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Warren Would Take Billionaires Down a Few Billion Pegs

“Yes, billionaires will have to pay a little more,” Senator Elizabeth Warren said of the revised tax package she introduced recently, “six cents on each dollar.” This modest-sounding proposal, though, would have a far-reaching impact on the wealthiest Americans when combined with her other tax plans — shrinking colossal fortunes …

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China Is Trying to Clean Up Its Banks. It’s Messy.

“In the past few years, some banks have expanded blindly,” said Yi Gang, the governor of the People’s Bank of China, China’s central bank, in September. Many of them also played tricks with their accounting, said Xiaoxi Zhang, who scours the financial statements of hundreds of small banks across China …

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Trump Vowed to Shrink the Trade Gap. It Just Grew.

WASHINGTON — The overall United States trade deficit continued to widen in the first nine months of 2019, data released Tuesday morning show, defying a Trump administration plan to try to shrink the figure by renegotiating trade agreements. The trade deficit for both goods and services grew to $481.3 billion …

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