep asking. And the person you are asking out keeps wanting free stuff. That and I've never been able to just bestow the virutes of a product while overlooking its fallacies.

4) 4)Freelancing is harder than working full time. Now that trying my hand at freelancing more seriously than I ever had before I’m realizing how much effort it takes, writing, pitching, and still getting turned down (and most of the time it doesn't pay as well as having a full time job). As with almost everything it seems a lot more who you know rather what you know. As a magazine editor I know how many random pitches publications receive and how many they reject, sometimes with any acknowledgement. That and you never know when you’ll see the check once you do get work.

So I’ve been out of a job for a month now (for the first time in my life) and I’ve learned that it’s a bigger blow than I would have expected. And I’ve learned that I have to do all the things I’ve always hated: networking, asking for help and favors, shameless self promotion. I’ve yet to sleep in on a weekday, I’ve been working harder than I was when I had a full time job, but I’ve been also been taking one day a week to enjoy life, go to museums, parks, not be in my apartment in front of my laptop all the time. I’m not doing as poorly as I thought I would.

So what’s next? I’m really not sure, I know I’m not ready to give up on this print journalism thing. I know, at least I should start blogging more and maybe make this thing more cohesive. So there’s that upswing….

Friday, October 17, 2008

Career Moves

Perhaps I should chalk it up to the recession. The guy who cuts my hair must have been working extra hard for his tip last night. Whilst telling me he liked the cut I had chosen, he asked me (with a totally convincing straight face!) if I’d ever considered becoming a hair model.

Well, now I am!

This is perhaps the funniest thing someone’s said to me the past few months. Is hair model an actual career ambition that people have? Is there a special hair-modeling agency? I might be too short for Tyra Banks’ modeling show, but perhaps I’ve found a way to pick up some money on the side..

(for your consideration...)

If you can’t afford it…don’t buy it.

It’s hilarious how totally out of touch magazines can be. Like all of these articles about how to save money in the recession.

Step 1: Buy less stuff
Step 2: Still broke? Buy cheaper stuff
Step 3: Still broke? Stop buying stuff
Step 4: No really, when you don’t have money for things, you shouldn’t carry on buying them. And if going out is too expensive, you should stay in.

Sure there are some very stupid rich people, but are any this clueless? These articles condescend so much to assume that there are people in ‘merica unaware of the existence of Wal-mart and Goodwill… Still if you think that advice to buy both an old $9 Gap sweater from Salvation Army, and a $400 cashmere blanket keep you warm and cozy while watching your stocks fall, then, yeah…maybe you need to be condescended to...

Wednesday, September 24, 2008

Why I don’t want to bail you out

Because I can think of a lot of other things to spend my $7,000 on…