Tech and Crypto Billionaires Caution About a Move from California Due to Proposed 5% ‘Unrealized Gains’ Wealth Tax
Concerns Over California’s 2026 Millionaire Tax Bill Key players in the tech and cryptocurrency sectors are raising concerns about a proposed millionaire tax in California set for 2026. This ballot initiative seeks to impose a one-time 5% tax on net worth exceeding $1 billion, including unrealized gains from assets, aimed at funding state services. Critics […]
Trump’s IVF actions: Significant advancement or unrealized commitments?
Trump’s IVF Policy Sparks Mixed Reactions President Trump’s recent initiative aimed at broadening access to in vitro fertilization (IVF) has elicited a variety of responses from lawmakers, advocacy groups, and medical professionals. Some see it as a positive step, while others are more cautious. During a speech in the Oval Office on Thursday, Trump outlined […]
FDIC Warns 68 US Banks in Danger of Insolvency As Lenders Face $364,000,000,000 in Unrealized Losses – The Daily Hodl
The number of U.S. banks with serious problems continues to grow, according to new numbers from the Federal Deposit Insurance Corporation (FDIC). In its quarterly Bank Profile report, the FDIC states: say In the third quarter, the number of U.S. financial institutions on the “Problem Bank List” increased to 68. The figures mark the fifth […]
Harris campaign surrogate Ro Khanna nudges VP against backing tax on unrealized capital gains
That's no good for Ro. Progressive Rep. Ro Khanna, D-Calif., on Wednesday warned Vice President Harris that she should not pursue a tax on unrealized capital gains, despite her opposition. Signaling Support President Biden's fiscal year 2025 budget proposal would do just that. “Let's say you're an entrepreneur and you start a company and it's […]
Harris’s Unrealized Capital Gains Tax Proposal Is Unworkable, ‘Constitutionally Suspect,’ ‘Economically Destructive’
Democratic presidential candidate Vice President Kamala Harris' proposal to tax unrealized capital gains could be unconstitutional, unworkable and “economically destructive,” tax experts say. Breitbart News reported that Harris' tax proposal would increase taxes by $5 trillion over 10 years. BREAKING: Kamala Harris' economic adviser claims she plans to tax unrealized gains. “It won't happen in […]
CNBC hosts clash with Harris campaign economic adviser over unrealized gains tax proposal: ‘Unconstitutional’
The hosts of CNBC's “Squawk Box” spoke with Bharat Ramamurti, an informal economic adviser to the Biden-Harris campaign. Taxing unrealized capital gains; The hosts argued that this was likely “unfair” and “unconstitutional.” Hosts Rebecca Quick and Joe Curnen questioned Rama about the proposal, with Quick saying he thought it was unreasonable because it would “advance […]
Economists slam Biden-Harris proposal to tax unrealized capital gains
The Biden administration’s proposal to tax unrealized investment gains, which the Harris campaign has voiced support for, is “insane” and “absurd,” the economist told Fox News Digital. The Biden-Harris administration’s Treasury Department released its revenue proposal for fiscal year 2025 in March. The list of tax proposals includes a plan to include unrealized investment gains […]
The Banks: “Unrealized Losses” in Q4, Securities Held by Banks, Bank Failures, and the Dropping Bank Count – WOLF STREET
Several banks will fail in 2024. Five banks will fail in 2023. In 1989, more than 500 banks failed. Since 1936, there have been only five years without a bank failure. Written by Wolf Richter of Wolf Street. The plunge in long-term interest rates (now partially reversed) inspired by the rate cut mania at the […]