Organizers claimed that nearly 2 million Hong Kong protesters took to the streets Sunday in a rally to demand the city's top official resign a day after she suspended — but...China Politicsread more
Heavy rains caused unprecedented delays in planting this year and contributed to record floods across the central United States.Agricultureread more
Although Cook did not mention companies by name, his commencement speech in Silicon Valley's backyard mentioned data breaches, privacy violations, and even made reference to...Technologyread more
U.S. ambassador to Israel David Friedman called the gesture a "birthday present" to Trump, who turned 73 on Friday.Politicsread more
The agreement, which is on the framework for the plan of adjustment, provide for more than a 60% average haircut for all $35 billion, a 36% haircut on pre-2012 general...Bondsread more
In the survey, 66% of Democratic primary voters say they'd be enthusiastic or comfortable about Biden as their nominee to take on President Trump in the 2020 election. Just...Politicsread more
Target's registers were down on Saturday for several hours preventing customers from checking out.Retailread more
The newspaper wrote that Goldman's executive are hoping CEO David Solomon's changes to a firm that historically thrived in investment banking and trading will boost its...US Marketsread more
The Fed is not likely to make a move on interest rates when it meets next week, but it should clear the way for a rate cut later in the summer.Market Insiderread more
Representatives from the Chinese side say they think it likely that Chinese President Xi Jinping will attend the G-20 meeting later this month. But in order to reach a trade...China Economyread more
With uncertainty keeping a lid on U.S. stocks, Ed Clissold of Ned Davis Research says the rest of 2019 is likely to be a "choppy," but somewhat opportunistic, ride for...Futures Nowread more
Americans are "scared to death of the IRS," and the agency should be severely downsized to keep tax authorities in check, Rep. Roger Williams told CNBC on Wednesday.
"I'm one of those that would love to do away with the IRS. It's a rogue agency. It scares the heck out of people," the Texas Republican said on "Squawk Box."
"The IRS does a pretty good job of going after people that really have done nothing wrong," Williams asserted. He said he personally had a tough time with the agency over inheritance taxes, often referred to as the death tax.
Williams said the IRS came knocking "three days" after the 1990 death of his father who ran a car dealership. He said he worked out a plan to save the business but spent 20 years paying off the government.
The inheritance tax is double taxation, and "it's not fair," said Williams, a member of the House Financial Services Committee.
The House Republican blueprint for tax reform proposes to eliminate the inheritance tax and aims to transform the IRS into what it calls an "agency focused on customer service."
"The IRS, along with some other agencies, should be downsized and basically made a collection agency," Williams argued. "Collect what we're due. Not what we're not due."