Money, Wealth & Power—A Daily Look at the Financial World
President Donald Trump is promising what he calls the largest tax refund season in history, and his economic advisers say some households could see checks that rival a year of mortgage payments. The boldest claim is that certain families could receive refunds in the five figures, with one Trump economist suggesting that totals might climb…
The Powerball jackpot has surged to $1.5 billion, a headline number that instantly triggers daydreams about private jets, early retirement, and never checking a price tag again. The reality is more complicated, because the winner will face a series of choices and tax hits that dramatically shrink that figure before a single dollar is spent….
Retirees who owe the IRS $4,300 or more every year are often paying for missed planning opportunities, not just their income level. I focus on seven practical moves that can trim that annual bill, from smarter withdrawals to overlooked credits, so a fixed income stretches further without running afoul of complex rules. 1) Live in…
President Trump has promised to send households $2,000 “tariff rebate” checks tied to his trade agenda, turning a complex tax policy into a simple-sounding cash payout for 2026. The idea is politically potent, but the path from tariff collections to a $2,000 payment in your mailbox runs through Congress, budget math, and unresolved questions about…
President Donald Trump has ordered the most sweeping federal shift on marijuana in decades, directing agencies to treat cannabis less like heroin and more like a tightly controlled medicine. The move reclassifies marijuana under federal law, accelerates research, and opens a path for prescription use, while leaving state-level legalization battles very much intact. The change…
President Trump used a rare prime-time address from the White House to unveil a new cash bonus for service members, casting the payout as both a patriotic gesture and proof that his economic strategy is working. The so-called “warrior dividend,” set at $1,776 per eligible recipient, instantly became the headline-grabbing centerpiece of a speech that…
The Powerball jackpot has surged to a headline-grabbing $1.25 billion, but the winner’s bank balance will look very different once the tax math kicks in. After choosing between a reduced lump sum and decades of annuity checks, then layering on federal and state taxes, the final haul shrinks to a fraction of that eye-popping figure….
Tax season is about to collide with one of the biggest rewrites of the code in years, and the result could be a noticeably different refund for millions of filers. Between routine inflation adjustments and sweeping changes from the One Big Beautiful Bill, what you get back, or owe, in 2026 will depend on how…
President Trump is openly talking about ending the federal income tax, and a fast-moving series of plans and bills is giving that idea more structure than a campaign slogan. To understand what ending income tax could really mean for your paycheck, your grocery bill, and the federal budget, it is crucial to see how his…
President Donald Trump is signaling that he wants to unwind a looming change to how gambling winnings are taxed, setting up a clash between a fresh revenue-raising rule and a White House eager to court bettors, casinos, and swing-state tourism hubs. The fight centers on a 2026 shift that would sharply limit how much gambling…