Money, Wealth & Power—A Daily Look at the Financial World
The Supreme Court’s looming decision on President Donald Trump’s emergency tariffs has already reshaped the rules for importers, with a new, hard deadline for refund claims and a rapid shift to digital processing. Instead of waiting for the justices to rule, trade officials have locked in a timetable that could determine who recovers billions in…
California is testing a radical idea in tax policy: instead of waiting for billionaires to sell stock or cash out, the state would tax a slice of their fortunes directly. The proposal, branded as a one-time levy on extreme wealth, could reshape how some of the richest people on earth relate to the state that…
Millions of workers are starting the year with a quiet but meaningful shift in their favor: federal tax changes that can leave more money in each paycheck. The new rules, driven by President Donald Trump’s latest tax package and routine Internal Revenue Service adjustments, are beginning to filter into payroll systems and could reshape how…
The penny is vanishing from American cash drawers, but the real fight is happening at the checkout screen. As stores reprogram registers and lawmakers rush to catch up, the country is arguing over a deceptively simple question: when a total lands between nickels, should the final price tilt in favor of the shopper or the…
California’s latest attempt to tax extreme wealth has drawn fierce warnings from Wall Street and quiet planning from tax lawyers. Then one of the world’s richest tech bosses effectively shrugged, saying he is happy to pay. The contrast between a billionaire CEO laughing off a new levy and peers plotting exits captures the high‑stakes experiment…
The Internal Revenue Service has quietly locked in the numbers that will govern how much of your 2026 income is taxed, and the changes are big enough to shift real money back into some households. The core tax rates stay the same, but higher thresholds and a richer standard deduction mean many filers will see…
Federal tax rules are shifting again in 2026, and this time the changes are more likely to nudge your take home pay up than down. The Internal Revenue Service is lifting the income thresholds for each tax bracket and updating how much employers withhold from paychecks, so many workers will see a modest bump in…
The global push for a 15 percent minimum tax on large corporations has survived a turbulent renegotiation, but the final compromise leaves the United States on the outside of the core enforcement regime. While more than 145 countries have agreed to move ahead, President Donald Trump has secured an exemption that keeps U.S.-headquartered multinationals under…
Side hustlers just got a rare dose of simplicity from Washington. A recent tax change raises the bar for when payment platforms and clients must send 1099 forms, which means fewer surprise tax documents for people making extra cash from gigs or online sales. The income is still taxable, but the paperwork burden is lighter…
Ron DeSantis has turned a dry topic, property tax policy, into a populist rallying cry by branding annual tax bills as “rent to the government” and warning that homeowners are being treated like ATMs. His push to wipe out property taxes on primary residences in Florida is no longer a thought experiment, it is a…