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MSNBC The Last Word With Lawrence ODonnell October 28, 2021 02:07:00

Brought out the traditional rival between the chairman of the house tax-writing committee and the senate tax-writing committee, after chairman widen introduced his proposal today. chairman neal has already written a bill with pride of authorship that includes a package of traditional tax increases on the top income tax rate, the capital gains tax rate, corporate tax rate that was part of the original biden tax proposal. senator sinema opposes those increases in those tax rates and that is what has forced this last-minute attempt to find other tax increases that senator sinema will accept. chairman neal says he is now considering, quote, a 3% surtax on top of the top income tax rate for those earning more than ....

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MSNBC The Last Word With Lawrence ODonnell October 28, 2021 05:07:00

Written a bill, with pride of author, ship that includes a package of traditional tax increases on the top income tax rate gains, the corporate tax rate, that was part of the original biden tax proposal. senator kyrsten sinema opposes those increases, in those tax rates. and that is what has forced this last-minute attempt, to find other tax increases that senator sinema will accept, chairman neill said in his now considering, a 3% sir tax, on top of the top income tax rate, for those earning more than $10 million. that proposal would create in effect a new tax bracket, at $10 million. but, it would effectively do nothing, to increase taxation on billionaires. washington post reports quote, a proposal to expand medicaid, medicare, to cover dental, hearing in vision benefits, is ....

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How Will Biden Tax Plan Affect Estate Planning?

Friday, June 4, 2021
On April 28, President Biden delivered a speech to a pared down joint session of Congress outlining his American Families Plan and his infrastructure package, which carry a collective $4 trillion price tag. Consistent with his campaign, Biden proposes to pay for these plans largely by increasing taxes on corporations and on high net worth Americans. However, in a break from his campaign, Biden is no longer proposing expansion of the estate tax, which currently taxes estates that exceed $11.7 million at 40 percent. Despite this omission, Biden s plans, if enacted, could have significant estate planning implications. Specifically, his proposals to increase income tax and capital gains tax, and to eliminate the step up in basis rules, should be considered when reviewing your plan. ....

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Oil edges up, gold dips on stronger dollar - MarketPulse

Oil edges up, gold dips on stronger dollar
Posted 7 hours agoSharePrint
Oil rises but set for weekly losses as India Covid cases hit a new record
Oil prices are edging higher at the end of the week, boosted by reopening optimism in the US and Europe. However, surging Covid cases in India and new lockdown restrictions in parts of Japan are keeping any gains in check.
Investors are managing to move past the shocking Covid headlines from India and the build in crude inventories reported earlier in the week. Instead, they are taking solace in the sustained improvement in gasoline demand. Furthermore, the Covid picture in Europe appears to be taking a turn for the better as schools in France are set to reopen, marking an important step towards reopening the economy. ....

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Currency markets stuck in neutral - MarketPulse

Currency markets stuck in neutral
Posted 4 hours agoSharePrint
Dollar edges higher on risk aversion
The Biden capital gains tax headline prompted a modest wave of risk aversion in New York overnight, lifting the US dollar even as US longer-term yields continued to ease slightly. Biden announced a tax hike on the “rich”, which would mean raising the top marginal rate and increasing the capital gains tax. Of course, it’s reasonable to assume that there will be plenty of give-and-take in Congress over this ambitious proposal.
The risk barometer Australian and New Zealand dollars retreated by 0.60%, but the dollar index rose just 0.18% to 91.27%. Sterling was the worst performer among the majors, GBP/USD falling 0.65% to 1.3840 on EUR/GBP buying post ECB. ....

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