Here come the taxes

U.S. President Joe Biden will propose almost doubling the capital gains tax rate on the rich to fund programs aimed in part at rectifying historic economic inequality. For those earning $1 million or more, the new top rate, coupled with an existing surtax on investment income, means federal tax rates for wealthy investors could be as high as 43.4%. Republicans unsurprisingly slammed the initiative while praising their own 2017 tax overhaul. Senator Chuck Grassley of Iowa said of that law, which cut taxes for the rich and corporations: “If it ain’t broke, don’t fix it.” David E. Rovella 

Bloomberg is tracking the progress of coronavirus vaccines while mapping the pandemic globally and across America

Here are today’s top stories   

Wall Street traders, focused on the implications of the White House plan for investing, said a higher levy on stock profits could lead to a sell-off in the near-term. Here’s your markets wrap.

One of the largest studies of Covid-19 “long haulers” has proved what many doctors suspected: Not only are many patients suffering a raft of health problems six months after infection, they’re also at significantly greater risk of dying.

With the majority of vaccinations having taken place in the world’s richest countries, the Biden administration is weighing an appeal from progressive Democrats to accelerate global access to Covid-19 vaccines by supporting a waiver of intellectual-property protections, a move opposed by big drugmakers. Meanwhile, thousands are dying from the virus daily as variants spread, a dynamic that could lead to current vaccines becoming ineffective. India just set a record for a single day of infections at 314,000. Here is the latest on the pandemic.

Several funeral pyres burn on the Gomti riverfront on April 15 in Lucknow, India. More than 2,000 Indians died from Covid-19 on Wednesday.

Photographer: Hindustan Times/Hindustan Times

For months after the first Covid-19 vaccines became available, Americans were willing to wait in line, obsessively refresh booking websites and drive long distances for the shots. That’s changing. Now, companies are starting to pay workers to get vaccinated.

The boss of a Texas investment firm admitted to a $31 million fraud and called in federal investigators after losing almost all of his money under management.

Happy Earth Day. Bitcoin mining is considered by many to be environmentally destructive given the tremendous amount of energy it requires. But according to Cathie Wood’s ARK Investment Management, it could actually be good for the planet.

Supreme Court Justice Amy Coney Barrett, a Donald Trump nominee who ascended to the bench only after an unprecedented, last-minute push by then Senate Majority Leader Mitch McConnell at the height of the 2020 campaign, is causing even more controversy. She has a really big book deal

Amy Coney Barrett

Photographer: Daniel Acker/Bloomberg

What you’ll need to know tomorrow 

What you’ll want to read in Bloomberg Pursuits

Four Old-Growth Forests to Visit (While You Can)

If you spent 2020 checking off national parks and road tripping close to home, it may be time for the next great thing outdoors: exploring the arboreal wonder of an old-growth forest.

An ancient tropical tree in Daintree National Park.

Photographer: Ingo Oeland / Alamy Stock Photo

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Market spillover grows

Wednesday, April 21, 2021

Bloomberg Follow Us Get the newsletter Financial markets around the world are waking up to the risks of another coronavirus flare-up. Asian markets, blighted by rising cases from Japan to India, have

Guilty of murder

Tuesday, April 20, 2021

Bloomberg Follow Us Get the newsletter Ex-Minneapolis cop Derek Chauvin murdered George Floyd, a jury held on Tuesday. Floyd, an unarmed Black man, said he couldn't breathe as Chauvin, who is White

Bitcoin off the rails

Monday, April 19, 2021

Bloomberg Follow Us Get the newsletter The Bitcoin rollercoaster is back. The cryptocurrency fell by as much as 15% on Sunday before recovering a bit Monday with rival coins like Ether and XRP also

200 million shots

Monday, April 19, 2021

Bloomberg Follow Us Get the newsletter The story of America and the pandemic has been, up until recently, one of catastrophic failures stemming from a combination of bad luck, incompetence, ambivalence

Crypto craze gets crazier

Monday, April 19, 2021

Bloomberg Follow Us Get the newsletter The halt in using Johnson & Johnson's Covid-19 vaccine could last several weeks and risks crimping America's vaccine drive at a pivotal moment. Our

Weekly Wrapup: Bills and Gambles

Saturday, July 24, 2021

Finshots Weekly Wrapup: Bills and Gambles In this week's wrapup we talk about the Monsoon Session of Parliament, Reliance's acquisition of Just Dial, the new drone regulations, and finally

Dangerous games

Friday, July 23, 2021

Bloomberg After a yearlong delay due to Covid-19, and some scandals and high profile resignations, the 2020 Tokyo Olympics are finally underway. The Games, the first ever without spectators, promise to

FTT Update: This Newsletter Requires Vaccination

Friday, July 23, 2021

​ ​ Hi all, Julie here. Happy Summer Friday all! Jordan and I close on our new home IN ONE WEEK! Ahhh! Keep us in your prayers as we hope that all goes well with that as well as the move itself. In the

Not Your Parents’ Mutual Funds: How Gen Z Is Investing

Friday, July 23, 2021

Why you should worry about the next crypto crash July 23, 2021 So much for babysitting or busing tables. Today's young adults are using the internet to make money, and not chump change either.

Ever Grande

Friday, July 23, 2021

Plus: Simply not Fintechery, Circle, Equity Research, Finally ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Taking Strategy Seriously

Friday, July 23, 2021

Plus! Errata, Streaming as Instant Gratification; Batteries; Shrinking Analyst Teams; Diffident Voters; Oil; Recapitalized ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Prices for Used Cars Are Soaring, and That Could Cost Drivers Who Aren’t Even Looking to Buy

Friday, July 23, 2021

The amount you receive if your car is a total loss may fall short of its replacement cost. July 23, 2021 INSURANCE Prices for Used Cars Are Soaring, and That Could Cost Drivers Who Aren't Even

Litigation Finance

Friday, July 23, 2021

Plus: Stress Tests, Revolut, Tink/Visa ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

The Long Slow Short

Friday, July 23, 2021

Plus: Robinhood/Distressed Investing, Banker Hours, Compound Treasury ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

What is Robinhood?

Friday, July 23, 2021

Plus: Buy Now Pay Later, M&A, Weather ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌