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December 16, 2019
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Government taxation and revenue

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Elizabeth Warren’s wealth tax would raise $1 trillion less than she estimates, Wharton study shows

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Elizabeth Warren’s wealth tax, if implemented in 2021, would raise $1 trillion to $1.4 trillion less the campaign says, Wharton finds. Source link: Click here for more
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How the experts would fix Social Security if they had their way

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The clock is ticking when it comes to whether action will be taken before Social Security has to reduce benefits to benficiaries. Here’s how experts would restore or overhaul the system if they had their way. Source link: Click here for more
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One step you can take in 2020 to head off a tax surprise

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The IRS has released its updated Form W-4 just in time for the new year. Here’s how to use it to fine-tune the taxes withheld from your paycheck. Source link: Click here for more
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E-commerce billionaire Michael Rubin: There needs to be ‘more pressure’ on wealthy to give back

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Rubin says that while there’s a “responsibility” when it comes to giving back, it’s better to “bet on the entrepreneur” than on the government. Source link: Click here for more
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‘Tax Cuts 2.0’ could include a rate reduction for the middle class. Here’s who would benefit most

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The idea is to lower taxes on America’s middle earners in a package dubbed “Tax Cut 2.0.” Yet one of the early ideas floated — reducing the 22% rate to 15% — could miss the mark. Source link: Click here for more
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Blue states file appeal in legal battle over SALT tax deductions

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New York, New Jersey, Connecticut and Maryland filed an appeal on Tuesday, contesting the dismissal of their federal lawsuit over the $10,000 cap on state and local tax deductions. Source link: Click here for more
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California court tosses law aimed at forcing Trump to release tax returns to get on primary ballot

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But Trump has suffered repeated losses in federal courts to block the release of his tax returns to a House panel and the Manhattan District Attorney’s Office. Source link: Click here for more
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Trump asks Supreme Court to block another subpoena for his tax returns — this one is from Congress

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Trump’s lawyers are battling Congress and a New York prosecutor to keep the president’s tax returns secret, even as he faces an impeachment probe. Source link: Click here for more
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Lloyd Blankfein mocks Elizabeth Warren after attack ad: ‘Maybe tribalism is just in her DNA’

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“Maybe tribalism is just in her DNA,” Blankfein said in an apparent dig at Warren’s much-criticized prior claims of Native American ancestry. Source link: Click here for more
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Economist who gave analysis to Warren’s ‘Medicare for All’ plan offers alternatives to a wealth tax

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“It’s going to be pretty tough to execute on that,” Mark Zandi, chief economist at Moody’s Analytics, says of Elizabeth Warren’s proposed wealth tax. Source link: Click here for more
CNBC - Real Estate

Homeowners get highest rates of return when selling in these 3 cities

CNBC Real Estate
Seb Oliver | Image Source | Getty Images If you’re thinking of buying a home in Las Vegas — congratulations! You just might make a bundle when the time comes to sell it. That’s because the average annual internal rate of return for a homeowner in Sin City is 13.29%,...
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Jeff Bezos would pay over $6 billion a year in taxes under Warren plan

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As part of her plan to pay for Medicare for All, presidential hopeful Sen. Elizabeth Warren said she would double the top rate of her wealth tax to 6% from 3%. Source link: Click here for more
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Leon Cooperman has made a lot of controversial comments about Warren, Obama and others

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Billionaire investor Leon Cooperman, who recently has traded jabs with Sen. Elizabeth Warren, once said of President Barack Obama: “When he ran for President, he’d never worked a day in his life. Never held a job.” Source link: Click here for more
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Cramer to Elizabeth Warren: Leon Cooperman wrong billionaire ‘whipping boy’ to sell wealth tax

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CNBC’s Jim Cramer defends Cooperman and the “substance of the letter” the investor sent to the senator “debating their math.” Source link: Click here for more
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Elizabeth Warren says she would not raise middle class taxes for $52 trillion health care plan

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As she became one of the frontrunners in the Democratic presidential race, Elizabeth Warren faced more pressure about funding Medicare for All. Source link: Click here for more
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Here’s the tax bill on Powerball, Mega Millions jackpots so far this year

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The 12 winners who have hit Powerball and Mega Millions jackpots in 2019 — worth an advertised $3.3 billion in all — have paid the IRS more than a half-billion in tax dollars. That won’t be the last of it. Source link: Click here for more

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