What to know -- and what isn't known yet -- about US tax deductions for tips and overtime pay
But which workers will qualify for the new deductions is among the details the government has to work out after President Donald Trump's signature spending and policy package won final congressional approval .
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Their families fled the Nazis. Facing Trump, US Jews are making Germany ‘Plan B'
Germany is making it easier for the descendants of victims of Nazism to obtain German citizenship, and an increasing number of American Jews are applying. While some are seeking citizenship for practical reasons or as a form of reparation, others see it as a way to escape an increasingly anti-Semitic America under US President Donald Trump. Joe Sacks, a high school science teacher in Washington, DC, has begun the process of obtaining German citizenship. He is one of hundreds of Jewish Americans looking to reclaim German citizenship after their families fled the Nazis. "You click 'Yes, I'm Jewish' on the German form and send it to the German government,' he told NPR in an interview last month. 'It's wild.' Among the hundreds of Jewish-American applicants seeking German citizenship, many cite practical reasons like easier travel or opportunities in Europe. Others say they want to have a 'Plan B' in today's tense political climate. But for many, it is a decision taken with a heavy heart. A growing trend Trump's attempts to demonize and scapegoat segments of the population – notably immigrants, 'elite' institutions like universities as well as the media – are uncomfortable echoes of 1930s prewar Germany. His insistence on abject loyalty and taking control of state, independent and cultural institutions to serve his own ends have drawn comparisons to fascist and autocratic regimes. And more than one former Trump adviser has publicly made a Nazi salute – in one case, prompting a French far-right leader to cancel a planned US speech. Read moreWhat parallels do historians see between the Trump administration and the Nazi regime? The United States is also experiencing a surge in hate crime and xenophobic speech. "This rise of authoritarianism just parallels the rise of Hitler,' Eric Podietz, a retired, Philadelphia-based IT consultant who has applied for German citizenship, told NPR. "The squelching of speech and the academic institutions being compromised. The signs are there. It's happening." Podietz's mother fled Germany when she was a child in the late 1930s. Like Sacks, he isn't planning to move, but is increasingly worried by the political rhetoric in the United States that he says harks back to that heard in Germany before his family was forced to flee. At a ceremony held in July 2024 at the German consulate in New York, 82 Holocaust survivors, along with their children and grandchildren, became German citizens. "We've seen an upward trend since 2017, when Donald Trump [first] became president,' David Gill, Germany's then consul general in New York, told the German news program Tagesschau, which covered the event. And the numbers only continue to increase. The New York consulate received 350 applications in 2016 versus 1,500 in 2024, which resulted in 700 naturalizations, according to the German Consulate General NY Instagram account. Streamlined procedure The German constitution granted citizenship to former German citizens who were persecuted by the Nazis and their descendants back in 1949. But for years, difficult legal requirements prevented many applicants from taking advantage. Some were denied German citizenship because their ancestors had adopted another nationality before their German citizenship was officially revoked. Individuals born before April 1, 1953, could only obtain citizenship if they were able to prove that their father had been stripped of German nationality – citizenship having been stripped from the mother was not enough. Germany addressed these problems and others beginning in 2021, significantly simplifying the citizenship process. Anyone applying now can rely on proof obtained on the maternal side, and no longer need to prove they can support themselves financially. Applicants just need to prove that their ancestors were persecuted in Germany between 1933 and 1945, or that they belonged to a targeted group like Jews or Roma, political dissidents or the mentally ill. Although the application process is free of charge, finding old documents to prove family links can be a major hurdle, said Marius Tollenaere, a partner at Frankfurt-based immigration law firm Fragomen, in comments to CNN. The applications must also be submitted in German. Reluctance from some families All four of Scott Mayerowitz's grandparents were forced to flee Germany in the 1930s. He grew up in New Jersey with parents who refused to buy any German-made products or drive a German car. The decision to apply for citizenship from the country that had caused his family so much pain was a weighty one. His mother Susan agreed to gather the necessary documents, albeit reluctantly. 'My parents must be turning over in their graves,' she told CNN. Mayerowitz convinced his mother by pointing out the practical benefits, including the work and educational opportunities the EU could offer his own daughter. 'And finally, I said if for some reason she one day needed to flee the US for persecution, this opened up a lot more doors,' he told the network. Arlington resident Anne Barnett had a similar experience with her mother, who was initially upset that she wanted citizenship from the country that had exterminated so much of her family. She came around eventually, Barnett told CNN. Unfortunately, what convinced her was the increasing anti-Semitism in the United States. Travel writer Erin Levi of Connecticut also made the move to obtain German citizenship after she found her grandfather's US alien ID card, which was stamped '1942' and had Germany as his country of citizenship. Eighty years after the end of World War II, Levi told CNN she feels safer in Germany than in other countries where anti-Semitism is on the rise. 'I think Germany has become such a strong ally and supporter of Israel. It's incredible to see the responsibility they've taken for the atrocities they committed. There aren't that many other countries that have,' she said. Turning the Page Steve North made the decision to apply for German citizenship in 2020 out of fear that Trump would be re-elected. North, a writer for the Jewish Telegraphic Agency, recalled an emotional exchange with former consul general Gill, who handed him his naturalization papers. To his surprise, Gill said that giving him his papers 'feels wonderful, because we Germans get part of our history back', North wrote for the agency. ''It reminds us how much knowledge and wisdom was lost by expelling and murdering the Jews.' Gill went on to describe handing naturalization papers to a 97-year-old woman from Hamburg who said the process gave her closure, and of repatriating a 95-year-old man who told him, 'the Germany of today is a Germany I feel comfortable with'. While North isn't planning on leaving the United States just yet, he is keeping his options open. '[T]he unthinkable happened in a supposedly civilized country in modern times, and it would be foolish to disregard the possibility of history repeating itself here, given the Jew-hatred we constantly see expressed on both the extreme right and left of the American political spectrum,' he wrote.
Yahoo
8 minutes ago
- Yahoo
50 Cent Gloats As Trump Nixes Pardon For 'Half-Innocent' Diddy, For Now
Donald Trump believes Sean 'Diddy' Combs is 'half-innocent' out of his sex-trafficking trial, but there will be no presidential pardon right now for the much-accused Grammy winner. And, just two days after Deadline exclusively reported that Trump was 'seriously considering' such a pardon and the White House played its cards close to the chest, Friday's no pardon stance makes Diddy foe 50 Cent very happy indeed. More from Deadline Sydney Sweeney American Eagle Ad Addressed By Clothing Company Amidst Partisan Uproar In Reaction To Dismal Jobs Report, Donald Trump Says He's Ordered Commissioner Of Labor Statistics To Be Fired Corporation For Public Broadcasting To Shut Down Operations After Loss Of Federal Funding 'Can you believe he thought he was getting pardoned,' the Power franchise EP and pro-Trump rapper posted on social media with an AI generated image late Friday after a still grievance fueled POTUS told Newsmax he wasn't inclined to grant Combs a get outta jail card. 'No Sir, you are not. You said very nasty things.' Yet, Trump being Trump, it could all change on a dime. Sticking it to federal prosecutors sweeping case, the eight-men and four-women jury just found Combs guilty of lesser charges of transportation to engage in prostitution on July 2. Though the U.S. Attorney's office for the Southern District of New York now want self-declared swinger and domestic violence perpetrator Combs to continued to be denied getting out on a $50 million bond and be sentenced to several years behind bars on October 2, the reality is the not guilty decision on the harsh sex trafficking and racketeering conspiracy charges was a serious blow for now fired lead prosecutor Maurene Comey and her team. Part of Trump's public and behind closed door dalliance with a Combs pardon is to stick a knife in the family of ex-FBI Director James Comey. The president also wants to punish what he views as an overreaching and too independent SDNY, sources tell me. Earlier Friday, months after Curtis '50 Cent' Jackson promised he would try to talk Trump out of any Combs pardon, the 'In Da Club' rapper posted a clip from the former Celebrity Apprentice host's sit-down with the fledgling conservative cable newswer where Trump agreed with reporter Rob Finnerty that any pardon for Diddy would 'more likely be a no.' Amidst a clemency campaign from Combs loyalists to the White House and those close to the transactional POTUS and Trump being Trump, the pardon 'no' tonight was qualified. Right after a discussion about a pardon for Jeffrey Epstein's newly cooperative confidant Ghislaine Maxwell, Finnerty asked: 'Sean 'Diddy' Combs. Would you consider pardoning him?' To which, a typically self-centered Trump replied: 'Well, he was essentially, I guess, sort of half innocent. Probably— I was very friendly with him but when I ran for office he was very hostile and it's hard. So, I don't know, it's more difficult.' Espousing ignorance one moment and then intimate knowledge the next about both Maxwell and Combs, Trump was just slightly less inclined towards the latter back in May when he was when asked about a pardon for the now convicted Bad Boy Records founder. 'I would certainly look at the facts if I think somebody was mistreated, whether they like me or don't like me,' Trump said on May 30 in the Oval Office just a couple of weeks after Combs' eventually eight-week long and often horrifically depraved trial began. Since our story on Combs receiving a possible pardon, MAGA media standard-bearers such as Megyn Kelly have pleaded Trump not to give the one-time mogul a pass. 'MAGA is already upset over elites seeming to cover for each other,' the ex-Fox News host said on July 30. 'This would not help. GOP struggling (with) young female voters, most of whom will hate a Diddy pardon,' Kelly exclaimed in a pretty convincing argument that also served as a warning shot to the transactional and media thin skinned Trump Staring at a maximum of 20 years for the prostitution charges he was found guilty of, Combs remains at Brooklyn's Metropolitan Detention Center. Diddy has been at the often criticized facility since his arrest last September in a NYC hotel. Trying to quell a MAGA uprising over the withholding of the promised files on the vile Epstein, who died in custody in 2019, Trump has been letting loose even more of a barrage of distractions that usual to direct attention away from his well-known relationship with convicted and well-connected sex offender Epstein and what the files may say about him. To that, just days after being granted immunity in a two-day conversation with a top DOJ official, the 20-year sentenced Maxwell was suddenly moved out of federal prison in Florida to a low-security prison camp in Texas. Maxwell, Combs …nothing to see here. Best of Deadline 2025 TV Cancellations: Photo Gallery 2025 TV Series Renewals: Photo Gallery 2025-26 Awards Season Calendar: Dates For Emmys, Oscars, Grammys & More
Yahoo
8 minutes ago
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Billionaires Are Buying a Popular AI Index Fund That Could Turn $500 Per Month Into $432,300
Key Points Three prominent billionaire money managers bought shares of the Invesco QQQ Trust in the first quarter. The Invesco QQQ Trust is heavily invested in technology stocks likely to benefit from artificial intelligence. The fund achieved a total return of 1,560% in the last two decades, compounding at 15% annually. 10 stocks we like better than Invesco QQQ Trust › Invest in Gold Priority Gold: Up to $15k in Free Silver + Zero Account Fees on Qualifying Purchase American Hartford Gold: #1 Precious Metals Dealer in the Nation Thor Metals Group: Best Overall Gold IRA The Invesco QQQ Trust (NASDAQ: QQQ) is the fifth-most popular exchange-traded fund (ETF) worldwide as measured by assets under management. Several prominent billionaires added to their positions in the first quarter, as detailed below: Ken Griffin of Citadel Advisors added 2.2 million shares. The Invesco QQQ Trust now ranks as the third-largest position in the hedge fund, excluding options. Israel Englander of Millennium Management added 474,300 shares. The ETF now ranks among the 25 largest positions in the hedge fund, excluding options. Steven Cohen of Point72 Asset Management added 7,950 shares. The ETF remains a relatively small position in the hedge fund. Citadel, Millennium, and Point72 are three of the most profitable hedge funds in history as measured by net gains. That makes all three money managers good sources of inspiration, and individual investors should consider following their lead with this ETF. The Invesco QQQ Trust could turn $500 per month into $432,300 in 20 years. The Invesco QQQ Trust is heavily invested in technology companies likely to benefit from artificial intelligence The Invesco QQQ Trust measures the performance of the Nasdaq-100, an index that tracks the 100 largest nonfinancial companies listed on the Nasdaq Stock Exchange. The ETF has more than 60% of its assets invested in technology stocks, many of which are likely to benefit as the artificial intelligence (AI) revolution continues to unfold. The 10 largest holdings in the Invesco QQQ Trust are listed by weight below: Nvidia: 9.8% Microsoft: 8.7% Apple: 7.2% Amazon: 5.6% Broadcom: 5.3% Alphabet: 5% Meta Platforms: 3.5% Netflix: 2.8% Tesla 2.6% Costco Wholesale: 2.3% AI spending across hardware, software, and services is forecast to grow at 35.9% annually through 2030, according to Grand View Research. Several companies listed above should benefit. Amazon, Microsoft, and Alphabet are the three largest public cloud providers, meaning demand for AI infrastructure should be a tailwind. And Nvidia is the undisputed leader in data center GPUs, the most popular type of AI accelerator. Apple has introduced generative AI capabilities for iPhones. Meta Platforms is leaning on AI to increase user engagement across its social media platforms and improve outcomes for advertisers. Netflix recently started using generative AI to create content for movies and shows. Broadcom is the market leader in AI networking chips and custom AI accelerators, and Tesla recently launched an autonomous ride-hailing service. History says the Invesco QQQ Trust can turn $500 invested monthly into $432,300 in 20 years Excluding dividends, the Invesco QQQ Trust advanced 1,340% during the last two decades, which is equivalent to 14% annually. Including dividends, the index fund achieved a total return of 1,560%, compounding at 15% annually. I will assume a more modest return of 12% annually to introduce a margin of safety. At that pace, $500 invested monthly in the fund would be worth $105,200 in one decade and $432,300 in two decades. Some investors may prefer to save more or less each month, so the chart below shows how different contribution amounts would grow over time, assuming annual returns of 12%. Holding Period $200 Per Month $400 Per Month $600 Per Month 10 Years $42,100 $84,200 $126,300 20 Years $172,900 $345,800 $518,700 Returns were determined using the compound interest calculator. Investors need two more pieces of information. First, the Invesco QQQ Trust has been very volatile in the past due to its heavy exposure to technology stocks. The index fund fell more than 12% from its record high seven times in the last decade. Similar volatility is likely in the future. Second, the ETF has an expense ratio of 0.2%, meaning shareholders will pay $20 per year on every $10,000 invested. Comparatively, the average expense ratio on U.S. index funds and mutual funds was 0.34% in 2024. Should you buy stock in Invesco QQQ Trust right now? Before you buy stock in Invesco QQQ Trust, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Invesco QQQ Trust wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $625,254!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,090,257!* Now, it's worth noting Stock Advisor's total average return is 1,036% — a market-crushing outperformance compared to 181% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 29, 2025 Trevor Jennewine has positions in Amazon, Nvidia, and Tesla. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Costco Wholesale, Meta Platforms, Microsoft, Netflix, Nvidia, and Tesla. The Motley Fool recommends Broadcom and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy. Billionaires Are Buying a Popular AI Index Fund That Could Turn $500 Per Month Into $432,300 was originally published by The Motley Fool 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
