One of the themes within Tax Foundation’s Options for Reforming America’s Tax Code 2.0 is that taxes on consumption tend to be a more economically efficient revenue source than taxes on income and capital that reduce the incentive to work and invest. Comparing the economic effects of taxes on consumption and income can apply to
A view of the driveway leading to the residence at 777 Sarbonne Road in Bel-Air, California. Joe Bryant / Aaron Kirman Group Seven is a magical number for one of Bel-Air’s priciest spec homes. The glass and marble palace located at 777 Sarbonne Road in Los Angeles hit the market last month with an asking
SINGAPORE — The public listings for two of Southeast Asia’s tech giants will likely pave the way for more high-growth businesses to emerge from the region, said venture capital firm 500 Startups. Contrary to concerns that regional heavyweights may “gobble up” smaller start-ups and stymie innovation, Vishal Harnal told CNBC that “couldn’t be further from
SELINSGROVE, PENNSYLVANIA, UNITED STATES – 2021/01/27: A woman walks past the GameStop store inside the Susquehanna Valley Mall. An online group sent share prices of GameStop (GME) and AMC Entertainment Holdings Inc. (AMC) soaring in an attempt to squeeze short sellers. Photo by Paul Weaver/SOPA Images/LightRocket via Getty Images GameStop sales rose 25% in the
Most people want to forget this part of the 1970s. But inflation is back, and investor Peter Boockvar predicts it will be the most widespread in decades. “Monetary policy … is right now impotent in its ability to stimulate economic activity,” the Bleakley Advisory Group chief investment officer told CNBC’s “Trading Nation” on Wednesday. Boockvar
The recent release of thousands of Dr. Anthony Fauci’s emails from the spring of 2020 revealed a lot about the early days of the pandemic. But it was also a fascinating glimpse into the White House chief medical advisor’s busy job. The sheer number of emails that Fauci receives and responds to in a day
In this article CLOV CLNE VIRT The frenzied activity involving so-called meme stocks is being driven by more than just retail investors, the CEO of market maker Virtu Financial told CNBC on Wednesday. “There’s a lot of institutions, professional traders, speculators, whatever you want to call them, engaged in this in both the cash equities
Samuel Corum | Getty Images News | Getty Images The top 1% would see their federal taxes rise by more than $213,000, on average, next year as a result of President Joe Biden’s tax plan, according to an analysis published Wednesday by the Urban-Brookings Tax Policy Center. Such households, which earn about $800,000 or more
As Wisconsin legislators work to finalize the state budget for the fiscal year (FY) 2022-23 biennium that begins July 1, the Wisconsin Legislative Fiscal Bureau (LFB) on Tuesday reported the state has substantially more revenue to work with than was anticipated when the LFB issued revenue projections earlier this year. Specifically, the LFB’s revised three-year
A real estate agent and a potential home buyer in Coral Gables, Fla. Getty Images Mortgage rates fell slightly last week, but not enough to light a fire under mortgage demand. Total mortgage application volume decreased 3.1% for the week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for
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Shoppers wear protective masks inside the Glendale Galleria shopping mall in Glendale, California, on Thursday, May 6, 2021. Bing Guan | Bloomberg | Getty Images One of the country’s largest retail trade groups, the National Retail Federation, boosted the industry’s outlook for the year on Wednesday, saying it anticipates “the fastest growth that we’ve seen
In this article WFC CLNE RIDE The Lordstown Motors Corp. Endurance electric pickup truck sits on stage during an unveiling event in Lordstown, Ohio, U.S., on Thursday, June 25, 2020. Matthew Hatcher | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Clean Energy Fuels — Shares of Clean Energy Fuels
The off-price retailer Saks Off Fifth has teamed up with The Phluid Project to create a line of gender-fluid apparel, coinciding with Pride Month. Source: Saks Off Fifth For Christina McCann, shopping at the mall involves sifting through the women’s and the men’s aisles in search of the perfect outfit. McCann, who is nonbinary, often
CNBC’s Jim Cramer said Wednesday that trading meme stocks is more gambling than investing. “It’s exciting. It’s fun, and it’s real,” Cramer said on “Squawk Box.” However, he added, “If you’re going to play it, I think that you can, I don’t know, go to the casino. These should be offered at the casino.” He
An activist calls for an increase of federal taxes on the wealthy and big corporations. Bob Levey | Getty Images Entertainment | Getty Images If the Biden administration gets its way, wealthy households are going to face higher tax rates. Many millionaires appear to be OK with that. More than half — 60% — of
A new housing model is rising from the dirt in Valencia, California, and potentially raising the bar for real estate developers hoping to reduce their carbon footprints. More than 21,000 homes are going up in a brand-new community that, its developer says, will be the largest net-zero community in the nation, and potentially the world.
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A patient suffering from COVID-19 receives treatment at the coronavirus disease (COVID-19) Intensive Care Unit (ICU) of the “Klinikum Darmstadt” clinic in Darmstadt, Germany, May 20, 2021. Kai Pfaffenbach | Reuters LONDON — The cheap and widely-available drug aspirin does not improve survival for patients hospitalized with Covid-19, a U.K. study has found. Oxford University
Investors will need to accept the trajectory and level of volatility in bitcoin as the digital currency becomes more widely adopted globally, according to SkyBridge Capital’s Anthony Scaramucci. Following a run to an all-time high above $63,000 in April, the price of bitcoin has swiftly tumbled in a matter of weeks — at one point