Latest news with #BobLord
Yahoo
12-05-2025
- Business
- Yahoo
Millionaires don't flee states over higher taxes
() Increasing taxes on high income earners helped raise revenue without hampering the wealth of the millionaire class in Massachusetts and Washington, according to a new policy brief from the Institute for Policy Studies and State Revenue Alliance. A common counter to raising taxes on the rich is that they will simply flee their home states to jurisdictions with friendlier tax codes. While some tax migration is inevitable, the wealthy that move to avoid taxes represent a tiny percentage of their own social class. The top one percent are incentivized not to move because of family, social networks and local business knowledge. Our findings support the case against tax flight: The number of individuals with a net worth of at least seven-figures continued to expand in both Massachusetts and Washington after tax hikes. The millionaire class has grown by 38.6 percent in Massachusetts and 46.9 percent in Washington over the past two years. The seven-figure clubs in those states saw their wealth grow by $580 million and $748 million, respectively. Not only did millionaires not flee the states imposing new taxes, but the states became richer. The four percent surtax on million-dollar incomes in Massachusetts and the seven percent tax on capital gains of $250,000 or more in Washington State succeeded in raising revenue — $2.2 billion for FY 2024 and $1.2 billion in its first two years of implementation, respectively. These new resources have been invested in educational programs that support early learning, childcare, and free school lunches and community college. In the case of Massachusetts, some of the revenue collected is earmarked towards public transportation. That experience contrasts with the failure of the Great Kansas Tax Cut Experiment that began in 2012. The Sunflower State lagged behind its neighbors in a number of economic categories and experienced revenue shortfalls. The experiment was abandoned five years later. Lastly, the brief looks at the revenue potential of a wealth tax aimed at ultra-high net worth individuals. We identified individuals with $50 million or more in wealth across four states and estimated how much different taxes could raise. These individuals have the liquidity to pay and, as my colleague and former tax attorney Bob Lord has argued, need to have their rate of accumulation curbed. A two percent wealth tax on this class of ultra-high net worth individuals has the potential to raise $7.4 billion in Massachusetts, $21.9 billion in New York, $700 million in Rhode Island, and $8.2 billion in Washington. This is a significant source of potential revenue that can be invested in a green transition, permanently affordable housing, and universal healthcare. At the time of writing, legislators in Washington State are awaiting Governor Bob Ferguson's signature to pass new taxes to help bring down their $16 billion budget deficit. Even a one-time three percent wealth tax could bring down the deficit from $16 billion to $3.7 billion. We have witnessed a counterrevolution over the past 50 years where the nation's wealth and income has concentrated at an extreme level in the hands of a small but powerful minority. They use their resources to increase their access to the state, buy up more assets, and squeeze the living standards of the working-class. We have the policy tools at our disposal to reverse this trend. Let's put progressive taxation to work. This commentary was originally published at and is republished under a Creative Commons 3.0 License.
Associated Press
08-05-2025
- Business
- Associated Press
Horizon Media and Google Power the Future of Entertainment Marketing at AI Hackathon
Top team wins $10,000 for breakthrough audience solution, using Google's AI technology and Horizon Media's audience insight data NEW YORK, May 8, 2025 /PRNewswire/ -- Horizon Media, the world's largest independent media agency, partnered with Google to host Hacking the Screen — a one-day AI hackathon held at Google's St. John's Terminal office in Manhattan. Designed to reimagine the future of entertainment marketing, the event brought together students from nine universities — including University of Massachusetts, Cornell University, Columbia University and New York University — for a hands-on Hackathon in applied innovation. Hosted by Bob Lord, president of Horizon Media Holdings, and Paijmaan Premji, data transformation lead at Google, the event showcased the natural synergy between two companies at the forefront of digital transformation. United by a shared commitment to advancing responsible AI, nurturing emerging talent and shaping the next wave of intelligent media solutions, the collaboration emphasized innovation with integrity. A competitively selected and diverse group of participants worked in teams, leveraging Horizon's proprietary audience intelligence tools alongside Google's Vertex AI platform to develop innovative solutions to key marketing use cases for a leading entertainment brand. Grounded in behavioral data and evaluated for strategic impact, each prototype served as a real-world exploration of AI's potential to transform business outcomes across industries and audiences. The hackathon is part of Horizon's broader ambition to fuse experimentation with execution on behalf of its clients — advancing the ongoing development of Blu, its AI-native growth platform, while cultivating next-gen talent and pioneering new partnerships across technology, media, and culture. 'These students surfaced actionable opportunities — not hypotheticals,' said Bob Lord. 'By pressure-testing Google's AI tools and Horizon's Data Insights against real business challenges, they revealed how AI can elevate strategy, speed execution, and sharpen relevance. Innovation like this doesn't happen in a vacuum — it takes bold thinking, collaborative energy, and the courage to build what hasn't been built yet.' The winning team, Synth Solutions, earned a $10,000 grand prize for its strategic use of large language models to optimize campaign messaging across nuanced audience segments. The team — composed of Nyosha Homicil of Pace University, Matthew Labasan of Columbia University, Eric Kouperman of Pace University, and Apun Datta of Hunter College — developed a prototype that blended empathy, data, and generative intelligence to power more predictive, high-impact campaigns. Projects were evaluated on a five-point scale across five categories: problem understanding, technical execution, creativity and innovation, real-world relevance, and presentation. Judges looked for clear problem statements, effective use of AI and data tools, original thinking, and practical applications in media and advertising. The panel included Nadia Carta, head of data, measurement and analytics at Google; Elizabeth Twersky, vice president and group director of data solutions at Blu, Horizon Media; and Cindy Kim, executive vice president and managing partner of business solutions at Horizon Media. Top participants have been selected for internships with Horizon's AI, analytics, and innovation teams. About Horizon Media Horizon Media, the largest independent media agency globally, delivers data-driven business outcomes for some of the most innovative and ambitious brands. Founded in 1989, headquartered in New York, and with offices in Los Angeles and Toronto, the company employs 2,400+ people and has media investments of more than $8.5 billion. Horizon Media's fundamental belief is that business is personal, which drives its approach to connecting brands with their customers and engaging with its own employees, resulting in industry-leading workplace satisfaction levels (Glassdoor). The company is consistently recognized by independent media outlets for its client excellence and has earned several 'Best Workplaces' awards reflecting its commitment to diversity, equity, and inclusion and the life and well-being of everyone at Horizon Media. View original content to download multimedia: SOURCE Horizon Media
