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- ‘You have to say no’: Families struggling with holiday food costs
Susan Lilley, a single mother of two, said the weekly shop has become one of her biggest financial worries. [TheTopNews] Read More.12 mins ago - LARRY KUDLOW: It’s time to cut the capital gains tax
It’s time to cut the capital gains tax. Right now. If there’s a 3.0 reconciliation budget bill that requires only 50 Republican votes plus Veep Vance for 51, the GOP can do it. Put a capital gains tax cut in that 3.0. It’ll add growth to the GOP message. Polls show that in addition to the voter ID bill, voters want government fraud to be cleaned up, and they’d like middle class tax cuts for growth.Yet we need some leadership from the Senate majority leader, John Thune, and we also have to convince President Trump. He does want a reconciliation 3.0 bill for the SAVE America voter ID citizenship bill and for military spending replenishment, both of which are fine by me — but we need a cap gains tax cut that will benefit average middle class working folks.Right now empty nesters don’t need their multi-bedroom homes, but they really can’t afford to pay a $500,000 capital gains tax which comes mainly from President Biden’s 21 percent inflation during his four years in the White House.Last night I talked to Newt Gingrich about this issue and here’s what the former House Speaker said: "There are millions of Americans whose children have grown up their houses too big. They’d like to sell it. But the current tax consequence is so great they won’t sell it." Indexing capital gains, he added, "it’s very simple. Should you have to pay tax on inflation? Now, if you don’t pay tax on inflation, suddenly you have a much bigger interest in investing." Mr. Gingrich concluded that "when we cut the capital gains tax, when I was speaker, revenue was at $60 billion from capital gains. After we cut it, it jumped to $200 billion"Sure enough, absolutely. Actually, no one should have to pay a tax on inflation. So if we index the capital gains tax for inflation, people would just pay tax on the real appreciation of their home or other assets, and that is much fairer.We’re not just talking about the rich by the way, but really middle-class homeowners who might have bought their house maybe 30 or 40 years ago, and the inflation mounts up. Why should they be soaked just because the Federal Reserve printed too much money, or the federal government spent too much money? The answer is that they shouldn’t.Many of us have been fighting this battle for decades. Yet… [TheTopNews] Read More.2 hours ago - Workers who don’t use AI more likely to be laid off, survey findsAmerican workers who never use artificial intelligence (AI) may be more likely to be laid off than those who use AI more regularly, according to new data.Gallup research found that 62% of workers who have been laid off were non-users of AI who used it once per year or less often. By contrast, only 50% of currently employed workers were non-users of AI, with 22% described as infrequent AI users who utilize it a few times per month or year. Among laid-off workers, 16% were infrequent AI users.Currently employed workers were also more likely to report using AI on a daily basis or a few times per week, with 28% of current workers reporting that compared with 22% of laid-off workers in their prior role.FORD REHIRES EXPERIENCED ENGINEERS AFTER AI MISSES THE MARK"This pattern holds even after accounting for age, education, type of industry and the length of time since being laid off, suggesting that workers who are AI non-users appear to have been more vulnerable in the job market," Gallup said.One particularly vulnerable group was tech workers who reported using AI on a monthly basis or less frequently, as they were three times more likely (18%) to have been laid off than tech workers who used AI at least monthly (6%).Gallup added that workers in the tech sector were already facing elevated layoff exposure in comparison to other industries, which contributed to there being a stronger pattern between the level of AI use and layoffs than in other sectors.MICROSOFT CUTS 4,800 POSITIONS, INSISTS JOBS 'NOT BEING REPLACED BY AI'The survey also found that American workers are continuing to report that their employers are downsizing their workforces, and they don't see artificial intelligence (AI) or automation as driving the cuts.Gallup found that the share of U.S. employees who reported layoffs at their company was about 21% in the first quarter of 2026, as it held relatively steady after the share of such reports nearly tripled from the second quarter of 2022 to the third quarter of 2025.TOP TOBACCO COMPANY TO CUT THOUSANDS OF JOBSWorkers who experienced layoffs were asked by Gallup to describe the primary reason they were laid off and very few – just 1% of respondents – mentioned reasons related to AI and automation.However, that doesn't necessarily mean that AI or automation didn't contribute to employers' decisions to move forward with layoffs, as respondents cited other reasons like… [TheTopNews] Read More.2 hours ago
- Netflix, Disney and YouTube interested in FIFA World Cup U.S. rights, package co...
FIFA has alerted media companies that English- and Spanish-language U.S. rights are likely to be sold together for 2030 and 2034, likely driving up the price. [TheTopNews] Read More.2 hours ago - Some Social Security recipients will receive 2 payments in JulySome Social Security beneficiaries will receive two checks this July as a quirk in the calendar shifted the payment timeline for an adjacent month.The Social Security Administration (SSA) ordinarily disburses payments for Supplemental Security Income (SSI) on the first day of a given month. The SSI program provides monthly payments to certain older adults who have little or no income, as well as to disabled individuals, which differentiates it from Social Security's standard retirement benefits.When the first of the month falls on a weekend or a federal holiday, SSI payments for that month are made on the last business day of the preceding month to ensure that beneficiaries have received their funds before the new month begins, and they face potential expenses.Due to the way the 2026 calendar falls, two SSI payments will go out in July – one went out last week on July 1, while another will go out on Friday, July 31, for the month of August because Aug. 1 falls on a Saturday.SOCIAL SECURITY RECIPIENTS COULD SEE A BIGGER COST-OF-LIVING ADJUSTMENT IN 2027 AS INFLATION RISESThe 2026 calendar will cause this dynamic to play out two more times this year for SSI payments.Both October and December will see a pair of SSI payments go out to beneficiaries due to November 1 falling on a weekend and January 1 being a federal holiday on a Friday.LARRY FINK CALLS FOR SOCIAL SECURITY REFORM, SAYS INVESTING A PORTION OF FUNDS COULD STRENGTHEN THE PROGRAMSSI payments are typically made via direct deposit, though beneficiaries without bank accounts or who want to receive the funds through a different mechanism can get them on Direct Express cards.SSA moved to discontinue paper checks at the end of the federal government's last fiscal year in September following a Trump administration order earlier in 2025 that mandated all federal payments transition to electronic transfers, such as direct deposit to bank accounts or transfers to debit cards.HOW SOCIAL SECURITY RECIPIENTS CAN BOOST THEIR BENEFIT CHECKSData from the SSA showed that as of last September, more than 68 million Americans were receiving Social Security benefits and of that figure, around 390,000 or 0.6% were receiving paper checks.The SSA website offers methods by which beneficiaries can enroll in direct deposit through the My Social Security platform, or by phone through either the SSA or the Treasury Department's electronic payment solution center.GET FOX BUSINESS ON THE GO BY CLICKING… [TheTopNews] Read More.3 hours ago
- Philosophers Are the Latest Hiring Target for AI Companies
A.I. labs are hiring contrarian, chin-stroking, finger-steepling sages. Who’s underemployed now? [TheTopNews] Read More.4 hours ago
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