Biden’s billionaire tax hits the super-rich. Can a wealth tax work?

Calls for a wealth tax on the world’s super-rich are once again gaining attention after U.S. President Joe Biden said he would impose a new “billionaire tax” on the country’s wealthiest if re-elected in November. Outlining his 2025 budget proposals on Monday, Biden took aim at the uber affluent and reiterated plans for a 25% … Read more

For $7,500 EV tax credit, you may no longer have to wait until tax time

Halfpoint Images | Moment | Getty Images Consumers no longer have to wait to file their annual tax returns to get a tax break for the purchase of a new electric vehicle. At the start of 2024, the federal “new clean vehicle” tax credit became available as a point-of-sale discount — worth up to $7,500 … Read more

Mega-rich renew call on global leaders at Davos to ‘tax our extreme wealth’

Austrian Marlene Engelhorn, who inherited from her family who owns the Germany’s chemical giant BASF, poses with a placard reading “Tax the rich!” at the entrance of the Congress center on the opening of the annual meeting of the World Economic Forum (WEF) in Davos, on January 15, 2024. (Photo by Fabrice COFFRINI / AFP) … Read more

$7,500 EV tax credit may be easier, and harder, to get in 2024

Praetorianphoto | E+ | Getty Images The $7,500 tax credit for new electric vehicles will be easier for many consumers to claim in 2024, but it may be more difficult for others. These opposing dynamics are due to federal policies taking effect at the same time. One policy kicking in Jan. 1 will allow car … Read more