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The Fallout From OpenAI’s Revenue Surprise (shared)

By Ilene
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Fears that OpenAI’s revenue is growing more slowly than expected affected several technology stocks.Credit...Carlos Barria/Reuters

News that the artificial intelligence giant’s sales weren’t growing as fast as investors had expected added to concerns about the A.I. boom.

By Andrew Ross Sorkin, Bernhard Warner, Sarah Kessler, Michael J. de la Merced, Niko Gallogly, Brian O’Keefe, Sri Muppidi and Ian Mount, NY Times 
 

Andrew here. Nobody likes to talk about deficits, but we can’t afford to ignore them. The federal budget deficit climbed to nearly $2 trillion in the most recent fiscal year, the Congressional Budget Office said on Thursday. The problem isn’t just that we’re spending far more than we’re taking in. It’s that the gap is growing.

For the tax nerds among us, Yale’s Budget Lab has a fascinating new tool that lets you build your own tax package, testing how much revenue different proposals would actually raise — and how they interact with one another as taxpayers change their behavior. It’s a useful reminder that even the seemingly simple answer of taxing the wealthy is complicated.

More here >

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