Business

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

Published

2 years ago

August 7, 2023

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.

“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.”

“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.”

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.

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.

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…

Business

How Trump’s Tariffs Could Hit American Wallets

Published

3 days ago

July 11, 2025

Bolanle Media Staff

As the debate over tariffs heats up ahead of the 2024 election, new analysis reveals that American consumers could face significant financial consequences if former President Donald Trump’s proposed tariffs are enacted and maintained. According to a recent report highlighted by Forbes, the impact could be felt across households, businesses, and the broader U.S. economy.

The Household Cost: Up to $2,400 More Per Year

Research from Yale University’s Budget Lab, cited by Forbes, estimates that the average U.S. household could pay an additional $2,400 in 2025 if the new tariffs take effect and persist. This projection reflects the cumulative impact of all tariffs announced in Trump’s plan.

Price Hikes Across Everyday Goods

The tariffs are expected to drive up consumer prices by 1.8% in the near term. Some of the hardest-hit categories include:

Apparel: Prices could jump 37% in the short term (and 18% long-term).
Footwear: Up 39% short-term (18% long-term).
Metals: Up 43%.
Leather products: Up 39%.
Electrical equipment: Up 26%.
Motor vehicles, electronics, rubber, and plastic products: Up 11–18%.
Groceries: Items like vegetables, fruits, and nuts could rise up to 6%, with additional increases for coffee and orange juice due to specific tariffs on Brazilian imports.

A Historic Tariff Rate and Economic Impact

If fully implemented, the effective tariff rate on U.S. consumers could reach 18%, the highest level since 1934. The broader economic consequences are also notable:

GDP Reduction: The tariffs could reduce U.S. GDP by 0.4% annually, equating to about $110 billion per year.
Revenue vs. Losses: While tariffs are projected to generate $2.2 trillion in revenue over the next decade, this would be offset by $418 billion in negative economic impacts.

How Businesses Are Responding

A KPMG survey cited in the report found that 83% of business leaders expect to raise prices within six months of tariff implementation. More than half say their profit margins are already under pressure, suggesting that consumers will likely bear the brunt of these increased costs.

What This Means for Americans

The findings underscore the potential for substantial financial strain on American families and businesses if Trump’s proposed tariffs are enacted. With consumer prices set to rise and economic growth projected to slow, the debate over tariffs is likely to remain front and center in the months ahead.

For more in-depth economic analysis and updates, stay tuned to Bolanlemedia.com.

Business

U.S. Limits Nigerian Non-Immigrant Visas to Three-Month Validity

Published

4 days ago

July 9, 2025

Bolanle Media Staff

In July 2025, the United States implemented significant changes to its visa policy for Nigerian citizens, restricting most non-immigrant and non-diplomatic visas to a single entry and a maximum validity of three months. This marks a departure from previous policies that allowed for multiple entries and longer stays, and has important implications for travel, business, and diplomatic relations between the two countries.

Key Changes in U.S. Visa Policy for Nigerians

Single-Entry, Three-Month Limit: As of July 8, 2025, most non-immigrant visas issued to Nigerians are now valid for only one entry and up to three months.
No Retroactive Impact: Visas issued prior to this date remain valid under their original terms.
Reciprocity Principle: The U.S. cited alignment with Nigeria’s own visa policies for U.S. citizens as the basis for these changes.
Enhanced Security Screening: Applicants are required to make their social media accounts public for vetting, and are subject to increased scrutiny for any signs of hostility toward U.S. institutions.

Rationale Behind the Policy Shift

Security and Immigration Integrity: The U.S. government stated the changes are intended to safeguard the immigration system and meet global security standards.
Diplomatic Reciprocity: These restrictions mirror the limitations Nigeria imposes on U.S. travelers, emphasizing the principle of fairness in international visa agreements.
Potential for Further Action: The U.S. has indicated that additional travel restrictions could be introduced if Nigeria does not address certain diplomatic and security concerns.

Nigeria’s Updated Visa Policy

Nigeria Visa Policy 2025 (NVP 2025): Introduced in May 2025, this policy features a new e-Visa system for short visits and reorganizes visa categories:
- Short Visit Visas (e-Visa): For business or tourism, valid up to three months, non-renewable, processed digitally within 48 hours.
- Temporary Residence Visas: For employment or study, valid up to two years.
- Permanent Residence Visas: For investors, retirees, and highly skilled individuals.
Visa Exemptions: ECOWAS citizens and certain diplomatic passport holders remain exempt.
Reciprocal Restrictions: Most short-stay and business visas for U.S. citizens are single-entry and short-term, reflecting reciprocal treatment.

Impact on Travelers and Bilateral Relations

Nigerian Travelers: Face increased administrative requirements, higher costs, and reduced travel flexibility to the U.S.
U.S. Travelers to Nigeria: Encounter similar restrictions, with most visas limited to single entry and short duration.
Diplomatic Tensions: Nigerian officials have called for reconsideration of the U.S. policy, warning of negative effects on bilateral ties and people-to-people exchanges.

Conclusion

The U.S. decision to limit Nigerian non-immigrant visas to three months highlights the growing complexity and reciprocity in global visa regimes. Both countries are tightening their policies, citing security and fairness, which underscores the need for travelers and businesses to stay informed and adapt to evolving requirements.

Business

Nicki Minaj Demands $200 Million from Jay-Z in Explosive Twitter Rant

Published

4 days ago

July 9, 2025

Bolanle Media Staff

Nicki Minaj has once again set social media ablaze, this time targeting Jay-Z with a series of pointed tweets that allege he owes her an eye-popping $200 million. The outburst has reignited debates about artist compensation, industry transparency, and the ongoing power struggles within hip-hop’s elite circles.

The $200 Million Claim

In a string of tweets, Minaj directly addressed Jay-Z, writing, “Jay-Z, call me to settle the karmic debt. It’s only collecting more interest. You still in my top five though. Let’s get it.” She went further, warning, “Anyone still calling him Hov will answer to God for the blasphemy.” According to Minaj, the alleged debt stems from Jay-Z’s sale of Tidal, the music streaming platform he launched in 2015 with a group of high-profile artists—including Minaj herself, J. Cole, and Rihanna.

When Jay-Z sold Tidal in 2021, Minaj claims she was only offered $1 million, a figure she says falls dramatically short of what she believes she is owed based on her ownership stake and contributions. She has long voiced dissatisfaction with the payout, but this is the most public—and dramatic—demand to date.

Beyond the Money: Broader Grievances

Minaj’s Twitter storm wasn’t limited to financial complaints. She also:

Promised to start a college fund for her fans if she receives the money she claims is owed.
Accused blogs and online creators of ignoring her side of the story, especially when it involves Jay-Z.
Warned content creators about posting “hate or lies,” saying, “They won’t cover your legal fees… I hope it’s worth losing everything including your account.”

She expressed frustration that mainstream blogs and platforms don’t fully cover her statements, especially when they involve Jay-Z, and suggested that much of the coverage she receives is from less reputable sources.

Satirical Accusations and Industry Critique

Minaj’s tweets took a satirical turn as she jokingly blamed Jay-Z for a laundry list of cultural grievances, including:

The state of hip-hop, football, basketball, and touring
The decline of Instagram and Twitter
Even processed foods and artificial dyes in candy

She repeatedly declared, “The jig is up,” but clarified that her statements were “alleged and for entertainment purposes only.”

Political and Cultural Criticism

Minaj also criticized Jay-Z’s political involvement, questioning why he didn’t campaign more actively for Kamala Harris or respond to President Obama’s comments about Black men. While Jay-Z has a history of supporting Democratic campaigns, Minaj’s critique centered on more recent events and what she perceives as a lack of advocacy for the Black community.

The Super Bowl and Lil Wayne

Adding another layer to her grievances, Minaj voiced disappointment that Lil Wayne was not chosen to perform at the Super Bowl in New Orleans, a decision she attributes to Jay-Z’s influence in the entertainment industry.

Public and Industry Reaction

Despite the seriousness of her financial claim, many observers note that if Minaj truly believed Jay-Z owed her $200 million, legal action—not social media—would likely follow. As of now, there is no public record of a lawsuit or formal complaint.

Some fans and commentators see Minaj’s outburst as part of a larger pattern of airing industry grievances online, while others interpret it as a mix of personal frustration and performance art. Minaj herself emphasized that her tweets were “for entertainment purposes only.”

Conclusion

Nicki Minaj’s explosive Twitter rant against Jay-Z has once again placed the spotlight on issues of artist compensation and industry dynamics. Whether her claims will lead to further action or remain another dramatic chapter in hip-hop’s ongoing soap opera remains to be seen, but for now, the world is watching—and tweeting.