Wealth

A new study from the University of Pennsylvania’s Wharton School finds that Sen. Bernie Sanders’ proposed wealth tax on the richest Americans will generate $1 trillion to $1.5 trillion less than what the campaign claims. The results, if accurate, could undercut the critical funding needed to support his plans to develop public health care, education
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Thomas Trutschel | Photothek | Getty Images The world’s 2,153 billionaires have more wealth between them than a combined 4.6 billion people, new research has claimed. In a study published Monday, international charity Oxfam called on governments to implement policies that may help to reduce wealth inequality. The report comes as delegates gather in Davos,
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The Internal Revenue Service headquarters in Washington, D.C. Andrew Harrer | Bloomberg | Getty Images Every budget cycle, members of Congress solemnly promise to better fund the Internal Revenue Service so it can do its job of collecting taxes and serving the taxpayer. And once again, Congress has done the opposite. According to an analysis
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Kristalina Georgieva, managing director of the International Monetary Fund (IMF), speaks in Washington, D.C., on Oct. 16, 2019. Andrew Harrer | Bloomberg | Getty Images Governments should consider raising taxes on society’s wealthiest to tackle inequality, according to the head of the International Monetary Fund (IMF). In a blog post on Tuesday, Kristalina Georgieva, managing
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Deep in the valleys forged by the waters of Asia’s Red River, a series of colorful mountain villages are encircled by fields of towering rice terraces. The fields are agricultural feats of precision — rugged mountains blanketed with emerald stairways that, seemingly, ascend to the heavens above. Mu Cang Chai, Vietnam. Ratnakorn Piyasirisorost But this
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President Donald Trump gestures toward journalists shouting questions as he departs the White House May 29, 2018 in Washington, DC. Win McNamee | Getty Images President Donald Trump is the favorite candidate of America’s millionaires — and his support seems to be strengthening. Asked which candidate they support for president in 2020, 36% of millionaires
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Eiffel Tower fireworks. Fred Dufour | AFP | Getty Images T’is the season to be gloomy, when the world’s prognosticators provide their competing lists of the coming year’s top risks. And there are plenty of candidates, from Iran to North Korea, and from American elections to global warming. Acting on the advice of Winston Churchill,
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