Day 3 of Pittsburgh's Juneteenth celebrations include annual Grand Jubilee Parade
Now in its ninth year, the parade is organized by B. Marshall and has become a summer tradition.
"In this day and age and political climate, it's important for everyone to unify, come together collectively, and make Pittsburgh one of the best cities on the block or in the country," said organizer B. Marshall.
The parade featured everything from dancers to motorcycle groups and organizations. Community leaders and residents lined the streets in support, emphasizing the importance of the holiday and its message.
"It's a neighborhood event, it's all across Pittsburgh. And it brings people out to talk about Juneteenth and the meaning of it," said the Democratic nominee in the 2025 Pittsburgh mayoral election and Allegheny County Controller Corey O'Connor.
Among this year's grand marshals was Danielle Brown, National Field Director for Black Voters Matter.
"Just coming together, just for a moment to love each other, just to have joy, just to celebrate in the way we know how to celebrate in the Black community," said Brown.
While Juneteenth officially became a federal holiday in 2021, many attendees emphasized the need for deeper recognition and support, particularly in a time when some celebrations have faced resistance.
"I think it's important for everybody to realize and celebrate that major step towards justice in the United States," said Ruth Quint, Co-President of the League of Women Voters.
"Moving forward, we'd like to see a more collaborative effort from the city and get a parade route that's more centralized. There have been a lot of restrictions in the past; we need to liberate that if we can," added Eric Moye, incoming President of Pittsburgh's Downtown Rotary Club.
Despite the broader challenges, the energy on the ground was one of joy and pride. From music and food to family fun activities, there was a little something for everyone.
Next year will mark the 10th anniversary of the parade. Organizers aren't revealing much yet, but promise the milestone celebration will be one to remember.
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22 minutes ago
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Trump tariffs live updates: No immediate tariff pause after US-China talks; Trump says Aug. 1 deadline will stay
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Meanwhile, the US and China concluded their latest round of tariff and trade talks in Sweden on Tuesday, with both sides touting progress but without an immediate announcement of a further tariff delay. Treasury Secretary Scott Bessent said President Trump would make the final call on extending the trade truce between the world's two largest economies. This week's talks were the third round for the countries, which have slowly deescalated trade tensions since Trump imposed gargantuan tariffs in April, and China reciprocated. The countries suspended those tariffs for 90 days — a suspension that is set to end on Aug. 12. Bessent said another 90-day extension is possible. Also, the US and EU are racing to lock in the final details of their major new trade deal before Friday. Top EU critics say it's a rushed fix. German Chancellor Friedrich Merz called the outcome unsatisfying and France's Bayrou dubbed the EU's "submission" a "dark day." 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This will be a temporary measure as it holds off on a fresh trade concession ahead of President Trump's August 1 deadline. Reuters reports: Read more here. Why markets are shrugging off lack of details in Trump trade deals The simplest reason, as explained by Siebert Financial CIO Mark Malek, is that overall progress in various trade talks suggests that worst case scenarios are being avoided "so I think for the most part we're happy." More from Yahoo Finance's Ben Werschkul: Read more here. Tariffs bleed into profits A few tariff mentions on earnings releases this morning that have caught my attention: P&G beats on earnings, warns of $1 billion tariff hit The consumer goods giant, Proctor and Gamble (PG) said on Tuesday that it will see a $1 billion hit to profits in its new fiscal year as a result of tariffs. Yahoo Finance's executive editor Brian Sozzi looks into the latest earnings report from makers of Tide and Pampers. Read more here. 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Motorcycle maker Harley Davidson (HOG) reported lower second-quarter profit and did not provide an annual forecast on Wednesday, as US President Trump's tariffs continued to weigh on the motorcycle maker. Reuters reports: Read more here. India eyes fall deadline for US deal amid Trump threats India has said that it will continue its negotiations with the US for a trade deal and hope one can be established by fall of 2025, despite President Trump's Aug. 1 deadline, where trading partners will face higher tariffs. Bloomberg News reports: Read more here. India has said that it will continue its negotiations with the US for a trade deal and hope one can be established by fall of 2025, despite President Trump's Aug. 1 deadline, where trading partners will face higher tariffs. Bloomberg News reports: Read more here. Luxury car brands Aston Martin and Porsche report tariff hit President Trump's tariffs have caused two automakers to either issue warnings on Wednesday or trim outlooks. British luxury carmaker Aston Martin (AML.L, ARGGY) issued a profit warning on Wednesday, citing the impact of US import tariffs and prolonged suppressed Asian demand linked to China's economic slowdown. While Volkswagen's ( VWAGY) luxury brand Porsche cut its full-year profitability target on Wednesday after the EU's trade deal with the US and reported a $462-million hit from tariffs in the first half. Reuters reports: Read more here. President Trump's tariffs have caused two automakers to either issue warnings on Wednesday or trim outlooks. British luxury carmaker Aston Martin (AML.L, ARGGY) issued a profit warning on Wednesday, citing the impact of US import tariffs and prolonged suppressed Asian demand linked to China's economic slowdown. While Volkswagen's ( VWAGY) luxury brand Porsche cut its full-year profitability target on Wednesday after the EU's trade deal with the US and reported a $462-million hit from tariffs in the first half. Reuters reports: Read more here. Trump: India may get 20% to 25% tariff but not yet final President Trump said India could face tariffs of 20% to 25%, but added the final rate isn't set yet as both countries work on a trade deal before the August 1 deadline. 'I think so,' Trump told reporters Tuesday when asked if that was a possible tariff rate for New Delhi. 'India has been a good friend, but India has charged basically more tariffs than almost any other country,' Trump said aboard Air Force One as he returned to Washington from a five-day visit to Scotland. 'You just can't do that.' The US Trade Representative Jamieson Greer said "more negotiations" are needed between the US and India in order to secure a trade deal, Greer's statement was made just days before the Aug. 1 deadline for higher tariffs. Bloomberg News reports: Read more here. President Trump said India could face tariffs of 20% to 25%, but added the final rate isn't set yet as both countries work on a trade deal before the August 1 deadline. 'I think so,' Trump told reporters Tuesday when asked if that was a possible tariff rate for New Delhi. 'India has been a good friend, but India has charged basically more tariffs than almost any other country,' Trump said aboard Air Force One as he returned to Washington from a five-day visit to Scotland. 'You just can't do that.' The US Trade Representative Jamieson Greer said "more negotiations" are needed between the US and India in order to secure a trade deal, Greer's statement was made just days before the Aug. 1 deadline for higher tariffs. Bloomberg News reports: Read more here. Brazil asks US to spare key food products, planes from tariffs Brazil has asked the US to spare key sectors from sky-high tariffs that will take effect on Friday. Specifically, it has asked for exemptions for food products and aircraft from Embraer, the world's third-largest planemaker. More from Reuters: Brazil is facing 50% tariffs on its exports to the US from Friday. That is among the highest rates Trump has threatened in his new round of sweeping tariffs. Those levies are coming in part because of what Trump alleges is the country's unfair treatment of its former president, who is currently on trial in the country. Read more here. Brazil has asked the US to spare key sectors from sky-high tariffs that will take effect on Friday. Specifically, it has asked for exemptions for food products and aircraft from Embraer, the world's third-largest planemaker. More from Reuters: Brazil is facing 50% tariffs on its exports to the US from Friday. That is among the highest rates Trump has threatened in his new round of sweeping tariffs. Those levies are coming in part because of what Trump alleges is the country's unfair treatment of its former president, who is currently on trial in the country. Read more here. US-China talks end without further pause, with Trump to make 'final call' US and Chinese negotiators wrapped up two days of talks Tuesday without an immediate announcement of a further tariff delay between the world's two largest economies as markets watch closely for an offramp to avert additional duties that could be in the offing in about two weeks' time. "We're going to head back to Washington, D.C., and we're going to talk to the president about whether that's something that he wants to do," said Trade Representative Jamieson Greer after the talks concluded in Stockholm, Sweden. "The president can make a final call," he added. Treasury Secretary Scott Bessent added Tuesday that it was "a very fulsome two days" of talks and that another 90-day pause remains on the table with the overall tone of talks being "very constructive." Trump himself was asked later in the afternoon about the chances of approval, telling reporters on Air Force One he had just spoken to Bessent and that he would decide after a briefing but that Bessent felt good about Tuesday's meeting. Read more here. US and Chinese negotiators wrapped up two days of talks Tuesday without an immediate announcement of a further tariff delay between the world's two largest economies as markets watch closely for an offramp to avert additional duties that could be in the offing in about two weeks' time. "We're going to head back to Washington, D.C., and we're going to talk to the president about whether that's something that he wants to do," said Trade Representative Jamieson Greer after the talks concluded in Stockholm, Sweden. "The president can make a final call," he added. Treasury Secretary Scott Bessent added Tuesday that it was "a very fulsome two days" of talks and that another 90-day pause remains on the table with the overall tone of talks being "very constructive." Trump himself was asked later in the afternoon about the chances of approval, telling reporters on Air Force One he had just spoken to Bessent and that he would decide after a briefing but that Bessent felt good about Tuesday's meeting. Read more here. US goods trade deficit hits nearly 2-year low as imports tumble The US trade deficit in goods narrowed in June to its lowest in nearly two years as imports dropped sharply. Reuters reports: Read more here. The US trade deficit in goods narrowed in June to its lowest in nearly two years as imports dropped sharply. Reuters reports: Read more here. IMF edges 2025 growth forecast slightly higher, warns tariff risks still dog outlook Reuters reports: Read more here. Reuters reports: Read more here. India braces for higher US tariffs, eyes broader trade deal: Sources India is bracing itself for higher US tariffs, which will likely be between 20-25% on some exports, according to people familiar with the matter. This will be a temporary measure as it holds off on a fresh trade concession ahead of President Trump's August 1 deadline. Reuters reports: Read more here. India is bracing itself for higher US tariffs, which will likely be between 20-25% on some exports, according to people familiar with the matter. This will be a temporary measure as it holds off on a fresh trade concession ahead of President Trump's August 1 deadline. Reuters reports: Read more here. Why markets are shrugging off lack of details in Trump trade deals The simplest reason, as explained by Siebert Financial CIO Mark Malek, is that overall progress in various trade talks suggests that worst case scenarios are being avoided "so I think for the most part we're happy." More from Yahoo Finance's Ben Werschkul: Read more here. The simplest reason, as explained by Siebert Financial CIO Mark Malek, is that overall progress in various trade talks suggests that worst case scenarios are being avoided "so I think for the most part we're happy." More from Yahoo Finance's Ben Werschkul: Read more here. Tariffs bleed into profits A few tariff mentions on earnings releases this morning that have caught my attention: A few tariff mentions on earnings releases this morning that have caught my attention: P&G beats on earnings, warns of $1 billion tariff hit The consumer goods giant, Proctor and Gamble (PG) said on Tuesday that it will see a $1 billion hit to profits in its new fiscal year as a result of tariffs. Yahoo Finance's executive editor Brian Sozzi looks into the latest earnings report from makers of Tide and Pampers. Read more here. The consumer goods giant, Proctor and Gamble (PG) said on Tuesday that it will see a $1 billion hit to profits in its new fiscal year as a result of tariffs. Yahoo Finance's executive editor Brian Sozzi looks into the latest earnings report from makers of Tide and Pampers. Read more here. EU, US rush to clinch final details and lock in trade deal The EU and the US are rushing to finish a trade deal before the August 1 deadline. They want to agree on a joint statement that will allow the US to start cutting tariffs on some goods, like cars and car parts. After that, they will work on a final, legally binding deal. This will need approval from EU countries and maybe the European Parliament. The exact details are still being worked out. Some European leaders worry the deal might hurt their economies. But both sides are focused on finishing the deal soon to avoid more trade problems. Bloomberg News reports: Read more here. The EU and the US are rushing to finish a trade deal before the August 1 deadline. They want to agree on a joint statement that will allow the US to start cutting tariffs on some goods, like cars and car parts. After that, they will work on a final, legally binding deal. This will need approval from EU countries and maybe the European Parliament. The exact details are still being worked out. Some European leaders worry the deal might hurt their economies. But both sides are focused on finishing the deal soon to avoid more trade problems. Bloomberg News reports: Read more here. Trump official: More talks needed to clinch India deal The US Trade Representative Jamieson Greer said "more negotiations" are needed between the US and India in order to secure a trade deal, Greer's statement was made just days before the Aug. 1 deadline for higher tariffs. Bloomberg News reports: Read more here. The US Trade Representative Jamieson Greer said "more negotiations" are needed between the US and India in order to secure a trade deal, Greer's statement was made just days before the Aug. 1 deadline for higher tariffs. Bloomberg News reports: Read more here. Rating firms say US tariffs alone will not trigger EU sovereign downgrades Reuters reports: Read more here. Reuters reports: Read more here. US trade deal eases tariff uncertainties, but risks remain: Japan Japan said on Tuesday that its trade deal with the US has removed uncertainties on but attention must be given to the risks these policies are putting on the Japanese economy. Reuters reports: Read more here. Japan said on Tuesday that its trade deal with the US has removed uncertainties on but attention must be given to the risks these policies are putting on the Japanese economy. Reuters reports: Read more here. Philips soars after lifting margin outlook on softer tariff hit Royal Philips NV (PHG) stock rose 9% before the bell on Tuesday after it increased its profitability outlook as the impact of the trade war was not as severe as it feared. Bloomberg News reports: Read more here. Royal Philips NV (PHG) stock rose 9% before the bell on Tuesday after it increased its profitability outlook as the impact of the trade war was not as severe as it feared. Bloomberg News reports: Read more here. Stellantis warns of $1.7B US tariff impact in 2025 Stellantis (STLA) shared updated first-half results after giving early numbers last week. The company said that President Trump's tariffs will cost it $1.73 billion in 2025. Yahoo Finance's senior reporter Pras Subramanian looks into the automakers earnings further and its anticipated tariff hit: Read more here. Stellantis (STLA) shared updated first-half results after giving early numbers last week. The company said that President Trump's tariffs will cost it $1.73 billion in 2025. Yahoo Finance's senior reporter Pras Subramanian looks into the automakers earnings further and its anticipated tariff hit: Read more here. Germany's Merz says he did not expect better EU-US trade deal, German economy will suffer Germany's Chancellor released a statement saying he's not "satisfied" with the new EU-US trade deal and expressed concerns about how it'll affect his country's economy. Reuters reports: Read more here. Germany's Chancellor released a statement saying he's not "satisfied" with the new EU-US trade deal and expressed concerns about how it'll affect his country's economy. Reuters reports: Read more here.
Yahoo
22 minutes ago
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Trump announces 25% tariff on India starting Aug. 1, plus unspecified penalties for continuing to buy Russian energy
WASHINGTON (AP) — Trump announces 25% tariff on India starting Aug. 1, plus unspecified penalties for continuing to buy Russian energy. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22 minutes ago
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I Asked ChatGPT What Would Happen If Elon Musk Paid Taxes at the Same Rate as the Middle Class
The wealth gap in America is staggering, but the tax gap might be even more shocking. When I asked ChatGPT to calculate what would happen if Elon Musk paid taxes at the same effective rate as middle-class Americans, the AI's response revealed numbers that will make you question everything you thought you knew about tax fairness. Explore More: Read Next: The answer involves billions in potential revenue, fundamental questions about how wealth should be taxed and a tax loophole so effective that billionaires have turned it into an art form. The Massive Tax Rate Gap Between Billionaires and Regular Americans According to ChatGPT's analysis, the effective tax rate difference between Musk and middle-class Americans is almost unbelievable. While middle-class households typically pay an effective tax rate of 20% to 25% when combining federal income tax, payroll taxes and other obligations, Musk's situation tells a very different story. Based on ProPublica's investigation of IRS files, ChatGPT revealed that Musk paid a 'true tax rate' of just 3.27% on his wealth growth between 2014 and 2018. In 2018 specifically, he reportedly paid $0 in federal income tax despite his wealth increasing dramatically. The AI explained this isn't because Musk is breaking the law — it's because most of his wealth exists as unrealized gains in Tesla and SpaceX stock, which aren't taxed until sold. He can also borrow against his equity holdings, and loans aren't considered taxable income. What $3 Billion in Extra Tax Revenue Could Actually Fund ChatGPT ran the numbers on what would happen if Musk paid a 25% effective tax rate during that 2014 to 2018 period. With his wealth increasing by approximately $13.9 billion, he would have owed about $3.475 billion in taxes instead of the roughly $455 million he actually paid. That extra $3 billion could have funded some serious public programs: Free community college for over 1 million students Universal school lunches for millions of children Clean water infrastructure projects in cities like Flint Significant boosts to child tax credits or affordable housing grants The AI shared that this represents just one person over five years, making the potential impact even greater. How the Bezos and Buffett Comparisons Make It Even More Shocking ChatGPT compared Musk with other billionaires and the results were even more eye-opening. According to the same ProPublica data: Jeff Bezos saw his wealth grow by $99 billion from 2014- to 2018 while paying $973 million in taxes — an effective rate of just 0.98%. Warren Buffett increased his wealth by $24.3 billion during the same period but paid only $23.7 million in taxes — a microscopic 0.10% effective rate. If all three paid taxes at a 25% rate on their wealth growth, ChatGPT calculated they would have collectively contributed an additional $32.85 billion to federal revenue over just five years. 'That's from three people,' the AI shared, which really puts the spotlight on the scale of potential revenue from properly taxing extreme wealth. The 'Buy-Borrow-Die' Strategy That Makes It All Possible ChatGPT explained the sophisticated but perfectly legal strategy that allows billionaires to avoid most taxes: Buy assets (stocks, real estate, businesses) that appreciate over time. Borrow against those assets at low interest rates — loans aren't taxable income. Die and pass appreciated assets to heirs, who receive a 'stepped-up basis' that eliminates taxes on all previous gains. This approach allows billionaires to fund lavish lifestyles through borrowed money while their actual wealth compounds tax-free indefinitely. The AI pointed out that regular Americans can't use this strategy because we rely primarily on taxable wages rather than appreciating assets we can borrow against. Why Current Tax Rates Miss the Real Problem ChatGPT clarified an important distinction that often confuses discussions about billionaire taxes. When billionaires do have taxable income, they often pay rates similar to or higher than middle-class Americans on that specific income. But here's the key insight the AI provided: 'The tax code isn't broken because billionaires are cheating it. The tax code is broken because it treats labor as taxable and capital as optional.' Middle-class Americans pay taxes on nearly 100% of their economic gains through wages. Billionaires pay taxes on maybe 5% to 10% of their economic gains, since most wealth growth remains unrealized and untaxed. The Market Impact Question ChatGPT Couldn't Ignore The AI also addressed potential downsides of requiring billionaires to pay higher effective tax rates. Forcing someone like Musk to sell billions in stock to pay taxes could significantly impact share prices, potentially affecting retirement accounts and institutional investors. However, ChatGPT suggested this concern might be overblown, noting that well-designed tax policies could include provisions for gradual implementation or alternative payment methods to minimize market disruption. Policy Solutions That Could Actually Change Things ChatGPT outlined several approaches that could create more tax equity: Wealth taxes that apply annual rates to net worth above certain thresholds Minimum tax rates on total income including unrealized gains for ultra-high-net-worth individuals Closing borrowing loopholes by treating large loans against equity as taxable events Capital gains reform that taxes investment profits at the same rates as wages The AI wrote that while these changes would require significant political will, they're not technically impossible to implement. What This Means for Regular Taxpayers ChatGPT's analysis revealed that the current system essentially subsidizes billionaire wealth accumulation through tax policy. While middle-class Americans pay substantial portions of their income in taxes, the ultra-wealthy can legally structure their finances to minimize tax obligations dramatically. This creates a compounding effect where wealth concentrates at the top not just through investment returns, but through preferential tax treatment that allows more capital to remain invested and growing. The AI's Bottom Line on Tax Fairness When I asked ChatGPT for its overall assessment, the AI concluded that requiring billionaires to pay taxes at middle-class rates would generate massive federal revenue while establishing important principles about shared civic responsibility. 'The federal government could collect billions more in revenue annually,' the AI explained. 'It would set a precedent for tax equity.' However, ChatGPT wrote that achieving this would require 'major changes to the U.S. tax code, especially how wealth (not just income) is taxed.' The AI's analysis suggested that while the technical solutions exist, the political challenge lies in restructuring a tax system that currently treats different types of economic gains very differently. Why These Numbers Matter Beyond Politics ChatGPT's calculations reveal something beyond partisan tax policy debates — they show how current tax structures affect public investment capacity. The AI noted that tens of billions in additional revenue could fund infrastructure, education and social programs that benefit everyone, including the wealthy. 'If Musk, Bezos and Buffett paid taxes like the middle class, tens of billions more would flow into public programs,' the AI concluded. 'It would dramatically shift the conversation about economic fairness and tax equity.' Whether you think that's good policy or not, ChatGPT's analysis made clear that the current system creates vastly different tax obligations for different types of Americans — and the numbers are bigger than most people realize. More From GOBankingRates The 10 Most Reliable SUVs of 2025 This article originally appeared on I Asked ChatGPT What Would Happen If Elon Musk Paid Taxes at the Same Rate as the Middle Class Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
