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Meet Ross Mac: The Man, The Father, The Wealth Builder

For Father’s Day weekend, the Chicago Defender highlights distinguished Black men from our city who are outstanding dads. Ross Mac is the epitome of homegrown. This South Shore native is a Chicago Public School-raised, Harold’s chicken-loving, Ivy-league graduate dedicated to increasing access to financial education and literacy.  The former Wall Street professional now serves as […]
The post Meet Ross Mac: The Man, The Father, The Wealth Builder first appeared on BlackPressUSA.

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For Father’s Day weekend, the Chicago Defender highlights distinguished Black men from our city who are outstanding dads.

Ross Mac is the epitome of homegrown. This South Shore native is a Chicago Public School-raised, Harold’s chicken-loving, Ivy-league graduate dedicated to increasing access to financial education and literacy. 

The former Wall Street professional now serves as a media personality for Netflix, BET and Revolt, using his brand to empower people by merging education with entertainment. Above all, this millennial family man is committed to building a lasting legacy of black love, power and economics with his wife, beauty industry powerhouse Resa Luster-Mac, and their children at the center.

Fatherhood is the one thing that serves as my constant fire. Fatherhood gave me a true sense of purpose. 

Mac embodies the persona of greatness. However, I can’t help but remember when many CPS high school students were introduced to him through his ever-popular high school parties with 

“The Bros.” That was an era. You had to be there. 

He still holds true to his Chicago upbringing and the memories it conjures, like his first job at The Taste of Chicago, attending Whitney Young high school and more. 

Ross, the Wealth Builder

In a capitalist society, those without capital will truly have no power. Until we start the conversation on how to not only attain wealth but keep wealth in our communities, nothing will change. In our communities, change is hard because a lot of people are afraid to step out of their comfort zones by labeling it as the norm. I often say in order to attain generational wealth, we must heal from generational trauma. Systemic traumas are passed down. This is why people get comfortable with having bad credit, dodging bill collectors and more. They’ve seen it their entire lives. I’m on a mission to change that, says Mac. 

Mac attributes his passion for economics to his love for math. At an early age, he identified his niche for numbers. Because of this love, Mac developed a longing for entrepreneurial endeavors by selling candy in third grade, creating his clothing line and throwing parties in high school. He also cut hair in college.

So when it came to a passion, he says it had to be centered around business, stating, “I will attribute my time on Wall Street to unlocking the mastery of how to truly build wealth as a person of color. I genuinely believe that the greatest teacher is exposure. You have to see what you want to be and how to attain what you’re looking to build.” 

As if Mac is not busy enough traveling in and out of cities, he has decided to build wealth and knowledge at home. On July 9, the “Maconomics Wealth Summit” will be live in Chicago to educate and entertain those looking to increase their bag. 

“I wanted to curate something that would touch the community and put them on a path to building wealth in my hometown. I’m bringing athletes and people I look up to into this transformative conversation,” he said

Audience members can expect this summit to provide information on investments, life insurance, real estate experts and more. 

You are guaranteed to leave with life-changing information to put you on a path to success.

Ross, the Father and Legacy Builder

If you follow Mac on social media, you know his children are his world. You can find him creating videos with them on their many car rides on Instagram. 

Fatherhood is the one thing that serves as my constant fire. Fatherhood gave me a true sense of purpose. I have come to realize that everything I do, they innately pick it up. So it causes me to often ask myself, how can I live better? How can I walk in my purpose and ensure that they are better because of it? When I got into fatherhood, it was important to me to focus on one thing, and that is providing my children with the opportunities I didn’t have. But more importantly, teaching them all the things I didn’t know. My genuine desire for my children is that I put them in a position to change the world and make a bigger impact in ways that I never could. I will never stifle my children’s imagination and their ability to dream, but, most importantly, do! 

The Mac children are blessed to be raised by two power players in the city of Chicago. However, modeling success, love, and partnership is important to Ross and his wife, Resa. 

I look at my marriage as a partnership. My wife and I are teammates and business partners. We have a partnership when it comes to raising our children. I approach it from this lens in order to build a good business, have a great foundation, and have a good team. You have to know everyone’s strengths and weaknesses because we are competing for the same goal. This is what makes us a dynamic duo. We serve as a balance for one another. Resa and I have a common goal, and that is that our kids have a better life than we did and provide them with every opportunity to be successful in life. 

We love a Chicagoan that catalyzes change while leaving a lasting legacy. 

To follow Ross Mac and find out more information on The Wealth Summit, click here

 

The post Meet Ross Mac: The Man, The Father, The Wealth Builder appeared first on Chicago Defender.

The post Meet Ross Mac: The Man, The Father, The Wealth Builder first appeared on BlackPressUSA.

Chicago Defender Staff

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Recently Approved Budget Plan Favors Wealthy, Slashes Aid to Low-Income Americans

BLACKPRESSUSA NEWSWIRE — The most significant benefits would flow to the highest earners while millions of low-income families face cuts

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By Stacy M. Brown

BlackPressUSA.com Senior National Correspondent

The new budget framework approved by Congress may result in sweeping changes to the federal safety net and tax code. The most significant benefits would flow to the highest earners while millions of low-income families face cuts. A new analysis from Yale University’s Budget Lab shows the proposals in the House’s Fiscal Year 2025 Budget Resolution would lead to a drop in after-tax-and-transfer income for the poorest households while significantly boosting revenue for the wealthiest Americans. Last month, Congress passed its Concurrent Budget Resolution for Fiscal Year 2025 (H. Con. Res. 14), setting revenue and spending targets for the next decade. The resolution outlines $1.5 trillion in gross spending cuts and $4.5 trillion in tax reductions between FY2025 and FY2034, along with $500 billion in unspecified deficit reduction.

Congressional Committees have now been instructed to identify policy changes that align with these goals. Three of the most impactful committees—Agriculture, Energy and Commerce, and Ways and Means—have been tasked with proposing major changes. The Agriculture Committee is charged with finding $230 billion in savings, likely through changes to the Supplemental Nutrition Assistance Program (SNAP), also known as food stamps. Energy and Commerce must deliver $880 billion in savings, likely through Medicaid reductions. Meanwhile, the Ways and Means Committee must craft tax changes totaling no more than $4.5 trillion in new deficits, most likely through extending provisions of the 2017 Tax Cuts and Jobs Act. Although the resolution does not specify precise changes, reports suggest lawmakers are eyeing steep cuts to SNAP and Medicaid benefits while seeking to make permanent tax provisions that primarily benefit high-income individuals and corporations.

To examine the potential real-world impact, Yale’s Budget Lab modeled four policy changes that align with the resolution’s goals:

  1. A 30 percent across-the-board cut in SNAP funding.
  2. A 15 percent cut in Medicaid funding.
  3. Permanent extension of the individual and estate tax cuts from the 2017 Tax Cuts and Jobs Act.
  4. Permanent extension of business tax provisions including 100% bonus depreciation, expense of R&D, and relaxed limits on interest deductions.

Yale researchers determined that the combined effect of these policies would reduce the after-tax-and-transfer income of the bottom 20 percent of earners by 5 percent in the calendar year 2026. Households in the middle would see a modest 0.6 percent gain. However, the top five percent of earners would experience a 3 percent increase in their after-tax-and-transfer income.

Moreover, the analysis concluded that more than 100 percent of the net fiscal benefit from these changes would go to households in the top 20 percent of the income distribution. This happens because lower-income groups would lose more in government benefits than they would gain from any tax cuts. At the same time, high-income households would enjoy significant tax reductions with little or no loss in benefits.

“These results indicate a shift in resources away from low-income tax units toward those with higher incomes,” the Budget Lab report states. “In particular, making the TCJA provisions permanent for high earners while reducing spending on SNAP and Medicaid leads to a regressive overall effect.” The report notes that policymakers have floated a range of options to reduce SNAP and Medicaid outlays, such as lowering per-beneficiary benefits or tightening eligibility rules. While the Budget Lab did not assess each proposal individually, the modeling assumes legislation consistent with the resolution’s instructions. “The burden of deficit reduction would fall largely on those least able to bear it,” the report concluded.

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A Threat to Pre-emptive Pardons

BLACKPRESSUSA NEWSWIRE — it was a possibility that the preemptive pardons would not happen because of the complicated nature of that never-before-enacted process.

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By April Ryan

President Trump is working to undo the traditional presidential pardon powers by questioning the Biden administration’s pre-emptive pardons issued just days before January 20, 2025. President Trump is seeking retribution against the January 6th House Select Committee. The Trump Justice Department has been tasked to find loopholes to overturn the pardons that could lead to legal battles for the Republican and Democratic nine-member committee. Legal scholars and those closely familiar with the pardon process worked with the Biden administration to ensure the preemptive pardons would stand against any retaliatory knocks from the incoming Trump administration. A source close to the Biden administration’s pardons said, in January 2025, “I think pardons are all valid.  The power is unreviewable by the courts.”

However, today that same source had a different statement on the nuances of the new Trump pardon attack. That attack places questions about Biden’s use of an autopen for the pardons. The Trump argument is that Biden did not know who was pardoned as he did not sign the documents. Instead, the pardons were allegedly signed by an autopen.  The same source close to the pardon issue said this week, “unless he [Trump] can prove Biden didn’t know what was being done in his name. All of this is in uncharted territory. “ Meanwhile, an autopen is used to make automatic or remote signatures. It has been used for decades by public figures and celebrities.

Months before the Biden pardon announcement, those in the Biden White House Counsel’s Office, staff, and the Justice Department were conferring tirelessly around the clock on who to pardon and how. The concern for the preemptive pardons was how to make them irrevocable in an unprecedented process. At one point in the lead-up to the preemptive pardon releases, it was a possibility that the preemptive pardons would not happen because of the complicated nature of that never-before-enacted process. President Trump began the threat of an investigation for the January 6th Select  Committee during the Hill proceedings. Trump has threatened members with investigation or jail.

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Reaction to The Education EO

BLACKPRESSUSA NEWSWIRE — Meanwhile, the new Education EO jeopardizes funding for students seeking a higher education. Duncan states, PellGrants are in jeopardy after servicing “6.5 million people” giving them a chance to go to college.

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By April Ryan

There are plenty of negative reactions to President Donald Trump’s latest Executive Order abolishing the Department of Education. As Democrats call yesterday’s action performative, it would take an act of Congress for the Education Department to close permanently. “This blatantly unconstitutional executive order is just another piece of evidence that Trump has absolutely no respect for the Constitution,” said Rep. Maxine Waters (D-CA) who is the ranking member on the House Financial Services Committee. “By dismantling ED, President Trump is implementing his own philosophy on education, which can be summed up in his own words, ‘I love the poorly educated.’ I am adamantly opposed to this reckless action, said Rep. Bobby Scott who is the most senior Democrat on the House Education and Workforce Committee.

Morgan State University President Dr. David Wilson chimed in saying “I’m deeply concerned about efforts to shift federal oversight in education back to the states, particularly regarding equity, justice, and fairness. History has shown us what happens when states are left unchecked—Black and poor children are too often denied access to the high-quality education they deserve. In 1979 then President Jimmy Carter signed a law creating the Department of Education. Arne Duncan, former Obama Education Secretary, reminds us that both Democratic and Republican presidents have kept education a non-political issue until now. However, Duncan stressed Republican presidents have contributed greatly to moving education forward in this country.

During a CNN interview this week Duncan said during the Civil War President Abraham “Lincoln created the land grant system” for colleges like Tennessee State University. “President Ford brought in IDEA.” And “Nixon signed Pell Grants into law.” In 2001, the No Child Left Behind Act was signed into law by President George W. Bush which increased federal oversight of schools through standardized testing. Meanwhile, the new Education EO jeopardizes funding for students seeking higher education. Duncan states, PellGrants are in jeopardy after servicing “6.5 million people” giving them a chance to go to college. Wilson details, “that 40 percent of all college students rely on Pell Grants and student loans.”

Rep. Alma Adams (D-NC) says this Trump action “impacts students pursuing higher education and threatens 26 million students across the country, taking billions away from their educational futures. Meanwhile, During the president’s speech in the East Room of the White House Thursday, Trump criticized Baltimore City, and its math test scores with critical words. Governor West Moore, who is opposed to the EO action, said about dismantling the Department of Education, “Leadership means lifting people up, not punching them down.”

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