A spending spree is coming, and it may do more harm than good. An analysis by Deutsche Bank economists shows that 20 U.S. states have recently enacted, or are in the process of enacting, stimulus prog...
Tag: Government Finance
The debt vigilantes are back, and even U.S. assets will struggle. Here’s what to buy instead, says one veteran fund manager.
Markets are struggling to extend the previous session’s impressive rebound. There may be a number of reasons why a worse-than-expected inflation report was eventually shrugged off with such vigor on T...
This is how high interest rates might rise, and what could scare the Federal Reserve into a policy pivot
The stock market’s reaction to the latest inflation report Thursday underlined just how confused and fearful investors are. The S&P 500 SPX, +2.60% plunged as much as 3% shortly after the open as ...
Opinion: Stock markets will drop another 40% as a severe stagflationary debt crisis hits an overleveraged global economy
NEW YORK (Project Syndicate)—For a year now, I have argued that the increase in inflation would be persistent, that its causes include not only bad policies but also negative supply shocks, and that c...
Treasury yields pull back sharply amid concerns over Credit Suisse
Treasury yields pulled back sharply on Monday as investors assessed worries over the financial health of a large European bank and a gauge on the U.S. manufacturing sector produced the weakest reading...
U.K. Prime Minister Liz Truss Admits Mistake in Communicating Economic Plan
LONDON—U.K. Prime Minister Liz Truss said that her government could have done a better job preparing financial markets for a surprise tax-cut plan funded by increased debt, but otherwise defended the ...
Amazon, Berkshire Hathaway Could Be Among Top Payers of New Minimum Tax
Listen to article (2 minutes) WASHINGTON—A handful of large companies, such as Berkshire Hathaway and Amazon.com could bear most of the burden from a 15% corporate minimum tax President Biden signed i...
The Fed raised rates — retirees and near-retirees should do this
Retirees have to watch their spending, especially after the Federal Reserve’s latest rate hike announced on Wednesday. For the third time in a row, the Federal Reserve said on Wednesday it would rais...
The next financial crisis may already be brewing, but not where many expect
A growing number of traders, academics, and bond-market gurus are worried that the $24 trillion market for U.S. Treasury debt could be headed for a crisis as the Federal Reserve kicks its “quantitativ...
With inflation, many retirees will pay more federal income taxes
The federal income tax is generally indexed for inflation. Most particularly, the income brackets to which the marginal tax rates apply are increased in line with the “Chained CPI-U.” While the chaine...
Yellen pledges to target high-earning Americans in bid to keep U.S. finances on ‘sound footing’
U.S. Treasury Secretary Janet Yellen on Thursday pledged to pursue tax increases for high-earning Americans in a bid to keep U.S. finances sound, as she gave a speech in Michigan on the Biden administ...
U.K. may be on road to another IMF bailout, strategist warns
Is the U.K. on the road to an International Monetary Fund bailout? That’s the view of Peter Chatwell, head of global macro strategies trading at Mizuho Securities, as expressed in an interview on Bloo...
Compounding a disastrous year for Bitcoin and other cryptocurrency: IRS proposes controversial new question about digital assets
The Internal Revenue Service could have a potential head-scratcher of a question about your crypto investments and what’s taxable, according to a major accountants’ association. For two years, the IRS...
MicroStrategy’s Michael Saylor Sued for Alleged Tax Fraud in Washington, D.C.
By Vicky Ge Huang and Richard Rubin Aug. 31, 2022 6:17 pm ET Listen to article (2 minutes) The District of Columbia attorney general sued Michael Saylor, the founder and chairman of software intellige...
‘Should I wait until the market calms down or pull the trigger now?’ I’m tired of my brokerage charging 1%, and I want to move my money now, but don’t want to lock in losses. What’s my move?
Is 1% too much to pay? Getty Images/iStockphoto Question: My current brokerage account charges 1% and also has high-priced funds so I’m thinking of moving my money. My question is should I wait until...
What $80 Billion More for the IRS Means for Your Taxes
The last Tax Report came out just as Congress took up the Inflation Reduction Act, and it discussed the bill’s $80 billion in proposed new Internal Revenue Service funding. Over half the new dollars w...
Ford’s green bond sees $5 billion in demand as Biden signs climate bill
Investors swarmed over Ford Motor Co.’s new $1.75 billion green-bond deal on Tuesday to help boost its development of more electric vehicles. Order books for Ford’s F, +0.67% speculative-grade debt de...
Ethanol Industry Wants to Bury Its Carbon, but Some Farmers Stand in the Way
GOLDFIELD, Iowa—As climate-change concerns grow, ethanol plants like the one in this town of 630 surrounded by 10-foot-tall corn stalks are eager to join new pipeline networks that aim to carry carbon...
Got Hidden Income? The IRS May Get More Money to Find You
If Congress passes the Inflation Reduction Act, Americans should expect more IRS audits—especially on filers making more than $400,000 a year. The surprise agreement between Sens. Chuck Schumer (D., N...
‘We expect it to be removed’: Democrats’ push to close ‘carried interest loophole’ in jeopardy as Sinema seeks to block effort
Sen. Kyrsten Sinema has signaled her opposition to closing a controversial tax loophole that allows carried interest to be taxed as capital gains instead of income, according to multiple reports. As a...
How to save a bundle on your tax return
This is Part Two of our list of suggested year-end strategies. Part 1 discusses gaming the federal standard deduction, and managing capital gains and losses. The tax environment is getting friendlier ...