March 04, 2020
The former New York mayor could have paid off student loans for 150,000 people or bought houses for 2,200 homeless people * Follow live updates on the 2020 US electionThere wasn’t much good news on Super Tuesday for the more progressive wing of the Democratic party, save for one lesson: money on its own, mercifully, cannot, as of yet, buy an entire election.That’s the lesson many drew from the failure of billionaire Mike Bloomberg, who had hoped spending a half billion sliver of his massive fortune on an ad buy and staffing a national campaign might make inroads against former vice-president Joe Biden for the battle of the centrists.But Bloomberg’s announcement today that he will be dropping out means the more than $500m he spent was wasted on nothing. Unless you count his sole win in American Samoa.Wasted is a relative term of course, because for a man reportedly worth over $60b, $500m to him is practically nothing. For everyone else it’s still, well, $500m, and that has prompted some to wonder what good that kind of money could have done spent elsewhere.Here are some places he might have better spent the cash dump: Clearing medical debtAccording to RIP Medical Debt, a group who purchases medical debt in bulk, every $100 donated can alleviate $10,000 in oppressive medical bills. 66% of all US bankruptcies are tied to medical debt issues they say. So far they’ve eliminated around $1.3bn in medical debt, but doing some quick math, if Bloomberg had chipped in what he spent on the campaign that might have alleviated … $500bn in debt. Sadly and sickeningly that’s not enough to clear everyone’s tab in America, but it’s pretty close, and good enough to change hundreds of thousands of lives over night. Alas. Cleaning up FlintFor around 1/10 of what he spent on getting embarrassed in front of the world, Bloomberg also could have replaced all of the old lead pipes in Flint, Michigan, then had hundreds of millions left over to pull every citizen there – or in many other cities – out of poverty. It’s a point that many made when the campaign complained about their headquarters there being lightly vandalized last month. Pay off student debtWhile $500m might be a drop in the bucket of the $1.4tn owed in student loan debt in America, with an average outstanding loan of around $37,000, that’s roughly 150,000 people whose lives the former New York City mayor could have transformed for the better. Think about all the good all those people unshackled at once from their predatory student loans might go on to do. House the homelessWith a reported 60,000-80,000 people living unhoused in New York City, his hometown, Bloomberg certainly would have had to lay out a bit more than $500m to give them all homes, certainly in one of the most expensive cities in the country, but with an average home price across the US of about $226,000 that’s well over 2,200 people he could have simply purchased a home for. Just like that. Here’s a house. It’s all yours now. He’d barely even notice the money was gone.
What Bloombergs $500m could have bought instead
Restore voting rights to felonsAs an ardent believer in democracy, Bloomberg is no doubt aggrieved by Florida Republicans’ efforts to reverse engineer a poll tax against the will of the voters, making it harder for felons to vote. Bloomberg could make a huge dent in the hundreds of millions outstanding, restoring the right to vote to thousands, or alternatively, he might have funded any number of campaigns against Republicans in the state actively working to disenfranchise its own citizens. His call, really!
Related Stories
Latest News
Top news around the world
Academy Awards

‘Oppenheimer’ Reigns at Oscars With Seven Wins, Including Best Picture and Director

Get the latest news about the 2024 Oscars, including nominations, winners, predictions and red carpet fashion at 96th Academy Awards

Around the World

Politic
'Trump tax': MSNBC host Chris Hayes shows how Trump winning would increase costs
Mar 28, 2024
How much would former President Donald Trump's proposed 10 percent tariff plan actually cost the average American household?The wave of tariffs Trump enacted when he was last president caused chaos, but there are many complexities that muddy this somewhat. However, MSNBC's Chris Hayes took an educated and simple guess at just how badly the country would be hit in the pocketbook under Trump's second-term plans."We don't know exactly how much everything would cost," said Hayes, but "just add 10 percent on the back of the napkin. Here's the cost of living under the Trump Tax."ALSO READ: ‘Don't have enough’: Wealthy Trump allies balk at helping Donald pay legal bills"Start with groceries," he said. "A dozen eggs cost about $3. Once you apply the Trump Tax, that is up to $3.30, with the U.S. importing over 4 million eggs a year, but cost consumers over $1.2 million. If you like oranges, they currently go for about $1.53 per pound. With the Trump Tax, that would be $1.68 per pound, which would cost American consumers almost $71 million for the nearly half a billion pounds of the import. Bananas. We don't really grow them in the U.S., do we? They average about $.63 per pound and going up to $.69 per pound with the Trump Tax, thanks to the U.S. importing more than 10 million pounds per year, that could cost Americans at $609 million and that's a $609 million tax on American consumers. Then there's tomatoes. They go for about $2.13 per pound. Apply the 10 percent Trump Tax. They would be $2.34 per pound, potentially costing Americans $3.5 million thanks to the 6.8 million pounds we import per year. If you are spending $1,200 on groceries, add another $120 to the bill. That's more than the peak of inflation in 2022, which topped off at 9 percent. This is 10 percent."Groceries are just the start, he continued."How about the refrigerator?" said Hayes. "You need to keep the groceries fresh. The average cost of a new fridge is about $1,300. With the Trump Tax, that could go up to $1,430, costing Americans $1.95 billion for the 15 million refrigerators that we import. Again, $1.95 billion of new taxes. What about the car that you need to drive to the grocery store? On average, a new car costs about $48,808 today. With Trump Tax, it costs $53,684, with Americans potentially taking a $66.3 billion hit across the board on the 13 million cars we import. That's not including the 50 percent tariff which would make it another $25,000. Even the smartphone in your pocket cost on average about $940 right now. With Trump Tax, it can go up to $1,034, with Americans potentially paying an extra $13.2 billion for the nearly 141 million smartphones that we import per year.""Everyone hates when you have to pay more for things," he added. "Inflation is one of the biggest liabilities for a sitting president. Yet here is Donald Trump, in the Year of our Lord 2024, running against President Biden, promising to make things more expensive for every American."Watch the video below or click here. Chris Hayes breaks down "Trump Tax" www.youtube.com
READ MORE
Politic
Trump-endorsed candidate says Beyoncé is teaching women 'how to be hyper-sexual'
Mar 28, 2024
North Carolina Lt. Gov. Mark Robinson had yet another group of extremist comments unveiled — this time about legendary singer Beyoncé Knowles-Carter.According to The Root, "During a series of rants spanning multiple years, Robinson —who is Black —insulted Beyoncé’s singing abilities, called her a 'skank,' and said she was teaching 'young women how to be hyper-sexual w----s.'"For example, in 2017, Robinson posted to Facebook, “Person; Beyoncé is a role model!” Me; “The only person that butt shakin’, devil worshipping, skank is a role model to is people who want a fast track to Hell.” This is on top of previous reporting that he referred to her music as sounding like "Satanic chants."ALSO READ: ‘Don't have enough’: Wealthy Trump allies balk at helping Donald pay legal billsThese revelations come at a moment when Beyoncé herself has found herself at the center of some national controversy, having written a country music inspired album known as Cowboy Carter, and some country radio stations refusing to play singles off of it because of her race.Robinson, who is challenging Democratic Attorney General Josh Stein for the governorship of North Carolina, has been put under the spotlight for a number of bizarre and offensive comments throughout the years.Among other things, he has referred to school shooting survivors as "prosti-tots," pushed QAnon and "lizard people" conspiracy theories, questioned the Holocaust, and suggested American politics was better in the era when women couldn't vote.
READ MORE
Politic
'Some prosecutor should be looking into' Trump's latest legal defense scam: expert
Mar 28, 2024
Former President Donald Trump's sprawling network of ostensibly independent political groups raising money for him, much of it in service of paying legal expenses, seems to walk right up to the line of breaking the law, former prosecutor Kristy Greenberg told MSNBC's Alex Wagner — and may in fact cross it."Kristy, how is this legal?" asked Wagner. "How can he keep saying this one thing and doing another?""Well, I think the big question here will be looking behind all of this as to who is coordinating it," said Greenberg. "If Donald Trump is coordinating between his campaign and these PACs that are supposed to be third parties and independent — the Save America PAC is independent, even though he directs it, independent third-party — if there is sufficient coordination, you could prove that, then maybe you would have something to say these expenditures are not purely personal, these are really campaign contributions. And therefore they should be subject to the limits of $5,000 that campaign contributions are subject to."ALSO READ: ‘Don't have enough’: Wealthy Trump allies balk at helping Donald pay legal billsWhat it looks like, Greenberg went on, is that Trump and his allies are "just trying to do an end-run around these various regulations, and it seems so transparent.""[Special counsel] Jack Smith ... had served some subpoenas in connection with that nonexistent, as it turns out, election defense fund," Greenberg said. "He served some subpoenas and then he withdrew them and it was unclear why, because that seemed like such a clear-cut fraud. I questioned why that happened. Perhaps it was optics. Perhaps he thought like he had such strong cases, the January 6 case and the national security case, that he didn't want to seem as though he was trying to drain Trump of the ability to legally defend against those cases. Hard to say. But I questioned it at that time because that seemed like such a clear wire fraud case that it seemed like it should be looked into, but maybe they just had limited resources and didn't like the optics of it.""But I agree with you, this raises a lot of questions," she added. "Someone, somewhere, even if not the special counsel's office, because they are pretty busy — some prosecutors should be looking into this."Watch the video below or at the link. Kristy Greenberg on the legality of Trump's PACs www.youtube.com
READ MORE
Celebrity News

> Latest News in Media

Watch It
Millie Bobby Brown & Jake Bongiovi Celebrate “Three Years of Bliss” Ahead of Wedding
March 24, 2024
C4Ehegcq1-A
Kate Middleton & Prince William "Enormously Touched" by Public Support
March 24, 2024
s8fig-RCjFc
Gisele Bündchen Denies Cheating on Ex-Husband Tom Brady
March 23, 2024
_SpRMagA8BM
Eminem, 50 Cent & Snoop Dogg Present Dr. Dre with a Star on the Walk of Fame
March 19, 2024
4bNLs1hxVp8
Opening Remarks for the Variety Summit October 20th, 2023 Jay Penske
March 18, 2024
c6Z707iLq8E
'Everybody Was S----ing Their Pants': Nick Thune Jokes About Being Born in the '70s and Fatherhood
March 16, 2024
mm7Baf6o2d8
Gunna Says Tour Will Up Creativity in Rap, Endorses Flo Milli | TMZ
March 22, 2024
QfMU24fw-Qo
Reporter Taylor Lorenz Says Palace Botched Kate Cancer News Rollout | TMZ Live
March 22, 2024
o43ZucdiyEo
Riley Strain's Body Found After Going Missing in Nashville 2 Weeks Ago | TMZ NOW
March 22, 2024
1m1zM-4_Cs8
Kyle Richards hasn’t spoken to co-star Dorit Kemsley, denies sending her a ‘manipulative’ text
March 24, 2024
LqLZzDP1hm4
Jordan Emanuel on her connection to 'RHOSLC' star Meredith Marks, advice from Amanda Batula
March 24, 2024
5NPAwlOov1Y
Kate Middleton’s uncle Gary apologizes after slamming ‘fickle’ Meghan Markle in scathing interview
March 24, 2024
JWG9kitALZk
TV Schedule
Late Night Show
Watch the latest shows of U.S. top comedians

Sports

Latest sport results, news, videos, interviews and comments
Latest Events
20
Mar
CHAMPIONS LEAGUE: Playoffs - Women
SK Brann W - Barcelona W
20
Mar
CHAMPIONS LEAGUE: Playoffs - Women
Hacken W - PSG W
19
Mar
CHAMPIONS LEAGUE: Playoffs - Women
SL Benfica W - Lyon W
19
Mar
CHAMPIONS LEAGUE: Playoffs - Women
Ajax W - Chelsea W
17
Mar
SPAIN: La Liga
Atletico Madrid - Barcelona
17
Mar
ENGLAND: FA Cup
Manchester United - Liverpool
17
Mar
ITALY: Serie A
Inter Milan - Napoli
17
Mar
ENGLAND: Premier League
Brighton - Manchester City
17
Mar
GERMANY: Bundesliga
Borussia Dortmund - Eintracht Frankfurt
17
Mar
ENGLAND: FA Cup
Chelsea - Leicester City
17
Mar
ITALY: Serie A
Roma - Sassuolo
17
Mar
ITALY: Serie A
Verona - AC Milan
17
Mar
ITALY: Serie A
Juventus - Genoa
16
Mar
GERMANY: Bundesliga
Darmstadt - Bayern Munich
16
Mar
ENGLAND: FA Cup
Manchester City - Newcastle United
16
Mar
ENGLAND: Premier League
Fulham - Tottenham Hotspur
16
Mar
SPAIN: La Liga
Osasuna - Real Madrid
13
Mar
CHAMPIONS LEAGUE: 1/8 Final
Atletico Madrid - Inter Milan
12
Mar
CHAMPIONS LEAGUE: 1/8 Final
Barcelona - Napoli
12
Mar
CHAMPIONS LEAGUE: 1/8 Final
Arsenal - Porto
11
Mar
ENGLAND: Premier League
Chelsea - Newcastle United
10
Mar
ENGLAND: Premier League
Liverpool - Manchester City
10
Mar
SPAIN: La Liga
Real Madrid - Celta Vigo
10
Mar
ENGLAND: Premier League
Aston Villa - Tottenham Hotspur
10
Mar
ITALY: Serie A
Juventus - Atalanta
10
Mar
ITALY: Serie A
Fiorentina - Roma
10
Mar
ITALY: Serie A
AC Milan - Empoli
Find us on Instagram
at @feedimo to stay up to date with the latest.
Featured Video You Might Like
zWJ3MxW_HWA L1eLanNeZKg i1XRgbyUtOo -g9Qziqbif8 0vmRhiLHE2U JFCZUoa6MYE UfN5PCF5EUo 2PV55f3-UAg W3y9zuI_F64 -7qCxIccihU pQ9gcOoH9R8 g5MRDEXRk4k
Copyright © 2020 Feedimo. All Rights Reserved.