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Here’s how wealthy families will save on estate taxes in the Biden presidency

Finance
Democratic candidates for Senate Jon Ossoff (L), Raphael Warnock (C) and US President-elect Joe Biden (R) bump elbows on stage during a rally outside Center Parc Stadium in Atlanta, Georgia, on January 4, 2021.Jim Watson | AFP | Getty ImagesWealthy Americans worried about the prospect of higher estate and gift taxes might have more time to come up with a strategy.With Jon Ossoff and Raphael Warnock both winning their Senate runoff elections in Georgia, the Democrats now have control — albeit precarious — of the Senate.That will help President-elect Joe Biden push his legislative agenda, and higher taxes are expected to be a major part of his plansThe estate tax could be a prime target for Democrats.Biden has repeatedly suggested that wealthy Americans are not paying their "fair share" of t...
Trump accepts US presidency transition to Biden must begin

Trump accepts US presidency transition to Biden must begin

World
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How seniors and their money would fare under a Trump or Biden presidency

Finance
A supporter of Donald Trump drives by the Joe Biden rally in the golf cart during President Donald Trump's campaign stop at The Villages Polo Club on October 23, 2020 in The Villages, Florida.Octavio Jones | Getty Images News | Getty ImagesIt goes without saying that the outcome of the presidential election will have an impact on all Americans.That's especially true for seniors, those ages 65 and up, who may see key issues affecting them change based on who occupies the White House.Both President Donald Trump and Democratic presidential nominee Joe Biden are campaigning hard for the support of that demographic.For evidence, look no further than Florida, where both have made multiple campaign stops.Biden visited Tampa on Thursday. Among those in the crowd was Ione Townsend, 70, of Plant Cit...

Medicare coverage could expand under a Biden presidency

Finance
Democratic presidential candidate Joe Biden speaks at a June 25 campaign event in Lancaster, Pennsylvania.Mark Makela | ReutersHealth insurance for the nation's older population could undergo some changes if Joe Biden wins the presidential election in November.The Democrat nominee wants to expand both Medicare coverage and eligibility for the program, as well as ease costs for prescription drugs. At the same time, however, there are challenges at play.For starters, Medicare funding is under pressure due to reduced revenue coming in during the pandemic-induced economic downturn. Basically, the trust fund that supports Medicare Part A (hospital coverage) could be insolvent — i.e., its revenue would not be enough to cover expenses — several years earlier than 2026 as last projected, experts s...
US election 2020: Kanye West launches unconventional bid for presidency

US election 2020: Kanye West launches unconventional bid for presidency

Entertainment
Kanye West has officially launched his campaign for the 2020 US presidential election, with an unorthodox rally in Charleston, South Carolina. West, 43, is running as a candidate for his self-styled "Birthday Party".At the event, the rapper seemed to make policy decisions off-the-cuff and made several rants, including on abortion and on abolitionist Harriet Tubman.Fans have questioned whether his last-minute bid for the White House is actually a promotional stunt.The Charleston rally did little to clarify whether his run is genuine. But a now-deleted tweet sent from West's account on Saturday, appearing to show the song list for a new album, added to the speculation.The event, held at a wedding and conference hall in the city, wa...