tax

New York state lawmakers have approved a new pied-à-terre tax on luxury second homes in New York City, according to a report on Wednesday, marking a major policy win for Mayor Zohran Mamdani’s affordability agenda. The tax, included in the state’s budget package, will apply to certain...

John O'Farrell, a partner at venture capital firm Andreessen Horowitz, says he believes carried interest is essentially compensation for doing work, managing investments and generating returns; therefore, it should be treated as ordinary income. “I’ve argued for more than 15 years that...

Wealthy New York property owners are criticizing Mayor Zohran Mamdani's proposed tax on luxury second homes, arguing the policy could hurt investment and push more high earners toward cities like Miami. The proposed levy would apply to second homes worth more than $5 million. According to New York...

A California labor union said Monday it has collected enough signatures to place a proposed billionaire tax on the November ballot. The measure would impose a one-time 5% tax on individuals with a net worth exceeding $1 billion who lived in California as of Jan. 1, 2026. The Service Employees...

Most Americans receiving tax refunds this season plan to save or pay off debt rather than spend, even as refund amounts climb higher than last year, according to an Experian survey published in March. The IRS reported an average refund of $3,676 through early March, 10% higher than the $3,324...

Kevin O’Leary blasted New York Mayor Zohran Mamdani‘s proposed pied-à-terre tax as "really stupid," arguing that owners of luxury second homes bankroll construction work, keep paying ongoing property-related costs, and don't strain city services when they're absent. His comments land...

Washington state made history earlier this week when Gov. Bob Ferguson signed Senate Bill 6346, the Millionaires’ Tax, into law. The bill taxes individual income exceeding $1 million a year. Less than half of one percent of Washingtonians will pay it. In its first full year, more than 41.3%...

According to a recent poll, supporters of President Donald Trump have shown willingness to bear higher taxes to back his policies. The poll, conducted by POLITICO and Public First last month, indicates that typical Trump supporters are ready to pay an additional $65 per month in taxes to support...

According to a recent poll conducted by the Wall Street Journal, a significant skepticism among Americans towards President Donald Trump‘s tax-and-spending law. What Happened: The poll, which ran from July 16 to July 20, 2025, indicates that the law has only 42% support, with 52% opposition...

U.S. stock futures were fluctuating on Tuesday after trimming gains from their records on Monday. Futures of major benchmark indices were trading mixed. President Donald Trump announced sweeping 25% tariffs on all imports from Japan and South Korea, and sent letters to a total of 14 countries, all...

U.S. stock futures declined on Monday after scaling fresh records in the previous truncated week. Futures of major benchmark indices were trading lower. President Donald Trump said that he would be sending out letters to America's trading partners, announcing that tariffs would be back to April 2...

Financial analyst Gary Black, the managing partner at the Future Fund LLC, has issued a bold take on the U.S. fiscal health, likening the nation's debt to corporate debt levels and calling it “fairly low.” What Happened: In a post on X, Black argued that the U.S. debt-to-GDP ratio of...

U.S. futures rose on Monday after a record close on Friday. Futures of major benchmark indices were trading higher. As the July 9 deadline for President Donald Trump‘s reciprocal tariffs comes closer, on Friday, he suggested that the deadline for a U.S.-EU trade deal might not be set in stone...

Economist Peter Schiff has sharply criticized Donald Trump‘s recent decision to postpone threatened 50% tariffs on European products, dismissing the move as a “fake win” that ultimately leaves American consumers footing a higher bill. What Happened: In an X post, Schiff weighed in...