London's Tax PLLC

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Is London's Live America is the land of the scammers — don’t scam people.

Here I go live every week to:
📊 Talk about what’s really happening in the economy
⚖️ Call out scams and break down white-collar crim

📈 Top Revenue Industries for Nonfarm Sole Proprietorships

New IRS data shows nonfarm sole proprietors generated $2.08 trillion in total business receipts!

🔹 Construction leads among sectors, pulling in $377B.
🔹 Specialty Trade Contractors (a construction subset) earned $251B.
🔹 Professional Services (law, accounting, consulting) close behind at $248B.
🔹 Retail Trade remains strong with $212B despite e-commerce disruption.

Takeaway: Specialized services and construction dominate small business earnings—retail still holds ground too.

🚨 CFPB Fines Wise US Inc. $2M for Misleading Consumers

Wise US Inc. was hit with a $2.025 million penalty after the CFPB found the company misled consumers about ATM fees and exchange rates and failed to refund fees when money transfers weren't delivered on time.

They must also pay $450,000 in refunds to affected customers. This case signals tougher scrutiny on fintech and remittance companies—regulators are pushing for more transparency and stronger consumer protections in digital payments.

Fintech is booming—but so are the crackdowns.

Corporate profits just hit 15.7% of national income—one of the highest levels in years! 🚀

🔹 Quick Look:

2010: 14.4% profit share

2019: 13.6%

2025: 15.7% and still climbing!

🔹 What It Means:

For Consumers: Higher profits don’t always mean higher wages. Watch for growing income gaps.

For Investors: Rising profits = potential investment opportunities 📈

For Policymakers: Time to think about how to balance growth with fairness ⚖️

🔹 Big Picture:
Companies are making more money, but the benefits might not be reaching everyone equally.

Stay smart, stay informed! 🧠💡

📊 $33.7B in Lendable Proceeds: How Government Bonds Fund Public Projects

In 2021, long-term tax-exempt governmental bonds generated $33.7 billion in lendable proceeds.

🔹 General Purpose Bonds led the way, with $17.31 billion in proceeds—over 50% of total funding.
🔹 Education projects followed with $5.23 billion, showing strong investment in schools.
🔹 Utilities and transportation bonds also played key roles, securing $2.47B and $1.57B respectively.
🔹 Bond issuance costs and credit enhancements significantly reduced the final funds available for projects.

Takeaway: Infrastructure, education, and utilities remain top priorities—but issuing bonds comes with big costs.

🚨 Arizona Couple Pleads Guilty in $1.2 Billion Health Care Fraud Scheme

An Arizona couple has pleaded guilty to orchestrating a $1.2 billion health care fraud—the largest of its kind in U.S. history! They faked medical claims, scammed Medicare and Medicaid, and laundered millions to fund luxury homes, private jets, and expensive jewelry.

Now facing decades in prison, this case marks a major victory for the DOJ’s crackdown on large-scale health care fraud.

From fake claims to luxury living—crime caught up with them fast.

Thinking about moving for work? 🏡📈
This new BLS report shows where the hottest jobs are—and what kind of work you’ll find!

➡️ Booming Cities (Austin, Orlando, Phoenix):

Tons of construction, retail, and food service jobs 🍔🏗️

Wages are a bit lower, but jobs are growing fast.

➡️ Slow-Growing Cities (Detroit, Pittsburgh, Buffalo):

More healthcare, education, and manufacturing jobs 🏥🏭

Wages are a little higher because of demand for skilled work.

💡 Quick Takeaways:

Fast-growing cities = more jobs, slightly lower pay

Slow-growing cities = older populations, healthcare jobs booming

Tech hubs (Austin, Raleigh) are taking off 🚀

Tourism cities (Orlando, San Antonio) have more no-degree jobs

Why It Matters:
Where people move, jobs follow.
If you're chasing opportunity, know which cities match your skills and goals! 🔍

📈 Risk Appetite Grows in CCC-Rated Bond Market

Investors are showing renewed interest in CCC-rated bonds (the riskiest corporate debt), even after a spike in spreads in 2022.

🔹 Spreads surged during 2022 market stress but have tightened steadily through 2025.
🔹 Volatility is calming, and selective demand for high-risk debt is emerging.
🔹 CCC spreads remain elevated compared to broader high-yield bonds, but the gap is narrowing.

Takeaway: Risk appetite is back, but investors are picking their spots carefully.

🚨 Former Texas Deputy Sentenced for Aiding Drug Traffickers in Fake Co***ne Busts

A former Texas deputy sheriff, Baldemar Cardenas, was sentenced to 46 months in federal prison for helping drug traffickers stage a fake co***ne bust to cover up real co***ne thefts. Instead of upholding the law, Cardenas assisted criminals in selling stolen co***ne while lying to authorities about a confidential tip.

The case, part of an OCDETF operation, highlights the growing threat of corrupt law enforcement aiding drug cartels. It also shows how fake drug busts are being used to manipulate law enforcement and the public.

Public trust takes a major hit when officers cross the line. Cardenas now faces prison time—and the system is cracking down on law enforcement corruption harder than ever.

When banks fail, you’d think risk disappears... but nope! 🚫 Instead, surviving banks pick up the mess.
This BLS report shows that during the Great Depression, 38% of banks shut down, but the risk didn’t go away — it just moved to the bigger banks that survived. 🏦➡️🏦
Fast forward to today? Same story!
Big mergers = more risk in fewer hands.
Lesson: Just because a crisis "fixes" banks doesn’t mean it fixes the system.
👉 Watch for hidden risks after big bank failures!
👉 Regulators, businesses, and consumers need to stay sharp.

Final vibe: Crises shuffle the cards, but the deck is still loaded. 🎴

📈 Corporate Bond Spreads Return to Pre-Pandemic Confidence Levels

Corporate bond spreads are very low at 0.85% in 2025, signaling strong market confidence.

🔹 Spreads surged in 2022 due to rate hikes and recession fears.
🔹 Since 2023, spreads have tightened sharply, returning to calmer, pre-pandemic levels.
🔹 Investor confidence is back—corporate bonds are much healthier than other sectors like commercial real estate or consumer loans.

Markets have moved from post-pandemic turbulence to steady normalization.

🚨 FBI Cyber Crime Alert
A Maryland man was found guilty of laundering $246,390 stolen from a victim’s 401(k) via computer intrusions. He and his co-conspirators funneled the funds through cashier’s checks, ATM withdrawals, and business accounts to conceal their tracks.

This conviction highlights a growing trend: cybercriminals targeting retirement accounts for big payouts. It also underscores the importance of two-factor authentication, regular account monitoring, and stronger security measures from financial institutions.

Stay vigilant—your retirement savings could be their next target.