The Senate’s top tax writer unveiled plans to create a special new tax on the uber wealthy that he hopes Democrats will use to help pay for their next big spending package. Finance Chair Ron Wyden (D-Ore.) wants to begin…
President Joe Biden said Tuesday he intends to announce his nominees to the Federal Reserve board “fairly quickly” but declined to say whether he will replace Fed Chair Jerome Powell. Biden told reporters in Glasgow that he’d given a lot…
The longtime head of one of Washington’s biggest bank lobbying groups is stepping down. Richard Hunt, who has led the Consumer Bankers Association since June 2009, told the group’s board of directors Wednesday morning that he plans to leave the…
NEW YORK — The stock market is soaring. Company and household bottom lines look strong. Yet corporate executives across the U.S. are obsessing over inflation — and some think the White House isn’t grasping the extent of the problem. Spiking…
By rebranding itself as Meta, Facebook named itself an evil empire. It did so on purpose, and quickly enough to express its long-time motto, “Move fast and break things,” which, investors take note, is the antithesis of a long-term strategy.…
Democrats are proposing the first-ever tax on corporate stock buybacks. Wall Street is yawning. Market veterans say the 1 percent levy lawmakers aim to include in their reconciliation package isn’t big enough to make a difference to most companies. “It’s…
Democrats are struggling with a huge problem that could sink them at the ballot box: They may end up looking more sympathetic to rich people than Republicans. After spending several election cycles campaigning against the GOP’s tax cuts as a…
Hedge fund billionaire and GOP megadonor Ken Griffin secured a copy of the U.S. Constitution this week with a $43.2 million auction bid that beat out thousands of crypto users who banded together to acquire the extremely rare first-run printing.…
Analysts say they expect total buybacks this year to approach levels unseen since shortly after Republicans slashed the corporate tax rate as part of their 2017 tax cuts. Democrats are proposing the first-ever tax on corporate stock buybacks. Wall Street…
Five years ago, the question of wealth inequality was already a dominant issue in the news. The COVID-19 pandemic may have eclipsed it temporarily but it also exaggerated its effects. Wealth inequality will continue to maintain its place in public debate for…