How the wealthy are preparing for higher taxes

izusek | E+ | Getty Images To pay for a historic and sweeping expansion of the social safety net, President Joe Biden and Democrats are planning to slap wealthy Americans with higher taxes. In response, financial advisors and their well-off clients are also scheming. Specifically, they’re looking at moves they…

‘Tax the Rich’ Mantra Is Rooted in Sociology, Not Economics | RealClearPolitics

Alexandria Ocasio-Cortez’s recent Met Gala dress sparked a renewed conversation on the perceived fairness of “the rich” paying their “fair share” in taxes. This leads to questions about who decides “fairness,” and how much that “fair” amount should be. Before going further, we need to consult the facts, according to the nonpartisan Congressional…

Jeff Bezos pledges $1 billion toward preserving 30% of Earth’s land and sea

Jeff Bezos on Monday pledged to give $1 billion to global conservation efforts, as part of a $10 billion effort to battle climate change. In a statement, the Bezos Earth Fund said the $1 billion will play a key role in carrying out the “30×30” commitment — protecting 30% of…

After years of being ‘squeaky clean,’ the Federal Reserve is surrounded by controversy

The Marriner S. Eccles Federal Reserve building in Washington, D.C., on Friday, Sept. 17, 2021. Stefani Reynolds | Bloomberg | Getty Images The Federal Reserve has a big meeting on tap next week, one that will be held under the cloud of an ethical dilemma and will be run by…

FDIC teams up with Microsoft and Truist to create fund to invest in minority-owned banks

Jelena McWilliams, chair of the Federal Deposit Insurance Corporation (FDIC), speaks during a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, D.C., U.S., on Tuesday, Aug. 3, 2021. Al Drago | Bloomberg | Getty Images The Federal Deposit Insurance Corp. will unveil this week a new investment fund…

Democrats shift blame for Afghanistan withdrawal chaos to Trump

Washington, DC – As Democrats in the United States scramble to defend the Biden administration against growing criticism for the country’s chaotic withdrawal from Afghanistan, a new tactic is emerging: highlighting former President Donald Trump’s role. At a congressional hearing on Monday, US Secretary of State Antony Blinken stressed that…

House Democrats may propose raising corporate tax rate to 26.5%

WASHINGTON — House Democrats expect to propose raising the corporate tax rate to 26.5% from 21% and imposing a 3 percentage-point surtax on individual income above $5 million, according to a House Democratic aide familiar with the plans. The tax increases would be part of the House Ways and Means…