Wealthy Archives - DR News - News, Retirement, Finance

Biden Aides Float Raising Taxes on the Wealthy Amidst Trump GOP Frontrunner Emergence

Washington D.C. – As the 2024 presidential election approaches, the Biden camp is strategizing to differentiate itself from the likely Republican frontrunner, Donald Trump. One of the proposed strategies includes raising taxes on the wealthy to bolster Social Security benefits. These efforts come as recent polls show Trump leading among Republicans and Biden trailing among Democrats. The Harvard-Harris poll also indicates Trump holding a lead over Biden in general election polling. To set the Biden …

Windfall: 401(k) Industry Quietly Passes $300 Billion to Wealthy

Washington, D.C. – Lawmakers in the United States quietly passed a bill that experts say could result in a $300 billion windfall for the wealthy, raising concerns about the influence of the 401(k) industry on Congress. The legislation, known as the ‘401(k) Fairness Act,’ has sparked debate among politicians and experts on its potential impact on income inequality. The bill was introduced by representatives who have received significant donations from the financial industry, leading critics …

Shanahan, Wealthy Attorney and Entrepreneur, to Join RFK Jr.’s Campaign as Vice Presidential Pick

Oakland, California – Independent presidential candidate Robert F. Kennedy Jr. is set to announce his vice presidential pick on Tuesday. Nicole Shanahan, a prominent attorney and entrepreneur from the San Francisco Bay Area, will join Kennedy’s campaign, according to sources familiar with the plans. Both Kennedy and Shanahan have not previously sought elected office, but Shanahan has shown her support by contributing to Kennedy’s campaign and super PAC. The Kennedy campaign will hold an announcement …

Trump’s Wealthy Choice: Forgoing Social Security Benefits Spurs Debate on Program’s Future

Washington, D.C. – Former President Donald Trump, with a reported fortune of $2.6 billion, has made the decision to forego claiming Social Security benefits despite being eligible. This choice reflects a growing trend among wealthy retirees and raises questions about the sustainability of the Social Security program and the ethical considerations surrounding affluent individuals participating in the system. Having become eligible for Social Security benefits more than ten years ago, Trump’s decision not to claim …

Wealthy Warren Buffett Rejects Dynastic Inheritance in Latest Shareholder Letter

Omaha, Nebraska – Renowned investor Warren Buffett has reiterated his stance on dynastic wealth in his 2023 shareholder letter, emphasizing his longstanding commitment to philanthropy over leaving his billions to family members. With the recent passing of his close friend and partner, Charlie Munger, Buffett’s reflections in the letter extend beyond financial success to a deeper appreciation of relationships and legacy. In the annual letter, Buffett delves into the history and philosophy of Berkshire Hathaway, …