CBO Tariff Math Misses Point: Sen. Welch on US Budget
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
21 minutes ago
- Yahoo
Mark Cuban's 3 Most Controversial Money Tips — And Who Stands To Gain From Them
Mark Cuban is a self-made billionaire, an early internet pioneer and a celebrity influencer. According to Forbes, his efforts have earned him a personal fortune of $5.7 billion. One thing he isn't, however, is reserved. The Cost Plus Drugs founder and Dallas Mavericks minority owner is either famous or infamous, depending on who you ask, for his brash, outspoken, and often unconventional positions on politics, technology, and, of course, money. Explore More: Try This: Here are three of Cuban's most controversial money tips, along with insight into who might benefit from them. The longtime billionaire also shared some genius things to do with your money. Cut Up Your Credit Cards Conventional credit card wisdom advises against running a revolving debt. Those who pay their statement balance in full every month avoid paying interest and can take advantage of valuable perks and rewards, a dynamic Cuban is all too familiar with. 'I should have paid off my cards every 30 days,' Cuban said in a 2016 Business Insider interview regarding money mistakes from his younger years. However, even not running a balance isn't enough for Cuban, who bucks popular opinion by advising people to avoid charging altogether. Check Out: 'Credit cards are the worst investment that you can make,' he continued. 'That the money I save on interest by not having debt is better than any return I could possibly get by investing that money in the stock market.' In a 2008 blog post, he put it even more bluntly: 'Cut up your credit cards. If you use a credit card, you don't want to be rich.' Who stands to gain: Undisciplined consumers prone to overspending and those with poor organizational skills who might struggle to keep track of credit card accounts. Live Like a Student While there's near-universal agreement that overspending is toxic and living within one's means is crucial, many experts advise against extreme frugality because, for most people, spartan lifestyles are not sustainable in the long term, and excessive privation can be harmful. As a guest on 'The Really Good Podcast,' Cuban reminisced about sleeping on the floor as a young man. To save money, he lived with so many roommates that he not only didn't have a room, but went without a bed and a closet, too. He has previously discussed driving cars that cost no more than $200 and grocery shopping at midnight to save as much as possible after being inspired by a book to live on $50 a day. He has referred to the lifestyle as living 'like a student,' which he suggests to anyone who is not yet rich. Who stands to gain: Those with very low incomes who can't currently afford more than the bare essentials without going into debt; Highly disciplined savers willing to endure extreme deprivation to build savings quickly. 'Diversification Is for Idiots' Diversification — not putting all your eggs in one basket by spreading your money across different assets — is one of the cornerstones of modern investing wisdom. With that in mind, Cuban summed up what might be his most controversial piece of advice in a 2011 Wall Street Journal interview, in which he told the host, 'Diversification is for idiots.' Channeling the wisdom of Warren Buffett, who Medium quotes as saying, 'Diversification is for people who don't know what they're doing,' Cuban concluded, 'You can't diversify enough to know what you're doing.' Who stands to gain: Experienced, skilled investors who have the knowledge and resources to conduct high-level analysis — and money to lose if their big bets fail. More From GOBankingRates 3 Luxury SUVs That Will Have Massive Price Drops in Summer 2025 9 Downsizing Tips for the Middle Class To Save on Monthly Expenses These Cars May Seem Expensive, but They Rarely Need Repairs This article originally appeared on Mark Cuban's 3 Most Controversial Money Tips — And Who Stands To Gain From Them 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
21 minutes ago
- Yahoo
Jeff Daniels issues pointed seven-word message for Trump voters
Yahoo is using AI to generate takeaways from this article. This means the info may not always match what's in the article. Reporting mistakes helps us improve the experience. Yahoo is using AI to generate takeaways from this article. This means the info may not always match what's in the article. Reporting mistakes helps us improve the experience. Yahoo is using AI to generate takeaways from this article. This means the info may not always match what's in the article. Reporting mistakes helps us improve the experience. Generate Key Takeaways Actor Jeff Daniels has again lashed out at President Donald Trump's supporters, this time with a seven-word message. The 70-year-old Emmy-winning actor, who on numerous occasions has criticized Trump and the GOP, spoke to MSNBC's Nicolle Wallace on the latest episode of her The Best People podcast about the current political climate under the Trump administration, including tariffs and the state of the Republican party. 'When Mitch [McConnell] started stacking the courts 25 years ago, I said it on your show once, they can see it coming,' Daniels told the host. 'And Mitch and company could see it coming. They were going to be the minority, so they just started and then here we are, and now you got it.' Issuing a pointed seven-word message to Trump supporters 'who thought this would be ok,' Daniels said: 'I hope you're losing tons of money.' Wallace responded in agreement. 'I mean, the tariffs are going to hurt your neighbors.' Jeff Daniels (left) said he hopes Trump supporters are 'losing tons of money' (Getty) Daniels further concurred, saying: 'Which I think, at the end of the day, that's what's going to do it. 'Wait a minute, the grocery bill is what? $180 more? I can't get that car that we have to have unless I pay another $8,000. What? Who do I blame for that? Who do I see about that?' One person.' When approached for comment, White House Spokesman Kush Desai told The Independent: 'Wow, another washed up, out-of-touch left-wing Hollywood clown is wishing harm on everyday Americans because they disagree with his opinions. Unfortunately for Jeff and fortunately for the American people, under President Trump bond and stock markets are rallying, Joe Biden's inflation crisis is over, and real wages are rising.' Elsewhere in the episode, Wallace opined that America has experienced a 'loss' in decency over the desire for more affordable goods. 'Well, I think at the end of the day it would be about just the price of eggs, did it go up or down, because that's what he told me he was going to lower the price of eggs or my grocery bill,' The Newsroom alum replied, branding the president a 'snake oil salesman.' Daniels also lamented Kamala Harris's loss in the 2024 presidential election, admitting he still thinks about her and how 'she would have been a good choice. I don't care what they say, because she would have done what [Abraham] Lincoln did.' Explaining how exactly he thought the former Vice President would have governed like Lincoln, Daniels said Lincoln 'surrounded himself with the people who would disagree with him, not the people who would, you know, take a knee and go, 'Yeah, more tariffs, sir, more.'' Daniels shot to fame for his leading role in 1994's cult classic comedy, Dumb and Dumber, and its 2014 sequel, Dumb and Dumber To. He's additionally featured in the beloved family comedy Because of Winn-Dixie (2005), George Clooney's 2005 political drama, Good Night, and Good Luck, and 2016's Allegiant, the final film in the Divergent dystopian trilogy. Besides film, he's also starred in numerous TV shows, including HBO's The Newsroom, The Looming Tower, and Godless. His work in all three earned him a total of five Emmy nominations, of which he won two. He received his first Emmy for Outstanding Lead Actor in a Drama Series in 2013 for The Newsroom, and his second in 2018 for Outstanding Supporting Actor in a Limited Series or TV Movie for Godless.
Yahoo
21 minutes ago
- Yahoo
US considering removing tax on capital gains on home sales, Trump says
WASHINGTON (Reuters) -U.S. President Donald Trump said on Tuesday his administration is considering removing taxes on capital gains on home sales. "If the Fed would lower the rates, we wouldn't even have to do that," Trump told reporters in the Oval Office. "But we are thinking about no tax on capital gains on houses." Profits from the sale of homes, like other assets, are now subject to capital gains taxes, although there are large deductions for sales of primary residences. Republican Representative Marjorie Taylor Greene interpreted Trump's comments as a show of support for a bill she's proposed called the No Tax on Home Sales Act, which would eliminate the federal capital gains tax on the sale of primary residences. "Thank you, President Trump, for supporting my No Tax on Home Sales Act!" Greene said in a post on X. "You worked for it. You should keep it. Let's get this bill passed!" Greene said. Congress recently passed legislation that made permanent broad tax cuts passed in 2017 during Trump's first presidency. The bill also fulfilled Trump's campaign promises to include new tax breaks for tips, overtime pay, seniors and auto loans. Trump's political opponents say the measures will mainly help the rich and add trillions of dollars to U.S. national debt, only partially offset by deep cuts to healthcare and other benefits for the poor. Sign in to access your portfolio
