Forbes lists Trump as having a current net worth of $2.5 billion. In 2011, Trump was listed as having a net worth of $2.9 billion, which is $400 million more than he is worth now. And adjusted for inflation that $2.9 billion would be worth more than $3.5 billion in current dollars — over $1 billion more than Forbes says he’s worth now.
The financial markets are already showing disturbing signs of the impact of a possible default. Federal borrowing rates are creeping up, and the U.S. stock market is exhibiting uncertainty-related declines.
President Biden and Treasury Secretary Janet Yellen should resist caving to Republican pressure on the debt ceiling and raise the funds needed to pay for government spending programs with special issue Treasuries to cash-rich friendly countries.
Now a deputy for Warren Buffett's Berkshire Hathaway, Ted Weschler was a little-known money manager when he started building what became a $264 million retirement account. Taking full advantage of an earlier employer’s match was key.
A better-equipped and better-staffed IRS will change the way that big companies and ultra-wealthy tax-dodgers behave -- and that's a lot more valuable to our country than any profits that taxpayers might get from a beefed-up tax agency.
A bipartisan proposal would let people wait until they’re 75 to begin taking (federally taxable) distributions from their retirement accounts. It would really only help a small share of well-off people.
May 14, 2021
About Allan Sloan
Allan Sloan is a columnist for The Washington Post. He is a seven-time winner of the Loeb Award, business journalism's highest honor.