When Selena Gomez launched Rare Beauty back in 2020, the message was simple: break down previous notions that everyone must be perfect, and shine a light on mental health issues.
While this may have broken every budding makeup brand’s dream, brands like Fenty Beauty shared similar, groundbreaking mission statements: bolster inclusivity in the makeup industry and force all brands to do the same in the process.
Inspired by her 2020 album, Rare, Rare Beauty began with the basics: 48 foundation shades, lip balms and matte lip creams, eyebrow definers, and the icon, liquid blush. Four years later, it’s hard to imagine a more viral, innovative celebrity makeup brand that remains in stride with Fenty.
Quickly, the Rare Beauty Soft Pinch Liquid Blush became TikTok’s go-to staple product. And no one can deny there is no blush on the market that is as pigmented, easily blendable, and long-lasting as this one. Selena Gomez has proven herself a bonafide content creator with her charismatic social media posts for fun Rare Beauty launches like an under-eye brightener, an SPF-laden tinted moisturizer, and lip combos.
Not only is Rare Beauty inclusive in shade range, but the spherical shape of the top of their products is disability-friendly.
As of 2024, Rare Beauty is a $2 billion company. But what sets this company apart is their attention to detail and true dedication to bettering the world. The same year that Rare Beauty was founded, the Rare Impact Fund was also created.
What Is The Rare Impact Fund?
In a statement by Gomez on the Rare Impact Fund’s website, she states,
“The Rare Impact Fund is committed to expanding access to mental health services and education for young people everywhere. We work with a strong network of supporters and experts to bring mental health resources into educational settings to reach young people.
Because no one– regardless of age, race, gender, sexual orientation, or background - should struggle alone.”
Upon their start, the Rare Impact Fund committed to raising $100 million by 2030. Along with corporate sponsorships and donations from individuals, 1% of proceeds from all Rare Beauty sales go towards the charity as well. By 2021, they had donated over $1.2 million in grants to eight mental health institutions including Yale Center for Emotional Intelligence.
In 2021, the Rare Impact Fund launched a GoFundMe for their new Mental Health 101 initiative. According to the GoFundMe,
“Mental Health 101 advocates for more mental health in education, empowers our community, and encourages financial support for more mental health services in educational settings through the Rare Impact Fund,”
Promising to match up to $200,000 in donations, to date the GoFundMe has raised over $500,000 and has donations from less than six months ago.
How The Rare Impact Fund Works
By leveraging both Selena Gomez’s millions of social media followers and the four million people who follow Rare Beauty on Instagram, the Rare Impact Fund quickly trickles into visibility. Suddenly, fans of the brand and Gomez alike can help make a difference by donating even a few dollars in honor of their favorite actress-singer extraordinaire.
As of 2023, the Rare Impact Fund helped grantees like UCLA Friends of Semel Institute, Batyr, La Familia, Mindful Life Project, Black Teacher Project, and Trans Lifeline. According to the website, they have raised $6 million in contributions and distributed $3 million in grant support so far.
Rare Beauty and the Rare Impact Fund alone are blazing a trail for all brands: you can make a change while still distributing high-quality products — and it pays off.
The Truth About Elizabeth Warren's and Alexandria Ocasio-Cortez's Wealth Tax Proposals
Who would they affect?
There has been a lot of recent buzz about the idea of a "wealth tax" in the United States, particularly since Rep. Alexandria Ocasio-Cortez of New York appeared on "60 Minutes" and laid out a plan that would tax the richest Americans at a rate as high as 70%, nearly doubling the current 37% top rate. Additionally, 2020 Democratic Presidental candidate and Massachusetts senator, Elizabeth Warren, is reportedly working with UC Berkeley economists Emmanuel Saez and Gabriel Zucman to design a proposal to levy a wealth tax on Americans with fortunes over $50 million. While these numbers may seem difficult to grasp, the kinds of wealth taxes democrats are proposing are not only not as extreme as they sound, but already practiced successfully in other parts of the world.
Firstly, it's important to keep in mind that America operates on a progressive tax system, meaning, as Business Insider puts it, "as a person earns more and progresses through tax brackets, their tax rate increases for each level of income." So while many people balked at the idea of a 70% flat tax rate, Ocasio-Cortez clarified "Once you get to the tippy-tops, on your 10 millionth dollar, sometimes you see tax rates as high as 60% or 70%," she said. "That doesn't mean all $10 million are taxed at an extremely high rate. But it means that as you climb up this ladder, you should be contributing more." Essentially, the rich would not suddenly be destitute under this proposed plan; they would merely have to contribute an increasing amount as their fortune grew. So it wouldn't be the entirety of their $10 million fortune that would be taxed at 70%, but their 10 millionth dollar. While under Warren's proposal, the US would adopt a progressive wealth tax that would levy a 2 percent tax on fortunes worth more than $50 million, and a 3 percent tax on fortunes worth more than $1 billion, meaning billionaires would contribute amounts that are negligible in the context of their total fortune.
This would be similar to France's wealth tax policy, which is triggered at €1.3 million, but only the first €800,000 of this amount is tax free, and taxpayers pay between 0.5% and 1.5% on anything over this each year. This tax has worked successfully in France, despite it being applied to significantly lower amounts of wealth than Elizabeth Warren is proposing. Meanwhile, in Denmark, the highest tax bracket sees about 15% taxation, and citizens report great satisfaction in terms of quality of life and government services. In summary, wealth taxes are a simple and effective way to ensure that wealth does not become too heavily monopolized by a few people, while also ensuring that the poorest people are taken care of by the state.
But some don't see it that way, with many on the right reacting strongly to suggestions of an American wealth tax. House Republican whip Steve Scalise called Ocasio-Cortez's idea a "leftist fantasy program," while more moderate voices didn't react quite as strongly, but still suggested that while income tax laws definitely need to be reformed, a wealth tax is not the way to do it.
But to truly understand the argument, one has to compare what a wealth tax would mean to a real life billionaire, vs. what it would mean for the country. For example, with Warren's plan, only an approximate 75,000 families would be minorly affected, but the United States would earn an additional $2.75 trillion over a 10-year period. If you take the $57 billion fortune of Mark Zuckerberg, and apply this tax idea, he would only be taxed $1.7 billion, and then close to $0 in the following years if his fortune didn't continue to accumulate. For him, $1.7 billion is a small number that would in no way affect his quality of life. But if you think of the social services that would benefit from that $1.7 billion, you would undoubtedly see widespread effects improving the lives of the poorest Americans, making it difficult to argue that an American wealth tax would do anything but help the state of the nation.
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