Your First Money & Politics Roundup: The Tax Plans of the Democratic Frontrunners

Plus: The Net Worth of Elizabeth Warren

Welcome to Forbes' Money & Politics newsletter, where we'll explore the most important stories in American domestic politics, global markets, international relations, energy, cybersecurity and defense. Each week, you’ll receive our top coverage of the big-picture news affecting your business, community and personal life.

MIND ON THEIR MONEY
Straight from the Forbes newsroom, our latest coverage of where money is flowing in Washington.

Tony Nitti, a certified public accountant and Forbes contributor has been breaking down the tax plans of the Democratic frontrunners. We present his findings so far.

Joe Biden hopes to boost the tax on capital gains.

Elizabeth Warren wants to implement a wealth tax, where anyone worth more than $50 million would have to hand over 2% of their fortune every year. That rate would increase to 3% for anyone whose fortune passed the $1 billion threshold. Such a proposal could cost America’s billionaires roughly $85 billion a year.

Bernie Sanders wants to jack up taxes for the biggest earnings, those making more than $10 million a year. Under his plan, their tax rates would soar from 37% to 70%.

Kamala Harris also seeks to raise taxes on the rich, but she wants to cut taxes for lower-income households.

Cory Booker hopes to boost the tax rate on capital gains and make significant changes to the estate tax.

GLOBAL ECONOMY
The biggest international developments affecting markets worldwide.

Following news that the U.S. and China reached a partial trade agreement on Friday, the stock market sharply rebounded, putting major indexes back within reach of record highs.

Turkey will not "back down" in its pursuit of natural gas in the hotly contested waters of the Eastern Mediterranean despite a simmering dispute with the European Union (EU) and member nation Cyprus over exploration rights, according to the country's Energy Minister Fatih Donmez.

The Ukraine, the country at the center of the Democrats' efforts to investigate and possibly impeach President Trump, resembles a typical developing world trade partner. In fact, Ukraine is on track to set it third consecutive record this year.

From 2016 through 2019, Argentina’s government awarded contracts for 6.5 gigawatts (GW) of new renewable energy capacity, helping make wind and solar the country’s cheapest unsubsidized sources of energy. Roughly 5 GW of this capacity is already either in operation or under construction, attracting nearly $7.5 billion in new investment and creating more than 11,000 new jobs.