What is the "buy, borrow, die" tax strategy Gavin Newsom wants to ban?
As a proposed billionaire tax in California moves forward, Gov. Newsom says other approaches are needed, including closing a tax loophole used by the ultra-rich.
Income Inequality
Wealth inequality in America just hit its widest gap in 3 decades
Nearly one-third of U.S. household wealth was held by the top 1% in the third quarter of 2025.
California could impose a billionaire tax. Here's how it would work.
Proposed California ballot initiative would impose a one-time 5% tax on billionaires, with the revenue funneled toward health care and education.
Nearly a quarter of households live paycheck to paycheck, report finds
The percentage of Americans just scraping by financially is rising as wage growth slows and inflation flares, Bank of America finds.
You're living in a "K-shaped" economy. Here's how that affects you.
The shape of economic growth this year highlights the widening gap between wealthy Americans and everyone else, economists say.
Pediatrician who helped expose Flint's water crisis now fighting poverty
Dr. Mona Hanna created Rx kids, a program that gives cash to pregnant moms with no strings attached.
Outgoing Ford Foundation president on new book
The new book "The Idea of America" hopes to narrow growing divisions among Americans. Author Darren Walker, outgoing president of the Ford Foundation, joins "The Takeout" to discuss how there is more that unites us than divides us.
Financial burden rises for transportation
America's affordability crisis is getting worse. Average Americans are struggling to afford rent, groceries and transportation. Elise Preston reports on the economic struggle many face to even leave their home.
These are the faces of the affordability crisis in the U.S.
A teacher, a police officer and a senior job seeker share the stress and frustration of trying to stay afloat amid surging costs.
Reporter's Notebook: Tax plan gamble
A new tax proposal backed by President Trump would give the biggest benefits to the top earners, while cutting support for the poor. If the promised growth doesn't come, the most vulnerable will pay the price. "CBS Evening News" co-anchor John Dickerson explains.
Police officer shares struggle to buy first home
Americans are sharing their struggles to make ends meet in CBS News' series, "The Cost of Living." A rookie cop in Connecticut talks about the challenges of buying his first home.
Teacher on $37,000 salary fights to stay afloat
In a recent CBS News poll, two out of three Americans said they're stressed about their own finances, while three out of four said their incomes are not keeping up with inflation. A single mom of three shows what it's like to make ends meet on a teacher's salary of $37,000.
Almost 98% of nation's wealth is owned by top half of Americans
Top households are grabbing a larger share of the nation's wealth, a trend experts say could accelerate due to tax cuts and tariffs, experts say.
Homelessness surged a record 18% in 2024
Homelessness in the U.S. jumped 18.1% this year, hitting a record level, with the dramatic rise driven mostly by a lack of affordable housing and devastating natural disasters, officials say. Lilia Luciano has the story.
The more wealth you have, the happier you get, research finds
Multimillionaires are much happier than the merely well off, suggesting life satisfaction continues to improve the wealthier you are.
Growing divide in Wyoming as billionaires send prices sky-high
Teton County's $108,000 median income is still not enough to afford the $7 million average cost for a home in Jackson Hole.
Here's how much income it takes to be considered rich in your state
The income needed to join your state's top earners can vary considerably, from a low of $329,620 annually in West Virginia to $719,253 in Washington D.C.
Here's how much money you need to be in the 1%
It takes substantially more money to be considered an ultra high net worth individual.
Single women in the U.S. own more homes than single men
American women have pulled ahead of men when it comes to building wealth through homeownership, according to LendingTree.
Young Americans and the economy
38% of Gen Z and millennials say they are having a harder time growing financial wealth compared to their parents at the same age, according to a new survey from Bankrate. Sarah Foster, an analyst at Bankrate, joined CBS News to discuss the findings.
Taraji P. Henson says "the math ain't mathing" on pay equity in entertainment
It's not the first time Henson has spoken out on this topic, revealing that she only made $150,000 for her Academy Award-nominated role in "The Curious Case of Benjamin Button."
How much are houses in big cities?
There is a disconnect in most U.S. markets of how much money people are earning, and how much it would cost to buy a home. CBS MoneyWatch associate managing editor Aimee Picchi joins CBS News with data on how much houses cost in major cities around the country.
Richest 20% now richer than before COVID: Fed
Americans were able to save more money during the pandemic because they were spending less due to lockdown restrictions, but new data from the Federal Reserve shows that excess money has now run out for most people. Alex Tanzi, a senior editor for the U.S. economy team at Bloomberg, joined CBS News to discuss how the rich have gotten richer and everyone else has, at best, what they had before the coronavirus pandemic.
The economy's long, hot, and uncertain summer — CBS News poll
High prices and interest rates are still weighing on personal budgets.
Geography of American poverty: "Internal colonies" where life is short
The most disadvantaged communities around the U.S. are rural and suffer from a history of injustice, a new book finds.
Live
U.S. disables ship for allegedly violating Iran blockade amid Strait of Hormuz feud
For the first time since President Trump reinstated a blockade on Iranian ports, the U.S. military has disabled a ship that allegedly tried to sail to Kharg Island.
Sons say they learned father was killed by ICE through video, news reports
Ronaldo Salgado said he learned his father, 52-year-old Mexican immigrant Lorenzo Salgado Araujo, had been shot by an ICE officer in Houston last week through a video posted online that depicted him "screaming" for help.
Trump to allege Chinese meddling in U.S. elections in primetime speech, sources say
Part of President Trump's speech Thursday night is expected to touch on previously unreported alleged Chinese meddling in U.S. elections, according to sources familiar with the matter.
Hegseth requires testosterone deficiency screening for service members over 30
The Pentagon will now require service members over 30 to screen for testosterone deficiency, and if needed, they can elect to have testosterone replacement therapy.
First on CBS
GPS data tracks boat Nolan Wells was on before he went missing
GPS data from the Mississippi Department of Marine Resources, obtained by CBS News, tracks the movements of the boat that carried Nolan Wells to Horn Island on July 4.
U.S. citizen departs Iran after being barred from leaving for over a year
A U.S.-Iranian woman who was trapped in Iran on allegations of espionage and collaborating with a hostile state that her attorney called "bogus" has departed the country, CBS News learned Wednesday.
Pentagon proposes new secrecy power to withhold unclassified records from FOIA
The legislative proposal would allow the defense secretary to withhold "controlled unclassified information," potentially curbing public access to a wide range of defense records.
Tim Scott doesn't rule out Darline Graham running for her brother Lindsey's Senate seat
With this year's race to succeed Lindsey Graham in the Senate still wide-open, GOP Sen. Tim Scott suggested the late senator's interim replacement — his sister, Darline Graham — could be one candidate.
Trump overturns pause of ICE vehicle stops implemented after deadly shootings
Neither of the victims of the ICE shootings in Maine or Texas were the target of enforcement operations, according to the Department of Homeland Security.
U.S.
More U.S.
U.S. to impose 25% tariffs on Brazilian imports over unfair trade practices
The United States is imposing 25% tariffs on imports from Brazil after finding a range of what it deemed unfair trade practices by the world's 10th-biggest economy.
Sons say they learned father was killed by ICE through video, news reports
Ronaldo Salgado said he learned his father, 52-year-old Mexican immigrant Lorenzo Salgado Araujo, had been shot by an ICE officer in Houston last week through a video posted online that depicted him "screaming" for help.
2 families sue hospital after Colorado man claims he was switched at birth
Two years ago, Jeremy Morrison took a DNA test and found out his parents were not biological actual parents.
Tim Scott doesn't rule out Darline Graham running for her brother Lindsey's Senate seat
With this year's race to succeed Lindsey Graham in the Senate still wide-open, GOP Sen. Tim Scott suggested the late senator's interim replacement — his sister, Darline Graham — could be one candidate.
United Airlines anticipates $6 billion in added fuel costs
U.S. airlines say higher jet fuel prices are costing them billions more than they anticipated at the beginning of the year.
MoneyWatch
More MoneyWatch
U.S. to impose 25% tariffs on Brazilian imports over unfair trade practices
The United States is imposing 25% tariffs on imports from Brazil after finding a range of what it deemed unfair trade practices by the world's 10th-biggest economy.
United Airlines anticipates $6 billion in added fuel costs
U.S. airlines say higher jet fuel prices are costing them billions more than they anticipated at the beginning of the year.
Here's what the Common Cents Act means for businesses, consumers
New law aims to address how businesses and consumers should transact amid the phase-out of the penny.
Subaru recalls more than 541,000 vehicles over labeling error
Erroneous labels on some Subaru Crosstrek, Forester and Ascent cars could increase the risk of a crash, NHTSA said.
U.S. Mint to make $1 gold coin with Trump's face on it
It's the latest effort by President Trump to make his mark on Washington, D.C.
Politics
More Politics
Sons say they learned father was killed by ICE through video, news reports
Ronaldo Salgado said he learned his father, 52-year-old Mexican immigrant Lorenzo Salgado Araujo, had been shot by an ICE officer in Houston last week through a video posted online that depicted him "screaming" for help.
U.S. citizen departs Iran after being barred from leaving for over a year
A U.S.-Iranian woman who was trapped in Iran on allegations of espionage and collaborating with a hostile state that her attorney called "bogus" has departed the country, CBS News learned Wednesday.
Tim Scott doesn't rule out Darline Graham running for her brother Lindsey's Senate seat
With this year's race to succeed Lindsey Graham in the Senate still wide-open, GOP Sen. Tim Scott suggested the late senator's interim replacement — his sister, Darline Graham — could be one candidate.
Pentagon proposes new secrecy power to withhold unclassified records from FOIA
The legislative proposal would allow the defense secretary to withhold "controlled unclassified information," potentially curbing public access to a wide range of defense records.
Trump to allege Chinese meddling in U.S. elections in primetime speech, sources say
Part of President Trump's speech Thursday night is expected to touch on previously unreported alleged Chinese meddling in U.S. elections, according to sources familiar with the matter.
HealthWatch
More HealthWatch
Introducing Norah O'Donnell's new health podcast
"Healthful with Norah O'Donnell" launches July 22.
Alzheimer's blood test may show who's likely to develop it in 5 to 10 years
A blood test may predict if apparently healthy older adults are likely to develop Alzheimer's symptoms in the next five or 10 years, researchers say.
Taco Bell removes some items amid outbreak
As of Tuesday, nearly 7,000 people in 34 states reported symptoms tied to a parasitic illness that, so far, has no official source. Carter Evans reports on what's suspected of being behind the cyclosporiasis outbreak.
Cyclospora outbreak leaves consumers guessing which foods are safe
Officials are still searching for the source of the outbreak, prompting consumers to seek advice on social media about which foods to avoid.
"Miracle on the Hudson" pilot, Capt. "Sully," shares Alzheimer's diagnosis
Capt. Chesley "Sully" Sullenberger, who famously landed a passenger jet on the Hudson River in 2009, said he has been diagnosed with Alzheimer's disease.
World
More World
U.S. to impose 25% tariffs on Brazilian imports over unfair trade practices
The United States is imposing 25% tariffs on imports from Brazil after finding a range of what it deemed unfair trade practices by the world's 10th-biggest economy.
U.S. citizen departs Iran after being barred from leaving for over a year
A U.S.-Iranian woman who was trapped in Iran on allegations of espionage and collaborating with a hostile state that her attorney called "bogus" has departed the country, CBS News learned Wednesday.
Argentina rallies past bitter rival England to book spot in World Cup final
Defending World Cup champion Argentina rallied to edge England 2-1 to advance to Sunday's final at MetLife Stadium, where they will face Spain.
House vote to end Israel aid divides Democrats, with 103 voting in favor
The amendment, which had no chance of passing, put Democrats in a politically tough spot
Exclusive
Senior defense officials looking at Cuba military options
Military planners have examined options for possible action against Cuba, including an Army-led air assault involving the 101st Airborne Division.
Entertainment
More Entertainment
Entertainment
Behind the "Better in Person" talk show
Author and journalist Stephen Dubner, who rose to fame when he co-wrote The New York Times bestseller "Freakonomics," talks with "CBS Mornings" about launching his own weekly talk show on YouTube, "Better in Person." Dubner discusses how the show got its start, his wide range of guests and why he decided to self-finance it.
Insider at "The Wolf of Wall Street" firm opens up: "My lifestyle was insane"
The Paramount+ documentary "The Real Wolf of Wall Street" gives an inside look at Jordan Belfort's scandal-ridden firm, Stratton Oakmont.
Gelfand on "The Real Wolf of Wall Street"
"The Real Wolf of Wall Street," a new documentary from See It Now Studios on Paramount+, focuses on the real-life story of infamous stockbroker Jordan Belfort and his brokerage firm Stratton Oakmont. Howie Gelfand, a former partner at Stratton Oakmont, explains why he decided to be part of the documentary and how the 2013 film, "The Wolf of Wall Street," starring Leonardo DiCaprio, got the real story wrong.
Alan Ritchson on thriller "Motor City"
Alan Ritchson talks about starring in "Motor City," which has nearly no dialogue, how his process was different and why he thinks it will resonate with audiences.
States sue to block Paramount-WBD merger
A coalition of a dozen states on Monday sued to block Paramount Skydance's acquisition of Warner Bros. Discovery, posing a new challenge to the $110 billion deal that would unite two of the nation's largest media companies. Paramount Skydance is the parent company of CBS News. CBS News' Jo Ling Kent reports.
Technology
More Technology
Technology
Samsung set to unveil new foldable phones
Tech giant Samsung is set to debut a new line of foldable phones at its Galaxy Unpacked event next week. CNET senior technology reporter Abrar Al-Heeti joins CBS News to discuss.
Details on New York data center moratorium
New York has become the first state in the U.S. to impose a moratorium on the construction of massive AI data centers. The pause takes effect immediately and halts the construction of new data centers for up to a year. Paris Marx, a technology podcast host, joins CBS News to discuss.
How AI powered robots are helping small farms
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Backlash grows nationwide over data centers
There's growing backlash nationwide against AI data centers and now New York is hitting pause. Gov. Kathy Hochul signed an executive order to delay the building boom. Kelly O'Grady has more.
26 Meta workers sue over alleged AI-aided layoffs of employees on leave
A group of 26 Meta employees has sued the company, claiming it used AI to choose people for layoffs, disproportionately targeting those on medical, parental or family leave.
Science
More Science
Russian Soyuz rocket launches fresh crew to space station
The new crew will replace three other Soyuz fliers wrapping up a 240-day stay aboard the International Space Station.
Astronomer's name deciphered from ancient Mayan ruins for first time
The name "White-chested Fox" was found in drawings dating from 400 BC to 900 AD at the San Bartolo-Xultun archaeological site.
Disclosure Foundation head on new UFO files
The Pentagon on Friday released a new batch of UFO files, spanning 19 videos and more. Jordan Flowers, executive director of the Disclosure Foundation, joins CBS News to discuss.
Watch: Pentagon releases 19 new UFO videos
The Defense Department released a fourth batch of UFO files on Friday, nearly one month after its third drop. These are all of the videos in the latest tranche, plus analysis from astrophysicist Avi Loeb.
2,000-year-old gold rings and human bones found by archaeologists
Archaeologists have discovered eight human skeletons, bronze and gold jewelry and other artifacts indicating a ceremonial burial of wealthy people.
Crime
More Crime
Crime
Biddeford, Maine, mayor on ICE shooting
Liam LaFountain, mayor of Biddeford, Maine, joins "The Daily Report" to discuss his town's response to Monday's incident where an ICE officer shot and killed a man.
Nolan Wells' family meets with Mississippi DA
The parents of Nolan Wells and their legal team received assurances from the Mississippi district attorney on Wednesday that the investigation into the teenager's death would be thorough. Skyler Henry has more details on the case.
New GPS data in Nolan Wells' disappearance
CBS News has obtained GPS data showing the movements of the boat that carried Nolan Wells before he disappeared on the Fourth of July. Wells was found dead on July 6. CBS News' Anna Schecter has more.
Key moments from Jay Clayton's hearing
President Trump's nominee for director of national intelligence, Jay Clayton, testified before a Senate panel as part of his confirmation process. Taurean Small shares key takeaways from the hearing.
Booker grills Blanche about Ghislaine Maxwell
New Jersey Democratic Sen. Corey Booker grilled Acting Attorney General Todd Blanche about his meeting with Jeffrey Epstein ally and convicted criminal Ghislaine Maxwell during a Senate panel hearing on Capitol Hill on Wednesday. Booker also pressed Blanche about attending a dinner hosted by David Ellison, the CEO of Paramount Skydance, as a Paramount-Warner Bros. Discovery merger bid continues. CBS News is owned by Paramount Skydance.
Space
More Space
Russian Soyuz rocket launches fresh crew to space station
The new crew will replace three other Soyuz fliers wrapping up a 240-day stay aboard the International Space Station.
Astronomers discover sugar in space that's also found in raspberries
The sugar, called erythrulose, lurks in what's called the interstellar medium: thin clouds of gas and dust littered between stars.
Telescope spots most distant quasars ever discovered
Quasars — the brightest objects in the universe — are powered by supermassive black holes at the heart of early galaxies.
Mission launched to rescue a falling space telescope
Katalyst Space's LINK spacecraft is designed to capture and boost NASA's Swift observatory back to a safe altitude.
NASA astronauts operate on space station's broken robot arm
The orbital surgery on the International Space Station returned the Canadian-built robot arm to full health after its "wrist" joint failed last month.
Latest Galleries
More Latest Galleries
Notable Deaths in 2026
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Photos show celebrations at Obama Presidential Center
The Obama Presidential Center, museum and library opens in Chicago with a star-studded grand opening ceremony and public watch party on Midway Plaisance.
Summer music highlights of 2026
Summer is the time to enjoy live music, indoors and out. Scroll through our gallery of some of 2026's leading musical acts, featuring images by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
Evidence in the Barbara Kendhammer case
Does the evidence show a cover-up, or was Todd Kendhammer wrongfully convicted for the murder of his wife?
Timeline: The disappearance of George Smith
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Latest CBS News Videos
More Latest CBS News Videos
Latest CBS News Videos
Deciphering letters from Revolutionary War soldiers
Americans are putting their cursive reading skills to work in service of their country. "Citizen archivists" are helping the National Archives transcribe some 2.5 million pages of handwritten Revolutionary War pension files. Natalie Brand reports.
Argentina fans rejoice after England defeat
Argentina will have a chance to defend its World Cup title after defeating England 2-1 in the semifinal. This is the second time in a row Argentina has reached the final. CBS News' Elizabeth Campbell reports on the excitement from fans.
Retired Navy vice admiral on latest Iran strikes
U.S. Central Command confirmed it began a second wave of strikes against Iran on Wednesday, following a round of attacks earlier in the day. Retired Navy Vice Adm. Robert Murrett joins CBS News to discuss.
Inside a recycling firm for electronic waste
As the technological revolution kicks into overdrive, the world is generating more electronic waste. One company is trying to reboot how we recycle our old tech. Evyn Moon takes us inside the process.
National blood emergency declared
The American Red Cross is announcing a national blood emergency with officials warning that hospitals are in dire need of blood products for emergencies and surgeries. Gwen Baumgardner has more.