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☆ The pandemic has changed when Americans expect to retire
▼ + stars: | 2024-05-15 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Most non-retired adults have some type of retirement savings, but only 36% think their savings are on track. New research from economists at the Federal Reserve Bank of New York finds that this retirement savings deficit hasn’t made a dent in when Americans plan to exit, or partially exit, the workforce. “The pandemic-induced change in retirement expectations may continue to affect the labor market in years to come,” they wrote. Yes, but: This is a survey of expectations, researchers at the New York Fed are quick to point out. Just because Americans say they plan to shift to part-time work or retire early, it doesn’t mean that they’ll be able to.

Persons: Felix Aidala, Gizem Kosar, Wilbert van der, ”, They’re, Alicia Wallace, delinquencies, Joelle, CNN’s Parija, Donna Morris, Morris, ” Morris Organizations: CNN Business, Bell, New York CNN, Census, Federal Reserve Bank of New York, Social Security, New, Survey, SCE, triannual, Social, Social Security Agency, Lawmakers, New York Fed, Federal Reserve Bank of New, “, Public Policy Research, Credit, Walmart, CNN, San Francisco Bay Area Locations: New York, United States, York, Federal Reserve Bank of New York, Bentonville , Arkansas, Walmart’s Dallas, Atlanta, Toronto, Bentonville, San Francisco Bay, Hoboken , New Jersey

☆ A $1.35 billion lottery winner's own father turned against him in a messy family lawsuit
▼ + stars: | 2024-05-14 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +4 min

Read previewA lawsuit brought by a $1.35 billion lottery winner against the mother of his child has taken a new twist, with the winner's own father siding with the defendant. AdvertisementDoe has sought to maintain his anonymity, but claims that the woman — named pseudonymously as "Sarah Smith" — told his father, leading to several other family members finding out. In response, Smith's lawyers point out that Doe's own motion said that he'd "made the mistake" of telling his father. This, Smith's lawyers said, "knocks the struts out from under his complaint." Smith's lawyers accused Doe of pursuing her through a baseless, costly, and intimidatory court battle because she would not agree to get back together with him.

Persons: —, John Doe, Doe, Sarah Smith, Smith's, Doe's, Smith, stepmom, It's Organizations: Service, Business, Daily Locations: Maine

☆ Opinion | Want to fix Social Security? The Well-Off Must Accept Smaller Checks.
▼ + stars: | 2024-05-13 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

That’s all that’s left until the combined Social Security accounts — the Old-Age and Survivors Insurance Trust Fund and the Disability Insurance Trust Fund — are likely to run out of money and can no longer pay full scheduled benefits, according to the latest report of the Social Security trustees. (Even with no fix at all — highly unlikely — incoming payroll taxes would cover 83 percent of scheduled benefits.) What I do worry about is what Washington’s patch for Social Security will look like. The cold math shows that fixing Social Security in a lasting way will require a combination of tax increases and benefit cuts. And both parties’ leaders — President Biden and former President Donald Trump — have ruled benefit cuts off the table.

Persons: — President Biden, Donald Trump — Organizations: Security, Insurance Trust Fund, Disability Insurance Trust Fund, Social, Social Security, —

☆ Just 4% of current retirees say they are 'living the dream,' survey finds. Here's why
▼ + stars: | 2024-05-09 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Brauns | E+ | Getty ImagesJust 4% of today's retirees said they are "living the dream," according to a new survey from asset management company Schroders. Image Source | Getty ImagesThe Schroders survey results come as more experts are pointing to a potential retirement crisis. "The retirement savings crisis in the United States is no longer looming: it is here, now," said a new report from the National Institute on Retirement Security. Not everyone agrees there is an emergencySome experts are skeptical there is a retirement savings crisis at all. Of seniors with more than $10,000 in retirement savings, 93% said they were doing okay or living comfortably.

Persons: —, Deb Boyden, That's, Warren Buffett's, Boyden, Andrew Biggs, George W, Bush, EBRI, Biggs Organizations: Getty, National Institute on Retirement Security, Finance, American Enterprise Institute, Social Security, Northwestern Mutual, Research Locations: —, United States

That's because, taken together, the two primary Social Security funds are set to only be able to pay out full benefits through 2035; the Old-Age and Survivors Insurance Trust Fund, one of the main funds comprising Social Security, will start getting depleted in 2033. AdvertisementIn other words, the moment that today's older Gen Xers are ready to retire, their Social Security benefits could start to shrink. Gen Xers — born from 1965 to 1980 — have been deemed the country's "neglected middle child" by the Pew Research Center. And among the different generations, Gen Xers were the most likely to report that they were feeling financially insecure. That could set the stage for the new crop of Gen X retirees to arrive in an already-precarious retirement economy.

Persons: —, Gen X, Xers, Gen Xers —, YouGov —, Gen Xers, X, Gen Zers, Gen, Michele Raneri, aren't, Xer Organizations: Service, Gen, Social Security, Insurance Trust Fund, Business, Security, Pew Research Center, of Congress, Millennials, TransUnion, Survey, Alliance, Lifetime, Income

☆ As Social Security's funds face insolvency, experts say these are key factors to watch
▼ + stars: | 2024-05-08 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

Phoenix Wang | Moment | Getty ImagesA new Social Security trustees report released on Monday provides a modest bright spot for the program. watch nowThe trust fund shortfall may be addressed through tax increases, benefit cuts or by taking funds from general revenues, he said. But Social Security is poised to be an issue in the upcoming House, Senate and presidential campaigns, he said. Here are some key revelations to note from this year's Social Security trustees report. If there is a major recession, many workers who are at the margin may apply for disability benefits, he said.

Persons: Wang, Jason Fichtner, Fichtner, Max Richtman, Laura Haltzel Organizations: Social Security, Center, Committee, Budget, National Committee, Preserve Social Security, Social, Congressional Research Service

☆ Social Security trust fund set to be depleted by 2035 estimates U.S. Treasury
▼ + stars: | 2024-05-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSocial Security trust fund set to be depleted by 2035 estimates U.S. TreasuryCNBC's Meghan Casella joins 'Closing Bell Overtime' with the latest on Medicare and Social Security fund estimates out of the Treasury.

Persons: Treasury CNBC's Meghan Casella Organizations: Social Security, Treasury, Medicare

☆ Social Security now expected to run short on funds in 2035, one year later than previously projected, Treasury says
▼ + stars: | 2024-05-06 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Valerie Macon | Afp | Getty ImagesThe trust funds the Social Security Administration relies on to pay benefits are now projected to run out in 2035, one year later than previously projected, according to the annual trustees' report released on Monday. The Social Security trustees credited the slightly improved outlook to more people contributing to the program amid a strong economy, low unemployment and higher job and wage growth. "This year's report is a measure of good news for the millions of Americans who depend on Social Security, including the roughly 50% of seniors for whom Social Security is the difference between poverty and living in dignity — any potential benefit reduction event has been pushed off from 2034 to 2035," Social Security Commissioner Martin O'Malley said in a statement. What reports reveal about Social Security, MedicareSocial Security's new 2035 depletion date applies to its combined trust funds. The Medicare Hospital Insurance trust fund — used to fund Part A benefits — saw the biggest improvement in this year's trustees report.

Persons: Valerie Macon, Martin O'Malley, O'Malley, — Organizations: Social Security Administration, Afp, Getty, Social Security, Social, Medicare, Insurance Trust, Disability Insurance Trust, Medicare Hospital Insurance, Insurance Trust Fund, Department Locations: Burbank , California

☆ Americans will lose full Social Security benefits in 11 years, according to the program's trustees — a year later than expected
▼ + stars: | 2024-05-06 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

Full Social Security benefits are expected to run out in 2035, per the program's trustees. AdvertisementAs more Americans fear being unprepared for retirement — and rely solely on Social Security — those full benefits might not be long-lived. Meanwhile, among the income that typical retirees do receive, just under 80% see income from Social Security. The latest estimates on Social Security also come as the US economy braces for a "peak boomer" wave of new retirees. That's the biggest group of boomers retiring yet, and, per that analysis, many will end up having to rely on Social Security benefits to stay afloat.

Persons: That's, —, William Arnone, Martin O'Malley, Kevin Hern Organizations: Security, Social Security, Service, National Academy of Social Insurance, Insurance Trust, Disability Insurance Fund, Social, Survey, Alliance, Lifetime, GOP, Republican

☆ I moved to Montana after getting priced out of California. I work in the trades — not all transplants are rich remote workers buying up property.
▼ + stars: | 2024-05-04 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +6 min

Baylon said not all Montana transplants are remote workers buying property and driving up prices. AdvertisementThis is an as-told-to essay based on a conversation with 34-year-old Ian Baylon, a tradesman who moved from California to Montana in April 2022. Here in Montana there's a huge shortage of labor too. While it was very competitive in California, there's a lot of demand for the trades up here, but nobody up here really wants to learn the trades. A lot work in tech or finance, and there's no need for them to work locally.

Persons: Ian Baylon, Baylon, —, Jacob Boomsma, they're, Boz Angeles, United States Gordon Calhoun, Montanans, I've, chokehold, It's Organizations: Service, Crockett, That's Locations: Montana, Bay, California, Bay Area, San Francisco, Crockett, Area, Vallejo, West Yellowstone, Bozeman, Downtown Bozeman , Montana, Mexican, Berkeley, Gallatin, Sky , Bozeman, United States, Washington , New York , Texas, West Coast

☆ Gangs forced out Haiti’s government. This FBI ‘Most Wanted’ gang leader claims they’re liberating the country
▼ + stars: | 2024-04-29 | by ( Caitlin Stephen Hu | David Culver | ) edition.cnn.com time to read: +22 min

Port-au-Prince, Haiti CNN —Vitel’homme Innocent’s picture on the FBI’s “Ten Most Wanted” list of fugitives suggests a crazed man – eyes wide and wild, teeth bared. But the man on the gold sofa preferred to talk about a brighter future – one that he claims Haiti’s gangs are prepared to usher in. Abandoned cars on the road between the US Embassy and the Kraze Baryé stronghold in Port-au-Prince, Haiti, on April 28, 2024. Kraze Baryé employs around 100 men and women, according to Innocent’s lieutenant and cousin, the bleach-blond Dezod Augustin, 34. But Haiti’s gangs maintain they deserve a seat at the negotiating table.

Persons: Haiti CNN —, Innocent, Evelio Contreras, “, ” Innocent, de, –, Kraze Baryé, ”, Viv Ansanm, Ariel Henry, Henry, Kraze, “ It’s, ’ Marie, Lucie Bonhomme Opont, Pierre, Louis Opont, territoire perdue, Opont, ’, Jimmy Chérizier, Robin Hood, Sanjou, Dezod Augustin, Gedeon Jean, Prince, Baryé, Delmas, Antony Blinken, Haiti Dennis Hankins, Rick Barton, Haiti’s, CNN Jean, Henry’s, Jean, CNN’s Rachel Clarke Organizations: Haiti CNN, CNN, Haiti’s, Prince, de Mars, United Nations, Haitian National Police, ”, Kenya, Haiti’s National Police, CARICOM, US Embassy, Security, “, Washington, US, UN, Fund, Federal Bureau of, State Department Locations: Prince, Haiti, Tabarre, Haiti’s, Port, balaclavas, Haitian Creole, Haitian, Nairobi, “, Canada, United States, Kraze Baryé, American, France, Kenya, Bahamas, Bangladesh, Barbados, Benin, Chad, Jamaica, it’s, Atlanta

☆ The biggest money managers are flocking to gold as inflation fears intensify
▼ + stars: | 2024-04-18 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Gold futures settled at a record high above $2,400 an ounce this week. The precious metal is coming off its third straight week of gains. Gold is often used as an inflation hedge because of its limited supply. @GC.1 YTD mountain Gold Professional speculators' net-long positions in gold futures and options hovered near the highest level since 2020 as of April 9, according to the Commodity Futures Trading Commission's latest data. The hedge fund star revealed that not only did he own the popular SPDR Gold Trust fund (GLD), but he also bought physical bars.

Persons: James Steel, David Neuhauser, Neuhauser, Greenlight Capital's David Einhorn, Einhorn Organizations: Citi, Investors, HSBC Securities, Gold, Commodity, Livermore Partners, CNBC, Trust, Deutsche Bank Locations: Northbrook , Illinois

☆ Three ways investors can minimize their tax payments
▼ + stars: | 2024-04-15 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

It’s particularly difficult for investors, he said, who have to report their earnings and losses from the market to the IRS. As an alternative, Harris, who currently heads financial services firm Evergreen Money and recently authored a book about reducing tax burdens, shared his three biggest tax tips for investors with Before the Bell. So for tax purposes, selling securities that have lost value can offset the taxes due on gains from successful investments. If your losses exceed your gains, you can carry the net loss (total losses minus total gains) into the next tax year, potentially reducing future tax burdens. If you have three children and two parents, that’s $108,000 in tax free money a year, Harris said.

Persons: They’ll, ”, Bill Harris, It’s, Harris, “, Roth, hasn’t, “ you’re, Laura, Anna Cooban, Brent, Germany’s DAX, Read, Tempore Mike McGuire Organizations: New, New York CNN, National Taxpayers Union Foundation, Paypal, CNN, Evergreen Money, Bell, Investments, Brent, Traders, CAC, FTSE, Nikkei, International Energy Agency, ANZ, Google, California Journalism, Meta, California, Pro, Tempore, ” Locations: New York, United States, Israel, Iran, Tehran, Syria, Shanghai, Paris, California, America

☆ More people are working well past retirement age. It’s not easy
▼ + stars: | 2024-04-14 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +11 min

So last October, at the age of 80, Murray ended her retirement and got a job giving out samples at Costco. Forecasters expect that cohort of older , working Americans to double over the next decade. “More people are working at desk jobs that don’t require much physical labor,” said Gal Wettstein, a senior research economist at the Center for Retirement Research at Boston College. “That’s people who are changing jobs, younger workers and non-college educated workers.” Older workers tend not to change jobs, and they’re more likely to have a college degree. The Age Discrimination in Employment Act (ADEA) forbids age discrimination against people who are age 40 or older in the workplace.

Persons: Hope Murray, ”, Murray, she’ll, “, Murray isn’t, Gal Wettstein, Monique Morrissey, ” Morrissey, What’s, Heidi Brockway, Brockway, Morrissey, ageism, Bob Vaughn, Wettstein, Vaughn, Mary Susan, they’ve, Mary Susan’s, they’d, They’re, Diane Reiter, ” Reiter, she’s, I’d, She’s Organizations: New, New York CNN, Gas, Costco, ”, Pew Research Center, Center for Retirement Research, Boston College, Economic Policy Institute, Social, Social Security Agency, Social Security, Lawmakers, AARP, Retirement Research, Amazon, Economic, Worker, Brookings Locations: New York, Hollywood, San Diego, Los Angeles, Southeast Florida, Florida, United States, Charlotte , North Carolina, Asheville, Chicago

☆ How America's Retirement System Turned Into a Stressful Nightmare
▼ + stars: | 2024-04-09 | by ( Emily Stewart | ) www.businessinsider.com time to read: +9 min

Then you get to collect Social Security, on top of drawing from the nest egg you've built up over your career. The burden of saving for retirement — and the anxiety that comes with it — is a fairly new phenomenon. There's nothing irrational about being nervous that you won't have enough money to live on to last your whole life. The new system also allows people to dip into their retirement piles if need be — which can be both a blessing and a curse. AdvertisementIt's not likely that Social Security will just dry up — Congress could increase the retirement age or up the funding for the program.

Persons: they'll, Teresa Ghilarducci, —, they'd, Larry Fink, there's, Fink, It's, they're, Norman Stein, Drexel University's Thomas R, Chris Woods, They're, Stein, Riley Moynes, it's, Woods, Emily Stewart Organizations: Social, CNBC, The New School, Workers, BlackRock, Drexel, Kline School of Law, Silvis, Social Security, GOP, Security, Business Locations: America, New, Charlotte , North Carolina

☆ Why Retirement Feels so Scary for Millennials and Gen Z
▼ + stars: | 2024-04-09 | by ( Emily Stewart | ) www.businessinsider.com time to read: +9 min

Then you get to collect Social Security, on top of drawing from the nest egg you've built up over your career. In a recent CNBC survey, over half of respondents in the US said they thought they were behind on saving and planning for retirement. The burden of saving for retirement — and the anxiety that comes with it — is a fairly new phenomenon. There's nothing irrational about being nervous that you won't have enough money to live on to last your whole life. AdvertisementIt's not likely that Social Security will just dry up — Congress could increase the retirement age or up the funding for the program.

☆ David Einhorn thinks inflation is reaccelerating and has made gold a very large position
▼ + stars: | 2024-04-03 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

"I think inflation is reaccelerating. I think there's a lot of indication of that," the famed investor said during the Sohn Investment Conference in New York. As a defense play against a potential market downturn, Einhorn also said he is loading up on his gold position . We own physical bars as well, so gold is a very large position for us," Einhorn said. Value investing opportunities Despite his concerns, Einhorn said opportunities are emerging in value stocks, which he thinks are misunderstood nowadays.

Persons: David Einhorn, Einhorn, CNBC's Scott Wapner, there's Organizations: Greenlight, Federal Reserve, Sohn Investment, Greenlight Capital, Trust, Solvay Locations: New York, Belgium

Hogan's political ascendency resulted in large part from his criticism of tax increases that resonated with a tax-weary electorate in his upset victory in 2014. And Hogan, who was originally elected governor by railing against tax increases endorsed by the Maryland General Assembly, has already made the Maryland race unusually competitive in the heavily Democratic state. The Maryland Senate this month largely kept his budget plan intact, despite a drop in revenue estimates announced after the governor submitted his plan. The Senate has been mostly unreceptive to the House plan, with Ferguson ruling out the corporate tax component. He's also ruled out legalizing internet gambling this year, another part of the House plan.

Persons: Larry Hogan’s, Baltimore's, Francis Scott Key, Republican hasn’t, Hogan, Bill Ferguson, ” Hogan, Del, Ben Barnes, “ I’m, Larry Hogan, ” Barnes, “, ” Ferguson, David Trone, Angela Alsobrooks, Wes Moore, Ferguson, He's, Moore, haven't Organizations: Republican, Gov, U.S . Senate, Baltimore Democrat, Associated Press, Governor, Maryland General Assembly, Democratic, Washington Post, University of Maryland, Republicans, Maryland, Democratic U.S . Senate, U.S, Senate, Transportation Trust Fund, state's, ”, Maryland Democrats, GOP, Maryland Republican, U.S . Rep, Maryland Senate Locations: ANNAPOLIS, Md, Maryland, Baltimore, U.S, Senate, Prince George's

☆ Retirement crisis looms as Americans struggle to save
▼ + stars: | 2024-04-02 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

“However, I am fully aware that I’m creating another problem for myself down the road.”For now, his retirement plans sit on the back burner. Retirement savings in the United States were long thought of as a three-legged stool. Americans had pension plans, Social Security benefits, and defined contribution plans like the 401(k). Social Security payments still provide about 90% of income for more than a quarter of older adults, according to Social Security Agency surveys. She’s had to rely on her 401(k) retirement savings to support her and her son more than once.

Persons: Eric Payne, there’s, ”, Payne, I’ve, he’ll, What’s, Larry Fink, “, –, ” Fink, Fink, Jamie, She’s, – Jamie, wasn’t, Donald Trump, ” Trump, Joe Biden, Karoline Leavitt, Trump, Biden, Bernie Sanders, Sanders, BlackRock’s Fink, Beth, ” Beth Organizations: New, New York CNN, CNN, Social Security, Social, Social Security Agency, Security, Lawmakers, BlackRock, CNBC, Vermont Independent, Medicare Locations: New York, Portland , Maine, United States, Central Texas, Pittsburgh

☆ 3 things America can do to solve its retirement crisis, according to BlackRock chief Larry Fink
▼ + stars: | 2024-03-26 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

Read previewAmerica has a real retirement crisis on its hands — and there are three things it can do to help solve it, according to BlackRock chief Larry Fink. In his annual letter to investors, the CEO of the world's biggest asset manager pointed to an unfolding crisis for current and future retirees. 46% of Americans aged 55-65 don't have any cash invested in a personal retirement account, according to 2022 Census data. Help retirees spend their savingsMost retirees are uncomfortable dipping into their pile of savings. Give young people a reason to want to investFear is one of the main obstacles preventing young people from investing in their retirement, Fink said.

Persons: —, Larry Fink, Fink, " Fink, AARP —, BlackRock, I've, Gen Zers Organizations: Service, BlackRock, Center for Retirement Research, Business, Security, Congressional, Office, Insurance Trust Fund, Social Security, AARP, University of Michigan, America, McKinsey & Company Locations: America, Australia, BlackRock

☆ Rose Dugdale, Heiress Turned Irish Independence Fighter, Dies at 82
▼ + stars: | 2024-03-22 | by ( Clay Risen | ) www.nytimes.com time to read: +1 min

Rose Dugdale, an Oxford-educated Englishwoman who left a life of wealth to become a partisan activist fighting for Irish independence, in a career that included bomb making, hijacking and art theft, died on March 18 in Dublin. Her death, in a nursing home, was confirmed by Aengus O Snodaigh, a friend and a member of the Irish Parliament. Throughout the 1970s, Ms. Dugdale, whose family owned a large share of the insurance company Lloyd’s of London, captivated the British and Irish news media with her exploits. She and an accomplice were arrested in 1973 for stealing thousands of dollars in art and silverware from her parents’ home, with plans to sell it and give the proceeds to the Irish Republican Army. Her father, Eric, appeared as a witness at her trial, and under British law she was allowed to cross-examine him herself — an opportunity she used to make political statements.

Persons: Rose Dugdale, Aengus O, Dugdale, Patricia Hearst, ’, Eric, — Organizations: Irish, Irish Republican Army Locations: Oxford, Dublin, London, United States

☆ Nick Saban: Former football coach laments the current landscape of college sports
▼ + stars: | 2024-03-13 | by ( Kevin Dotson | Ben Morse | ) edition.cnn.com time to read: +4 min

CNN —Invited to speak at a roundtable discussion with a handful of US Senators on Capitol Hill Tuesday, former football coach Nick Saban spoke about how the current landscape of college athletics contributed to his decision to retire from the University of Alabama after the 2023 season. “All the things that I believed in for all these years, 50 years of coaching, no longer exist in college athletics,” Saban said at the roundtable, a video of which was posted online by Sen. Ted Cruz (TX). “I’m for student athletes being able to share in some of this revenue. Second, committ to work with their peer institutions in this subdivision to create rules that may differ from the rules in place for the rest of Division I. At the conclusion of the roundtable, Saban again expressed his worry for the future of college sports.

Persons: CNN —, Nick Saban, ” Saban, Sen, Ted Cruz, ” “, “, I’m, Saban, ”, “ I’m, couldn’t, Charlie Baker, Baker, IX, committ, it’s Organizations: CNN, Senators, Capitol, University of Alabama, Alabama, LSU, NCAA Division, NCAA Locations: Ted Cruz (, Division

☆ Many workers believe pensions are key to achieving the American Dream. But getting those plans back isn't easy
▼ + stars: | 2024-03-01 | by ( Lorie Konish | ) www.cnbc.com time to read: +5 min

watch nowMore than three-quarters of Americans, 77%, say the unavailability of pensions is making it harder to achieve the American Dream, according to a new report from the National Institute on Retirement Security. With the shift from pensions to 401(k)s, the responsibility for saving for retirement has transferred from employers to workers. "When not managed properly, defined benefit plans can end up like Ponzi schemes," Greszler said at Wednesday's Senate hearing. Neither Social Security nor multiemployer pensions can pay benefits as promised, she noted. To shore up Social Security, the average American household would have to pay at least $3,000 per year more in taxes, money that would better be invested in personal accounts, Greszler argued.

Persons: Rebecca Cook, Sara Schambers, Schambers, Teresa Ghilarducci, Ghilarducci, Rachel Greszler, Greszler, Sen, Bill Cassidy Organizations: United Auto Workers, Sterling Heights Assembly, Reuters, Ford, Washington , D.C, UAW, National Institute on Retirement Security, Pensions, Finance, Security, Workers, The New School for Social Research, The Heritage Foundation, Senate, Social Security Locations: Sterling Heights, Sterling Heights , Michigan, Washington ,, New

☆ A global tax on billionaires is on the G20 agenda. Will it ever happen?
▼ + stars: | 2024-03-01 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

London CNN —Finance officials from the world’s biggest economies began talks this week on introducing a global minimum tax on billionaires. According to the EU Tax Observatory, the super-rich in big countries pay a far smaller share of their income in taxes than ordinary people. The world’s current patchwork of tax regimes fails “to properly tax the individuals with the highest ability to pay taxes,” he added. The negotiations on a minimum tax on corporations took years,” Quentin Parrinello, senior policy advisor at the EU Tax Observatory, told CNN. Practical headachesA global minimum tax on billionaires would be more complicated to implement than the one introduced for corporations, says Arun Advani, an economics professor at the University of Warwick.

Persons: ” Gabriel Zucman, ” Quentin Parrinello, ” Parrinello, Arun Advani, “ It’s, ” Advani, “, ’, Advani, ” Organizations: London CNN — Finance, EU, Observatory, Oxfam, EU Tax Observatory, Independent, Climate Finance, European Union, CNN, University of Warwick Locations: São Paulo, Brazil, France, Italy, United States, China, India, Saudi Arabia, Argentina, London, New York

☆ A lottery player in Florida misses out on $36 million after failing to validate a Mega Millions ticket
▼ + stars: | 2024-02-18 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +1 min

A winning $36 million lottery ticket went unclaimed in Florida. The would-be winner missed the deadline to claim their winnings after a 180-day window. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . A lottery participant lost out on $36 million when they failed to announce their winning ticket before the deadline, said the Florida Lottery. The 180-day claim period for the Mega Millions August drawing ended with the 11th of February deadline.

Persons: — Organizations: Service, Florida Lottery, Business Locations: Florida

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