Opinion: Bernie Sanders and Elizabeth Warren’s bold tax hike to shore up Social Security
Elizabeth Warren and Bernie Sanders want to shore up Social Security by raising the top rate of income tax by a third, and the top rate of capital-gains tax by more than a half. The Democratic senators have made the proposals in a new bill that would balance Social Security’s books, and expand benefits. It […]
Debt-Ceiling Standoff Prompts Backup Plans, but They Face Hurdles Too: WSJ
Potential alternatives for the U.S. to avoid default—from simply ignoring it, to minting a trillion-dollar coin—are met with skepticism. Source link
California’s Budget Deficit Blows Up
California Gov. Gavin Newsom’s budget last month projected a $22.5 billion deficit, but apparently his forecast was too sunny. The Legislative Analyst’s Office (LAO) warned last week that the state’s budget hole may be a lot bigger owing to plunging revenue. Look out below. Source link
Fed’s Inflation Fight Pushes Up Cost of U.S. Debt
EconomyU.S. EconomyRepublicans and Democrats disagree on whether debt load is manageable Source link
What’s in the $60,000 Grammy gift bags that Beyonce, Taylor Swift can take home
Talk about swagger. It’s been a long-standing tradition for the nominated artists of awards shows like the Grammys to be treated to gifting suites with luxury goods and services. But the gift bag for the 65th Grammy Awards on Sunday night is so rich, that it’s literally a suitcase stuffed with more than $60,000 worth […]
A Japan Shock Could Soon Hit Global Markets
A reversal in Japanese monetary policy would likely have major implications at a time when other central banks are withdrawing liquidity. Source link
How to pay for reparations in California? ‘Swollen’ wealth could replace ‘stolen’ wealth through taxes
The panel responsible for the nation’s first state-level exploration of reparations for Black Americans discussed an important question this weekend: How will the state pay for reparations?The California reparations task force listened to testimony from experts who suggested possible sources for compensation, after previous meetings had touched on the potential for hundreds of thousands of […]
Treasury yields edge lower as tech earnings disappoint, sparking risk aversion
Treasury yields edged lower on Wednesday as worries about a slowing U.S. economy hit appetite for risk and boosted demand for government bonds.What’s happeningWhat’s driving markets A risk-off tone across markets was encouraging investors to buy government bonds on Wednesday, nudging yields lower. Investors were focused in… Source link
The Government Debt Threat Keeps Mounting: WSJ
If you thought the 2008 financial crisis was bad, wait until Washington has to stop borrowing. Source link
Treasury yields fall after BOJ keeps ultra-loose monetary policy
Treasury yields slipped after the Bank of Japan maintained its ultra-loose monetary policy late Tuesday and as traders eyed a batch of U.S. economic updates due Wednesday.What’s happening The yield on the 2-year Treasury TMUBMUSD02Y, 4.160% slipped by 2.6 basis points to 4.186%. The yield on the 10-year Treasury TMUBMUSD10Y, 3.459% retreated 6.4 basis points […]