President Biden introduced the American Families Plan at his nationally televised first joint address to Congress yesterday, two days before his 100th day in office. (Watch it or read the transcript.)

🤿 A deeper dive…
The bill would allocate $1T in investments and $800B in tax cuts for families and children over the next ten years. According to the White House, it will:

• Add at least four years of free public education via universal pre-kindergarten for all three- and four-year-olds and two years of free community college. It also includes other education initiatives to advance equity gaps and make college more affordable.
• Provide direct support to children and low- and middle-income families by increasing access to quality child care, creating a national paid family and medical leave program, and providing nutritional assistance and health programs aimed at reducing childhood hunger.
• Extend tax cuts for low- and middle-income workers and families with children, including the child tax credit first passed in Biden’s $1.9T stimulus package.

To pay for the new programs, Biden proposes the following tax changes:

• Raising the top marginal income-tax rate to 39.6% from 37%. (What is marginal tax rate?)
• Nearly doubling the top capital gains tax rate for households making more than $1M (to 39.6% from 20%).
• Adjusting how capital gains are taxed at death, and expanding existing payroll and investment taxes - each 3.8% - to types of income they currently don’t cover.

Finally, the plan relies on $700B in revenue over the next ten years the Biden administration says would come from giving the IRS an extra $80B and more authority to crack down on tax evasion by high-earners and large corporations.

⏭️ What’s Next?
It remains to be seen how far the American Families Plan will progress in Congress, and which programs may be altered in the process.

• Biden reportedly plans to host congressional leaders from both parties at the White House in two weeks to discuss this legislation along with his recently proposed $2T+ infrastructure bill.

💰 Samsung Estate Plans

The family of Samsung Electronics’ late Chairman Lee Kun-hee revealed their plans for his ~$20.9B estate, confirming they will pay one of the largest inheritance tax bills in history ($10.8B over the next five years).

• Lee’s family will donate his personal art collection - some 23k works estimated to be worth $2.2B - to national and provincial museums in South Korea, and contribute $900M towards bettering the nation’s healthcare system.

More: At 50%, South Korea’s inheritance tax rate is the second-highest in the world behind Japan. The U.S. & UK are tied for 4th at 40%.

From the Left

From the Right

Meet Chad. Chad binge-eats, stays up late, and forgets to take the trash out.

What do his actions have in common?

They’re bad habits, one leading to the other. Easy to fall into, tough to break out of – every day, the same routine.

Chad wanted to change - nay, he yearned for change - but was finding it near impossible.

Then he found Noom.

Noom’s approach to changing your eating habits works by focusing on three pillars: education, flexibility, and support. It won’t help you take the trash out each week, but Noom does empower you to make healthier choices by better understanding yourself, your brain, and the science of choice.

Now, allow us to introduce you to new Chad. New Chad eats healthy, gets a good night’s rest, and takes the trash out promptly at 6:30 pm every Wednesday – no exceptions.

Don’t be old Chad. Be new Chad and make your health a habit today.

Image: CBS News

When self-proclaimed “Mama’s boy” Dustin Vitale found out his mom, Gloria, had terminal bladder cancer last year, he knew he would do anything to make one of her final wishes come true.

• Gloria always dreamt of seeing the Great Pyramids of Giza – however, doing so with her family of 14 would cost them an estimated $10K just for flights alone.

Living on a teacher’s salary with little to spare, Dustin knew he would need to get creative to find the money needed for flights.

• With the help of his family, he raised $18K over the course of six weeks – enough to cover his family’s flights to Egypt and then some.

How, you ask? Well, that involved some good ole’ fashioned Philly cheesesteaks.

Read more.

Images: Mario Cucinella Architects and Wasp

The design of this house☝️ in Ravenna, Italy appears organic and primitive– but as we all know, looks can be deceiving. It's actually the first house 3D-printed from raw earth.

• Designed by Mario Cucinella Architects and Wasp, Italy’s leading 3D-printing company, the zero-waste house was assembled through a process the builder calls “Tecla” (a combination of “technology” and “clay”) and consists of 350 12 mm layers of clay sourced from the building site.

It took just 200 hours for multiple printers to construct the clay dwelling. (but it may take a little longer to find someone to live in it. 😉)

Read more.

What is the last letter in the Greek alphabet?

A) Theta
B) Omega
C) Upsilon
D) Zeta

(keep scrolling for the answer)

Merch, subscriptions, and even mini-vacations are at your fingertips... for FREE. Simply refer your friends or family to the DONUT.

1. Copy your unique referral link below.
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3. Watch the rewards roll in.

No link found!

B) Omega

In the Greek alphabet, alpha (α) is the first letter while omega (Ω) is the last letter.