As Congress considers several tax proposals designed to raise taxes on high-income earners, it’s worth considering the distribution of the existing tax code. While the image that rich Americans pay little taxes is popular, it’s a misconception: high-income individuals already pay a large share of taxes, even when compared to their share of national income.
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Outdoor seating at Estiatorio Milos Tanja Yokum In August, the Gerber Group’s Manhattan bars and restaurants started hiring more workers in preparation for an influx of customers returning to the offices the following month. The labor crunch meant those restaurants weren’t fully staffed even after the hiring push, which turned out to be a blessing
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This photo provided by the Southern Area Blue Incident Management Team on Thursday, Sept. 17, 2021, shows the giant sequoia known as the General Sherman Tree with its base wrapped in a fire-resistant blanket to protect it from the intense heat of approaching wildfires at Sequoia National Forest in California. Southern Area Blue Incident Management
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Sam Edwards | Getty Images The day before Goldman Sachs announced its $2.2 billion purchase of fintech lender GreenSky, someone placed options trades that immediately soared in value, moves that market participants say indicates advance knowledge of the deal. On Sept. 14, the trader bought 8,000 options that would only pay off if the price
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Elizabeth Holmes, CEO of Theranos, attends a panel discussion during the Clinton Global Initiative’s annual meeting in New York, September 29, 2015. Brendan McDermid | Reuters SAN JOSE, CALIF. – A former Theranos scientist testified Friday that Elizabeth Holmes pressured her to validate blood test results from the company’s Edison machine to speed up a
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Vials with Pfizer-BioNTech and Moderna coronavirus disease (COVID-19) vaccine labels are seen in this illustration picture taken March 19, 2021. Dado Ruvic | Reuters Moderna’s COVID-19 vaccine is slightly more effective than Pfizer’s or Johnson & Johnson’s in preventing hospitalization, though the gap widens substantially four months after vaccination, the CDC said Friday. The report
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Billionaire Peter Thiel, PayPal co-founder and chairman of Palantir Technologies, during a news conference in Tokyo, Japan, on Nov. 18, 2019. Kiyoshi Ota/Bloomberg via Getty Images Billionaire Peter Thiel and others with huge retirement account balances are in lawmakers’ crosshairs. House Democrats unveiled a tax package on Monday that would force distributions from one’s nest
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Ruby Bugarin owns two restaurants in California and is being hit by rising supply chain struggles and inflation. Courtesy: Ruby Bugarin Restaurants around the county were looking ahead to the economy’s reopening over the last few months, as Covid vaccines became more widespread and pent-up consumer demand was palpable. But headwinds from supply chain disruptions
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Here are the most important news, trends and analysis that investors need to start their trading day: Dow futures drop as history signals a rough rest of September Options, futures expirations could add volatility at Friday’s close Fed chief calls for a review of the central bank’s investment rules FDA vaccine advisory panel to meet
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