Don’t bet on this….
Republicans are NEVER gonna let this happen….
But Progressives will love that Biden is even thinking about this…
Us middle class tax payers carry the load….
Not the rich….
President Biden will propose a new 20 percent minimum tax on America’s wealthiest households as part of his fiscal year 2023 budget, according to a White House fact sheet released on Saturday.
The White House said that the “billionaire minimum income tax” Biden will propose would apply to the top 0.01 percent of American households, or those worth more than $100 million. More than half of the revenue raised by the proposed minimum tax would come from households worth more than $1 billion, according to the fact sheet.
“President Biden is a capitalist and believes that anyone should be able to become a millionaire or a billionaire,” reads the fact sheet describing the tax proposal. “He also believes that it is wrong for America to have a tax code that results in America’s wealthiest households paying a lower tax rate than working families.”