Rhode Island plans to impose a ‘Taylor Swift tax’ on second homes

Rockefeller heir Rebekah Harkness served as inspiration for Taylor Swift

In 2020, Taylor Swift wrote a song that highlighted her similarities to Rebekah Harkness, the former owner of Swift's Rhode Island beach house. Harkness filled the Rhode Island home's pool with champagne, courtesy of her late husband, a Standard Oil heir.

Certain home renovations, such as installing an in-ground pool, could increase your property taxes

Significant home improvement projects like adding another bathroom or an addition might raise your tax bill if they significantly increase the value of your home. The amount your tax bill could increase by depends on how tax assessment procedures work in the home’s location, as they vary by locality.

The Eras Tour generated $2B in ticket sales, but $5B in consumer spending

Taylor Swift has achieved such high-profile status, her music and tours influence a broad swath of industries, communities, and economies. “Swiftonomics” is the term used to describe how Taylor’s tours, merchandise sales, and brand boost everything from local business receipts to tourism in a community.

Taylor Swift's Eras tour was the first tour ever to gross over $1B, and caused the Federal Reserve to acknowledge its impact on regional economies.

See the annual income required to purchase a typical three-bedroom home in each state as of 2025, based on a 10% down payment, a 6.65% interest rate on a 30-year fixed mortgage, and a 30% income-to-housing cost threshold.

Taylor Swift owns more than 300 trademarks—a strategic way she protects her brand

Taylor Swift holds trademarks ranging from her album titles and song lyrics to the names of her cats. While the sheer amount of trademarks may seem excessive, it's one way Taylor Swift can protect the integrity of her brand and make sure everything that's branded as Taylor Swift actually comes from her.

Watch this video to find out how Taylor Swift became a billionaire from her musical empire.

Read why some states are considering imposing a flat tax rate that isn't adjusted by income

Wisconsin was the first US state to impose a state income tax, close in time to when the federal income tax went into effect. Many states followed suit, but nine states to this day still don't levy wage-related taxes.

How the wealthy are preparing for an estate tax clip

In 2017, the federal government passed a tax bill that raised the estate tax threshold for individuals and married couples. However, this exemption was temporary and is set to expire at the end of 2025. This Bloomberg Tax podcast episode explains what wealthy individuals are doing to protect their estates before the tax change. Listen here.

If the estate tax is repealed, more expensive alternatives might come in its place

The federal estate tax has been up for political debate for decades. Many want to get rid of it altogether. If repealed other tax options, like capital gains taxes, could have people paying more in taxes than before.

Hawaii and New York have the highest tax burdens out of all US states, both exceeding 12% of income

The term "tax burden" in this case refers to property, income, sales, and excise taxes as a share of total personal income. Alaska and New Hampshire have the lowest total tax burdens in the US, both falling below 6%.

See the incidence of Lyme disease across all 50 states in 2023

The US states with the highest rate of Lyme disease—meaning cases per 100,000 people—were Rhode Island, Vermont, and Maine, in 2023. Rhode Island had 260 cases per 100,000 people, based on cases reported to the US Centers for Disease Control and Prevention. (Some users may encounter a paywall.)

How much tax you would owe on a $14M inheritance

“Death taxes” refer to estate and inheritance taxes—fees imposed on wealth transfers after someone passes. While the federal estate tax only applies to estates over $13.61 million in 2024, some states, like Washington, have their own taxes.

Taylor Swift's family encouraged her interest in music from a young age, and moved to Nashville before she reached high school so she could be close to the country music industry.

Taylor Swift frequently reinvents herself musically

Swift began her career as a country music artist, morphed into a pop singer, and from there experimented with everything from dance to anthemic pop-rock to a more indie singer-songwriter sound. Her introspective 2020 album “Folklore” offered melancholic tunes to accompany the uncertain times of the COVID-19 pandemic.

See how the federal estate tax has changed in the 21st century

In 2001, the government passed an act to completely repeal the tax. It was overturned in 2010. In 2017, the government increased the exemption threshold so fewer people would have to pay into the tax. In 2025, the exemption threshold was permanently set to $15M.

Owning a home can help build wealth via tax benefits and more

In addition to tax benefits and the potential to build equity in your home, houses are also typically considered an appreciating asset. That means their value is likely to increase over time.

Taylor Swift influenced record labels to change the way they write contracts

In addition to being a successful songwriter, Taylor Swift is a change-maker in the music industry. She asserted creative control over her music, re-recording her earlier albums after she lost the rights to them, and sparked a vinyl revolution in a digital age.

States with the highest (and lowest) tax rates

WalletHub researchers evaluated not just income taxes but real estate, sales, and other levies in order to rank every state by its total effective local and state tax rate (not including federal). Alaska scored the lowest total tax rate and Illinois...

More than 15 states have estate or inheritance taxes—but Maryland is the only state with both

Eighteen states, and Washington, DC, have estate or inheritance taxes in place. Tax rates and thresholds vary per state, but most are less than the federal estate tax rate and threshold. This means an estate doesn't have to be as lucrative to be subjected to the taxes.

How Taylor Swift is related to poet Emily Dickinson

In 2024, genealogy site Ancestry.com claimed that the pop star and the poet were descended from a 17th-century English immigrant, Swift's ninth great-grandfather and Dickinson's sixth great-grandfather. That would make Swift and Dickinson sixth cousins, three times removed.

Taylor Swift fans are called 'Swifties'

Taylor Swift has a massive worldwide fanbase. Interacting with fellow so-called “Swifties” is part of what keeps her fans engaged. An interview with a 21-year-old fan who runs an influential Taylor fan account on X (formerly Twitter) talks about what it’s like to connect with fellow fans and their experiences.

Some policymakers take issue with long-term capital gains being taxed at a preferential rate compared to income from paid work

The concept of taxing unrealized capital gains—when an asset’s value increases but has yet to be sold—has been increasingly debated. Other policymakers in recent years have supported lowering the highest long-term capital gains tax rate and are generally opposed to levying taxes on unrealized capital gains.

See how much it costs to build a new home in each US state, as homeowners look to new construction in a competitive real estate market—with a national average cost of over $332K for a 2,100-square-foot home.

Taylor Swift was the first artist to occupy all of Billboard's Top 10

Swift's 2022 release "Midnights" led to an unprecedented feat: For the first time in Billboard history, the entire top 10 of the Hot 100 was occupied by the same artist. Two years later, "The Tortured Poets Department" would occupy the first 14 slots on the chart.

Watch Taylor Swift write a song

Taylor Swift is one of the most famous and successful entertainers of the modern era, whose music wins fans and Grammy awards, and secures billions of streams on Spotify. In this clip from the Netflix documentary Miss Americana, Taylor lets cameras film her in the process of writing a song.

The economics of ski resorts

More than 480 ski resorts pack in nearly 65 million visitors each year in the US for historically high prices. Daily lift tickets may cost three figures at many locations. Amid industry consolidation and more stringent land use regulations, ski resorts are upping their prices—a factor that does not appear to be dampening the sport's popularity. Learn more here.

States with the most million-dollar homes

As of 2024, the US has 621 cities where a typical home costs $1M or more. California has more million-dollar cities than any other state by a long shot, with 218. New York comes in second with 76. Want to see where other states rank? Check out this map to learn more.

Many 'cheap' retirement destinations contain hidden costs

Considering factors outside of housing and state income tax is crucial when thinking of an inexpensive place to retire. High energy bills, grocery tax, and insurance premiums are just a few things to look out for when picking where to live.

Since 1913, Americans have paid income taxes at varying rates

In the 2020s, the top marginal tax rate has floated around 37%, relatively lower than previous eras. Some have called for boosting the rate significantly to tax the highest earners.

Taylor Swift became more outspoken about her politics in the late 2010s

Vocally supporting LGBTQ+ rights, speaking out against racial inequality, and endorsing presidential candidates are more recent features of Taylor Swift's career. She first broke her political silence around the 2018 midterm elections.

The debate over estate taxes centers on wealth inequality

Since the modern federal estate tax was implemented, people have felt strongly about whether or not to keep it. Much of the debate boils down to equality: Proponents say the tax creates better income equality between the rich and poor, while opponents say it's an inequitable tax only placed on the wealthy.

The term 'wedding tax' is often used to refer to the extra money that many wedding industry suppliers charge

According to wedding vendors, the "wedding tax"—the additional money charged for goods and services specifically intended for a wedding rather than another type of event—stems from the increased amount of time and attention that someone like a florist or makeup artist spends on a wedding versus any other type of event. Unlike other events, weddings are often planned a year or more in advance and require more detailed planning and hours of communication.

Rhode Island skipped the Constitutional Convention

Delegates from 12 of the original 13 states attended the 1787 Constitutional Convention. Rhode Island initially refused to participate, fearing centralized power. The state eventually joined the new republic after its ratification.

Charting the rise of the American McMansion

US homes are growing larger and more luxurious, with Census Bureau data revealing a rise in four-bedroom houses equipped with air conditioning. Experts say the trend of elevated home prices is expected to continue.

Only 5 states have inheritance taxes

Unlike estate taxes, inheritance taxes paid by the beneficiary of the estate (the person who inherits the deceased person's financial assets). The federal government doesn't levy an inheritance tax, but five states do. They all have varying tax rates and rules.

Death taxes are placed on a deceased person's estate

Death taxes can include liquid cash, property, stocks, or other financial assets they owned. There are two main types of death taxes in the US: the estate tax and inheritance tax. Death taxes are levied at the federal and state level, but are targeted towards the rich.

To be in Connecticut's 1%, you'd need to earn more than $1M per year

That makes Connecticut the most competitive state in the country when it comes to joining the 1%. This map outlines how much it takes in the other states.

The most taxed states in America

Some states in the US have higher taxes than others. Hawaii, for instance, has the highest total tax burden in the country at 13.9%, whereas Alaska has the lowest overall tax burden at 4.9%. New York has the highest individual income tax burden; and eight states have no individual income tax. See a map of the most-taxed US states here.

Taylor Swift outsmarted her label by re-recording her albums

After Taylor Swift lost the rights to her songs, she lost control over what she could and couldn't do with them. Aware of her fan base, she re-recorded them, encouraged fans to listen only to her new versions, and improved the production quality, creating new hits out of existing songs.

Taylor Swift is one of the world's most successful artists

Swift is one of the best-selling musicians of all time. She has sold more than 200 million records and won multiple Grammy Awards. Known for her storytelling and ability to reinvent her music, she’s expanded her career from country roots to global pop stardom.

Surprising costs associated with homeownership include taxes and roof maintenance

Owning a home includes not just expected costs such as a mortgage, homeowners insurance, and landscaping, but also less-obvious expenses like property taxes, repairing and maintaining one’s roof and HVAC system, and HOA fees.

Short-term capital gains are gains on sales made in less than a year

In 2024, a single filer making anywhere between $200,001 and $243,725 per year would pay a 15% tax on long-term capital gains. But when it comes to short-term capital gains, they’d be taxed at the same rate as their regular income, which, in their case, is 32%.

'The Life of a Showgirl' was Swift's 15th chart-topping album

That places her second on Billboard's all-time list, though streaming has significantly changed how "sales" are interpreted. Prior to the shift to digital music, Billboard's album chart relied solely on sales of physical units. Since 2014, the chart has also considered streams from services like Spotify, Apple Music and YouTube.

Half of the richest people in the US are finding ways around death taxes

One of the main purposes of the federal estate tax is to crack down on generational wealth, so wealth isn't concentrated among a select few. However, the ultra-rich have found ways around paying these taxes. This ProPublica article investigates the practices used by half of the 100 richest people in the US to avoid death taxes.

Historically, only about 1% to 2% of Americans had to pay the federal estate tax

Recent IRS data shows that between 2011-16, that number dropped even lower: The federal estate tax only impacts about 0.2% of Americans. Death taxes typically only impact the rich, and the federal estate tax is no exception.

Read about the tax implications of remote work's increasing popularity

Tax complications can arise when a remote employee opts to work from a state where their employer had not previously done business. Demand for remote jobs has remained high since the pandemic accelerated remote work's popularity.

Taylor Swift is one of the most successful artists in the world

Few musicians are more popular (or more influential) than Taylor Swift. that's not a broad generalization. The data from this music-industry report backs it up. Luminate not only breaks down Swift’s titanic streaming numbers but also analyzes the strength of her fandom, which the publication considers indicative of “influence.”

Watch a North Carolina house collapse into the ocean

While the Outer Banks experiences beach erosion, rip currents and overwash from a nor’easter along the coast, a seaside house in Rodanthe collapsed Tuesday.

How the credit scoring system could change

Factoring rental payments into credit scores is just one proposed change some have suggested making to today’s credit scoring system to cater the system to renters as well as homeowners.