Taxing Net Worth Is a Terrible Idea
The Supreme Court neither opened the door for taxing unrealized gains nor slammed it shut. But the concept should be rejected on the merits.
The Supreme Court neither opened the door for taxing unrealized gains nor slammed it shut. But the concept should be rejected on the merits.
Missouri Attorney General Andrew Bailey announced he is filing a lawsuit against the state of New York for what he called “their direct attack on our democratic process through unconstitutional lawfare against President Trump.”On Thursday, Bailey said on his podcast, “The Bailey Wire,” that his office would be taking steps to combat illicit prosecutions against the former president. Bailey said it’s time to restore the rule of law.
President Biden’s 2024 re-election campaign and the Democratic National Committee raised a combined $85 million in May, which is their second-best month of fundraising this election cycle.But the money raised by Biden and the DNC is far short of the staggering haul raised by former President Trump’s campaign and the Republican National Committee last month.
A government watchdog group filed suit in Delaware federal court this week, seeking to compel the Justice Department to produce records that may determine whether Hunter Biden should be further investigated under a 1910 law relating to “prostitution or debauchery.
North Dakota Gov. Doug Burgum, who is rumored to be one of former President Trump’s top considerations for vice president, touted his and his wife’s relationship with Trump while stumping for him in Michigan on Thursday.
Sen. Mitt Romney, R-Utah, continued the course of not supporting former President Trump during the 2024 election.Last week, Trump had a closed-door meeting with Republican senators where he pitched a new policy position that could win over workers in key swing states ahead of the November election.Romney attended the meeting, though he told CNN reporter Manu Raju on Tuesday that he did not go to support Trump.”I didn’t go there to support former President Trump.
President Biden’s campaign manager on Wednesday appeared to dodge questions about whether the president’s new executive order giving illegal immigrants a pathway to citizenship was a political move aimed at shoring up more votes before Election Day on Nov. 5. Julie Chavez Rodriguez appeared on CBS News’ “America Decides” for an interview with Fin Gomez that aired Wednesday evening.
Reel back to June 2021. House Homeland Security Committee Chairman Mark Green, R-Tenn., did not yet wield the committee gavel. But he had questions about COVID-19, which gripped the planet.”For most of the pandemic, anyone who raised questions about the origin of the virus was dismissed as a crazy conspiracy theorist,” opined Green on the House floor.Many were even reluctant to dip into the idea that COVID-19 could have come from a lab in China in 2021.
A bipartisan United States congressional delegation met with the Dalai Lama Wednesday at his residence in India’s Dharamshala, sparking anger from China which views the exiled spiritual leader of Tibetan Buddhism as a dangerous separatist.This comes as Washington and Beijing have recently restarted talks after several years of turmoil that began after the imposition of tariffs on Chinese goods under the Trump administration.
Wisconsin Democratic Sen. Tammy Baldwin has a long history of criticizing tax loopholes for the rich, despite her partner’s career reportedly helping ultra-high-net-worth clients pay less in taxes.Labeled by Morgan Stanley as one of its “private wealth advisors,” Maria Brisbane, Baldwin’s partner since 2018, works to deliver “tax minimization strategies” for her clients at the firm.
Louisiana is the first state to require the display of the Ten Commandments in every public school classroom after Republican Gov. Jeff Landry signed a bill into law Wednesday. Under the legislation, H.B. 71, a poster-sized display of the Ten Commandments in “large, easily readable font” is required in all public classrooms, from kindergartens to state-funded universities. Over the weekend, Landry touted the bill at a fundraiser in Tennessee.
California Gov. Gavin Newsom, a Democrat, announced Tuesday his pledge to restrict students’ smartphone use during the school day, pointing to statements from the Biden administration that social media harms the mental health of children.The decision comes after U.S.
The Republican primary race in Virginia’s 5th Congressional District between House Freedom Caucus Chairman Bob Good and state Sen. John McGuire was too close to call on Tuesday night.As of 11 p.m., 92% of the vote was called – with McGuire being up by just 300 votes.The race will now move to a recount for the GOP primary in the state’s reliably red 5th Congressional District, in the southern part of the commonwealth.
Wayne Johnson has won the Republican primary runoff over Chuck Hand in the race to represent Georgia’s 2nd Congressional District and will now look to unseat an incumbent Democrat in the November general election.The Associated Press called the race.Johnson and Hand were the top two vote-getters in Georgia’s May 21 primary election, but advanced to the runoff when neither reached the 50% threshold required by state election law.
Hung Cao won the Virginia Republican Senate primary on Tuesday, getting the party’s nod to take on incumbent Sen. Tim Kaine, D-Va., in November. The most prominent contenders in the Senate GOP primary besides Cao were former DeSantis-staffer and Club for Growth employee Scott Parkinson and constitutional attorney Jonathan Emord.
Eugene Vindman won the Democratic Party’s nomination for Virginia’s 7th Congressional District on Tuesday. The race among Democrats comes after the incumbent Democratic Rep. Abigail Spanberger announced she would not seek re-election in favor of running for governor of the Old Dominion next year.
A Secret Service agent was robbed at gunpoint in California over the weekend, according to local law enforcement. It happened at the same time President Biden was in California for a star-studded Los Angeles fundraiser.On Saturday, June 15, just after 9:30 p.m., the Tustin Police Department said officers responded to a call about a possible robbery that happened at the Tustin Fields 1 residential community.
Chicago Mayor Brandon Johnson announced the creation of a reparations task force and agenda aimed at addressing historical injustices against Black people in the United States while citing systemic racism and other polices he said have harmed people of color. The task force will develop a definition and framework for reparations, which would be delivered in the form of improvements in housing, education, jobs, and criminal justice.
Senate Majority Leader Chuck Schumer, D-N.Y., said he will bring a law to ban bump stocks to the Senate floor this week after the Supreme Court ruled to reverse a ban on the item by the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) under former President Donald Trump. At a press conference on Sunday, Schumer said, “The Senate can help restore this public safety rule, and next week, it will try.
EXCLUSIVE: Former Secretary of State John Kerry used a pseudonymous government email address while serving as the nation’s top diplomat during the Obama administration, whistleblowers told Sens. Chuck Grassley and Ron Johnson. Fox News Digital obtained a letter Grassley, R-Iowa, and Johnson, R-Wis., sent to Secretary of State Antony Blinken, demanding answers on whether Kerry properly complied with federal records law as secretary of state.
Former CIA Deputy Director Mike Morrell warned in a recent op-ed of the terror threat posed by vulnerabilities at the U.S.-Mexico border.
A majority of Americans believe the U.S. should focus more on issues at home and withdraw from foreign affairs, despite an increasing number of Americans believing the U.S. should be more engaged and take the lead when it comes to international events.Just under two-thirds of Americans, 62%, believe the U.S.
Former President Trump courted Black voters in Detroit Saturday, when he raised President Biden’s authorship of the 1994 crime bill, which remains a sore point after three decades.Headlining a roundtable discussion at the predominantly Black 180 Church as his campaign was announcing the launch of a Black voter coalition, Trump noted that rising crime rates hurt his audience’s community the most.
The Department of Defense is rejecting recent concerns that a project to install solar panels on the roof of the Pentagon and other installations would use Chinese materials.The Pentagon pushback came after Virginia Gov.
Republican Texas Sen. Ted Cruz remains unbowed in his support for Israel despite nearly two dozen anti-Israel protests staged outside the Houston-area home he shares with his wife and their two children, Fox News Digital has learned.Protesters have gathered to shout slogans outside Cruz’s home since February as outcry surrounding Hamas’ Oct. 7 attack on Israel mounted.
A Texas political candidate has been arrested on charges of sending fake hate messages to himself on social media.Taral Patel, the Democratic candidate for Fort Bend Precinct 3 Commissioner, was arrested by Texas Rangers and is being charged with Online Impersonation and Misrepresentation of Identity.Authorities allege that Patel spent months sending a stream of racist and derogatory comments to himself, impersonating a supporter of incumbent Republican Commissioner Andy Meyers.
Former President Trump attended a roundtable discussion at a church in Detroit on Saturday afternoon in an effort to reach out to Black voters.During the discussion, 180 Church Pastor Lorenzo Sewell told Trump that he was “humbled” by the former president’s visit. “President Obama never came to the ’hood, so-to-speak, right? President Joe Biden, he went to the big NAACP dinner, but he never came to the ’hood.
After former President Trump’s lucrative, three-day swing through California, President Biden has returned to the West Coast to tap into the Democrat-dominated state’s political ATM.
George Clooney will be rubbing elbows with President Biden at a star-studded fundraiser in Los Angeles on Saturday evening, after reportedly calling the White House earlier this month to complain about the president’s criticism of the International Criminal Court (ICC). Saturday night’s gala at the Peacock Theater, which will feature other Hollywood heavyweights like Julia Roberts, is expected to haul in millions.
Former President Obama on Saturday marked 12 years since his executive action on the Deferred Action for Childhood Arrivals program, or “DACA,” and called on Congress to codify the program into law before it expires. The Obama administration implemented DACA in 2012, so that those who entered the U.S. illegally as children were protected from deportation and had a pathway to citizenship.