tax

U.S. stock futures were fluctuating on Tuesday after trimming gains from their records on Monday. Futures of major benchmark indices were trading mixed. President Donald Trump announced sweeping 25% tariffs on all imports from Japan and South Korea, and sent letters to a total of 14 countries, all...

U.S. stock futures declined on Monday after scaling fresh records in the previous truncated week. Futures of major benchmark indices were trading lower. President Donald Trump said that he would be sending out letters to America's trading partners, announcing that tariffs would be back to April 2...

Financial analyst Gary Black, the managing partner at the Future Fund LLC, has issued a bold take on the U.S. fiscal health, likening the nation's debt to corporate debt levels and calling it “fairly low.” What Happened: In a post on X, Black argued that the U.S. debt-to-GDP ratio of...

U.S. futures rose on Monday after a record close on Friday. Futures of major benchmark indices were trading higher. As the July 9 deadline for President Donald Trump‘s reciprocal tariffs comes closer, on Friday, he suggested that the deadline for a U.S.-EU trade deal might not be set in stone...

Economist Peter Schiff has sharply criticized Donald Trump‘s recent decision to postpone threatened 50% tariffs on European products, dismissing the move as a “fake win” that ultimately leaves American consumers footing a higher bill. What Happened: In an X post, Schiff weighed in...

Economist Peter Schiff has sharply criticized Treasury Secretary Scott Bessent for downplaying the role of President Donald Trump's tax cuts in the recent Moody's downgrade of the U.S. sovereign credit rating, instead pinning the blame on the Joe Biden administration. What Happened: Schiff's...

In a bold departure from prevailing economic forecasts, Cathie Wood, the CEO and CIO of ARK Investment Management, has asserted that the prolonged “rolling recession,” that has gripped the U.S. economy for the past three years is nearing an end, paving way for a productivity-led...

President Donald Trump says that his administration will strip Harvard University of its tax-exempt status, intensifying an ongoing confrontation with the Ivy League institution. “We are going to be taking away Harvard’s Tax Exempt Status. It’s what they deserve,” Trump...

After President Donald Trump unveiled the tariffs on all its trading partners on Wednesday, this economist recalled his analysis of tariffs being used to fund tax cuts. Meanwhile, another senior economist highlighted other possible implications of the tariff announcements. What Happened: Craig...

NBA icon Shaquille O’Neal once exhausted a $1 million paycheck in a single day, oblivious to the fact that a portion of his earnings were earmarked for taxes. What Happened: O’Neal disclosed this financial faux pas during an episode of the financial literacy podcast “Earn Your...

Gov. Phil Murphy's proposal to raise New Jersey's cannabis excise tax from $2.50 to $15 per ounce has ignited a fierce debate among lawmakers and industry leaders. Billed as a strategy to fund social programs, the sixfold increase has raised concerns about its potential impact on the state's legal...

Former U.S. Secretary of Labor Robert Reich has called out the tax reduction plans of the Donald Trump-led administration in an X post, terming them as an “absolutely shameless giveaway,” that could shoot up the deficit by $4.6 trillion. What Happened: The possible tax cuts for rich...

As President-elect Donald Trump prepares a major legislative push after he takes office in less than two weeks, a group of Republicans is threatening to block his tax reform agenda unless the controversial State and Local Tax (SALT) deduction cap is addressed. These lawmakers, known as the SALT...

Former President Donald Trump has proposed making the interest on car loans tax-deductible for vehicles manufactured in the United States. This move is seen as an attempt to bolster the American auto industry and attract voters. What Happened: Trump made this announcement on Tuesday during a rally...