03.28.22
Biden Proposes a Tax on Billionaires
by: Alan Rappeport
President Biden on Monday proposed raising taxes on the wealthiest Americans and corporations, outlining several initiatives in his 2023 budget aimed at bringing down the federal budget deficit and closing loopholes that allow the rich to lower their tax bills. The budget calls for a new tax on U.S. households worth more than $100 million, which would require that they pay a rate of at least 20% on their income, as well as unrealized gains in the value of their liquid assets, such as stocks.
Read the full article on New York Times