President Biden is expected to announce a 20% minimum tax for billionaires.
President Joe Biden is expected to propose a new minimum tax primarily aimed at billionaires when he unveils his 2023 budget, according to a document obtained by CNBC.
Dubbed the "Billionaire's Minimum Income Tax," it would tax U.S. households worth more than $100 million at a rate of at least 20 percent. More than half of the revenue may come from businesses worth more than $1 billion.
"This minimum tax will ensure that the wealthiest Americans no longer pay less than teachers and firefighters," the document said.
We all know that more than 80% of the wealth in this country is concentrated in the hands of 20% of the people. In the stock market, a large number of billionaires have gathered.
So, will the Biden administration be boycotted by the wealthy, ultimately causing the Biden administration’s policies to fail in Congress? Maybe he just proposed such a policy to please the people and ease domestic conflicts? And actually he knew that such a policy would never be approved by Congress?
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Digital Cat : Make me a Billionaire and you can tax away
151643573 : capital gains in Australia is taxed at 40%. thats why we have no billionaires here lol.
efficentupupOP Digital Cat:
We are all billionaires in the future
efficentupupOP 151643573: too high
71508693 Digital Cat: I love the response
Expendabiggles :
. OMFG, people are COMPLETE morons if they believe this stuff and don’t think that there will def be loopholes all in this. Smh how people just buy this garbage day in & day out. 
GabyGolding : Then billionaires will move their company to Singapore.
Pnixx : no way that's insane im in the working class and I think thats nuts to tax the super wealthy because they have more! better to make a flat tax across the board
70583235 : It will never pass at 20%, both sides of the isles will be getting lots of pressure from them. If it gets close I could see maybe a 10% tax.
DigitalnSanity : I’am not a billionaire YET so I hope it passes so they have to pay more, WHEN I become a billionaire then we can talk. LOL
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