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Suburban lawmakers in Congress vigorously protected the long-standing ban on a commuter tax, so 66 percent of the income generated in Washington was taxed in Maryland and Virginia, where the bulk of federal workers made their homes. In addition to churches, schools, and other institutions that do not pay taxes anywhere, D.C. officials also could not tax land owned by the federal government, embassies, and nonprofits. Fully 42 percent of District land thus did not contribute to city coffers.
Chocolate City
Chris Myers Asch, George Derek Musgrove
The primary critique of VaR is that the underlying risks associated with financial markets are not as predictable as a coin flip or even a blind taste test between two beers. The false precision embedded in the models created a false sense of security. The VaR was like a faulty speedometer, which is arguably worse than no speedometer at all. If you place too much faith in the broken speedometer, you will be oblivious to other signs that your speed is unsafe. In contrast, if there is no speedometer at all, you have no choice but to look around for clues as to how fast you are really going.
Naked Statistics
Charles Wheelan
Unions like these had NLRB-certified agreements that companies could not hire without a union referral, and the unions would not refer African Americans.
The Color of Law
Richard Rothstein
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