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Jeff Bezos: Amazon founder pledges to give away most of his wealth

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Jeff Bezos: Amazon founder pledges to give away most of his wealth

Amazon founder Jeff Bezos has said he plans to give away most of his $124bn (£107bn) fortune during his lifetime.

The businessman told news network CNN he would donate his wealth to fighting climate change and reducing inequality.

He has previously been criticised for not promising to dedicate his fortune to charity.

Investor Warren Buffett, Microsoft founder Bill Gates and Mr Bezos’s ex-wife MacKenzie Scott have all promised to give their money away.

Mr Bezos revealed his plans after donating $100m to the country music star and philanthropist Dolly Parton to use for charitable causes.

Asked by CNN whether he intended to give away most of his wealth within his lifetime, Mr Bezos told the network: “Yeah, I do.”

 

He declined to provide details on where he would spend or donate the money, but said: “The hard part is figuring out how to do it in a levered way.”

Previous philanthropy

The multi-billionaire previously pledged $10bn to the Bezos Earth Fund, which he launched in 2020 to help fight climate change.

The move came after Mr Bezos and other entrepreneurs were criticised for spending vast amounts of money on trips into space instead of solving problems on Earth. Amazon had also been criticised in the past by its workers over its record on climate change.

Mr Bezos became one of the richest people on the planet after Amazon, the internet retailer he founded in 1994, became a global phenomenon.

He stepped down as Amazon chief executive in 2021 but remains chairman of its board. He also owns the Washington Post newspaper and space tourism company Blue Origin.

On Sunday Mr Bezos gave Dolly Parton the Bezos Courage & Civility Award, which recognises leaders who “pursue solutions with courage and civility”.

Ms Parton, who has supported causes such as child literacy, will be able to donate the cash to the charities of her choice.

“We couldn’t have thought of someone better than to give this award to Dolly, and we know she’s going to do amazing things with it,” Ms Sanchez told CNN.

In a video of the ceremony posted online, Ms Parton said “Wow! Did you say $100m?”

She added: “I think people who are in a position to help should put their money where their heart is. I will do my best to do good things with this money.”

Mr Bezos launched the award in 2021, with prizes going to activist Van Jones and chef and humanitarian Jose Andres, who established World Central Kitchen, which provides food in disaster-stricken countries.

Ms Parton – a singer-songwriter, actress, businesswoman and philanthropist – was inducted into the Rock & Roll Hall of Fame earlier this month.

She has been a high-profile supporter of charities and founded the Dollywood Foundation, which has given books to children around the world.

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Ghana vs Switzerland (2-0) Full Highlights Goals, Pre-Qatar 2022 FIFA World Cup Friendly Match (Video)

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Ghana vs Switzerland (2-0) Full Highlights Goals

Ghana vs Switzerland (2-0) Full Highlights Goals

Mohammed Salisu and Antoine Semenyo gave Ghana the deserving win over their European opponent “Switzerland” as they head to Qatar 2022 FIFA World Cup in high spirit.

The Black Stars of Ghana defeated Switzerland by 2-0 in an international friendly match on Thursday, November 17, 2022 at the ZSC Stadium in Abu Dhabi.

Southampton defender, Mohammed Salisu scored the first goal of the match with a header from a corner kick effected by Daniel Kofi Kyereh.

The goal which was the first goal of the defender inspired Ghana to another goal when striker Antoine Semenyo launched on a glorious pass from Kamaldeen Sulemana to slot home a volley.

In-form Black Stars players Thomas Partey and Mohammed Kudus did not play the match as they were left out of the squad.

Ghana head into the 2022 World Cup with high hopes after defeating Switzerland who were able to beat Portugal twice in four matches this year.

Watch highlights of the match below:

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Donald Trump: Former US President announces he’ll run again in 2024

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Donald Trump: Former US President announces he'll run again in 2024

Former US President Donald Trump has launched his third bid for the White House, declaring: “America’s comeback starts right now.”

At his Florida estate, he said: “We have to save our country.”

Mr Trump’s announcement comes as some fellow Republicans have blamed him for the party’s lacklustre performance in last week’s midterms elections.

US President Joe Biden, who defeated Mr Trump two years ago, has said he may run for re-election in 2024.

Speaking from the ballroom of his Mar-a-Lago private club in Palm Beach on Tuesday night, Mr Trump said: “We are a nation in decline.

 

“We are a failing nation. For millions of Americans, the past two years under Joe Biden have been a time of pain, hardship, anxiety and despair.”

He continued: “In order to make America great and glorious again I am tonight announcing my candidacy for president of the United States.”

Minutes before his announcement, he filed paperwork with the Federal Election Commission declaring his presidential candidacy and setting up a fundraising account.

Mr Trump’s unusually early declaration for the election of 5 November 2024 is being seen as a tactic to steal a march on potential rivals for the Republicans’ White House nomination.

Though Mr Trump is the first to enter the race and instantly becomes the front-runner, he is expected to face challengers.

They may include his own former Vice-President Mike Pence, 63, and rising star Florida Governor Ron DeSantis, 44.

Mr Trump left office after one term in 2021, refusing to acknowledge his defeat by seven million votes and spreading baseless claims of an election stolen by mass voter fraud.

The debunked conspiracy theory riled up Trump supporters who rioted at Capitol Hill in the dying days of his presidency as lawmakers met to certify President Biden’s victory.

Mr Trump became the first president ever to be impeached twice, though congressional Democrats were thwarted in their bid to remove him from office by Senate Republicans.

He ploughed ahead with his announcement on Tuesday despite pleas from advisers to postpone until after a run-off election for the Senate seat in Georgia next month, lest his candidacy prove too much of a distraction.

Some conservatives have faulted Mr Trump for the Republicans’ failure to achieve sweeping victories in last week’s midterm elections.

Though the party is on the cusp of winning the 218 seats they need to control the 435-seat US House of Representatives, it would be by a razor-thin margin.

Meanwhile, Democrats have retained control of the Senate and may even pad their majority after the December run-off.

Last week’s results were decidedly mixed for congressional hopefuls endorsed by Mr Trump.

Candidates he supported in key states like Pennsylvania, Arizona and Michigan were defeated after echoing his election conspiracies, while others won in Ohio, Wisconsin and North Carolina.

Mr Trump made no mention on Tuesday night of his potential rivals for the Republican presidential nomination.

He has nicknamed Mr DeSantis, who won a landslide re-election victory as Florida governor last week, as “Ron DeSanctimonious”.

On Tuesday, Mr DeSantis was asked by reporters about Mr Trump’s attacks, and said: “Check out the scoreboard from last Tuesday night.”

Mr Pence, meanwhile, released a book on Tuesday detailing Mr Trump’s unsuccessful pressure campaign to overturn his 2020 defeat.

Asked on Fox News if he would vote for Mr Trump, the former vice-president said on Tuesday evening: “Well, I just I honestly believe that we’re gonna have better choices.”

Mr Trump’s White House bid comes as he is beset by criminal inquiries.

The Department of Justice is investigating the removal of files marked classified from the White House to Mar-a-Lago at the end of his presidency.

Mr Trump has defied a legal summons by a congressional committee that accuses him of instigating the US Capitol riot. And his property company is on trial for alleged tax fraud in New York.

If Mr Trump wins in 2024, he would be only the second president in history elected for two non-consecutive terms. The last was Grover Cleveland, a Democrat, in 1884 and 1892.

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“Fixing and Unfixing It”- Unpacking the Lazy, Unproductive Politicking of Ghana – Kenneth Kuranchie

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Kenneth Agyei Kuranchie, BA, LLB.

Kenneth Agyei Kuranchie, BA, LLB.

It is a truism that in politics, creating mass hysteria can be beneficial by way of the ballot box.

If one can find an emotionally charged theme, sum it up with a few catch phrases and put it on the radar of the mass consciousness, one can ride it to the highest political pinnacle.

Such a politician can use this emotionally charged issue like the red flag of a matador waved in front of a charging bull, and lure the bull (the public), literally to the death.

This tactic can be even more beneficial when the targeted politician or political entity carelessly hands over to the opponent golden nuggets and gems that can be used as political tinder to burn and chase the targeted political entity out of office.

History is replete with all manner of politicians who created a cause célèbre (a controversial issue that attracts a great deal of public attention), and then rode it like a rampaging horse to political power. And history is similarly replete with politicians who gifted their opponents the cause célèbre with which to take them out of power.

One such cause célèbre seems to have cropped up naturally (unnaturally?) around the “Fix the Country” campaign, and its counter-campaigners, on the recently introduced tax increases in Ghana, which has led to increments in petroleum products and telecommunication services.

The ‘Fix the Country’ campaigners insist that these measures are causing too much hardship.

The government recently imposed taxes on petroleum and communication
services to pay for the cost of fighting Covid-19 pandemic.

It is true that costs of petrol and communication services have gone up since May 1 st , 2021. The reasons are not far to seek.

Government has introduced a number of taxes for a number of reasons, most, if not all, to take effect from May 1 st , 2021.

An announcement by the Ghana Revenue Authority ahead of the May 1 st listed some of the taxes as
follows;
2. COVID-19 Health Recovery Levy Act, 2021 (Act 1068)
This Act imposes a one percent levy on the supply of goods and services made in the country other than exempt
goods or services; and import of goods and services other than exempt imports.
The Levy also applies to the supply of goods subject to the VAT Flat Rate.
The COVID-19 Health Recovery Levy is not allowable as an input tax deduction
3. Financial Sector Recovery Levy Act, 2021 (Act 1067)
This Act imposes a five percent levy on the profit before tax of banks
The tax is payable in quarterly instalments. However, for 2021, the levy is payable in three instalments
commencing from 30th June 2021.
4. Energy Sector Levy (Amendment) Act, 2021 (Act 1064):
This amendment has added two additional sections, 5A and 5B
5A – The imposition of an Energy Sector Recovery Levy of GH¢20 pesewas per litre of petrol/diesel and 18 pesewas
per kg on Liquefied Petroleum Gas (LPG)
5B – The imposition of a Sanitation and Pollution Levy of GH¢10 pesewas per litre of petrol and diesel respectively.
To do justice to the subject, one must go back and look at each imposed tax, in turn, and establish whether these
taxes are necessary. It will become clear, presently, that some of these taxes are good and beneficial, and some
are outright crass.
Like all controversial debates, no side is completely right, and no side is completely wrong. And interestingly, not
all the possible solutions that could have prevented us getting to this sorry pass, is on the table. And as for the
solutions beyond the screaming, they would simply be lost beyond the cacophony.
Indeed, to do a dispassionate discussion of the issue, the first line of the press statement issued by the Ghana
Revenue Authority (GRA), when it made the announcement on these taxes is instructive. The GRA stated, “The
Commissioner-General of the Ghana Revenue Authority brings to the notice of the general public, especially
taxpayers that Parliament has passed three new tax laws and amended two existing laws to be implemented in
2021.”
To do justice to the subject, one must go back and look at each imposed tax, in turn, and establish whether these
taxes are necessary.

The statement “Parliament has passed” is especially instructive. In effect, these taxes were approved by the
nation’s parliament, in which the Majority hangs on that majority votes by the closest of margins. It means that the
opposition holds inordinate amount of leverage. Yet, the Majority, representing the government, and the
Moinority, representing the leading opposition party, saw nothing wrong with ALL the new taxes they were to
impose.
Now, are all these taxes necessary? We may need to study each tax in turn.
First, the COVID-19 Health Recovery Levy Act, 2021 (Act 1068), which imposes a 1% tax on all goods and services
emanating from the country.
Without doubt, Ghana’s handling of the Covid-19 pandemic was star performance, and a study of how other
nations have fared, should tell us that we are not out of the woods yet. A 1% tax on goods and services, in my
humble opinion, should not lead to increments in prices, if industry were sincere to take a little less profit as a
contribution to the Covid effort. This is especially so, in that Ghana, like the rest of the world, is not out of the
Covid menace yet. It is all too possible that the world may need to undergo a second wave of a more virulent strain
of Covid. Government can only take the steps necessary to be taken to save lives, if government is certain that the
people on whose behalf it takes the tough decisions, would follow it when it comes time to pay up. This is not
partisanship. This is reality. However, it is all too clear that the nature of politics we do in this country is a politics
fuelled by a ‘scorched earth’ policy, that is, destroy everything in your path, including the positives, if necessary, in
order to capture the state, because your principal aim is not to build, but to capture the nation, steal as much as
you can, and when the people catch up with you at the ballot box, as they surely will do one day, to hand over until
you can trick them to give you the mandate in a few years’ time. That is the NDC’s position, which is why it makes
very little noise in parliament, and raises Cain out of parliament, because the Covid tax is good in the short,
medium and longterm.
Indeed all political actors should come out in immediate support of the COVID-19 Health Recovery Levy. We
committed the debt, and we need to pay it up. And it may save even more lives, yet.
The second is the Financial Sector Recovery Levy Act, 2021 (Act 1067).
This Act imposes a five percent levy on the profit before tax of banks.
The tax is payable in quarterly instalments. However, for 2021, the levy is payable in three instalments
commencing from 30th June 2021.
My opinion, is that this levy is unnecessary, and should not have been passed in the first place, if our members of
parliament on both sides knew what they were doing. Indeed, the so-called Financial Sector Recovery program is a
self-imposed hardship that the Ofori Atta Administration at the Ministry of Finance has inflicted on itself, and has
no moral and legal authority to pass onto the people of Ghana. This program arises out of the so-called collapse of
some private banks and financial institutions. I believe that if these banks and financial institutions had been
mismanaged and were collapsing, the sensible thing to do would have been to allow them to collapse, so that
other more efficiently managed banks would see the example of perfidious mismanagement.
To assume ownership of these financial institutions, and to seek to manage them as viable business entities, on the
back of tax payers, is unnatural, and if the history of all state banks in the past is anything to go by, would end up
with the same fate. There is also a very real possibility that down the line, Ghana would pay judgment debts for
the decisions taken with regard to these banks. All of which would have been avoided, if we had just cold-
bloodedly stood by and allowed them to collapse.
We should have just let them collapse, so that people learn the necessary lessons.
The third tax is the Energy Sector Levy (Amendment) Act, 2021 (Act 1064). This amendment has added two
additional sections, 5A and 5B.
5A is the imposition of an Energy Sector Recovery Levy of GH¢20 pesewas per litre of petrol/diesel and 18 pesewas
per kg on Liquefied Petroleum Gas (LPG), and 5B is the imposition of a Sanitation and Pollution Levy of GH¢10
pesewas per litre of petrol and diesel respectively.
As off the writing of this piece, I lack the exact figures on exactly what amounts the government seeks to make up,
what are the expected volumes of fuel products on which it is presumed to make up the fiscal shortage that the
government seeks to make up with 5A, and the duration of the period in which this levy would remain imposed. A
certain degree of education, on why the levy, and why it is pegged at the current levels, and for how long it is to be
imposed, would have been instructive. However, whatever, Ghanaians have still not forgotten the Energy Sector
Recovery levy, whose operations remain in great opacity to date, and the mention of whose name send both NDC
and NPP into great shivers.

With 5B, I dare say that it is one of the crassest decisions taken in our history in recent times, the so-called ‘Borla
Levy”, and parliament should very speedily go back into sitting and scrap this levy. Indeed, no member of
parliament, particularly those in NPP and NDC, should have the nerve of acknowledging the hardship that
Ghanaians go through, because Ghana does not need to impose collective taxation on a sensitive product like fuel
to ensure that we manage sanitation and pollution effectively.
It is a tax intended to rake in free money, hundreds of millions of dollars, for a particular company in Ghana. It is
totally immoral, and should be scrapped forthwith, and it is scary that any government would seek to bring about
any such law, and that a group of 275 men and women, who live on the taxpayer, would seek to impose such an
irresponsible tax on the same tax payer.
To the ruling government, the screaming that we are hearing from the population, castigating the government, is
purely self-imposed, and if we the members of this ruling government are not careful, we are just hammering the
nails in our coffin, for just thirty silver pieces.
We should remove the Zoomlion “Borla” Tax before it sends us to opposition, sooner than later.

 

Source: GhanaSky.com | Kenneth Agyei Kuranchie

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