Biden targets America’s wealthiest with proposed minimum tax on billionaires
The Guardian says Joe Biden proposed a new tax on America’s richest households when he unveiled his latest budget on Monday.
The Biden administration wants to impose a 20% minimum tax on households worth more than $100m. The proposal would raise more than $360bn over the next decade and “would make sure that the wealthiest Americans no longer pay a tax rate lower than teachers and firefighters”, according to a factsheet released by the White House.
The plan – called the “billionaire minimum income tax” – is the administration’s most aggressive move to date to tax the very wealthiest Americans.
https://www.theguardian.com/us-news/2022/mar/28/biden-announces-billionaire-minimum-income-tax
…………………..
FOLLOW US ON SOCIAL MEDIA AND SHARE WTX NEWS WITH YOUR FRIENDS AND FAMILY:
Facebook – Please like our page
Twitter – Twitter updates available in English and Arabic. Please follow us and we would love to hear from you
Instagram – Follow our pages in English and Arabic
