10.26.21
Democrats Target "Buy, Borrow, Die" With Their Billionaire Tax Plan
by: Ben Steverman; Sophie Alexander; Scott Carpenter
Democrats' latest tax proposal targets billionaires and their growing amount of untaxed investment gains. Under current rules, investment returns are only taxed when assets are sold, and the wealthy have the flexibility to only rarely sell, if ever. For Democrats, that’s a problem that requires a creative solution. Specifically, a “billionaire’s tax,” which would be an unprecedented annual levy on the investment gains of America’s richest.
Read the full article on Bloomberg