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☆ 5 financially independent individuals and couples share the book that changed their investment strategy
▼ + stars: | 2024-05-04 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +4 min

When you invest in an index fund, you're essentially buying a basket of stocks that represents a broad market or theme. "That book makes a really good case for index funds." They own the Vanguard 500 Index Fund Admiral Shares Fund (VFIAX), the Vanguard Information Technology Index Fund ETF (ETF, VGT), and the Fidelity MSCI Information Technology Index ETF (ETF, FTEC). Note that ETFs, like index funds, offer an easy way to diversify and bundle several securities into one investment. Since index funds are passively managed, they typically have lower costs than actively managed funds — and, historically, they outperform active funds.

Persons: Carl, Mindy Jensen, JL Collins, Mindy, it's, They're, Collins, Jamila, Ali, Josh Lupo, Josh, Jack Bogle, Warren Buffett Organizations: Business, Independence, Apple, Microsoft, IRA, FIRE, Fund, Vanguard Information Technology Index Fund ETF, Fidelity Locations: American

☆ Migratory species are in a shocking state of decline, landmark UN report shows
▼ + stars: | 2024-02-12 | by ( Angela Dewan | Rachel Ramirez | ) edition.cnn.com time to read: +8 min

Migratory species include some of the most iconic animals on the planet, like elephants. Yasuyoshi Chiba/AFP/Getty ImagesBaby Leatherback sea turtles head to the sea at sunset on Indonesia's Lhoknga Beach in February 2023. Those activities also fragment migratory species’ pathways, sometimes making it impossible for them to complete their journeys. Around 58% of the monitored locations recognized as important for migratory species are facing what the CMS says are unsustainable levels of pressure from humans. “Migratory species have a special role in nature as they don’t recognize political boundaries,” said Anurag Agrawal, professor of environmental studies at Cornell University.

Persons: They’ve, Yasuyoshi Chiba, Chaideer Mahyuddin, Didier Brandelet, Kristin Laidre, Amy Fraenkel, Scott Gibbons, Zheng Yuanjian, Carl de Souza, Sergio Pitamitz, Wolfgang Kaehler, ” Inger Andersen, ”, Anurag Agrawal Organizations: CNN, UN, Convention, Animals, Getty, McCormick, United Nations Environment, Cornell University Locations: Asia, Alaska, Kimana, Kenya, AFP, Beach, Greenland, Elsehul, South Georgia, longline, Chicago, Lake Michigan, Xinhua, Mongolia, UN, Samarkand, Uzbekistan

☆ Return of bullfighting met by protests in Mexico City
▼ + stars: | 2024-01-29 | by ( Jack Guy | ) edition.cnn.com time to read: +2 min

CNN —Animal rights activists took to the streets of Mexico City on Sunday to protest the return of bullfighting to the capital after almost two years. “Bullfighting is more alive than ever and our fans are making the most of an enjoyable family atmosphere,” reads one post. Rodrigo Oropeza/AFP/Getty ImagesBullfighting was suspended in 2022 as part of a long-running legal case, but in December Mexico’s Supreme Court ruled that the events could take place once more, according to Reuters. Bullfighting has taken place in Mexico for centuries, but in recent years opposition to the practice has grown. In 2013, Sonora state became the first of Mexico’s 32 states to ban bullfighting, and a total of four states have now done so.

Persons: Joselito Adame, Rodrigo Oropeza, APASDEM, —, Carl De Souza, Andrés Manuel López Obrador Organizations: CNN, Animal, Getty, Facebook, México, Reuters, Protesters, Riot Locations: Mexico City, Plaza México, AFP, Spanish, Mexico, Sonora, Ecuador, Spain, Colombia, France, Peru, Portugal, Venezuela

☆ Dolly Parton says she refused to do a naked photo shoot for her 1978 Playboy cover
▼ + stars: | 2024-01-28 | by ( Ayomikun Adekaiyero | ) www.businessinsider.com time to read: +4 min

Dolly Parton tells Business Insider she didn't want to do a naked cover shoot for Playboy in 1978. AdvertisementDolly Parton says she was completely comfortable posing on the cover of Playboy magazine in 1978, but only if she could be fully clothed. For the cover shoot, she dressed up like the Playboy bunny, wearing a black bustier, black bunny ears, and a dazzling white bow tie connected to a pink collar. Dolly Parton dresses up as the Playboy bunny for her 1978 cover shoot. During her Playboy cover interview in 1978, Parton said she didn't want to do a naked photo shoot because she was worried about how her fans would react.

Persons: Dolly Parton, Parton, —, Harry Langdon, Carl Dean, I'm, Duncan Hines, Conagra Organizations: Playboy, Service, Conagra Brands, BI Locations: Rhimestones

☆ Dolly Parton says a typical date night with her husband Carl Dean is a home-cooked romantic dinner
▼ + stars: | 2024-01-26 | by ( Ayomikun Adekaiyero | ) www.businessinsider.com time to read: +3 min

Dolly Parton may be a superstar, but she enjoys date nights with her husband Carl Dean at home. "We meet downstairs and have a wonderful little romantic dinner," she says. AdvertisementFor Grammy-winning country music legend Dolly Parton, a typical date with her husband, Carl Dean, is a quiet, romantic dinner at home. "Usually, I'll cook a really nice romantic dinner with all the fixings and all the desserts," she says. "And so I go to my end where my closet is, and then I'll get all dressed up, and we meet downstairs and have a wonderful little romantic dinner," she continues.

Persons: Dolly Parton, Carl Dean, Parton, Dean, —, We've, Carl, Duncan Hines Organizations: Service

☆ I tried Dolly Parton's corn bread and it was one of the easiest recipes I've ever made
▼ + stars: | 2024-01-19 | by ( Anneta Konstantinides | ) www.businessinsider.com time to read: +1 min

I sat down with Dolly Parton and realized she's an expert when it comes to all things Southern food. Dolly Parton loves cooking traditional Southern food like corn bread. Bridget Bennett/AFP via Getty ImagesOn top of being a legendary musician and a fashion icon, Parton is also a great chef. "Miley and I both love Southern food like mashed potatoes, coleslaw, and a big ol' hunk of corn bread — making corn-bread muffins or a big pan of it with the squares," Parton told me. So when I stumbled on her corn-bread recipe, I knew I had to give it a go.

Persons: Dolly Parton, Bridget Bennett, Parton, Carl Dean, Miley Cyrus, Miley Organizations: Getty, Bell Locations: Southern

☆ I tried Dolly Parton's full Taco Bell order and found a new favorite menu item
▼ + stars: | 2024-01-19 | by ( Anneta Konstantinides | ) www.businessinsider.com time to read: +1 min

Dolly Parton is a huge Taco Bell fan. Dolly Parton is a huge Taco Bell fan. I brought up the chain when Parton and I sat down together on Zoom, and she was happy to share her usual Taco Bell order. Parton is also a huge fan of the Mexican Pizza, and joined forces with Doja Cat in May 2022 for "Mexican Pizza: The Musical," which celebrated its permanent return to Taco Bell menus. "I was just one of many, many people that had missed them," Parton told me.

Persons: Dolly Parton, Bridget Bennett, Parton, Taco, Carl Dean, Carl, we're, Andy Cohen, I'm Organizations: Taco Bell, Getty, Bell, Taco Supreme, Doja

☆ Kate Moss at 50: A supermodel through the decades
▼ + stars: | 2024-01-16 | by ( Amy Woodyatt | ) edition.cnn.com time to read: +7 min

CNN —British supermodel Kate Moss turns 50 today — and she remains as much a cultural icon as when she emerged as a breakout star more than three decades ago. Johnny Green/PA/Getty Images Kate Moss and her then-boyfriend, the actor Johnny Depp, attend the Golden Globe Awards in 1995. Dave M. Benett/Getty Images Kate Moss and Jamie Hince pose with bridesmaids after getting married on July 1, 2011 in Southrop, England. Jewel Samad/AFP/Getty Images Moss arrives for a screening of the movie "Loving" at the 2016 Cannes Film Festival. Scroll through the gallery above to see some of the most memorable moment’s from Kate Moss’ life and career.

Persons: Kate Moss, Moss, it’s, ”, Corinne Day, Cindy Crawford, Naomi Campbell, Claudia Schiffer, Chanel, Calvin Klein, Johnny Green, Johnny Depp, Ron Davis, Pierre Verdy, Donatella Versace, De, UPPA, Zuma Moss, Pete Doherty, MJ Kim, Alexander McQueen's, Andy Paradise, Banksy, Andy Warhol's, Marilyn Monroe, Carl De Souza, Marc Jacobs, Patrick McMullan, Mario Testino, Kate Who, Dave M, Jamie Hince, bridesmaids, Neil Mockford, Stella Tennant, Lily Cole, Karen Elson, Jourdan Dunn, David Gandy, Jewel Samad, Antonin Thuillier, Stella McCartney, Chris Joseph, Louis Vuitton's, Peter White, Lila, Princess Eugenie of York, Jack Brooksbank, George's, Alastair Grant, Stephane De Sakutin, Amber Valletta, Daniele Venturelli, Amber Heard, Evelyn Hockstein, Jamie McCarthy, David Bailey, Kate, ” Moss, Jefferson Hack, Marc Quinn, Lucian Freud, Johnny Cash, Paul McCartney, Elton John Organizations: CNN, Vogue, Burberry, British Vogue, Getty, Globe, Glastonbury Music, Olympic, London, Louis, Milan, BBC, Forbes, Stripes Locations: British, South London, Croydon, London, Couture, Paris, AFP, Glastonbury, New York City, Southrop, England, St, Windsor , England, Fairfax, Fairfax , Virginia, Arizona, Egypt

☆ The planet is heating up faster than predicted, says scientist who sounded climate alarm in the 1980s
▼ + stars: | 2023-11-02 | by ( Laura Paddison | ) edition.cnn.com time to read: +5 min

Some other scientists, however, have cast doubt on the paper’s conclusions that climate change is accelerating faster than models predict. Hansen, a director at the Earth Institute at Columbia University, is a renowned climate scientist whose 1988 testimony to the US Senate first brought global attention to climate change. US scientist James Hansen, pictured in 2013, is credited as the first to publicly raise the alarm about climate change in the 1980s. But while science is clear that the rate of global warming is increasing, the idea that it is accelerating beyond what models predict is controversial. The findings “are very much out of the mainstream,” said Michael Mann, a leading climate scientist at the University of Pennsylvania.

Persons: James Hansen —, Hansen, James Hansen, CARL DE SOUZA, geoengineering, ”, Michael Mann, ” Mann Organizations: CNN, Earth Institute, Columbia University, Senate, Getty, University of Pennsylvania Locations: China

What’s clear is that a less than lethal weaponry like a Taser, when used in the wrong hands, is indeed lethal,” Douglas told the commissioners. He was visiting family members in Los Angeles when he was stopped on suspicion of causing a hit-and-run traffic accident in the Venice area, police said. An officer found Anderson “running in the middle of the street and exhibiting erratic behavior,” according to a police account. At one point, officers pressed on his windpipe and one officer used a stun gun on him six times, according to Moore's report. That of course, when you steal life, it should be out of policy," said Melina Abdullah, co-founder of the Los Angeles chapter of Black Lives Matter.

Persons: Keenan Darnell Anderson, Michel Moore, Anderson, ”, Carl Douglas, wasn't, Keenan Anderson, ” Douglas, ” Anderson, Patrisse Cullors, “ They’re, George Floyd me, Melina Abdullah, shouldn’t, J, Fuentes, Ford, “ Mr Organizations: ANGELES, Los, of Police, Police, Washington , D.C, LAPD, Los Angeles Police Protective League, Mr Locations: Anderson's, Washington ,, Los Angeles, Venice

MADISON, Wis. (AP) — The Great Lakes’ frigid fresh water used to keep shipwrecks so well preserved that divers could see dishes in the cupboards. Quagga mussels, native to Russia and Ukraine, were discovered in the Great Lakes in 1989, around the same time as their infamous cousin species, zebra mussels. Scientists believe the creatures arrived via ballast dumps from transoceanic freighters making their way to Great Lakes ports. They consume so many nutrients at such high rates they can render portions of the murky Great Lakes as clear as tropical seas. After 30 years of colonization, quaggas have displaced zebra mussels as the dominant mussel in the Great Lakes.

Persons: Tamara Thomsen, Wayne Lusardi, ”, they're, quaggas, Harvey Bootsma, Edmund Fitzgerald, Gordon Lightfoot, Daniel J, Carl D, Bradley, Frank H, Moody, Brendon Baillod, Bob Jaeck, Baillod, Milwaukee's Bootsma, “, ” Baillod Organizations: Tuskegee, “, University of California, Riverside’s, Species Research, Biologists, University of Wisconsin, Milwaukee's, Freshwater Sciences, Tuskegee Airmen, Tuskegee Army Air Field, UW Locations: MADISON, Wis, Canadian, Ontario, ” Wisconsin, Superior, Lake Huron, Swiss, Russia, Ukraine, Great, Great Lakes, Lake Michigan, Lake Superior, Cedarville, Straits, Mackinac, Alabama, Madison, Trinidad, Algoma , Wisconsin, Michigan, Milwaukee, Detroit, Chicago, Toledo , Ohio

☆ Ecuador votes in historic referendum that could democratize climate policy
▼ + stars: | 2023-08-20 | by ( Hannah Holland | ) edition.cnn.com time to read: +6 min

CNN —The people of Ecuador are heading to the polls – but they’re voting for more than just a new president. Among the species found in the Yasuní National Park, is the harpy eagle, the second largest bird of prey in the world. Aerial picture of the Tiputini Processing Center of state-owned Petroecuador in Yasuni National Park, June 21, 2023. A crude oil sample taken from an oil well in Yasuní National Park, where the referendum vote could mean leaving the crude oil in the ground indefinitely. Rodrigo Buendia/AFP/Getty Images“This referendum presents a huge opportunity for us to create change in a tangible way,” she told CNN.

Persons: Carl De Souza, ”, Pedro Bermo, It’s, Rafael Correa, Correa, Rodrigo Buendia, “, Fernando Santos, Alberto Acosta, Helena Gualinga, Antonia Juhasz Organizations: CNN, Getty, Tiputini Processing, ” Energy, “, Twitter, Ecuadorian Amazon, Human Locations: Ecuador, Ecuadorian, Europe, North America, Ecuador’s, AFP, Yasuní, “

☆ Cindy Crawford recreates her iconic Pepsi ad in ‘One Margarita’ music video
▼ + stars: | 2023-08-01 | by ( Scottie Andrew | ) edition.cnn.com time to read: +3 min

CNN —TikTok’s song of the summer, the ecstatically explicit “One Margarita,” just got a raucous new music video — with a cameo from none other than supermodel Cindy Crawford. In the music video, Crawford recreates her famous 1992 Pepsi Super Bowl ad, in which she visited a dusty vending machine at a general store to grab and gulp a cold Pepsi while young boys ogled her. With one margarita, Moore raps, she’ll “open her legs.” By the time she’s had five margaritas, well, even her partner is feeling open to experimentation. From Giant Music“One Margarita (The Margarita Song)” was originally improvised by Moore on the spot in May. The original 1992 Pepsi ad featured Cindy Crawford gulping down the soda in sweltering heat.

Persons: CNN —, Margarita, ”, Cindy Crawford, Chick Angel, Crawford, margarita, Rande Gerber, Angel Laketa Moore, Moore, she’ll, she’s, she'll, Kevin Fredericks, Cindy, tickled Moore, Fredericks, Casa, Steve Terrell, Carl Dixon, —, Saucy Santana, Cindy Crawford gulping, James Corden Organizations: CNN, Pepsi, Louisiana State University, Children’s Locations: Mexican, Madison , Wisconsin

☆ Who is RFK Jr.? Meet the controversial conspiracy theorist running against Joe Biden in the Democratic primaries
▼ + stars: | 2023-07-19 | by ( Talia Lakritz | ) www.businessinsider.com time to read: +1 min

A longtime anti-vaxxer, Kennedy continues to promote conspiracy theories about the COVID-19 pandemic. Robert F. Kennedy Jr. testifies during a public hearing about vaccine-related bills in 2015. In 2005, he wrote an article published on Salon claiming that the mercury-based thimerosal compound in vaccines causes autism. Kennedy founded the anti-vaccine group Children's Health Defense, originally named the World Mercury Project, in 2011. "COVID-19 is targeted to attack Caucasians and Black people," he said.

Persons: Kennedy, Robert F, Kennedy Jr, Carl D, Anne Frank Organizations: Walsh, Portland Portland Press, Getty, Salon, Health Defense, Mercury, Facebook, New York Times, New York Post Locations: Hitler's Germany, Switzerland, New York City

☆ London's police force steps up crackdown on rogue officers
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +2 min

Last month, an independent review found the Metropolitan Police to be institutionally racist, misogynistic and homophobic, and unable to police itself. The review called for urgent reform of Britain's biggest force known as the Met. The Met's new chief Mark Rowley, who took over last September, has vowed to rid the force of unsuitable individuals among its more than 43,000 officers and staff. Further reviews are ongoing to assess the vetting of serving officers and all staff are being checked against the Police National Computer (PNC), which records convictions. Reporting by Farouq Suleiman and Sachin Ravikumar Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. bank crisis 'unlikely' to spill over to Canada, analyst says
▼ + stars: | 2023-03-20 | by ( Divya Rajagopal | ) www.reuters.com time to read: +4 min

read more"The U.S. contagion is unlikely to spill over to Canadian banks as the issues in U.S. are unique and specific to certain business models or lending activities," said James Shanahan, banking analyst with Edward Jones to Reuters. REGIONAL BANK SCRUTINYCanadian banks emerged stronger from the 2008 global financial crisis due to prudent regulations and since built a reputation for financial stability. The Canadian banks have kept their focus on domestic lending and majority of their earnings come from serving local clients. But in recent years, Royal Bank, BMO, TD Bank and CIBC (CM.TO) have expanded into the United States by buying regional lenders to benefit from strong growth in second-tier U.S. cities. However, last week the regional bank's stock was hit after the SVB collapse.

☆ U.S. bank crisis 'unlikely' to spill over to Canada, analysts say
▼ + stars: | 2023-03-20 | by ( Divya Rajagopal | ) www.reuters.com time to read: +4 min

"The U.S. contagion is unlikely to spill over to Canadian banks as the issues in U.S. are unique and specific to certain business models or lending activities," said James Shanahan, banking analyst with Edward Jones to Reuters. REGIONAL BANK SCRUTINYCanadian banks emerged stronger from the 2008 global financial crisis due to prudent regulations and since built a reputation for financial stability. The Canadian banks have kept their focus on domestic lending and majority of their earnings come from serving local clients. But in recent years, Royal Bank, BMO, TD Bank and CIBC (CM.TO) have expanded into the United States by buying regional lenders to benefit from strong growth in second-tier U.S. cities. However, last week the regional bank's stock was hit after the SVB collapse.

☆ Carbon-Credit Raters Aim to Assess a Notoriously Opaque Market
▼ + stars: | 2023-02-07 | by ( Shane Shifflett | Dieter Holger | ) www.wsj.com time to read: +7 min

Carbon-credit-rating firms aim to give buyers confidence in assessing the unregulated market for carbon offsets, voluntary credits that can help companies fulfill their decarbonization promises. Traders, online marketplaces and corporate sustainability departments are typical customers for carbon-credit ratings, but companies increasingly encounter the scores through intermediaries selling the offsets. Sylvera Ltd., one of the carbon-credit raters, said that less than a third of projects aimed at preventing deforestation are high quality. The market for voluntary carbon credits topped $2 billion in 2022, according to publisher and researcher Ecosystem Marketplace. BeZero has fully rated around 280 projects, Calyx around 260, Sylvera around 115 and Renoster has fully reviewed nine.

☆ Bed Bath & Beyond just missed another debt payment. See the full list of stores it will close, including Harmon and Buybuy Baby locations.
▼ + stars: | 2023-02-02 | by ( Avery Hartmans | Dominick Reuter | ) www.businessinsider.com time to read: +20 min

In addition to 87 more Bed Bath & Beyond stores, the company now says it will close all of its remaining Harmon health and beauty stores, and five Buybuy Baby stores. San Leandro: 15555 East 14th St., Suite 24015555 East 14th St., Suite 240 Burbank: 201 East Magnolia Blvd. Marina: 117 General Stilwell Drive117 General Stilwell Drive Vallejo: 105 Plaza Drive, Suite 107105 Plaza Drive, Suite 107 * Palm Desert: 72459 Highway 11172459 Highway 111 * Visalia: 3125 South Mooney Blvd. Arterial * Coralville: 2515 Corridor Way Suite 5Kansas:Lawrence: 3106 S. Iowa St., Suite 2153106 S. Iowa St., Suite 215 Manhattan: 425 3rd Place425 3rd Place * Olathe: 15335 W. 119th St.Kentucky:Elizabethtown: 1998 N. Dixie Ave.1998 N. Dixie Ave. New Hartford: 4805 Commercial Drive4805 Commercial Drive Kingston: 1187 Ulster Ave.1187 Ulster Ave. Plattsburgh: 73 Centre Drive, Suite 10073 Centre Drive, Suite 100 Farmingdale: 251 Airport Plaza Blvd.

☆ Brazilian authorities brace for possible repeat of uprising
▼ + stars: | 2023-01-11 | by ( Associated Press | ) www.nbcnews.com time to read: +6 min

It was unclear how large or violent such demonstrations might shape up to be, but skittish authorities took no chances. Citing the call to action on social media, a Supreme Court justice ordered local authorities in cities across Brazil to prevent protesters from blocking roads or occupying public spaces and buildings. A police officer carries away part of a vandalized sculpture Tuesday at the Supreme Court building in Brasília. Carl De Souza / AFP - Getty ImagesJustice Minister Flávio Dino told local press this week that authorities have identified some of the protest’s financiers. In November, the Supreme Court froze 43 bank accounts of people accused of having financed roadblocks that disrupted highway traffic in the wake of Lula’s victory.

☆ Brazil prepares to bury Pelé in the city he made a soccer mecca
▼ + stars: | 2023-01-03 | by ( Associated Press | ) www.nbcnews.com time to read: +5 min

Forty-five years after Pelé played his last game, it’s hard to imagine modern soccer, or Brazil, without him. Pelé will be buried Tuesday in the city where he grew up, became famous, and helped make into a global capital of soccer. The coffin of Brazilian soccer great Pelé is carried Monday to the Vila Belmiro stadium in Santos, Brazil. He made soccer important for Brazil and he made Brazil important for the world,” he said. Pelé led Brazil to World Cup titles in 1958, 1962 and 1970 and remains one of the team’s all-time leading scorers with 77 goals.

The transaction is also fraught with regulatory risks, analysts said, though RBC argues that HSBC's Canada business accounts for just 2% of Canadian banking market share. The finance minister has the authority to impose any terms and conditions, the finance department said in a statement. "This regulatory assessment isn't likely to be completed for some time," Calvin Goldman, former commissioner of Canada's competition bureau, told Reuters, referring to the latest deal. QUICK MOVEDespite the expected regulatory risks, RBC was keen to move quickly. RBC is paying 9.4 times HSBC's 2024 adjusted earnings, which KBW analysts said was a steep price, though offset by savings potentials.

Two police officers in Colorado have been charged nearly two months after a 20-year-old was seriously injured when she was struck by a train while handcuffed in the back seat of a patrol SUV parked on a railroad crossing. The Colorado Bureau of Investigation has said the officers were responding Sept. 16 to an alleged road rage incident involving a gun. Two Fort Lupton officers arrived and she was detained on suspicion of felony menacing. She was placed in the back of the Platteville officer's vehicle, which the train hit as it was traveling northbound while officers searched her car. Rios-Gonzalez was charged with one count of felony menacing, the district attorney's office said.

☆ Dolly Parton says she doesn’t plan to tour again, confirms she's working on a rock 'n' roll album
▼ + stars: | 2022-10-28 | by ( Alexander Kacala | ) www.nbcnews.com time to read: +2 min

In an interview with Pollstar magazine published Thursday, Parton said she plans to do occasional "special shows" but doesn't think she'll tour again. When it comes to her fervent fans, Parton thanks technology for keeping her so connected to them without touring. “You can do special shows in special ways. I will be doing some of that.”Parton also said she's working on a rock ’n’ roll album and hopes to have some legends of the genre sing with her. "When I got nominated for the Rock & Roll Hall of Fame, I thought 'Well, no better time to do it,'" she told Pollstar.

☆ These are the wealthiest US states, according to a new report — and a wealth tax on the country's richest would raise $415 billion
▼ + stars: | 2022-10-13 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +5 min

That family is already effectively paying a wealth tax in their local property tax bill every year on the home that they own," Davis said. Once they're sold off, they're subject to the capital gains tax, which is much lower than the straightforward income tax most Americans pay on their paychecks. If wealth over $30 million there was subject to a 2% wealth tax, it would bring in $88 billion. According to the report, at the national level, a 2% wealth tax on those with over $30 million could bring in about $415 billion. "We've seen a big rise in extreme wealth, partly because we tax that wealth so lightly, if at all," Davis said.

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