Apr 23, 2021
How climate change could hit the global economy
Rising temperatures, higher sea levels, falling crop yields and wildfires are also likely to reduce global wealth significantly by 2050.
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A new report from Swiss Re, one of the largest insurance companies in the world, contains dire warnings about climate change and how rising temperatures, higher seas, falling crop yields, and wildfires are also likely to cut into global wealth significantly within 30 years. Plus, more details on President Biden's expected proposal to increase taxes on the wealthy. And, a Republican proposal on infrastructure spending.
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Segments From this episode
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Biden's plans for capital gains tax hikes should not come as a surprise
As Christopher Low, chief economist at FHN Financial, explains, investors have been talking about this possibility for months, and those with very high incomes have already started making portfolio adjustments and rotating stock holdings as a result. That rotation means they’ve sold off stocks to capture the profit and then bought similar holdings. “They took those gains last year, because not only did they expect the capital gains tax increase, they thought it would be retroactive to Jan. 1,” Low said. “So, no, nobody should be surprised by this.”
Republicans unveil counteroffer to Biden's infrastructure plan that comes with a price tag of $568 billion
Marketplace’s Nova Safo has more.
Music from the episode
North Wing Shingo Sekiguchi
The team
David Brancaccio
Host
Victoria Craig
Host, BBC
Stephen Ryan
Senior Producer, BBC
Jonathan Frewin
Producer, BBC
Daniel Shin
Producer
Jay Siebold
Technical Director
Meredith Garretson Morbey
Senior Producer
Alex Schroeder
Producer
Erika Soderstrom
Producer
Rose Conlon
Producer
Brian Allison
Technical Director
