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Tag: Government Finance
Is China Headed for a Lehman-Style Crisis? This Property Bust Is Different.
Text size The downturn in China’s property market is unlikely to lead to a meltdown that triggers a financial crisis. STR/AFP via Getty Images China’s property slump and suffering economy is lea...
Raymond James’ Darren Coleman: How I Serve Cross-Border U.S.-Canada Clients
Americans mulling a move to Canada might think the financial transition would be a piece of cake. After all, both countries are democracies with advanced banking systems. What could go wrong? Actually...
IRS Gives Wealthy Families More Time to Shelter Assets from Estate Tax
The federal government is giving widows and widowers more time to deal with the intricacies of the estate tax after a spouse dies. When one spouse dies, their partner often inherits all or part of the...
Bank of Mexico Minutes Show Board Open to More 0.75-Point Rate Increases
MEXICO CITY—Bank of Mexico governors all agreed to raise the reference interest rate by three-quarters of a percentage point last month to rein in inflation, and most are willing to consider further i...
The IRS audited ex-FBI director James Comey and former deputy Andrew McCabe. What are the odds?
In recent years, the Internal Revenue Service has been processing around 150 million to over 160 million tax returns annually, doing the work with a shrinking staff and an inflation-adjusted budget th...
How inflation affects 2023 tax brackets: You may get an unexpected ‘tax cut’
As you probably know, the federal income tax rate brackets, and many other federal tax parameters, are indexed for inflation using a factor based on the monthly average of changes in the chained Consu...
Opinion: Stocks could drop 50%, Nouriel Roubini argues. Things will get much worse before they get better.
NEW YORK (Project Syndicate)—The global financial and economic outlook for the year ahead has soured rapidly in recent months, with policy makers, investors, and households now asking how much they sh...
Default Won’t Trigger a Long Winter for Russia
Failing to pay your debts can stop you getting a loan again. Except if you are a country—even Russia. Russia has defaulted on its foreign debt for the first time since the Bolshevik Revolution. Becaus...
3 big problems with Congress’ new retirement reforms
A new set of reforms to America’s retirement tax and savings plans passed a key hurdle in Congress last week. Variously known as the SECURE Act 2.0, the EARN Act and the RISE & SHINE Act, the meas...
Sanctions Push Russia Near First Foreign Default Since Revolution
Russia was poised to default on its foreign debt for the first time since 1918, pushed into delinquency not for lack of money but because of punishing Western sanctions over its invasion of Ukraine. R...
Biden Proposes Gas Tax Suspension. That’s Not Why Oil Prices Are Falling.
Text size Crude prices fall as the Biden administration takes more steps to try to lower gasoline prices. Mario Tama/Getty Images Oil prices were falling Wednesday as President Joe Biden prepared to a...
Reality TV stars Todd and Julie Chrisley found guilty on fraud, tax-evasion charges
ATLANTA — Todd and Julie Chrisley, stars of the reality television show “Chrisley Knows Best,” were found guilty Tuesday in Atlanta on federal charges including bank fraud and tax evasion. The Chrisle...
Here’s why the stock market gets ‘squirrelly’ when bond yields rise above 3%
Stock-market investors seem to get jittery when the 10-year Treasury yield is trading above 3%. A look at corporate and government debt levels explains why, according to one closely followed analyst. ...
Biden open to canceling $10,000 in student loans per borrower — what that means for your budget, credit score and tax bill
If $10,000 vanishes from your student debt, you may want to celebrate. This is a question millions of student loan holders may be facing soon if President Joe Biden proceeds with a controversial plan ...
Opinion: This plan to tax the ultrarich is much simpler and better than Biden’s idea
President Joe Biden and Senate Finance Committee Chair Ron Wyden (D-OR) have proposed different ways to tax unrealized capital gains every year. Their shared goal is understandable, with trillions of ...
A $100 Billion Comedown: Soaring Defaults Shrink Asia’s Junk-Bond Market
Once the place to be for yield-seeking global investors, Asia’s junk-bond market has shrunk drastically and new debt issuance has slowed to a trickle. Less than 18 months ago, the dollar-bond market f...
Russia Is Likely to Default on Its Debt Soon. What That Means for Markets.
Text size Spires of St Basil’s Cathedral in Moscow’s Red Square. Cameron Spencer/Getty Images About the author: David Beers is a senior fellow at the Center for Financial Stability, a NY-b...
How do higher mortgage rates help shrink inflation? Here’s an explainer.
The Federal Reserve yanked a short-term interest rate higher this week, making it more expensive to borrow money to buy a home or fix it up. The central bank raised the federal funds rate last week by...
How high can the Fed hike interest rates before a recession hits? This chart suggests a low threshold.
The days when the Federal Reserve could raise its benchmark interest rate significantly above 5% without sparking a recession may be a thing of the past, according to Wells Fargo Investment Institute....
Saudi Royals Are Selling Homes, Yachts and Art as Crown Prince Cuts Income
RIYADH, Saudi Arabia—Saudi princes have sold more than $600 million worth of real estate, yachts and artwork in the U.S. and Europe since the kingdom’s de facto ruler tightened the purse strings of th...
‘The issues with the IRS are still present and very real’: Millions of Americans are racing to file their tax returns, and filing extensions
Tax Day came and went earlier this week, so if your upcoming weekend plans are just chilling after the last-minute tax time bustle, you might have company. April 18 marked the deadline in most states ...
‘I’m already feeling guilty’: My uncle is leaving me a large inheritance, but excluding my siblings. Should I gift them money every year, or set up a trust?
Dear Quentin, I am soon to inherit a sizable sum of money from an uncle with whom no one in my family still speaks; I’m the only one who has stayed in contact with him. While it seems a bit grotesque ...
Opinion: The cloud boom is coming back to earth, and that could be scary for tech stocks
Cloud computing is widely viewed as a recession-resistant business, but the theory has not really been tested since cloud-service providers have not experienced a major economic downturn since becomin...