Robert Frank

Most expensive Tweets ever? Elon Musk’s wealth just fell by $23 billion after his Trump tweets.

The proposed tax hike on the wealthy, making $2.5m or more, is dead, again.
“There was a lot of pushback from our members, a lot of us that want to make sure that nobody gets a tax increase,” House majority leader Scalise told CNBC just now.

“Can I just say, good Lord!” Billionaire and philanthropist Paul Tudor Jones says the threats to non-profits are un-American. “Not-for-profits are the linchpin of the social safety net that keeps us keeps America great. There's nothing more important.”

The only way for the wealthy to leave the country and avoid the tax would be to permanently renounce their U.S. citizenship. How many would give up American citizenship over a 3% increase in the marginal rate?

Harvard’s complaint: “The Government has not and cannot identify any rational connection between antisemitism concerns and the medical, scientific and other research it has frozen.”

Tax attorneys say IRS has become a 'zombie' as agency cuts staff and halts audits of the wealthy With the IRS expected to lose about a third of its staff after firings and buyouts, wealthy taxpayers and attorneys are struggling to navigate the new regime.

IRS staffer Jack McCumber was working on audits totaling more than $150 million, involving wealthy taxpayers and partnerships. He was fired in February and the audits likely ended.
“I don’t think there will be enough people for those projects,” he told me. Audits of the wealthy have gone silent:

It appears that socks are the new status symbol for billionaires —
Marc Benioff and Ray Dalio at CNBC Converge Singapore

The four richest people in the world are all in the rotunda for Trump’s speech — Musk, Bezos, Zuckerberg and Arnault — representing more than $1 trillion in personal wealth. Never before in history…

Rupert Murdoch Fails in Bid to Change Family Trust A Nevada commissioner ruled resoundingly against Mr. Murdoch, who was trying to give full control of his empire to his son Lachlan and lock in Fox News’s right-wing editorial slant.

The Murdoch family feud that just resulted in a stunning defeat for Rupert was triggered by an episode of “Succession.” The episode where Logan Roy dies prompted Elisabeth to write a “Succession memo,” which kicked off an escalating battle among the Murdochs. Art imitates life, which imitates art.

The Sidewalk Fruit Vendor Who Sold a $6.2 Million Banana for 25 Cents A 74-year-old immigrant who works outside Sotheby’s shares a basement in the Bronx and works 12-hour shifts. He was stunned to hear what his banana went for at auction.

How one banana became a potent symbol of global inequality.
Incredible article on the Bangladeshi street vendor who sold a 25 cent banana — that auctioned for $6.2 million.

www.nytimes.com/2024/11/27/n...