Republicans no longer want to repeal estate taxes. That's weird.
The Trump administration's 'big' tax bill has one curious omission: estate tax repeal. Ending the estate tax has been a signature issue for Republicans since the 1990s. And yet today, with Republicans controlling both Congress and the presidency, there has been hardly a whisper in support of repeal. Instead, the bill has proposed a permanent exemption amount of $15 million per person: a large number, to be sure, but one that does little for the centimillionaires, billionaires and centibillionaires who dominate our world today.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
10 minutes ago
- Yahoo
Gold succumbs to profit-taking after US jobs data-fuelled rally
By Anushree Mukherjee and Brijesh Patel (Reuters) -Gold prices slipped on Monday as investors booked profits after a sharp rise in the previous session following weaker-than-expected U.S. jobs data that boosted expectations for a Federal Reserve interest rate cut in September. Spot gold lost 0.3% to $3,354.17 per ounce as of 0229 GMT. Bullion had risen more than 2% on Friday. However, U.S. gold futures gained 0.2% to $3,407.10. "Gold has made a conservative start to the week following Friday's price jump. A combination of profit taking and dollar stabilisation has caused gold to ease marginally to kick-off the week," KCM Trade Chief Market Analyst Tim Waterer said. Asian markets tracked Wall Street lower as fears for the U.S. economy returned with a vengeance, prompting investors to price in an almost certain rate cut in September and undermining the dollar. [MKTS/GLOB] Last week, U.S. job growth slowed more than expected in July, with nonfarm payrolls increasing by 73,000 jobs last month, after rising by a downwardly revised 14,000 in June, the Labor Department's Bureau of Labor Statistics said. This revived hopes of a Fed rate cut in September, with markets now pricing in an 81% chance, per CME FedWatch tool. The tariffs U.S. President Donald Trump imposed last week on scores of countries are likely to stay in place rather than be cut as part of continuing negotiations, Trade Representative Jamieson Greer said in comments aired on Sunday. "But with Trump on the tariff warpath once again, and the soft U.S. jobs report increasing the odds that we could see a September FOMC rate cut, any pullbacks in the precious metal could be of a shallow nature," Waterer added. Gold, traditionally considered a safe-haven asset during political and economic uncertainties, tends to thrive in a low-interest-rate environment. Spot silver fell 0.6% to $36.80 per ounce, platinum slipped 0.6% to $1,307.02 and palladium eased 0.9% to $1,197.76.
Fox News
12 minutes ago
- Fox News
Trump praises Sydney Sweeney's ad campaign after learning she's a registered Republican
President Trump on Sunday reacted positively upon learning actress Sydney Sweeney is a registered Republican, adding that he now finds her controversial American Eagle ad campaign to be "fantastic."
CNN
12 minutes ago
- CNN
EPA Administrator Lee Zeldin; Colorado Gov. Jared Polis and Former BLS Commissioner William Beach - State of the Union with Jake Tapper and Dana Bash - Podcast on CNN Podcasts
EPA Administrator Lee Zeldin; Colorado Gov. Jared Polis and Former BLS Commissioner William Beach State of the Union 41 mins On CNN's State of the Union, after President Trump abruptly fired the head of the Bureau of Labor Statistics over a weak jobs report, her predecessor William Beach – also appointed by Trump – tells Kasie Hunt Trump's actions are 'groundless' and 'damaging.' Then, Kasie presses EPA Administrator Lee Zeldin over his push to gut the government's ability to fight climate change by rolling back regulations on greenhouse gases. Next, Democratic Gov. Jared Polis joins Kasie to discuss tariffs and his party's struggle to counter Trump across the board. Finally, Bernie Sanders adviser Faiz Shakir and CNN Political Commentators Kate Bedingfield, Brad Todd, and Jonah Goldberg join Kasie to break down Kamala Harris' return to the spotlight as Democrats weigh who can win in 2028.
