Keep pulling the thread on Federal Reserve.
According to the Kalshi prediction market, the odds of a rate hike from the Federal Reserve this year have climbed to 43%.
The 2026 Billionaire Tax Act, which is now on the November ballot in California, would impose a one-time 5% tax on the assets of residents worth $1 billion or more.
Senator Bernie Sanders and Congressman Ro Khanna have introduced a federal bill that would impose a 5% annual tax on every American billionaire.
A provision in the California billionaire tax bill allows the legislature to expand the tax to any group, potentially lowering the wealth threshold to as little as $1.1 million.
High-net-worth individuals including Larry Page, Sergey Brin, Mark Zuckerberg, Travis Kalanick, and David Sacks have left California, partly in response to the tax environment.
The decline in New York City's millionaire population resulted in an annual tax revenue loss of $13 billion for the city and state.
Ken Griffin might move a planned $6 billion renovation of 350 Park Avenue from New York to Miami, resulting in a potential loss of 15,000 jobs for New York.
On May 19th, tech stocks declined ahead of Nvidia's earnings announcement.
Brent crude oil prices climbed back above $110 per barrel amid a lack of progress on Iran.
The yield on 30-year U.S. Treasuries reached its highest level since 2007 due to long-term energy inflation expectations.
While serving as Deputy Governor of Illinois, Bradley Tusk observed that 30 to 40 cents of every tax dollar was lost to inefficiency before reaching people in need.
Recent polling for the California billionaire tax shows approximately 50% support and 28% opposition.