Money, Wealth & Power—A Daily Look at the Financial World
President Donald Trump’s proposal to send households up to $2,000 a year from tariff revenue is being sold as a simple way to turn trade policy into cash in people’s pockets, but the money would not go to everyone. The plan hinges on an income cap that would exclude higher earners and on a complicated…
Donald Trump’s new tariffs on imported toys and games amount to a $1.1 billion tax increase that lands squarely on American families, retailers, and manufacturers. Instead of a niche trade skirmish, the policy turns the toy aisle into a frontline in a broader fight over inflation, consumer prices, and the future of global supply chains….
President Trump’s promise of “no tax on tips” and “no tax on overtime” is finally moving from campaign slogan to practical reality, as the Internal Revenue Service begins spelling out how workers and employers should handle the new deductions. The latest guidance clarifies who can claim the breaks, how much income can be shielded, and…
Nancy Pelosi’s increasingly tense exchanges with CNN over stock trading have crystallized a long‑simmering question in Washington: should members of Congress be allowed to buy and sell individual shares while they write the laws that move markets. The clash has unfolded against a backdrop of bipartisan bills, viral trading trackers, and seven‑figure bets that have…
Donald Trump has long blurred the line between political fundraising and personal business, turning campaign activity into a steady customer for his own properties. The question now is not whether money from his political committees reaches his companies, but how systematically that flow is structured and how transparent it really is to the donors footing…
Millions of Americans are poised to see bigger spring tax refunds, and the gains will not be limited to a narrow slice of filers. I will walk through six key groups highlighted in recent reporting, showing how each stands to benefit from richer credits, inflation adjustments, or shifting withholding patterns so you can see where…
The Trump administration is moving to shut off a little understood but politically explosive corner of the tax code, targeting refundable credits and other tax-based benefits that officials say have been flowing to people who are in the country illegally. The Treasury Department’s new push, framed as a crackdown on “abuse,” could reshape how undocumented…
Tariffs on Chinese imports have quietly swelled into a more than $200 billion drag on trade, even as a major Supreme Court case threatens to redraw the legal boundaries around presidential power over commerce. The result is a rare moment when courtroom doctrine, campaign politics, and supply chain strategy are colliding in real time, with…
Donald Trump is now confronting a new kind of fiscal scrutiny, as a prominent watchdog warns that his favored payouts and tax breaks could ultimately carry a multitrillion dollar price tag for the federal government. The warning frames Trump’s second term agenda not just as a political fight, but as a potential $6 trillion test…
Estate and gift tax rules are shifting quickly, and the window to lock in today’s generous exemptions is closing as the 2026 changes approach. I focus here on eight concrete estate tax tactics that can be executed before year-end so families can use current rules to reduce future estate tax exposure. Each strategy is grounded…