Biden to propose a 25% billionaire tax

As reported by Bloomberg and confirmed by Axios, the Biden administration is preparing to introduce a range of tax hikes that will target affluent Americans and big corporations.

As per reports, the Biden administration’s latest budget proposal to Congress, set for release on Thursday, will feature a 25% minimum tax on the wealthiest 0.01% of the American population.

Under the proposed budget, a loophole that enables affluent investors with “passthrough businesses” to evade taxes on their investments would be eliminated.

"Biden to propose 25% billionaire tax"
READ MORE: https://www.axios.com/2023/03/09/biden-tax-reform-proposal

"Biden to Urge 25% Billionaire Tax, Levies on Rich Investors"
READ MORE: https://www.bloomberg.com/news/articles/2023-03-09/biden-to-urge-25-billionaire-tax-big-levies-on-rich-investors

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