Property taxes around the U.S. have long been a lightning rod for debate, with political leaders perpetually balancing the need to fund their budget priorities against the risk of alienating homeowners and businesses. This week, for example, New York City Mayor Zohran Mamdani sparked an uproar by proposing to close a budget hole by sharply raising property taxes.
If artificial intelligence eliminates millions of jobs, it might make sense to scrap income taxes for the vast majority of Americans and target capital instead, Vinod Khosla says. "AI will transform economies and need a rethink of capitalism & equity," the billionaire venture capitalist wrote in an X post on Monday. "Labor portion of economy (vs capital) will decline sharply. Should we eliminate preferential treatment of capital gains tax and equalize to ordinary income?"
A new report from the Tax Foundation, a nonpartisan think tank, found that the average tariff burden for U.S. households was $1,000 in 2025 and is expected to grow to $1,300 this year, effectively cancelling out any benefit from the tax cut and falling short of paying for them. Tariffs will raise a net $1.9 trillion between 2025 and 2034, the Tax Foundation estimates, but the cuts will reduce revenue by $4.1 trillion.
LDP looks set to secure 316 seats in Japan's 500-member house, marking its best result since its founding in 1955. Japan's Prime Minister Sanae Takaichi has promised to cut taxes and keep her cabinet intact as she celebrated her Liberal Democratic Party's (LDP) landslide victory in Sunday's general election. Takaichi's pledge on Monday came as projections by the NHK broadcaster showed the conservative LDP securing 316 seats in the 500-member National Assembly and winning a historic two-thirds majority in the lower house.
What we don't give credit to [are] these extremely successful entrepreneurs that create hundreds of 1000's of jobs in America...if not millions,
Anthropic CEO Dario Amodei has a grave warning for fellow AI titans who dismiss the public's concerns about AI. "You can't just go around saying we're going to create all this abundance, a lot of it is going to go to us, and we're going to be trillionaires, and no one's going to complain about that," Amodei told Axios in an interview. "Look, you're going to get a mob coming for you if you don't do this in the right way."
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including seeing membership of the Congressional Real Estate Caucus, a bipartisan group working to tackle housing supply and affordability, grow to 100 members; having over 1000 grants, programs and initiatives funded to advance pro-housing policies and elect legislators focused on housing at the state and local level; defeating 11 harmful tax proposals over the past decade, which NAR said prevented $1.3 trillion in new taxes on real estate;
AI czar David Sacks said California is taking a potentially "scary direction" if voters approve a wealth tax on billionaires. "This is not a tax, this is an asset seizure," Sacks told CNBC on the sidelines of the World Economic Forum in Davos. Sacks, a longtime venture capitalist, is just one of the many voices in the tech industry who have denounced "The Billionaire Act." Craft Ventures, the firm Sacks cofounded with Bill Lee, previously announced that Sacks had relocated to the Austin area in December.
The governor's budget proposal, the first step in hammering out a new spending deal with the state Legislature by April 1, includes plans to provide free childcare to children aged two and over in New York City and children aged four and up throughout the rest of New York State, pledging $4.5 billion to expand free childcare statewide. That investment represents a $1.7 billion increase compared to the 2025 state budget.
Mayor Zohran Mamdani used his Martin Luther King Jr. Day speech at the Brooklyn Academy of Music (BAM) on Monday to push back against warnings that his plan for higher taxes on wealthy New Yorkers would drive them out of the city, arguing that city leaders have ignored what he described as a more concrete and damaging population loss. When I speak about how the wealthiest in this city should pay a little bit more in taxes, I am often told about a potential exodus, Mamdani said.
Over the summer, the Trump administration held an unusual Independence Day celebration at the White House. A live band warmed the crowd with renditions of Chaka Khan's "Ain't Nobody" and Pharrell Williams's "Happy" before the president emerged from the first-floor balcony of the executive residence. Supporters sporting red MAGA caps looked on as he signed the Big Beautiful Bill into law beneath the South Portico's white columns.
According to the proposal, the cost of the program would equal approximately 3% of Tennessee's annual state budget. It could be funded by the state's recurring surplus estimated at $1.5 billion to $2.5 billion per year. Mitchell asserted that Tennessee has the fiscal capacity to support the initiative without cutting existing services or raising taxes. The money is there. The question is priority, he said.
On January 1, a provision in former President Joe Biden's 2021American Rescue Plan that made student-loan forgiveness tax-free expired. It means that student-loan borrowers who qualify for student-loan forgiveness in 2026 could face thousands of dollars in new taxes alongside their debt relief. It's a concern for borrowers who are close to reaching their qualifying number of payments on an income-driven repayment plan or the Public Service Loan Forgiveness program, which forgives student debt for government and nonprofit workers after 10 years of qualifying payments.
The Government has left workers with next to no reason to welcome in the new year. It has failed to keep many of the resolutions made before the general election and in the new programme for government,
One of the City of London's most prominent financiers has become the latest billionaire to relocate abroad, adding momentum to the growing exodus of wealthy individuals from the UK. Alan Howard, the co-founder of hedge fund group Brevan Howard Asset Management, is understood to have taken up residency in Switzerland, according to UK registry filings cited by Bloomberg. Howard, 62,
The survey, which was conducted in early December by The Associated Press-NORC Center for Public Affairs Research, found that about half of U.S. adults say they've already made their charitable contributions for 2025. Just 18% say they've donated and will donate again before the year is over. Only 6% report they haven't given yet but will do so by December's end. The rest, 30%, haven't donated and don't plan to.
published Friday, warning that the U.S. is barreling toward a fiscal crisis if major changes are not made to entitlement programs and the tax code. In the piece, Romney argues that the projected bankruptcy of the Social Security Trust Fund by 2034 represents an urgent economic threat. Today, all of us, including our grandmas, truly are headed for a cliff, he wrote, noting that if the trust fund runs out, benefits would be cut by about 23 percent.
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
A group of New Hampshire Republicans gathered inside the Massachusetts State House Thursday to "endorse" Gov. Maura Healey, saying that her policies are driving business to the Granite State. New Hampshire state reps. Brian Labrie, Joe Sweeney, and Joe Alexander partnered with the conservative-leaning think tank Massachusetts Fiscal Alliance for the event. They displayed a poster comparing New Hampshire's low or nonexistent taxes to those in Massachusetts, above a message that read "New Hampshire can't afford to lose a friend like Maura!"
