Tax The Rich! Right? New Poll Uncovers Major Attitude Shift Towards Taxing The Wealthy, Social Security Spending

Published

2 years ago

April 7, 2023

admin

A poll conducted in late March shows that funding programs like Social Security and Medicare is a top priority for more Americans than it was 10 years ago.

The poll, performed by Fox News on a randomly selected nationwide sample of more than 1000 voters, asked participants which they deemed more important reducing the federal budget deficit or continuing to fund "entitlement programs," also known as government benefits.

Other entitlement programs include Medicaid, Unemployment, and welfare programs.

Of those surveyed, 71% picked entitlement programs as the priority, while 26% chose to reduce the budget deficit. The remaining 3% refrained from responding.

Also Read: Inflation Is About To Plummet, Wall Street Firm Says: Heres When Things Should Get Back To Normal

The results mark a significant shift in public opinion. In a survey performed in April 2013, the same question received just 54% support for maintaining entitlement programs and 40% of support for reducing the budget deficit.

This means that today's average voter is at least 14% more likely to support government funded social aid and healthcare than one surveyed 10 years ago.

A majority of voters also supported increasing taxation for individuals making more than $400,000 a year, with 68% supporting this proposal as a possible way of reducing the federal budget deficit.

This number, however, remains in line with opinions from a previous poll, conducted in 2012, in which 69% of participants agreed that increasing taxation on individuals making more than $250,000 a year would be a positive way of reducing the deficit.

Increasing taxes on businesses and corporations, meanwhile, received 15% more support in 2023 as compared to a 2011 poll, reaching 63% vs. 48% over a decade ago.

When it comes to cutting defense spending as a means of reducing the budget deficit, Only 37% of those surveyed in 2023 were in favor of that proposal, compared to 45% in 2011 and 2012.

Now Read: Jeff Bezos Tumbles On Forbes Worlds Richest List: 2022s Most Significant Net-Worth Reduction

Shutterstock image.

Technology

Amazon venture fund backs startup developing fix for return fraud

Published

3 hours ago

July 24, 2025

admin

Amazon venture fund backs startup developing fix for return fraud

Packages ride on a conveyor belt during Cyber Monday at an Amazon fulfillment center on December 2, 2024 in Orlando, Florida.

Miguel J. Rodriguez Carrillo | Getty Images

Amazon is turning to the startup world to find a potential fix for one of its thorniest logistics problems.

Retailers of all sizes have in recent years struggled with an uptick in fraudulent returns. The scam involves shoppers requesting a refund, but instead of returning the merchandise, they keep the item and send back an empty package or a box of unrelated junk.

It’s become a costly nuisance for retailers, accounting for $103 billion in losses last year, according to Appriss Retail.

Cambridge Terahertz, a Sunnyvale, California-based startup, has developed a 3D imaging system that can see inside unopened packages, enabling retailers to more easily and quickly spot cases of return fraud.

The company has just closed a $12 million seed financing, led by venture firm Felicis, with participation from Amazon’s $1 billion Industrial Innovation Fund and other investors.

Read more CNBC tech news

“Amazon handles a lot of boxes, as you can imagine,” Nathan Monroe, CEO of Cambridge Terahertz, said in an interview. “It’s a big problem just knowing what’s inside boxes, knowing how efficiently they’re packed, knowing if what you’ve returned to them is what you said it is.”

Amazon launched the Industrial Innovation Fund in 2022 with a goal of investing in businesses working on technology solutions that could apply to the company’s massive and complex operations network, from the middle mile to the last-mile portion of the delivery process.

Franziska Bossart, head of the fund, said in an interview that Amazon will typically plan to pursue a deeper “commercial relationship” with portfolio companies over time, ranging from piloting the technology to a potential acquisition.

Cambridge’s technology “aligns well with Amazon’s needs” and can have a real impact on its ability to screen inventory for damages and defects once it’s returned or before a package leaves the warehouse.

“The ability to see into boxes, identify contents, along with the compact nature of the system could allow for integration at various points in our operations,” Bossart said.

The fund has backed 20 companies so far. It also sourced Amazon’s acquihire and licensing deal with artificial intelligence robotics startup Covariant last August, Bossart added.

Amazon’s investment track record has come under scrutiny in the past. A 2020 investigation from The Wall Street Journal found the company’s Alexa Fund, which primarily invests in voice and AI technologies, used privileged information gained during meetings to launch its own competing products, citing people and startups familiar with the situation. Amazon previously denied any wrongdoing.

One of the Alexa Fund’s most notable investments was in video doorbell maker Ring, which Amazon later acquired in 2018 for $1 billion.

Cambridge connected with Amazon last year through a pitch competition focused on packaging visibility. Monroe co-founded the company in 2023 after researching terahertz imaging at the Massachusetts Institute of Technology.

The company, which has 10 employees, says it shrunk airport-scale security scanners down to a chip-based system inside a pyramid-shaped device that can fit in your hand. The device was originally conceived as a way to detect concealed weapons by seeing through nonconducive materials, like clothing or packages, in an unobtrusive way.

Cambridge cofounders Nathan Monroe and Anand Dixit hold a custom chip and pyramid-shaped device that make up its 3D imaging system.

Cambridge Terahertz

Cambridge said it has since been approached by companies interested in how the technology can be used in supply chains, manufacturing, aerospace and medical applications.

The startup said it has secured four government contracts, and has had discussions with U.S. Customs and Border Protection around how the technology can be used to detect shipments of fentanyl at the border, a problem the Trump administration has zeroed in on through its crackdown on a near century-old trade loophole known as de minimis.

The capital from Amazon and others will enable Cambridge to ramp up hiring and “fully productize” its 3D imaging technology, Monroe said.

WATCH: Amazon weighs another multi-billion dollar investment in Anthropic

Business

AO chair Cooper interviewed for Channel 4 chair job

Published

3 hours ago

July 24, 2025

admin

AO chair Cooper interviewed for Channel 4 chair job

The chairman of AO, the online electrical goods retailer, has been interviewed to become the next chair of state-owned broadcaster Channel 4.

Sky News has learnt that Geoff Cooper, a former boss of the builders’ merchant Travis Perkins, is among the candidates in the running to take on the post in the coming months.

Whitehall insiders said that Mr Cooper was now one of the shortlisted contenders awaiting news of whether they would get the nod from Ofcom, the media regulator and culture secretary Lisa Nandy.

In recent weeks, Sky News has revealed that those vying to replace Sir Ian Cheshire include Justin King, the former J Sainsbury boss; Wol Kolade, a private equity executive who has donated substantial sums of money to the Conservative Party; Debbie Wosskow, a start-up founder who already sits on the Channel 4 board.

Simon Dingemans, a former Goldman Sachs banker who sits on the board of WPP, the marketing services group, has also been shortlisted, according to the Financial Times.

Sir Ian stepped down earlier this year after just one term, having presided over a successful attempt to thwart privatisation by the last Tory government.

He was replaced on an interim basis by Dawn Airey, the media industry executive who has occupied top jobs at companies including ITV, Channel 5 and Yahoo!.

The race to lead the state-owned broadcaster’s board has acquired additional importance since the resignation of Alex Mahon, its long-serving chief executive.

It has since been reported that Alex Burford, another Channel 4 non-executive director and the boss of Warner Records UK, is a possible contender to replace Ms Mahon.

A vocal opponent of Channel 4’s privatisation, which was abandoned by the last Conservative government, Ms Mahon is leaving to join Superstruct, a private equity-owned live entertainment company.

The appointment of a new chair is expected to take place by the autumn, with the chosen candidate expected to lead the recruitment of Ms Mahon’s successor.

The Department for Culture, Media and Sport has declined to comment on the recruitment process, while Mr Cooper could not be reached for comment.

Business

Satellite tracker Spaceflux reaches lift-off with £5m funding boost

Published

3 hours ago

July 24, 2025

admin

Satellite tracker Spaceflux reaches lift-off with £5m funding boost

A British space surveillance company which has won a string of government contracts will this week announce a £5.4m fundraising to expand its global network of advanced telescopes.

Sky News understands that Spaceflux, which was founded three years ago, has secured the injection of capital in a round led by the UK Innovation & Science Seed Fund (UKI2S), which is managed by Future Planet Capital, as well as Foresight Group and Blackfinch Ventures.

Seraphim Space, the listed specialist investor in space-related companies, is also contributing funding.

Money blog: Renowned chef thinks luxury item should be wiped off menus

Spaceflux uses artificial intelligence and optical sensors to track satellites and debris across all orbits, with its daylight tracking capability meaning it can expand the observation window beyond night-time operations.

Its provision of space situational awareness technologies is in growing demand amid warnings that a week-long disruption to satellite navigation could incur a £7.6bn hit to the UK economy.

In a statement to Sky News, Marco Rocchetto, CEO and co-founder of Spaceflux, said: “As space becomes increasingly essential to our economy, environment and daily lives, it is also becoming more congested and contested.

“This investment strengthens our ability to protect satellite technology that delivers crucial insights to Earth around the clock, reducing collision risks, and supporting a safer, more sustainable space environment for future generations”.

The valuation at which the funding was being committed was unclear on Thursday.

Spaceflux, which serves government and commercial customers, has been the exclusive provider of geostationary satellite tracking for the Ministry of Defence and UK Space Agency since 2023.

Read more on Sky News:
Tesla looks to cheaper model
Welfare versus warfare: Why PM must choose

Alex Leigh, an investment director at UKI2S, said: “This investment marks a significant step in the convergence of defence and space, where dual-use technologies are becoming increasingly important to UK capability.

“Spaceflux’s technology offers critical insights to help monitor and safeguard orbital assets – supporting both national security and the wider commercial ecosystem.

“The company is well-positioned to scale its impact and meet the needs of customers navigating an increasingly complex space environment.”