Money, Wealth & Power—A Daily Look at the Financial World
Donald Trump is promising that sweeping new tariffs will pay for his agenda, cut taxes, and even tame inflation, but the basic arithmetic behind those claims does not hold up. The numbers on trade flows, consumer prices, and federal revenue show that the burden would fall heavily on American households while leaving a large gap…
American shoppers are heading into peak holiday season with a hidden surcharge baked into nearly every cart: a multibillion dollar tariff tab that functions like a tax on gifts, gadgets and décor. Instead of fading into the background, the trade policies of recent years are converging with inflation fatigue and tight household budgets to make…
Swiss voters have decisively turned down a sweeping new inheritance levy on multimillionaires, choosing to protect the country’s role as a magnet for global wealth rather than test how many rich residents might walk away. The result leaves the existing patchwork of cantonal rules intact and signals that fears of a millionaire exodus carried more…
President Donald Trump’s promise of a $2,000 “tariff dividend” check has been pitched as a simple way to return money to American households, but the emerging contours of the plan look more like a targeted tax credit than a universal windfall. The White House is now signaling that any rebate would be capped by income,…
Donald Trump’s pledge to push for a $2,000 standard deduction for every taxpayer has quickly turned into a kitchen-table question: how much would that actually change what you owe in 2026. The answer depends on how Congress rewrites the tax code next year, how the expiring Trump-era cuts are handled, and where your income and…
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…
Tariff revenue has surged under President Donald Trump, and the White House now says the windfall could be large enough to wipe out federal income taxes for many Americans. At the same time, a Supreme Court showdown over those same levies threatens to unravel as much as $3 trillion in duties, putting both the revenue…