A Washington-based married couple’s challenge to an obscure provision of the 2017 Republican tax law has the potential to become “the most important tax case in a century,” with far-reaching implications for federal revenues, key social programs, and Congress’ constitutional authority to impose levies on income.
That’s according to a new report released Wednesday by the Roosevelt Institute and the Institute on Taxation and Economic Policy (ITEP).
While conservative Justice Samuel Alito’s new Wall Street Journalinterview covered various topics, one that provoked intense ire on Friday was his suggestion that federal lawmakers don’t have the power to regulate the U.S. Supreme Court.
For a series of Journal opinion pieces—the first was published in April—Alito spent four hours speaking on the record with David B. Rivkin Jr., an attorney who currently has a case before the high court, and James Taranto, the newspaper’s editorial features editor.
The 500 richest people on the planet collectively added $852 billion to their fortunes in the first half of 2023 due in large part to a record-breaking rally in the U.S. stock market.
According to a Bloomberganalysis of its Billionaires Index, the world’s richest people added an average of $14 million per day to their wealth over the past six months, “the best half-year for billionaires since the back half of 2020, when the economy rebounded from a Covid-induced slump.”