Good morning! It's Daniel de Visé with your Daily Money.
Last month, two economists from opposing ideological camps published a research brief that argued Congress should halt the subsidies that allow people to make pre-tax contributions to retirement savings accounts: in other words, abolish the 401(k) and IRA.
Those tax benefits mostly favor the well-heeled, they said. Congress could use the savings, nearly $200 billion a year, to shore up Social Security.
Needless to say, their suggestion created a stir. Read the story.
And now, more on that new sports streaming service.
The joint venture from Fox, Disney's ESPN and Warner Bros. Discovery is a major-league play for sports fans who are cord-cutters and cord-nevers, meaning they no longer subscribe to a traditional pay-TV bundle or never did, Jessica Guynn reports.
The idea, according to Disney CEO Bob Iger, is to deliver a cheaper alternative to traditional cable for viewers who want to watch a full slate of sports. The typical "big bundle" cable television service runs upwards of $100 a month. This "skinny bundle" would be cheaper. How much cheaper, we don't know just yet. Read the story.
Spicy Coke?!
Indeed. Coca-Cola announced Wednesday it is introducing a new permanent flavor to its lineup: "Coca-Cola Spiced." The first permanent Coke offering in three years is laced with flavors of raspberry and spice and comes in regular and zero-sugar variations, Saman Shafiq reports.
"It’s Coca-Cola, only spiced," Coke says of the new flavor. Huh. Maybe on a really cold day? Read the story.
Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.
Daniel de Visé covers personal finance for USA Today.
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