[ad_1] Democrats are currently considering including a tax break for the wealthy in the reconciliation bill — but Sen. Bernie Sanders (I-Vermont) has rejected the proposal, calling the idea “beyond unacceptable.” Democrats are debating adding a repeal of the SALT tax deduction cap for five years in their Build Back Better Act. Under the current
Wealthy
[ad_1] When Lawrence Summers tweeted on Sunday that he is “certainly no left wing ideologue,” it wasn’t a Halloween joke. Summers is a famous academic who served as Chief Economist of the World Bank and President of Harvard University. He was influential in crafting the economic policies for two center-left Democratic presidents — Bill Clinton (serving in
[ad_1] by ANDREW HENDERSON || Crucial to President Biden’s $3.5 trillion agenda is a wide range of tax penalties targeting the wealthy, broadly defined as households with incomes over $400,000 (“the usual targets”). Democrats claim the only targets are wealthy Americans, who face higher rates and closed loopholes. For example, the Biden administration’s “American Families
[ad_1] Companies and wealthy individuals can legally keep money in tax havens, while avoiding higher taxes at home. And some tax havens are more popular than others. Campaign group Tax Justice Network has compiled a Financial Secrecy Index for global tax havens, scoring each country on offshore financial services and secrecy. Secrecy scores were calculated
[ad_1] Plain and simple: our economic system is rife with inequality. Fairness often takes a back seat when a large number of dollars are at stake, which means we must work to level the playing field and rebuild our economy in a fair and equitable manner, starting with the federal tax code. We have all
[ad_1] While President Joe Biden and Congress try to figure out how to pass his major spending initiatives — and to what extent they’ll be passed — Democrats also intend to implement another major change in federal income tax policy as part of the process. And Biden and virtually all Democrats in Congress have made
[ad_1] ANALYSIS/OPINION: For years, the left has tried to perpetuate the falsehood that the wealthy are not paying their “fair share” of America’s income tax burden.During the past few weeks, President Joe Biden and several congressional Democrats have hammered this talking point, claiming that if the so-called wealthy simply paid their “fair share,” the Democrats’
[ad_1] Wealthy South Florida residents are competing for all the trappings of exclusivity. Demand for luxe living, private schools, and social clubs in Miami and Palm Beach has skyrocketed. Insider outlined the schools and social clubs coveted by transplants who moved during the pandemic. South Florida is the new Wall Street, according to some. To
[ad_1] I began writing the Wealth Matters column in December 2008. The column was conceived earlier that year, when the economy still appeared to be running high. But by the time the first one ran, the economy was deep in crisis, and Americans were worried about their investments, their savings and, in many cases, their
[ad_1] People of ordinary means — 75% of Americans — are in need of quality financial advisors, but the financial services industry has largely snubbed them, argues Jason Wenk, founder and CEO of Altruist, in an interview with ThinkAdvisor. “Great advice has gotten more exclusive, not more inclusive,” he says. “What we’ve seen in the last couple of