Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
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Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
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"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
"I would love this to be clarified. We come to a deal on trade, boy, this market is up 10 to 15%, but without it's going to be worrisome," Jeremy Siegel says.Marketsread more
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Tesla solar energy systems reportedly ignited at an Amazon warehouse in Redlands, California last June, and the Seattle e-commerce titan confirmed that it has no further plans...Technologyread more
The death comes as federal and state health officials investigate a slew of lung illnesses in connection to e-cigarette use.Health and Scienceread more
Sen. Elizabeth Warren wants billionaires like Howard Schultz and Michael Bloomberg to subscribe to the United States' "social contract" and pay "their fair share" in taxes, she told CNBC on Thursday in an interview with Jim Cramer.
"I want these billionaires to stop being freeloaders," the Democratic senator said on "Mad Money." "I want them to pick up their fair share. That's how we make a system that works not just for the rich and the powerful, but works for all of us."
Warren, who is considering a 2020 run for president, proposed a "wealth tax" on Americans with over $50 million in assets earlier this month. She has also criticized former Starbucks CEO Howard Schultz — who is also weighing a 2020 presidential bid — for thinking he can "buy the presidency."
On Thursday, the Massachusetts senator broke down her problem with billionaires, even those who contribute to charities and do good social works.
"We have watched billionaires stand up and say, 'Look, I want to run for president. And one of the first planks in my plan is going to be no new taxes for billionaires,'" she told Cramer.
"The thing about taxes is everybody who is an ultra-millionaire has to pay a portion, not just those who sign up, not just those who wave their hands and say, 'I'll do it as long as it goes to the particular charity I like,'" Warren continued. "That is your obligation. That's part of the social contract. That's part of being a citizen of the United States of America."
A 2 percent tax, for example, was "not unreasonable" to impose on the "thinnest one-tenth of 1 percent" who earn multimillions, Warren said, adding that that portion of the U.S. population pays roughly 3.2 percent of their total worth in taxes, compared with the 7.2 percent the 99 percent pays.
That additional money could go to child care, lowering student loan debt, or a Green New Deal, she added.
"All I'm asking for is a little slice from the tippy, tippy top. A slice that would raise — and this is the shocking part, Jim — about $2.75 trillion over the next 10 years," the senator said. "That's money we need so that every kid in this country has a decent childcare opportunity, has an opportunity for pre-K, has an opportunity for a decent school."