Economy Apr 12 Watch 8:27 Why corporations are reaping record profits with inflation on the rise Despite rising inflation, major U.S. corporations are reporting record profits, as companies pass rising supply-chain costs onto consumers. Economics correspondent Paul Solman explores whether concentrated market power is contributing to inflation. By Paul Solman, Lee Koromvokis
Economy Mar 30 Watch 6:51 Democrats unveil new plan to increase taxes on billionaires President Biden unveiled a budget proposal this week that includes a new wealth tax targeting the richest Americans and aimed at addressing wealth inequality. The latest Democratic proposal would affect households worth $100 million or more. Dan Primack, business editor… By Lisa Desjardins, Dorothy Hastings
Nation Oct 28 ‘It’s stupid,’ billionaires complain about proposed tax Elon Musk isn't happy. With a personal fortune that is flirting with $300 billion, the Tesla CEO — the richest person on earth — has been lashing out at a Democratic proposal to tax the assets of billionaires like him. By Haleluya Hadero, Associated Press
Nation Oct 27 What’s the so-called ‘wealth tax’ in Biden’s proposed bill, and how would it work? To help pay for his big economic and social agenda, President Joe Biden is looking to go where the big money is and that's billionaires. By Josh Boak, Associated Press
Oct 03 Leaked records open a ‘Pandora’ box of financial secrets By Jonathan Mattise, Michael Liedtke, Associated Press Hundreds of world leaders, powerful politicians, billionaires, celebrities, religious leaders and drug dealers have been hiding their investments in mansions, exclusive beachfront property, yachts and other assets for the past quarter-century, according to a review of nearly 12 million files… Continue reading
Feb 19 In South Carolina, Sanders could get a boost from billionaire Steyer By Meg Kinnard, Associated Press Steyer has been courting black voters in the state and has spent tens of millions on ads. That could siphon support from Biden, creating an opening for Sanders. Continue reading
Jan 31 Bloomberg could qualify for Democratic debate under new party rules By Bill Barrow, Steve Peoples, Associated Press The Democratic National Committee has dropped grassroots fundraising qualifications for the party's Feb. 19 debate before the Nevada caucuses, opening the possibility that billionaire Michael Bloomberg could make his first appearance on stage. Continue reading
Dec 02 Can a self-funded billionaire win over liberal Democrats? By Daniel Bush Michael Bloomberg and Tom Steyer's presidential campaigns will test the country’s appetite for rich, self-funded candidates in a year where some of the most popular platforms for the leading Democratic 2020 contenders include vowing to tax the ultra wealthy to… Continue reading
Sep 29 Watch 10:16 China is producing billionaires faster than any other nation By Katrina Yu Communist China's planned economy once prevented its citizens from becoming wealthy. But China now produces billionaires faster than any country in the world, even as President Xi Jinping has cracked down on ostentatious displays of wealth. Special correspondent Katrina Yu… Continue watching