He would have faced standard federal income tax on that gain plus another tax known as the net investment income tax, a Medicare tax substitute for rich investors. Let’s assume MacKenzie faced a mere 2.5 percent annual tax — more below on the rationale for that figure — on her gains. Our current federal tax system lets him wait until he sells his Amazon shares before he faces any legal obligation to pay tax. Which means that a big part of Bezos’ eventual $49.3 billion tax payment doesn’t really rate at all as a tax in a true economic sense. The 22.7 percent annual income tax rate that taxpayer faces runs over nine times the effective tax rate that an insanely wealthy character like Jeff Bezos faces.

February 25, 2026 18:47 UTC

This record store is a safe haven, even as it struggles to keep the lights onShare via Close extra sharing options Email Facebook X LinkedIn Threads Reddit WhatsApp Copy Link URL Copied! PrintThe San Fernando Valley is on the brink of losing a record store that has been central to the region’s fight against immigration enforcement. On its surface, The Midnight Hour is a record store, its rows lined with hundreds of vinyls collected from around the world. But to the north San Fernando Valley, it has been a community lifeline and gathering spot since it first opened during the pandemic. And since the ICE crackdown began last summer, it has become a safe haven for the city’s immigrant population and the go-to headquarters for the resistance.

February 25, 2026 18:34 UTC

Chairman of the Joint Chiefs of Staff Dan Caine speaks during a press conference with President Donald Trump at the Mar-a-Lago club in Palm Beach, on January 3. President Donald Trump addresses senior military officers gathered at Marine Corps Base Quantico in Quantico, Virginia, on September 30, 2025. That is how most previous chairmen have received their fourth star, before being elevated to the role of the US’ most senior military officer. “I want to thank General “Raizin” Caine,” Trump said at the press conference. General Dan Caine arrives for a classified briefing for all senators, regarding the situation in Venezuela, on Capitol Hill, on December 16, 2025.

February 25, 2026 18:33 UTC

Democrats Gavin Newsom, center, and Kamala Harris, left, have run on parallel tracks throughout their political careers, but have never faced off against each other. While she served in the White House, Newsom tried any number of ways to insinuate himself into the national spotlight. So it’s not as though Harris and Newsom would face each other in a one-on-one fight. Those who know them well, having observed Newsom and Harris up close, cite other strengths and weaknesses. “She had her shot,” said another, channeling the perceived way Democratic primary voters would react to another Harris run.

February 25, 2026 18:31 UTC

President Trump headed into Tuesday night’s State of the Union speech projecting confidence in his personal power to “Make America Great Again,” despite the woes he says he’s been saddled with by his Democratic predecessors. Advertisement“This is what ‘America first’ looks like,” said Paul Dans, former head of the conservative Project 2025 playbook, which Trump has largely adopted. “I don’t think the country sees Trump as the solution to anything at this point.”At the same time, however, Trump is not acting like other weakened presidents, Shrum noted. Republicans in Congress broke with the president and joined Democrats to pass a bill requiring the records’ release last year. Dans said people standing in Trump’s way, including in Congress, need to clear out, because they’re “flouting” the will of the electorate.

February 25, 2026 18:31 UTC

One of his party’s favorite topics to spout falsehoods about came up halfway through his speech: health care for transgender kids. Trump denounced gender-affirming care for transgender minors and claimed blue states are encouraging kids to transition their gender without parental consent. Most are then forced out of the country within days, leaving their children and family members completely unaware that they were taken. Of the 2,700 children who were separated from their parents under the first Trump administration, more than 1,300 have still not been reunited with their parents, according to a 2024 government report. Legal advocacy groups Democracy Forward and National Center for Youth Law recently filed a federal lawsuit against the Trump administration to stop separating kids from their family sponsors.

February 25, 2026 18:22 UTC

Braves.TV might offer more than the games, though I’m not sure it’s going to have an impact on the price. I’m not sure anything else, might, either. Though, the Braves might try to capture some revenue by bumping it up and hoping demand for the upcoming season isn’t particular elastic for folks that cut the cord but are in-market. I don’t think an introductory, lower promotional offer is in the cards, either, but who knows.

February 25, 2026 18:11 UTC

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February 25, 2026 17:58 UTC

Jack Daniel’s Master Distiller Chris Fletcher has been named Master Distiller/Master Blender of the Year at Whisky Magazine’s 2026 Icons of Whisky and World Whiskies Awards America. Winners of the World Whiskies Awards Americas will advance next month to compete against global competitors at the World Whiskies Awards. Fletcher serves as Vice President, Master Distiller and Director of Distillery Operations at the Jack Daniel Distillery. A native of Lynchburg, Tenn., Fletcher grew up learning about production from his grandfather and late Master Distiller Frank Bobo. The expression marked the first time since the early- to mid-1900s that Jack Daniel’s had offered a whiskey at this age.

February 25, 2026 17:46 UTC

According to the child, CBP agents shouted, cursed, and threatened the child with a dog and a stun gun. The injunction was later extended by U.S. District Judge Timothy Kelly, a Trump appointee who found that the administration’s claims about the deportations fell apart on closer examination. As you know by now, vindictive prosecution claims are notoriously hard to win. Mass Deportation WatchThe Trump DOJ sued to overturn New Jersey Gov. In his order dismissing the indictment, the judge additionally noted that the Trump DOJ “failed to comply with the ordered briefing deadline” on the motion to dismiss.

February 25, 2026 17:46 UTC

The United States, President Trump said Tuesday night, is "bigger, better, richer and stronger than ever." "We are the hottest country anywhere in the world," Trump said in his State of the Union address. Advertisement Advertisement"We just heard Donald Trump do what he does best: lie," Padilla said. President Trump gives his State of the Union address to a joint session of Congress at the Capitol in Washington. (J. Scott Applewhite / Associated Press)“The truth is that the State of our Union does not feel strong for everyone," Padilla said.

February 25, 2026 17:46 UTC

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February 25, 2026 17:29 UTC

Defend Truth. Defend Democracy. With the administration challenging the Court and Congress, independent reporting is the only thing standing between you and the noise. Your membership funds the courage to ask the hard questions. Don't let the truth be sidelined, join HuffAlready a member?

February 25, 2026 17:22 UTC

The dining room at Supper Club Cocktail Lounge, which opens on Congress Street Saturday. (Courtesy of Supper Club Cocktail Lounge)Bar and restaurant Supper Club Cocktail Lounge is slated to launch Saturday on Congress Street in the former space of Guitar Grave. House manager Zakk Nix said Supper Club’s opening team did much of the renovation work themselves, which stretched on longer than they anticipated, accounting for the delay in launching. Co-owner Jake Bosma is taking the lead at Supper Club, though he is partnered with Isaac MacDougal, Brecken MacDougal and Zach Myers. Supper Club’s bar cocktail-forward program includes six wines by the glass, a few beers and a selection of creative yet approachable mixed drinks.

February 25, 2026 17:16 UTC

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February 25, 2026 17:02 UTC