Stung by revelations about his ex-budget minister's Swiss bank account, French President Francois Hollande pushed legislation aimed at making elected officials disclose their wealth. » Read More
Warren Buffett's proposal for a "minimum tax on the wealthy" presumes that the rich pay a lower rate than the rest of America. But data shows that they don't.
If the charitable deduction is capped or cut, some say, the United States will lose billions of dollars in charitable donations. But there is little hard data to support the claim.
Limiting tax deductions as part of a "Fiscal Cliff" deal would force the wealthy to bear the brunt of the cost, with million-dollar earners getting hit the hardest.
Millionaires candidates who used their own money to run were roundly rejected by voters last night, and the majority were targeted during the campaign for their wealth.
While not a record for self-financed campaigns, the $90 million former pro wrestling executive Linda McMahon spent on her two failed Senate bids could have bought her plenty of luxury.
The owner of a private bridge in Michigan is spending millions to block a new government-funded bridge nearby. When do the wealthy have too much political influence?
One57, a luxury apartment building in Manhattan that has grabbed headlines for its use of controversial tax breaks, is now being closely watched by emergency teams, as a crane, apparently knocked loose by Hurricane Sandy, dangled from its topmost floor.
Rumors were that plans for the former Apple CEO's boat had been shelved during Jobs's illness. But the yacht has just had its posthumous launch in the Netherlands.
A study from American Express Publishing and Harrison Group shows that holiday spending will grow 33.5 percent among the top one percent of earners this Christmas, to $3.4 billion.