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.
Taxes on Trump's $1.4 billion crypto income could total hundreds of millions
The White House declined to say how much the president paid in taxes on his crypto windfall.
Olympian David Hearn charged with destruction of property at Reflecting Pool
David Hearn is accused of ripping out a piece of sealant on the bottom of the Reflecting Pool on June 19, U.S. Attorney Jeanine Pirro said.
Live
U.S.-Iran talks pause for ayatollah's funeral after claims of progress
Negotiations between Iran and the U.S. will pause for a week for the funeral of Iran's slain supreme leader, but Trump, and mediators, say there's been progress.
McConnell still hospitalized after EMS responded to his home last month
A spokesperson said the Kentucky Republican "continues to improve."
Former CDC official: RFK Jr.'s response to measles "not based on science"
Dr. Debra Houry, who resigned in protest from the health agency, said the spread of misinformation impacted lives.
Maps show this July 4th could be hottest ever in parts of U.S.
Extremely dangerous heat, coupled with humidity, could result in heat index readings of 100 to 115 degrees from the Midwest to the East Coast, forecasters said.
Celeb planners on how MSG could become Taylor Swift's perfect wedding venue
Two elite event designers shared their thoughts on how Taylor Swift's team might transform Madison Square Garden.
Kennedy Center selling $25,000 ticket package to watch D.C. July 4th fireworks
The Washington, D.C., fireworks show, which is sponsored by the Trump-backed organization Freedom 250, is not slated to begin until 10:30 p.m. or 11 p.m.
Investigation
What a Brooklyn bodega reveals about the craze for an experimental weight-loss drug
It isn't approved by the FDA, but we found an experimental weight-loss drug called retatrutide for sale at a local convenience store.
U.S.
More U.S.
McConnell still hospitalized after EMS responded to his home last month
A spokesperson said the Kentucky Republican "continues to improve."
This week on "Sunday Morning" (July 5)
A look at the features for this week's broadcast of the Emmy-winning program, hosted by Jane Pauley.
Spotify removes streams of No. 1 song after suspicious Kalshi bets
Spotify said the streams tied to Malcolm Todd's "Earrings" were not from genuine listeners after suspicious betting activity emerged on Kalshi.
Kennedy Center selling $25,000 ticket package to watch D.C. July 4th fireworks
The Washington, D.C., fireworks show, which is sponsored by the Trump-backed organization Freedom 250, is not slated to begin until 10:30 p.m. or 11 p.m.
Taylor Swift and Travis Kelce donate $26 million ahead of wedding
Taylor Swift and Travis Kelce donated to 20 local and national charities ahead of their wedding Friday.
MoneyWatch
More MoneyWatch
Spotify removes streams of No. 1 song after suspicious Kalshi bets
Spotify said the streams tied to Malcolm Todd's "Earrings" were not from genuine listeners after suspicious betting activity emerged on Kalshi.
Taxes on Trump's $1.4 billion crypto income could total hundreds of millions
The White House declined to say how much President Trump paid in taxes on his crypto windfall.
StubHub accused of failing to deliver pricey World Cup tickets
Ticket reseller StubHub abruptly canceled customers' tickets to World Cup matches, costing them thousands of dollars, a lawsuit alleges.
Employers added 57,000 jobs in June, far below forecasts
June's payroll gains were much lower than the 100,000 new hires that economists had predicted.
Trump Accounts launch July 4. Here's how they work.
People can begin depositing money in the new tax-deferred investment accounts on Saturday, with eligible children receiving a $1,000 government contribution.
Politics
More Politics
Former CDC official: RFK Jr.'s response to measles "not based on science"
Dr. Debra Houry, who resigned in protest from the health agency, said the spread of misinformation impacted lives.
McConnell still hospitalized after EMS responded to his home last month
A spokesperson said the Kentucky Republican "continues to improve."
Kennedy Center selling $25,000 ticket package to watch D.C. July 4th fireworks
The Washington, D.C., fireworks show, which is sponsored by the Trump-backed organization Freedom 250, is not slated to begin until 10:30 p.m. or 11 p.m.
Olympian David Hearn charged with destruction of property at Reflecting Pool
David Hearn is accused of ripping out a piece of sealant on the bottom of the Reflecting Pool on June 19, U.S. Attorney Jeanine Pirro said.
FBI orders field offices to send analysts to Atlanta for election probe
The FBI is asking for analysts to help evaluate thousands of records for a "priority" investigation ordered by FBI Director Kash Patel.
HealthWatch
More HealthWatch
Why tick season is expected to be worse than normal
The CDC is reporting the highest rate of emergency room visits from tick bites since 2017 in many parts of the U.S.
Investigation
What a Brooklyn bodega reveals about the craze for an experimental weight-loss drug
It isn't approved by the FDA, but we found an experimental weight-loss drug called retatrutide for sale at a local convenience store.
Actor Danny Glover reveals Alzheimer's diagnosis
Actor Danny Glover spoke about his Alzheimer's diagnosis in an interview with NBC's "Today" show, revealing that he has been living with the disease for several years.
Medicare to help pay for some GLP-1 drugs
Starting Wednesday, Medicare will help pay for some GLP-1 medications for weight loss. CBS News medical correspondent Dr. Celine Gounder explains what this means for patients.
New disease threats follow Trump administration's health program cuts
From screwworm to flesh-eating bacteria, mounting public health risks are emerging in the wake of deep cuts to federal health agencies and programs.
World
More World
Man who sold land for Kushner-backed Albania resort facing criminal probe
A man who sold land for a controversial, Jared Kushner-backed luxury development in Albania is suspected of money laundering and drug trafficking.
Security guard rescued from rubble 8 days after Venezuela earthquakes
Hernan Gil was brought out on a stretcher as elated rescuers cheered and hugged each other. He was loaded into a waiting ambulance and driven away.
Catholic Church excommunicates 6 bishops from ultra-conservative society
The Vatican says bishops from the ultra-conservative Catholic SSPX society were automatically excommunicated after ignoring Pope Leo's plea for unity.
"Once-in-a-generation" expedition launched to survey 2 legendary shipwrecks
Researchers will travel to the bottom of the North Atlantic to survey two legendary shipwrecks, once tied to a pair of iconic 19th-century polar explorers.
Live
U.S.-Iran talks pause for ayatollah's funeral after claims of progress
Negotiations between Iran and the U.S. will pause for a week for the funeral of Iran's slain supreme leader, but President Trump, and mediators, say there's been progress.
Entertainment
More Entertainment
Taylor Swift and Travis Kelce donate $26 million ahead of wedding
Taylor Swift and Travis Kelce donated to 20 local and national charities ahead of their wedding Friday.
StubHub accused of failing to deliver pricey World Cup tickets
Ticket reseller StubHub abruptly canceled customers' tickets to World Cup matches, costing them thousands of dollars, a lawsuit alleges.
Celeb planners on how MSG could become Taylor Swift's perfect wedding venue
Two elite event designers shared their thoughts on how Taylor Swift's team might transform Madison Square Garden.
Details on Taylor Swift-Travis Kelce wedding
Fans around the world are preparing for Taylor Swift and Travis Kelce's wedding. Here's what to know before what some are calling the wedding of the century. CBS News' Jo Ling Kent reports.
CBS News journalists on Swift-Kelce wedding
Rumors are swirling about Taylor Swift and Travis Kelce tying the knot at Madison Square Garden. CBS News' Olivia Rinaldi and Gabrielle Ake, self-described Swifties, join "The Takeout" with the latest.
Technology
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Technology
Why U.S. initially restricted Anthropic AI models
The Trump administration has lifted export restrictions on Anthropic's most advanced artificial intelligence models, Fable and Mythos, after weeks of negotiations over national security concerns. CNET Editor-in-Chief David Katzmaier joins to discuss.
White House lifted AI limits, Anthropic says
Tech giant Anthropic says that the federal government has now removed restrictions from its robust Claude Fable 5 and Mythos 5 models. Axios reporter Madison Mills has more on artificial intelligence regulation.
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.
Sony to stop making physical discs for PlayStation starting in 2028
After January 2028, new games will be available exclusively in digital format from the PlayStation Store and at retailers, Sony said.
Consumers need protection from AI agents, lawmaker says
Sen. Mark Warner wants to create a federal registry of trusted AI agents and ensure autonomous bots operate like fiduciaries.
Science
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Science
New White House UFO panel chair speaks out
The White House appointed former Harvard University astronomer Avi Loeb to lead its new panel on Unidentified Anomalous Phenomena, also known as UAPs and UFOs. Loeb shares his enthusiasm for his new role.
NASA strives to save doomed telescope
NASA is in a race against time as the Swift Observatory telescope in orbit sinks closer to Earth. CBS News consultant William Harwood explains the $30 million salvage operation.
Fossil found in drawer turns out to be first dinosaur bone from Antarctica
Dinosaur fossils are rare to find in Antarctica because of the unforgiving ice caps. But millions of years ago, the region was populated by lush forests.
NASA prepares to launch rescue to save telescope from falling to Earth
The $30 million salvage operation gets underway as soon as this week with the planned launch of a robotic lifesaver.
Astronomers find 2 gigantic planets lighter than cotton candy
The featherweight pair — orbiting a star 1,110 light-years away — are the biggest exoplanets found to have less density than cotton candy.
Crime
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Crime
Olympian charged over alleged D.C. vandalism
U.S. Olympian David Hearn is facing a felony charge after being accused of vandalizing the Lincoln Memorial Reflecting Pool. CBS News senior Justice Department reporter Sarah Lynch has the details.
Man charged over Reflecting Pool vandalism
Former U.S. Olympian David Hearn was indicted on Thursday on a felony charge for allegedly tearing up roughly two feet of the Lincoln Memorial Reflecting Pool last month, amid the algae blooms and political mudslinging around the president's $16 million renovation. Nicole Sganga reports.
Friend on the Empire State Building climbers
The couple that scaled the Empire State Building made a court appearance on Thursday, facing charges of reckless endangerment, criminal mischief, burglary and base jumping. Anna Martinez, one of their close friends, joins CBS News to discuss.
FBI investigating legitimacy of Nancy Guthrie ransom notes
The FBI said in a statement Wednesday that some ransom notes in Nancy Guthrie's disappearance have been "deemed to be extortion attempts without legitimacy," and other "demands may potentially be legitimate and are still being investigated as such."
NYC building climbers engaged, under arrest
Two people in black masks scaled the Empire State Building, scrambling the New York City Police Department. They call themselves "roof-toppers," or stunt climbers, and they unfurled a banner about world peace before one of them got out a ring and proposed. By the time they got down, they were engaged and under arrest. Tom Hanson reports.
Space
More Space
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.
NASA prepares to launch rescue to save telescope from falling to Earth
The $30 million salvage operation gets underway as soon as this week with the planned launch of a robotic lifesaver.
Astronomers find 2 gigantic planets lighter than cotton candy
The featherweight pair — orbiting a star 1,110 light-years away — are the biggest exoplanets found to have less density than cotton candy.
Telescope snaps most detailed photo yet of Milky Way's heart
Euclid is on a mission to chart one-third of the sky in the hopes of shedding light on the enduring mysteries of dark matter and dark energy.
Interstellar comet may be oldest object ever seen in solar system
Exactly where the comet 3I/ATLAS came from within the Milky Way remains a mystery.
Latest Galleries
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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.
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.
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.
Timeline: The disappearance of George Smith
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Who is Alix Tichelman?
Meet the tattooed beauty charged in the death of Google executive Forrest Hayes.
Latest CBS News Videos
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Latest CBS News Videos
6/27: CBS Weekend News
High winds and heat are fueling Utah's out-of-control wildfires; Iranian drones target Bahrain after U.S. strikes Iran.
CPA examines Trump's $1.4 billion crypto income
President Trump's recent financial disclosure showed he made $1.4 billion off his cryptocurrency ventures in 2025. Shehan Chandrasekera, CPA and head of tax strategy at CoinTracker, joins with analysis.
Olympian charged over alleged D.C. vandalism
U.S. Olympian David Hearn is facing a felony charge after being accused of vandalizing the Lincoln Memorial Reflecting Pool. CBS News senior Justice Department reporter Sarah Lynch has the details.
Rescue workers save man from Venezuela rubble
Search-and-rescue teams have not given up in Venezuela, more than a week after the double earthquakes. On Thursday, a man was pulled out alive after being fed for days through a syringe, the only way to reach him through the rubble. Camilo Montoya-Galvez has the details.
Man charged over Reflecting Pool vandalism
Former U.S. Olympian David Hearn was indicted on Thursday on a felony charge for allegedly tearing up roughly two feet of the Lincoln Memorial Reflecting Pool last month, amid the algae blooms and political mudslinging around the president's $16 million renovation. Nicole Sganga reports.