Biden Will Seek Tax Increase on Rich to Fund Child Care and Education

The president’s American Family Plan, which remains in flux, does not currently include an effort to expand health coverage, as administration officials had previously planned.

#american-jobs-plan-2021, #biden-joseph-r-jr, #federal-taxes-us, #high-net-worth-individuals, #income-tax, #infrastructure-public-works, #tax-credits-deductions-and-exemptions, #united-states-economy, #united-states-politics-and-government

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Biden Set to Raise Taxes on Rich to Fund Child Care and Education

The president’s American Family Plan, which remains in flux, does not currently include an effort to expand health coverage, as administration officials had previously planned.

#biden-joseph-r-jr, #federal-taxes-us, #high-net-worth-individuals, #income-tax, #united-states-economy, #united-states-politics-and-government

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The European Super League: Ruining Football, American-Style

Billionaire owners. Disloyalty. Hunger for profit. The plan for the European Super League was, in fact, made in America.

#athletics-and-sports, #europe, #high-net-worth-individuals, #kroenke-stan, #soccer, #uefa-champions-league-soccer

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Dozen Megadonors Gave $3.4 Billion, One in Every 13 Dollars, Since 2009

A new study shows the role of the super rich in politics since the Supreme Court loosened restrictions on political spending more than a decade ago.

#adelson-sheldon-g, #bloomberg-michael-r, #campaign-finance, #high-net-worth-individuals, #united-states-politics-and-government

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Why Did Rich People Leave New York City During the Pandemic?

Sure, the tax revenue is nice. But ….

#coronavirus-2019-ncov, #gentrification, #high-net-worth-individuals, #new-york-city, #quarantine-life-and-culture, #shutdowns-institutional

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For New York City Rich Who Fled, a Bronx Cheer

Sure, the tax revenue is nice. But ….

#coronavirus-2019-ncov, #gentrification, #high-net-worth-individuals, #new-york-city, #quarantine-life-and-culture, #shutdowns-institutional

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Top Bidder for Tribune Newspapers Is an Influential Liberal Donor

The Swiss billionaire Hansjörg Wyss helped build a sophisticated behind-the-scenes operation that attacked Republicans and promoted Democratic causes.

#acronym-nonprofit, #alden-global-capital, #bainum-stewart-jr, #campaign-finance, #high-net-worth-individuals, #news-and-news-media, #newspapers, #nonprofit-organizations, #philanthropy, #tribune-publishing-company, #united-states-politics-and-government, #wyss-hansjorg

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New York, Finally, Taxes the Rich

A budget that spends on education, homelessness and undocumented immigrants is the product of years of progressive politics, not a governor looking for a diversion.

#budgets-and-budgeting, #cuomo-andrew-m, #high-net-worth-individuals, #income-tax, #new-york-city, #new-york-state, #politics-and-government, #state-legislatures

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Why Buy a Yacht When You Can Buy a Newspaper?

Billionaires aren’t usually cast as saviors of democracy. But one way they are winning plaudits for civic-minded endeavors is by funding the Fourth Estate.

#alden-global-capital, #bainum-stewart-jr, #boston-globe, #high-net-worth-individuals, #los-angeles-times, #minneapolis-star-tribune, #news-and-news-media, #newspapers, #nonprofit-organizations, #philanthropy, #salt-lake-tribune, #soon-shiong-patrick, #tribune-publishing-company, #washington-post, #wyss-hansjorg

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Curtains Up for the One Percent

While many Americans were stockpiling toilet paper and Clorox, the rich bought houses, sparking a gold rush in the decorating trades.

#beverly-hills-calif, #design, #high-net-worth-individuals, #home-appliances, #home-repairs-and-improvements, #interior-design-and-furnishings, #luxury-goods-and-services, #palm-beach-fla, #quarantine-life-and-culture, #real-estate-and-housing-residential, #real-estate-brokers, #san-antonio-tex, #sea-island-ga

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With a Big Tax Break, Hong Kong Tries to Soothe the Rich

Beijing, which can’t afford to let its attack on civil liberties scare away global banks and financiers, is offering them a big tax break and other perks.

#bank-of-america-corporation, #banking-and-financial-institutions, #cambridge-associates-llc, #china, #communist-party-of-china, #credit-suisse-group-ag, #goldman-sachs-group-inc, #hedge-funds, #high-net-worth-individuals, #hong-kong, #hsbc-holdings-plc, #morgan-stanley, #regulation-and-deregulation-of-industry, #taxation

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NY Reaches Deal on $212 Billion Budget to Jump-Start Economic Recovery

Gov. Andrew M. Cuomo and the Legislature have agreed to raise taxes on the wealthy and give aid to renters, businesses and undocumented immigrants.

#budgets-and-budgeting, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #cuomo-andrew-m, #high-net-worth-individuals, #income-tax, #new-york-state, #politics-and-government, #state-legislatures, #taxation, #unemployment-insurance

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New York Reaches Deal on $212 Billion Budget to Jump-Start Recovery

Gov. Andrew M. Cuomo and the Legislature have agreed to raise taxes on the wealthy and give aid to renters, businesses and undocumented immigrants.

#budgets-and-budgeting, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #cuomo-andrew-m, #high-net-worth-individuals, #income-tax, #new-york-state, #politics-and-government, #state-legislatures, #taxation, #unemployment-insurance

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How Many Is a Trillion?

We hear about trillions all the time now, but the number is beyond human comprehension.

#amazon-com-inc, #american-rescue-plan-2021, #bezos-jeffrey-p, #high-net-worth-individuals, #stimulus-economic, #two-thousand-tens-decade

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New York State Is Set to Raise Taxes on Those Earning Over $1 Million

The deal, a sign of Gov. Andrew Cuomo’s weakened influence, would mean wealthy New York City residents would pay the highest combined local tax rate in the nation.

#budgets-and-budgeting, #corporate-taxes, #cuomo-andrew-m, #high-net-worth-individuals, #income-tax, #new-york-state, #taxation

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An Argument for Investing Where the Return Is Social Change

A new report makes the case for investments that consider impact first and financial return second. But critics say such investments are mainly for the wealthy.

#bain-capital, #content-type-service, #high-net-worth-individuals, #investing-and-investments, #omidyar-network, #omidyar-pierre-m, #personal-finances, #philanthropy, #stocks-and-bonds

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A Billionaire Names His Team to Ride SpaceX, No Pros Allowed

Meet the four people who will take the first all-civilian rocket trip to orbit Earth.

#arceneaux-hayley, #christopher-sembroski, #contests-and-prizes, #high-net-worth-individuals, #isaacman-jared-1983, #musk-elon, #private-spaceflight, #rocket-science-and-propulsion, #sian-proctor, #space-and-astronomy, #space-exploration-technologies-corp, #st-jude-childrens-research-hospital

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P.S.G. Robberies Cast Light on Soccer’s Security Problem

A string of robberies at the homes of soccer stars has cast a spotlight on the wealthy athlete’s newest luxury items: protection dogs, private guards and even panic rooms.

#di-maria-angel, #england, #english-premier-league, #high-net-worth-individuals, #italy, #paris-france, #paris-st-germain-fc-soccer-team, #robberies-and-thefts, #security-and-warning-systems, #service-dogs-and-other-animals, #soccer, #spain

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Whistle-Blower Says Credit Suisse Helped Clients Skip Taxes After Promising to Stop

A former bank employee contends that the Swiss bank continued to help American clients avoid taxes long after its 2014 plea deal with the U.S. government

#boente-dana-j, #cole-james-m, #credit-suisse-group-ag, #dougan-brady-w, #federal-taxes-us, #high-net-worth-individuals, #internal-revenue-service, #justice-department, #tax-evasion, #tax-shelters, #united-states-politics-and-government, #whistle-blowers, #wray-christopher-a

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It May Be Time to Start Worrying About the Estate Tax

Most people have been able to pass on assets like a family home without federal tax, but that could be changing.

#biden-joseph-r-jr, #content-type-service, #federal-taxes-us, #high-net-worth-individuals, #inheritance-and-estate-taxes, #personal-finances, #real-estate-and-housing-residential, #tax-credits-deductions-and-exemptions, #tax-shelters, #taxation, #wills-and-estates

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How Do Silicon Valley Techies Celebrate Getting Rich in a Pandemic?

Not by buying airplanes. Instead, the newest start-up millionaires are proceeding cautiously.

#airbnb, #high-net-worth-individuals, #initial-public-offerings, #quarantine-life-and-culture, #silicon-valley-calif, #start-ups

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MacKenzie Scott, a Philanthropist and Ex-Wife of Jeff Bezos, Remarries

Her new husband, Dan Jewett, is a high school science teacher. He has pledged to work with her in giving away much of her billions.

#amazon-com-inc, #bezos-jeffrey-p, #content-type-personal-profile, #divorce-separations-and-annulments, #gifts, #giving-pledge-the, #high-net-worth-individuals, #marriages, #philanthropy, #scott-mackenzie, #seattle-wash

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Warren Revives Wealth Tax, Citing Pandemic Inequalities

A tax on the net worth of America’s wealthiest individuals remains popular with voters, but has yet to be embraced by President Biden.

#coronavirus-2019-ncov, #federal-taxes-us, #high-net-worth-individuals, #senate, #taxation, #united-states-economy, #united-states-politics-and-government, #warren-elizabeth

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Is New York Finally Ready to Tax the Rich?

It only took a pandemic and 16 percent unemployment to find the political will to do so.

#cuomo-andrew-m, #high-net-worth-individuals, #income-inequality, #occupy-wall-street, #taxation

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After Amazon, What’s Next for Jeff Bezos?

The legacies of John D. Rockefeller and Andrew Carnegie offer hints about what could be next for Amazon’s founder.

#bezos-jeffrey-p, #computers-and-the-internet, #high-net-worth-individuals, #philanthropy, #rockefeller-john-d

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The Down Side to Life in a Supertall Tower: Leaks, Creaks, Breaks

432 Park, one of the wealthiest addresses in the world, faces some significant design problems, and other luxury high-rises may share its fate.

#432-park-avenue-manhattan-ny-restaurant, #billionairesrow-manhattan-ny, #building-construction, #cim-group, #condominiums, #douglas-elliman-real-estate, #elevators-and-escalators, #high-net-worth-individuals, #macklowe-properties, #new-york-city, #quarantine-life-and-culture, #real-estate-and-housing-residential

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To Get on This SpaceX Flight, You Don’t Have to Be Rich, Just Lucky

Jared Isaacman, 37-year-old founder of Shift4 Payments, is chartering a trip to orbit and raffling a seat to a random winner to raise money for childhood cancer research.

#axiom-space-inc, #contests-and-prizes, #high-net-worth-individuals, #isaacman-jared-1983, #national-aeronautics-and-space-administration, #private-spaceflight, #rocket-science-and-propulsion, #shift4-payments-llc, #space-and-astronomy, #space-exploration-technologies-corp, #st-jude-childrens-research-hospital, #travel-and-vacations

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Elon Musk, GameStop and the C.E.O. as Internet Troll

The billionaire Mr. Musk has inserted himself into the confounding stock market drama and solidified his role as the ultimate insider outsider.

#content-type-personal-profile, #gamestop-corporation, #high-net-worth-individuals, #musk-elon, #reddit-inc, #short-selling, #social-media, #stocks-and-bonds, #tesla-motors-inc, #twitter

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As Bitcoin’s Price Surges, Affluent Investors Start to Take a Look

Cryptocurrencies, originally a way to conduct business outside the financial system, are increasingly seen as an asset akin to private equity or venture capital.

#bitcoin-currency, #content-type-service, #high-net-worth-individuals, #mtgox-co-ltd, #regulation-and-deregulation-of-industry, #virtual-currency, #wills-and-estates

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Who Will Pay to Get America Back on Its Feet?

A one-time tax on those who have made lots of money during the pandemic may be an answer.

#amazon-com-inc, #antitrust-laws-and-competition-issues, #coronavirus-2019-ncov, #facebook-inc, #high-net-worth-individuals, #income-inequality, #social-media, #taxation

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What Jeffrey Epstein Did to Earn $158 Million From Leon Black

Mr. Epstein specialized in aggressively pitching ways to minimize paying taxes. And not just to Mr. Black, the private equity chief executive who was his main benefactor in his later years.

#apollo-global-management, #black-leon-d, #epstein-jeffrey-e-1953, #federal-taxes-us, #high-net-worth-individuals, #wills-and-estates

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Who Owns Stocks? Explaining the Rise in Inequality During the Pandemic

Bad economies usually hurt both workers and investors. Only the first part has been true this time.

#black-people, #coronavirus-2019-ncov, #high-net-worth-individuals, #income-inequality, #labor-and-jobs, #recession-and-depression, #stocks-and-bonds, #united-states-economy

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A Child of China’s Gilded Elite Strikes a Nerve Over Wealth and Privilege

The youngest daughter of the founder of the telecommunications giant Huawei debuted a documentary, a magazine cover and a music video — and the response was savage.

#annabel-yao, #china, #content-type-personal-profile, #high-net-worth-individuals, #huawei-technologies-co-ltd, #meng-wanzhou, #ren-zhengfei

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The Estate Tax May Change Under Biden, Affecting Far More People

In contrast to previous changes, the tax code could be modified in a way that affects everyone who has something of value to leave to heirs.

#biden-joseph-r-jr, #capital-gains-tax, #content-type-service, #federal-taxes-us, #high-net-worth-individuals, #inheritance-and-estate-taxes, #personal-finances, #united-states-politics-and-government, #wills-and-estates

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McGuire, Wall Street Favorite, Raises $5 Million and Jolts Mayor’s Race

New York’s business community is coalescing behind Raymond J. McGuire, an ex-Wall Street executive, but the support may turn off some left-leaning voters.

#campaign-finance, #democratic-party, #elections-mayors, #high-net-worth-individuals, #mcguire-raymond-j, #new-york-city, #primaries-and-caucuses

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It’s Mother vs. Son in Britain’s Priciest Divorce War

Tatiana Akhmedova is trying to recoup part of a $615 million judgment owed by her ex-husband by suing her elder child, who she says has been shielding his father’s assets.

#akhmedov-farkhad, #akhmedov-temur, #akhmedova-tatiana, #burford-capital-llc, #divorce-separations-and-annulments, #great-britain, #high-net-worth-individuals, #northgas-cjsc, #russia, #suits-and-litigation-civil

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What Giant Skeletons and Puppy Shortages Told Us About the 2020 Economy

This year was awful, but it gave rise to some interesting social trends. Here’s what they tell us about the economic future.

#consumer-behavior, #coronavirus-2019-ncov, #high-net-worth-individuals, #income-inequality, #luxury-goods-and-services, #millennial-generation, #pop-and-rock-music, #quarantine-life-and-culture, #real-estate-and-housing-residential, #shopping-and-retail, #social-media, #united-states-economy

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How Lin Qi’s Poisoning Death Shocked China

The “billionaire millennial” Lin Qi was working with Netflix and the “Game of Thrones” creators to bring a Chinese best seller to the screen. The police have a suspect, and fans have questions.

#books-and-literature, #china, #game-of-thrones-tv-program, #high-net-worth-individuals, #lin-qi, #murders-attempted-murders-and-homicides, #netflix-inc, #science-fiction, #television, #the-three-body-problem-book

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Giving Billions Fast, MacKenzie Scott Upends Philanthropy

Through a streamlined operation, Ms. Scott has given away $6 billion this year, much of it to small charities and nonprofits.

#bezos-jeffrey-p, #bezos-mackenzie, #endowments, #high-net-worth-individuals, #nonprofit-organizations, #philanthropy

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MacKenzie Scott Announces $4.2 Billion More in Charitable Giving

“She’s disrupting the norms around billionaire philanthropy by moving quickly,” an expert on charities said.

#amazon-com-inc, #bezos-jeffrey-p, #bezos-mackenzie, #black-people, #coronavirus-2019-ncov, #endowments, #high-net-worth-individuals, #historically-black-colleges-and-universities, #nonprofit-organizations, #philanthropy

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Melinda Gates Interview: Coronavirus, Masks and Inequality

One of the richest women in the world devoted decades to preparing for a pandemic.

#coronavirus-2019-ncov, #gates-bill, #gates-bill-and-melinda-foundation, #gates-melinda, #high-net-worth-individuals, #microsoft-corp, #philanthropy, #rumors-and-misinformation, #vaccination-and-immunization

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Thai Protesters Want to Rein in an Absentee King

For months, demonstrators have kept up their demands for resignations and reforms.

#bangkok-thailand, #bhumibol-adulyadej, #demonstrations-protests-and-riots, #high-net-worth-individuals, #prayuth-chan-ocha

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Even in a Pandemic, the Billionaires Are Winning

While many Americans suffered, the richest among us kept getting richer.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #high-net-worth-individuals, #income-inequality, #recession-and-depression, #united-states-economy

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Making Financial Decisions When You Don’t Have All the Facts

The president-elect is considering tax changes that could affect stock sales, selling a family business and leaving money to heirs. But we still don’t know how much he’ll be able to do.

#biden-joseph-r-jr, #capital-gains-tax, #content-type-service, #family-business, #high-net-worth-individuals, #income-tax, #internal-revenue-service, #presidential-election-of-2020, #united-states-politics-and-government, #wills-and-estates

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Biden’s Policy Agenda Rests Heavily on Senate Outcome

Which party controls the Senate will largely dictate how ambitious President-elect Joe Biden can get on taxes, health care, climate change and other policy priorities.

#coronavirus-aid-relief-and-economic-security-act-2020, #elections-house-of-representatives, #elections-senate, #federal-taxes-us, #government-contracts-and-procurement, #high-net-worth-individuals, #presidential-election-of-2020, #stimulus-economic, #tax-cuts-and-jobs-act-2017, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

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Wealthy Millennial Women Tend to Defer to Husbands on Investing

Even the most educated and high-achieving women do not participate equally with their husbands in long-term financial decision making, according to a study.

#coronavirus-2019-ncov, #divorce-separations-and-annulments, #ellevest, #financial-planners, #ginsburg-ruth-bader, #high-net-worth-individuals, #krawcheck-sallie-l, #lowry-erin, #mckinseyco, #millennial-generation, #national-womens-law-center, #porter-katie-1974, #research, #ubs-ag, #women-and-girls, #womens-rights

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The Rich in New York Confront an Unfamiliar Word: No

The pandemic is causing inequality to soar, but increasingly the privileged are discovering that they can’t bend the world to their will.

#coronavirus-2019-ncov, #high-net-worth-individuals, #homeless-persons, #income-inequality, #lucerne-manhattan-ny-hotel, #mastro-randy-m, #new-york-city, #upper-west-side-manhattan-ny, #vandalism

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Hedge Fund Magnate Is Moving His $41 Billion Firm From N.Y. to Florida

The firm, Elliott Management, led by Paul Singer, will transfer its headquarters to West Palm Beach, Fla., because of the pandemic.

#elliott-management-corp, #federal-taxes-us, #florida, #high-net-worth-individuals, #icahn-carl-c, #income-tax, #new-york-city, #pollock-jonathan-d, #relocation-of-business, #singer-paul-e, #tax-cuts-and-jobs-act-2017, #taxation, #trump-donald-j

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For Long-Term Investors, Small Things Like Presidential Elections Don’t Matter

There is heartbreak almost everywhere you look, our columnist says, but the stock market usually rises anyway.

#amazon-com-inc, #coronavirus-2019-ncov, #corporate-taxes, #democratic-party, #dimensional-fund-advisors, #exxon-mobil-corp, #federal-taxes-us, #high-net-worth-individuals, #infrastructure-public-works, #oil-petroleum-and-gasoline, #presidential-election-of-2020, #regulation-and-deregulation-of-industry, #republican-party, #sp-dow-jones-indices, #standardpoors-500-stock-index, #stocks-and-bonds, #united-states-economy, #united-states-politics-and-government

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Why Trump’s Efforts to Paint Biden as a Socialist Are Not Working

A barrage of attacks trying to link the Democratic nominee to policies like Medicare for All aren’t hurting him, polls show, as many of the policies remain popular with most Americans.

#biden-joseph-r-jr, #democratic-party, #federal-taxes-us, #green-new-deal, #health-insurance-and-managed-care, #high-net-worth-individuals, #polls-and-public-opinion, #presidential-election-of-2020, #socialism-theory-and-philosophy, #trump-donald-j, #united-states-economy

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