Budget & Fiscal Policy - The report focuses on the mayor's proposed budget, specifically examining the mix of spending cuts and tax increases [1][2] - The analysis questions whether the mayor will consider budget cuts, given his historical reluctance to do so [2] - The report highlights the mayor's focus on increasing taxes for corporations and high-income earners [3] - The report emphasizes the need to address a $1.5 billion deficit for 2026 [5] Debt & Municipal Bonds - The city's potential reliance on debt to cover budget shortfalls is a key concern [4] - The city is active in the municipal bond market, primarily for infrastructure projects [4] - Airport financing is separate from the city's general budget [5] Credit Ratings & Pension Liabilities - Rating agencies view Chicago's pension liabilities as a significant pressure point [7] - The city's pension costs have increased due to recent legislation [8] - The administration needs to address the ongoing structural deficit to avoid potential ratings downgrades [8]

Government & Policy - The IRS should support, not penalize, American businesses [1]

Regulatory Stance - India distances itself from pro-crypto regulation [1] - The Union Minister reaffirms heavy taxation on cryptocurrency [1] - India focuses on CBDC (Central Bank Digital Currency) [1]

The Treasury Department and Internal Revenue Service delivered interim guidance that would hand companies with large crypto holdings a free pass. https://t.co/nhqxVtL7K8 ...

This is massively bullish for all US crypto investors.Here's why...The US Treasury and IRS have already issued guidance allowing companies to exclude unrealized crypto gains from corporate minimum tax guidelines.This is MASSIVELY important for companies like MicroStrategy and all of your favorite digital asset treasury companies.They could've faced billions in tax liability on unrealized Bitcoin gains.(And been forced to sell...)Today, the Senate Finance Committee held a hearing Wednesday with representativ ...

RT Bitcoin Magazine (@BitcoinMagazine)JUST IN: 🇺🇸 Treasury Department is preparing to formally relax a proposed rule to tax unrealised #bitcoin gains under CAMT. https://t.co/fs4ODVDdE8 ...

JUST IN: 🇺🇸 U.S. Treasury Department to relax proposed rule taxing unrealized Bitcoin gains under CAMT. https://t.co/1RwxUg6Dl5 ...

JUST IN: 🇺🇸 Treasury Department is preparing to formally relax a proposed rule to tax unrealised #bitcoin gains under CAMT. https://t.co/fs4ODVDdE8 ...

Core Insights - Warren Buffett's net worth is estimated between $139 billion and $142 billion, while the U.S. population is approximately 335 million [1] - If Buffett distributed $100 to every American, the total cost would be $33.5 billion, leaving him with approximately $105.5 billion [2] - The distribution scenario involves hidden costs such as taxes and market impacts, referred to as the "rake" [2] Financial Implications - Buffett's wealth is primarily tied up in Berkshire Hathaway stock, making it less liquid [3] - To access $34 billion in cash, Buffett would need to sell a significant portion of his stock, which is restricted by SEC regulations [4] - Selling too quickly could negatively impact Berkshire's stock price, further reducing his net worth [4] Tax Considerations - Distributing $100 to each American would not incur taxes for the recipients, but Buffett would face capital gains tax of up to 23.8% when converting stock to cash [5] - This tax could amount to approximately $8.3 billion before any distribution occurs [5] Administrative Challenges - Buffett, as a private citizen, lacks access to government databases like the IRS and Social Security, necessitating investment in administrative logistics for distribution [5]

My youngest brother went to a very liberal university back in the day. Naturally many of his political opinions were tinted by that experience.We’d get into arguments at family gatherings and I told him once he graduates and starts working he’ll see my side.Fast forward a few years and he gets his first job which included a $20,000 signing bonus.He called me and said “Bro there has to be a mistake, my signing bonus was $20k but they only sent me $12,000!?”I replied “welcome to the Conservative Party”threadg ...