(Bloomberg) — Wealthy Americans, who were girding for the biggest set of tax increases in three decades just a year ago, now look mostly safe from higher levies for years to come. But there’s one big, glaring exception: investment fund managers. If Democrats succeed in passing Wednesday’s surprise fiscal deal between Senate Majority Leader Chuck […]
Read MoreTesla’s visionary CEO Elon Musk can add another distinction to his list of record achievements—although it’s likely to be one he won’t relish. The wealthiest human to ever walk the earth posted on Twitter he will fork over more than $11 billion to the U.S. government this year, a tax bill that just may be […]
Read More(Bloomberg) — An exceptional year for wealthy Americans, at least in terms of their financial health, just got better. If West Virginia Senator Joe Manchin votes against President Joe Biden’s signature economic package, as he said he would on Sunday, rich Americans will escape any tax hikes, saving the top 0.1% hundreds of billions of […]
Read MoreThe latest version of the Build Back Better Act, which the House could vote on a soon as this week, includes a controversial tax break that would overwhelmingly benefit high-income households, though whether it will survive revisions in the Senate is still an open question. Pushed by lawmakers from high-tax states, House Democrats are proposing […]
Read MoreMitt Romney says a billionaire tax will trigger demand for these two assets — get in now before the super-rich swarm Not everyone is a fan of massive government spending. Sen. Mitt Romney (R-Utah), for instance, told Fox News last week that the Democrats “are pretty desperate” to pass President Joe Biden’s spending bill, which […]
Read MoreElon Musk, the world’s richest man, took to Twitter overnight to savage the so-called billionaire tax proposal that’s dividing Washington over ideological lines and is dominating the discourse on social media too. The tax idea, which would target the 700 richest U.S. taxpayers, was dreamed up to finance President Joe Biden’s $2 trillion “Build Back […]
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