Dimensions | E+ | Getty Images A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. The tightening presidential race has touched off a wave of tax planning by ultra-wealthy investors, especially given fears of a higher…
Vice President Kamala Harris boards Air Force Two at Joint Base Andrews in Maryland, Sept. 4, 2024. Erin Schaff | The New York Times | Via Reuters Vice President Kamala Harris on Wednesday proposed a 28% tax on long-term capital gains for households with an annual income of $1 million or more, lower than the 39.6% rate President Joe…
Democratic presidential nominee and U.S. Vice President Kamala Harris delivers remarks at a campaign rally in Savannah, Georgia, U.S., August 29, 2024. Elizabeth Frantz | Reuters Vice President Kamala Harris on Wednesday will unveil a new proposal to provide small businesses with a $50,000 tax deduction for startup expenses, ten times the current $5,000 allowable deduction, according to a…
Crypto investors are having a mild existential crisis as demand for the young asset class dries up in the midst of a bull market. In the past month, search interest in crypto has been muted, network activity has been subdued and futures funding rates briefly went negative. Ether ETFs, which began trading a little over a month ago, have…
Former President Donald Trump’s economic proposals would increase federal deficits by $5.8 trillion over the next decade, almost five times more than those of Vice President Kamala Harris, which would add $1.2 trillion, according to a new pair of studies from the nonpartisan Penn Wharton Budget Model. The Trump report found that his plan to permanently extend the 2017…
Republican presidential nominee and former U.S. President Donald Trump speaks during a visit to the Livingston County Sheriff’s Office in Howell, Michigan, U.S., August 20, 2024. Rebecca Cook | Reuters Republican presidential nominee Donald Trump is waffling on whether he will debate with Vice President Kamala Harris as previously agreed. And their campaigns are squabbling over terms for the…
Democratic presidential nominee and U.S. Vice President Kamala Harris takes the stage on Day 4 of the Democratic National Convention (DNC) at the United Center in Chicago, Illinois, U.S., August 22, 2024. Kevin Lamarque | Reuters WASHINGTON — The Harris campaign announced Sunday that it and its allies raised a combined $40 million on the heels of Vice President Kamala Harris’…
Vice President Kamala Harris said Republican presidential nominee Donald Trump “wants to be an autocrat,” as she accepted the Democratic presidential nomination in Chicago on Thursday night. “I will not cozy up to tyrants and dictators like Kim Jong-Un, who are rooting for Trump,” said Harris. “Because they know he is easy to manipulate with flattery and favors,” the…
A smartphone displays the logo of Donald Trump’s Truth Social app on March 25, 2024. Anna Barclay | Getty Images Former President Donald Trump will soon be free to start unloading his multibillion-dollar stake in his fledgling social media startup, Trump Media. But the potential payday — Trump’s stake comprises more than half of his on-paper net worth, per…
Minnesota Gov. Tim Walz told the Democratic National Convention on Wednesday night that he and Vice President Kamala Harris will ‘turn the page on Donald Trump.” “We’ve got something better to offer the American people,” said Walz, as he accepted the Democratic nomination in Chicago to be Harris’ running mate. In a brisk, energetic speech, Walz recounted his personal…