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Category: National News
National Black Business Chamber champion Harry C. Alford dies
National Black Business Chamber champion Harry C. Alford dies It is with great sadness that our Warrior Leader and President/CEO and Co-Founder of the National Black Chamber of Commerce (NBCC), Harry C. Alford, transitioned Monday, December 6, in Washington, DC. He was preceded in death by his wife, Kay DeBow, Vice President and Co-Founder of
How wealthy Americans are spending their money this holiday season
Pedestrians view the holiday windows at the Saks Fifth Avenue flagship department store in New York, on Thursday, Dec. 2, 2021. Christopher Occhicone | Bloomberg | Getty Images Despite supply chain disruptions and inflationary issues, retail trade groups and industry watchers are forecasting record levels of sales this holiday season. But a majority of the
How bad is inflation? Even millionaires are worried about it.
Inflation is the number one economic fear among millionaires for the first time in recent history, according to the CNBC Millionaire Survey. When asked about the biggest risk to the U.S. economy, inflation ranked first, alongside government dysfunction, according to the survey of investors with $1 million or more in investible assets. The results marked
Real-estate brokers brace for ‘flood’ of wealthy buyers from overseas as travel restrictions lift
A pedestrian stands in front of a Manhattan condominium building in New York. Mark Abramson | Bloomberg | Getty Images Wealthy real-estate buyers from overseas are expected to descend on the nation’s luxury housing markets Monday, giving a second boost to demand for high-priced apartments and mansions. The U.S. will lift the travel ban on
Democrats might not touch these taxes on the wealthy, but they’re going up anyway
Tasos Katopodis | Getty Images News | Getty Images Democrats jettisoned a number of proposals to raise taxes on the wealthy in their $1.75 trillion social and climate spending measure. But those taxes are set to increase even if lawmakers don’t touch them. Starting in 2026, the marginal income-tax rate paid by the highest earners
How inflation is changing the way wealthy investors think about the market
It is hard to miss inflation in the recent numbers, and maybe even more so, the fear that inflation is going to hang around a lot longer than the Federal Reserve and investors would like. You may see it at the pump, in food prices, or the housing market, and for those who follow stocks,
Backdoor Roth, a tax strategy favored by the rich, survives in Democrats’ latest plan
Bill Koplitz | Moment | Getty Images A retirement tax strategy favored by the wealthy survived in Democrats’ latest social and climate spending plan, after an earlier version had it on the chopping block. So-called backdoor Roth strategies are a way for the rich to skirt income and savings limits that apply to Roth individual