Joe Biden will ask Congress on Monday to pass a new minimum tax that would require American households worth more than $100 million to pay a tax rate of at least 20 percent on their full income.
Scoop: Biden’s budget on Monday to propose “Billionaire Minimum Income Tax”
1st time WH has so directly targeted billionaire wealth
Would create minimum 20% rate on income above $100M
400 billionaire families paid *8.2% federal rate* from 2010-18https://t.co/zsn0xto36J
— Jeff Stein (@JStein_WaPo) March 26, 2022
The tax will affect the richest 700 Americans and the Biden regime estimates the new tax will raise $360 billion a year.
— Peter Stefanovic (@PeterStefanovi2) March 27, 2022
According to CBS — the world’s 2,365 billionaires enjoyed a $4 trillion boost to their wealth during the first year of the pandemic, increasing their fortunes by 54%.
