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Back-to-school sales boom as teachers dig into their own pockets for classroom supplies on August 7, 2023 at 10:00 am Business News | The Hill

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Back-to-school shopping is expected to break sales records as educators face another year of paying for their own classroom supplies out of pocket.  

From fundraisers to a “student supply fee,” teachers and schools are finding ways to try to cover the cost of classroom supplies as more than 90 percent of educators use their own money for it, according to a survey from the National Education Association.

While back-to-school spending is expected to hit a record high of $41.5 billion, beating the previous high of $37.1 billion in 2021, according to a survey from National Retail Federation and Prosper Insights & Analytics, educators are often only given the bare necessities for their classrooms and students.

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“It’s absurd that we are creating a situation where school teachers feel it’s necessary to dip into their own pocket, year after year, to provide for the students in their classroom,” Colin Sharkey, executive director of the Association of American Educators (AAE), told The Hill last week. 

An analysis from My eLearning World showed teachers for the 2022-2023 school year spent an average of $820.14 on classroom supplies. 

The educators, however, cannot deduct even half of that cost from their taxes. 

For 20 years, teachers were only able to deduct $250 from their taxes for out-of-pocket classroom expenses. The IRS raised that number to $300 in 2022, saying, “The limit will rise in $50 increments in future years based on inflation adjustments.”

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“So we effectively have federal taxes on the money that teachers are spending out of pocket for essentials for classrooms for public schools, and I think that that can be corrected in a bipartisan fashion,” Sharkey said. 

AAE has repeatedly called for the tax code to be upgraded to allow each teacher to deduct $1,000 on their taxes for their classroom supplies, and up to $400 to go towards home internet expenses.

“The foresight to peg the popular deduction to inflation is to be applauded but is long overdue to increase the amount to $1,000 to match educator expenses and add the cost of broadband access, a necessity for educators,” Sharkey said back in 2022 after the IRS announcement. 

There are some school districts that will help out, with Jessica Saum, a special education teacher in Arkansas, saying she gets a $500 stipend from her school for classroom supplies plus money from a “student supply fee.”

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But at another district in the past, Saum had to rely on donations and fundraisers in order to get her supplies. 

“The classroom that I was stepping into didn’t have any books for students, and so it was an opportunity for me to start looking for some. I had friends donate some books from their children’s libraries, even looking at secondhand stores for books to stock the shelves,” said Saum. “And then I actually, that year, I did a DonorsChoose project and I was able to have that fully funded and was able to stock my classroom library through donations.”

Meanwhile, parents and students are spending more, too. 

Parents with children in K-12 are spending a record $890.07 on back-to-school shopping this year, according to the NRF report. College students and families are also hitting a new high of $1,366.95. 

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Katherine Cullen, vice president of industry and consumer insights at NRF, pointed out that “not all categories are experiencing the same level of inflation.”

“So rather than pulling back on spending, what we’re seeing is consumers are changing the way they shop,” Cullen said.

“So they’re focusing more on sales and deals; they’re starting earlier to give themselves more time to shop. And they are maybe a little less brand specific or brand loyal than they might have been in the past so maybe a little more willing to shop at a discount store or more willing to trade down to a store or off brand product,” she added. 

NRF found the increase in spending is “primarily driven” by technology, with 69 percent of shoppers saying they are expecting to buy electronics in their back-to-school shopping. The top technologies purchased during this season are laptops at 51 percent, tablets at 36 percent and calculators at 29 percent, it said.

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Teachers are used to going to specific stores for their supplies, as many retailers offer sales specifically for them.  

While it’s commonplace for teachers to ask for donations or shop at discounted stores, Sharkey said educators should talk to their school district leaders about classroom supplies as those in charge may be out of date for what is truly needed. 

“It’s also possible the district or who makes the purchasing decisions assumes that the school classroom has what it needs and would be surprised to find that when they talk to the classroom teachers, they feel they need things that aren’t provided or they’re not using thing that the school thinks are necessary that they’re spending money on,” he said. 

​Education, Business, back-to-school Back-to-school shopping is expected to break sales records as educators face another year of paying for their own classroom supplies out of pocket. From fundraisers to a “student supply fee,” teachers and schools are finding ways to try to cover the cost of classroom supplies as more than 90 percent of educators use their own…  

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Google Accused Of Favoring White, Asian Staff As It Reaches $28 Million Deal That Excludes Black Workers

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Google has tentatively agreed to a $28 million settlement in a California class‑action lawsuit alleging that white and Asian employees were routinely paid more and placed on faster career tracks than colleagues from other racial and ethnic backgrounds.

How The Discrimination Claims Emerged

The lawsuit was brought by former Google employee Ana Cantu, who identifies as Mexican and racially Indigenous and worked in people operations and cloud departments for about seven years. Cantu alleges that despite strong performance, she remained stuck at the same level while white and Asian colleagues doing similar work received higher pay, higher “levels,” and more frequent promotions.

Cantu’s complaint claims that Latino, Indigenous, Native American, Native Hawaiian, Pacific Islander, and Alaska Native employees were systematically underpaid compared with white and Asian coworkers performing substantially similar roles. The suit also says employees who raised concerns about pay and leveling saw raises and promotions withheld, reinforcing what plaintiffs describe as a two‑tiered system inside the company.

Why Black Employees Were Left Out

Cantu’s legal team ultimately agreed to narrow the class to employees whose race and ethnicity were “most closely aligned” with hers, a condition that cleared the path to the current settlement.

The judge noted that Black employees were explicitly excluded from the settlement class after negotiations, meaning they will not share in the $28 million payout even though they were named in earlier versions of the case. Separate litigation on behalf of Black Google employees alleging racial bias in pay and promotions remains pending, leaving their claims to be resolved in a different forum.

What The Settlement Provides

Of the $28 million total, about $20.4 million is expected to be distributed to eligible class members after legal fees and penalties are deducted. Eligible workers include those in California who self‑identified as Hispanic, Latinx, Indigenous, Native American, American Indian, Native Hawaiian, Pacific Islander, and/or Alaska Native during the covered period.

Beyond cash payments, Google has also agreed to take steps aimed at addressing the alleged disparities, including reviewing pay and leveling practices for racial and ethnic gaps. The settlement still needs final court approval at a hearing scheduled for later this year, and affected employees will have a chance to opt out or object before any money is distributed.

H2: Google’s Response And The Broader Stakes

A Google spokesperson has said the company disputes the allegations but chose to settle in order to move forward, while reiterating its public commitment to fair pay, hiring, and advancement for all employees. The company has emphasized ongoing internal audits and equity initiatives, though plaintiffs argue those efforts did not prevent or correct the disparities outlined in the lawsuit.

For many observers, the exclusion of Black workers from the settlement highlights the legal and strategic complexities of class‑action discrimination cases, especially in large, diverse workplaces. The outcome of the remaining lawsuit brought on behalf of Black employees, alongside this $28 million deal, will help define how one of the world’s most powerful tech companies is held accountable for alleged racial inequities in pay and promotion.

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Luana Lopes Lara: How a 29‑Year‑Old Became the Youngest Self‑Made Woman Billionaire

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At just 29, Luana Lopes Lara has taken a title that usually belongs to pop stars and consumer‑app founders.

Multiple business outlets now recognize her as the world’s youngest self‑made woman billionaire, after her company Kalshi hit an 11 billion dollar valuation in a new funding round.

That round, a 1 billion dollar Series E led by Paradigm with Sequoia Capital, Andreessen Horowitz, CapitalG and others participating, instantly pushed both co‑founders into the three‑comma club. Estimates place Luana’s personal stake at roughly 12 percent of Kalshi, valuing her net worth at about 1.3 billion dollars—wealth tied directly to equity she helped create rather than inheritance.

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Kalshi itself is a big part of why her ascent matters.

Founded in 2019, the New York–based company runs a federally regulated prediction‑market exchange where users trade yes‑or‑no contracts on real‑world events, from inflation reports to elections and sports outcomes.

As of late 2025, the platform has reached around 50 billion dollars in annualized trading volume, a thousand‑fold jump from roughly 300 million the year before, according to figures cited in TechCrunch and other financial press. That hyper‑growth convinced investors that event contracts are more than a niche curiosity, and it is this conviction—expressed in billions of dollars of new capital—that turned Luana’s share of Kalshi into a billion‑dollar fortune almost overnight.

Her path to that point is unusually demanding even by founder standards. Luana grew up in Brazil and trained at the Bolshoi Theater School’s Brazilian campus, where reports say she spent up to 13 hours a day in class and rehearsal, competing for places in a program that accepts fewer than 3 percent of applicants. After a stint dancing professionally in Austria, she pivoted into academics, enrolling at the Massachusetts Institute of Technology to study computer science and mathematics and later completing a master’s in engineering.

During summers she interned at major firms including Bridgewater Associates and Citadel, gaining a front‑row view of how global macro traders constantly bet on future events—but without a simple, regulated way for ordinary people to do the same.

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That realization shaped Kalshi’s founding thesis and ultimately her billionaire status. Together with co‑founder Tarek Mansour, whom she met at MIT, Luana spent years persuading lawyers and U.S. regulators that a fully legal event‑trading exchange could exist under commodities law. Reports say more than 60 law firms turned them down before one agreed to help, and the company then spent roughly three years in licensing discussions with the Commodity Futures Trading Commission before gaining approval. The payoff is visible in 2025’s numbers: an 11‑billion‑dollar valuation, a 1‑billion‑dollar fresh capital injection, and a founder’s stake that makes Luana Lopes Lara not just a compelling story but a data point in how fast wealth can now be created at the intersection of finance, regulation, and software.

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Harvard Grads Jobless? How AI & Ghost Jobs Broke Hiring

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America’s job market is facing an unprecedented crisis—and nowhere is this more painfully obvious than at Harvard, the world’s gold standard for elite education. A stunning 25% of Harvard’s MBA class of 2025 remains unemployed months after graduation, the highest rate recorded in university history. The Ivy League dream has become a harsh wakeup call, and it’s sending shockwaves across the professional landscape.

Jobless at the Top: Why Graduates Can’t Find Work

For decades, a Harvard diploma was considered a golden ticket. Now, graduates send out hundreds of résumés, often from their parents’ homes, only to get ghosted or auto-rejected by machines. Only 30% of all 2025 graduates nationally have found full-time work in their field, and nearly half feel unprepared for the workforce. Go to college, get a good job“—that promise is slipping away, even for the smartest and most driven.​

Tech’s Iron Grip: ATS and AI Gatekeepers

Applicant tracking systems (ATS) and AI algorithms have become ruthless gatekeepers. If a résumé doesn’t perfectly match the keywords or formatting demanded by the bots, it never reaches human eyes. The age of human connection is gone—now, you’re just a data point to be sorted and discarded.

AI screening has gone beyond basic qualifications. New tools “read” for inferred personality and tone, rejecting candidates for reasons they never see. Worse, up to half of online job listings may be fake—created simply to collect résumés, pad company metrics, or fulfill compliance without ever intending to fill the role.

The Experience Trap: Entry-Level Jobs Require Years

It’s not just Harvard grads who are hurting. Entry-level roles demand years of experience, unpaid internships, and portfolios that resemble a seasoned professional, not a fresh graduate. A bachelor’s degree, once the key to entry, is now just the price of admission. Overqualified candidates compete for underpaid jobs, often just to survive.

One Harvard MBA described applying to 1,000 jobs with no results. Companies, inundated by applications, are now so selective that only those who precisely “game the system” have a shot. This has fundamentally flipped the hiring pyramid: enormous demand for experience, shrinking chances for new entrants, and a brutal gauntlet for anyone not perfectly groomed by internships and coaching.

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Burnout Before Day One

The cost is more than financial—mental health and optimism are collapsing among the newest generation of workers. Many come out of elite programs and immediately end up in jobs that don’t require degrees, or take positions far below their qualifications just to pay the bills. There’s a sense of burnout before careers even begin, trapping talent in a cycle of exhaustion, frustration, and disillusionment.

Cultural Collapse: From Relationships to Algorithms

What’s really broken? The culture of hiring itself. Companies have traded trust, mentorship, and relationships for metrics, optimizations, and cost-cutting. Managers no longer hire on potential—they rely on machines, rankings, and personality tests that filter out individuality and reward those who play the algorithmic game best.

AI has automated the very entry-level work that used to build careers—research, drafting, and analysis—and erased the first rung of the professional ladder for thousands of new graduates. The result is a workforce filled with people who know how to pass tests, not necessarily solve problems or drive innovation.

The Ghost Job Phenomenon

Up to half of all listings for entry-level jobs may be “ghost jobs”—positions posted online for optics, compliance, or future needs, but never intended for real hiring. This means millions of job seekers spend hours on applications destined for digital purgatory, further fueling exhaustion and cynicism.

Not Lazy—Just Locked Out

Despite the headlines, the new class of unemployed graduates is not lazy or entitled—they are overqualified, underleveraged, and battered by a broken process. Harvard’s brand means less to AI and ATS systems than the right keyword or résumé format. Human judgment has been sidelined; individuality is filtered out.

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What’s Next? Back to Human Connection

Unless companies rediscover the value of human potential, mentorship, and relationships, the job search will remain a brutal numbers game—one that even the “best and brightest” struggle to win. The current system doesn’t just hurt workers—it holds companies back from hiring bold, creative talent who don’t fit perfect digital boxes.

Key Facts:

  • 25% of Harvard MBAs unemployed, highest on record
  • Only 30% of 2025 grads nationwide have jobs in their field
  • Nearly half of grads feel unprepared for real work
  • Up to 50% of entry-level listings are “ghost jobs”
  • AI and ATS have replaced human judgment at most companies

If you’ve felt this struggle—or see it happening around you—share your story in the comments. And make sure to subscribe for more deep dives on the reality of today’s economy and job market.

This is not just a Harvard problem. It’s a sign that America’s job engine is running on empty, and it’s time to reboot—before another generation is locked out.

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