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During the Supreme Court arguments on the Trump immunity case on Thursday, DEI justice Ketanji Brown Jackson signaled her dismay with the U.S. Constitution, seemingly angered by the fact that it doesn’t allow for the random political prosecutions of political figure, as if America were Burkina Faso. Like clockwork, the New York Times has followed […]
Joe Biden‘s 2025 budget proposal could raise the federal capital gains tax to as high as 44.6 percent for many Americans. When combined with state-level capital gains taxes, the rate could exceed 50 percent in some of America’s most populous states. Two provisions in the budget are responsible for the increase: one that raises the tax rate across the board and another that bumps the rate further on high-income earners.
A footnote in the Biden budget details the rate hike: “A separate proposal would first raise the top ordinary rate to 39.6 percent … An additional proposal would increase the net investment income tax rate by 1.2 percentage points above $400,000.” The footnote continues: “Together, the proposals would increase the top marginal rate on long-term capital gains and qualified dividends to 44.6 percent.”
Americans for Tax Reform (ATR)’s analysis of Biden’s budget further notes that “California will face a combined federal-state rate of 59 [percent], New Jersey 55.3 [percent], Oregon at 54.5 [percent], Minnesota at 54.4 [percent], and New York state at 53.4 [percent].” According to the tax group, if Biden‘s budget were enacted, the effective capital gains rate would be more than double that of Communist China.
The Biden capital gains plan would result in the highest rate ever enacted in the United States, exceeding the 40 percent rate under President Jimmy Carter. Additionally, ATR notes the budget proposal would also remove “stepped-up basis” when a parent dies, effectively enacting a second Death Tax. This would result in a mandatory capital gains tax realized at death. When Congress attempted to end the “stepped-up basis” in 1976, they had to reverse the decision before the law took effect as it was completely unworkable.
Carter would go on to lose the 1980 presidential election by a landslide.
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Joe Biden's 2025 budget proposal could raise the federal capital gains tax to as high as 44.6 percent for many Americans. When combined with state-level capital gains taxes, the rate could exceed 50 percent in some of America's most populous states. Two provisions in the budget are responsible for the increase: one that raises the tax rate across the board and another that bumps the rate further on high-income earners.
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Several American luminaries in tech and finance are preparing bids to acquire TikTok, following recently introduced legislation mandating that its Chinese parent company, ByteDance, divest from the app or see it banned in the U.S. Key figures involved in potential bids comprise Steven Mnuchin, former U.S. treasury secretary; Bobby Kotick, ex-CEO of Activision Blizzard, who is potentially partnering with OpenAI CEO Sam Altman; Bill Ackman, chief of Pershing Square hedge fund; and Kevin O’Leary, the well-known ‘Shark Tank’ investor.
The attempted acquisition of TikTok faces significant hurdles. ByteDance must still secure approval from the Chinese Commerce Ministry, which previously expressed strong opposition to a sale. Another challenge is the app’s core algorithm, which is unlikely to be part of the sale, meaning successful buyers would inherit just the brand and user base, necessitating a complete technological overhaul. ByteDance has reportedly said it would rather see the app banned than give up control due to concerns over its algorithm.
Based on analyst valuations, the potential purchasing party would also need to inject upwards of $100 billion into the deal. Furthermore, the acquisition must withstand regulatory scrutiny, predominantly from the Federal Trade Commission. Due to existing antitrust concerns, this effectively eliminates big tech players like Meta and Apple from the acquisition race.
On Wednesday, Joe Biden signed into law legislation mandating that ByteDance divest from TikTok within one year or else downloads and updates of the app will be banned in the U.S. TikTok also faces controversy in Europe, where regulators have launched an investigation into the app’s age-verification process and its “addictive features.”
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Several American luminaries in tech and finance are preparing bids to acquire TikTok, following recently introduced legislation mandating that its Chinese parent company, ByteDance, divest from the app or see it banned in the U.S. Key figures involved in potential bids comprise Steven Mnuchin, former U.S. treasury secretary; Bobby Kotick, ex-CEO of Activision Blizzard, who is potentially partnering with OpenAI CEO Sam Altman; Bill Ackman, chief of Pershing Square hedge fund; and Kevin O’Leary, the well-known 'Shark Tank' investor.
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The U.S. birthrate and fertility rate continue to decline significantly, according to provisional data from the Centers for Disease Control and Prevention (CDC). In 2023, the number of births decreased by two percent to about 3.6 million, while the general fertility rate saw a three percent drop to 54.4 births per 1,000 females aged 15 to 44.
The data reveals that the 2o23 birth rate is even lower than that recorded in 2020, the first year of the COVID-19 pandemic. The sharpest decline in births occurred among women in their 20s. Conversely, women over 40 were the only demographic to experience an increase in births, albeit at a low rate of 12.6 percent.
These declining rates coincide with data showing that new mothers continue to get older — a trend linked to higher educational achievements, increased workforce participation, and delayed marriages. Moreover, cesarean deliveries represented nearly a third of all births in 2023, even becoming more prevalent in low-risk births.
The trend of declining birthrates in the U.S. mirrors similar patterns in other affluent nations worldwide, potentially due to factors like economic instability, ongoing pandemic uncertainties, rising healthcare costs, and the influence of radical, anti-family feminism. Extremist proponents of ‘overpopulation theory’ have praised declining birthrates in Western nations. Last year it was reported that not a single EU nation has “self-sustaining birthrates.”
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The U.S. birthrate and fertility rate continue to decline significantly, according to provisional data from the Centers for Disease Control and Prevention (CDC). In 2023, the number of births decreased by two percent to about 3.6 million, while the general fertility rate saw a three percent drop to 54.4 births per 1,000 females aged 15 to 44.
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