President Biden will propose hiking the capital gains tax rate from 20% to 39.6%, Bloomberg first reported Thursday, meaning that the top federal tax rate for some high-earning individuals could rise to 43.4% thanks to an additional 3.8% tax on net investment income that was passed as part of Obamacare. Read More.
Like the lady above whose smartphone is being stolen from her purse, we are all being victimized by thieves. Just who are these thieves? They are the ever-growing number of people who are illegally evading their income taxes.
The U.S. Food and Drug Administration (FDA) said it had found
problems including peeling paint and loose debris during
inspections at a U.S. plant in Baltimore that makes Johnson &
Johnson’s (JNJ.N) COVID-19 vaccine and asked for remediation of
the issues. Read More.
TOPLINE Sen. Bernie Sanders (I-Vt.) and Rep. Pramila Jayapal
(D-Wash.) on Wednesday introduced legislation to make college
tuition free for millions of Americans, paid for by a new tax on
Wall Street trades. Read More.
GameStop Corp’s (GME.N) George Sherman will step down as chief
executive officer in the biggest shakeup at the video game
retailer, giving top shareholder Ryan Cohen more control as he
leads the company’s shift to e-commerce. Read More.
For more than a century, Standard Industries has been on top of
the roofing world. Now co-CEOs David Millstone and David Winter
are ready to roll out a high-tech solar version to rival Tesla’s
and give home construction a jolt. Read More.
Tax cases involving Native Americans are complex, highly
fact-intensive, and if required, a court must weigh the competing
interests of the tribe, the federal government, and the state to
determine if the tax stands or falls. Read More.