What's a 'Wealth Tax' and How Would It Work? – NBC New York
To help pay for his big economic and social agenda, President Joe Biden is looking to go where the big money is: a wealth tax for billionaires.
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To help pay for his big economic and social agenda, President Joe Biden is looking to go where the big money is: a wealth tax for billionaires.
To help pay for his big economic and social agenda, President Joe Biden is looking to go where the big money is: billionaires.
Gap between rich and poor widens during pandemic
President Biden’s proposal to finance social spending through tax hikes on large corporations and wealthy Americans met with internal party resistance. Now he’s floating a new idea – a tax on the assets, not income, of billionaires.
As a candidate, Biden made higher taxes on the wealthy a key promise, saying no one earning less than $400,000 would pay more.