DIRS.INFO The most relevant business & tech news

☆ Trump-supporting hedge fund billionaire says he'll pull his money out of the market if Harris wins the election
▼ + stars: | 2024-09-18 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The Trump-supporting hedge fund billionaire criticized Harris' tax plans on a Fox Business segment. Paulson said a proposed tax on unrealized gains would "could mass selling of almost everything." AdvertisementBillionaire hedge fund manager and Trump donor John Paulson told Fox Business that he will sell his stocks if Kamala Harris wins the presidency in November. Paulson was particularly focused on Harris' proposal to levy a 25% tax on unrealized gains for individuals worth more than $100 million. AdvertisementBillionaire Mark Cuban took to X, formerly Twitter, to compare how businesses would do between Harris' tax policy and Trump's plans for broad-sweeping tariffs, concluding that Harris would offer more in after-tax profit.

Persons: John Paulson, Kamala Harris, Harris, Paulson, —, I'd, Kent Smetters, Donald Trump, Mark Cuban Organizations: Trump, Fox, Service, Billionaire, Fox Business, Penn Wharton Budget, Business, Biden, Jobs, Republican

☆ Trump likely wouldn’t need Congress to approve his most controversial trade policy
▼ + stars: | 2024-09-12 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

New York CNN —It’s easy to dismiss many presidential candidates’ campaign promises as empty, because Congress would need to approve them. Alex Durante, an economist at the Tax Foundation, a right-leaning think tank, told CNN that 100% tariffs would threaten the economy. It’s possible he is floating 100% tariffs as just a threat designed to change the behavior of other countries. ‘No question it’s inflationary’The Trump campaign did not provide an explanation to CNN about how Trump would implement 100% tariffs nor what the trigger would be. He said Trump’s tariff plan, if enacted, would risk setting off a market panic like former UK Prime Minister Liz Truss did in 2022.

Persons: New York CNN —, Donald Trump, Trump, ” Trump, “, you’re, ” Maury Obstfeld, Obstfeld, ” Obstfeld, Christine McDaniel, George W, Bush, ”, McDaniel, George Mason University’s, Alex Durante, ” Durante, Brian Hughes, ” Hughes, ‘, Harris, Kamala Harris, ” Kent Smetters, Smetters, Wharton “, it’s, ” Wharton, Liz, Joe Brusuelas, ” “ I’m, Joe Biden, Biden, Brusuelas, Liz Truss, Matt Priest, Trump’s Organizations: New, New York CNN, Peterson Institute for International Economics, CNN, International Monetary Fund, Trump, United States Trade Representative, Commerce Department, Tax Foundation, University of Pennsylvania’s Wharton School, Penn Wharton Budget, Wharton, ABC, RSM, Democratic, Footwear Distributors, Retailers of America Locations: New York, Wisconsin, United States, China, Russia, “, American

☆ Inside the guidance high-net-worth individuals are getting from money managers ahead of elections
▼ + stars: | 2024-09-11 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

The top 1% aren't the only ones with a target on their backs: Those in the $400,000 to $1 million income bracket could see their capital gains tax rise under her. There has also been concern about whether the step-up in basis, a provision that adjusts capital gains taxes for inherited assets, could be repealed. A 1031 Exchange is popularly used to sell and buy investment property while deferring capital gains tax until future generations inherit it. Once they do, a step-up basis can be used to dismiss those previous capital gains taxes. AdvertisementAs for any impacts from the Trump administration, unilateral trade sanctions and tariffs would hurt the economy and be depressive to the market, Malek said.

Persons: Donald Trump's, Kamala Harris, Kent Smetters, it's Harris, Smetters, Harris, Mark Malek, Siebert, Malek, Mike Reynolds, Reynolds, Harris hasn't, Trump, Sandi Bragar Organizations: Service, Democratic, Penn Wharton Budget, Business, Biden, Nvidia, Fund Locations: Wall, Washington, Rhode Island , New York , California, Nebraska , Indiana , Wyoming, China

☆ America’s Debt Crisis Burns While Congress Fiddles
▼ + stars: | 2023-10-20 | by ( Tim Smart | ) www.usnews.com time to read: +9 min

Last month, the Penn Wharton Budget Model from the University of Pennsylvania came out with an analysis of the debt crisis entitled “When Does Federal Debt Reach Unsustainable Levels?”Their answer? The concern is that punting the problem into the future, continuing to raise debt even as interest rates rise further or hold at higher levels for longer, the debt will grow even faster in a “snowball” scenario. Similar proposals have been offered over the years but at the same time they seem to lack political support – indeed, Republicans have recently voiced the idea of cutting Social Security. The debt crisis is rapidly worsening at a time when the bond market is having its own set of problems. A recent government auction of debt, an occurrence that is becoming more common as the U.S. borrows more, saw weak demand.

Persons: Dick Cheney, Richard Neal, Democrats –, Blu Putnam, Alan Greenspan, Ben Bernanke, Jerome Powell, ”, Gene Steuerle, Richard B, Fisher, probity, Kevin McCarthy, Kent Smetters, Boettner, Smetters, Richard Robis, Donald Trump Organizations: Capitol, Democratic, Massachusetts, The New York Times, Federal Reserve, Partisans, Democrats, Fed, CME Group, Social Security, Medicare, Urban Institute, California Rep, Penn Wharton Budget, University of Pennsylvania, University of Pennsylvania's Wharton School, Wharton, Social, Republicans, Treasury, Hamas, BCA Research, White House Locations: U.S, United States, Washington, China, Japan, Israel

☆ Analysis: Biden's IRA climate bill won't cut deficit as expected
▼ + stars: | 2023-06-16 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +8 min

The White House estimated, and independent budget analysts agreed, it could cut the deficit by $300 billion over the next decade. The tax credits have been massively popular with companies, spurring new investments and boosting job growth, environmental benefits -- and the price tag. The bill will add $750 billion to the nation’s deficit over ten years, according to Smetters. White House officials say revenue will outpace original congressional estimates, and they point to the millions of jobs the IRA is expected to create. “We’re going to have more deployment and achieve more emissions reductions than we initially thought,” the White House official said.

Persons: Joe Biden, Biden, ”, Kent Smetters, Goldman Sachs, Joe Manchin, Manchin, we've, Joe Biden’s, Tesla, Smetters, ” Smetters, “ We’re, Merck, Jarrett Renshaw, Heather Timmons, Alistair Bell Organizations: White House, Penn Wharton Budget Model, White, Congressional, Credit Suisse, University of Pennsylvania’s Wharton Business School, U.S, Democrat, Credit, Office, University of Pennsylvania, European Union, EV, Biden, Republicans, CBO, Amazon, Pepsi, Home, Thomson Locations: U.S, Japan

☆ How companies should prepare for a possible US default
▼ + stars: | 2023-05-22 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +6 min

“Companies need to have a plan.”Figure out exposure to government fundsSome companies may not be immediately impacted by a default. White recommends companies in those industries, especially, hold regular meetings to figure out a plan in case payments are delayed. JPMorgan Chase CEO Jamie Dimon told Bloomberg earlier this month that the bank was holding weekly meetings to prepare for a possible default. But until then, companies “need to know, can we last until that point? Companies should also be as efficient as possible so they’re not spending more than they need to, she said.

Search resuls for: "Kent Smetters"

6 mentions found