What's Next: Disney aims to have 230 million to 260 million Disney+ subscribers by the end of 2024. It plans to keep expanding to new markets this year, hosting a Disney+ Day on Nov. 12 with new content releases on streaming such as its hit movie Shang-Chi and the Legend of the Ten Rings.
-- Nicholas Jasinski and Janet H. Cho
***
The Democrats' tax proposal takes aim at IRA rules that have benefited wealthy investors such as Peter Thiel -- but could it have unintended negative consequences for less well-off IRA investors?
Months after a story broke detailing the $5 billion that could come out of Peter Thiel's retirement account tax-free, new tax proposals are aiming to put a stop to the practice of very wealthy investors taking advantage of favorable tax laws on IRA accounts.
The changes offered by Congressional Democrats on the Ways and Means Committee would require superrich households to tap some of their money and end their ability to switch to accounts with tax-free distributions.
The proposal would also block individual retirement accounts from certain types of investments that are usually reserved for more sophisticated investors, including stakes in private business or real estate deals.
To hold on to the IRA's tax advantages, anyone who already holds these types of investments faces a two-year window get them out of the account, the proposal says. In its current wording, the proposal doesn't specify whether the rules restricting these types of investments would only apply to people above a certain income threshold.
Read more here.
-- Andrew Keshner
***
-- Newsletter edited by Liz Moyer, Mary Romano, Camilla Imperiali, Steve Goldstein, Rupert Steiner