Wyden fills in details for 'Billionaires Income Tax'
The Senate’s top tax writer unveiled plans to create a special new tax on the uber wealthy that he hopes Democrats will use to help pay for their next big spending package.
Finance Chair Ron Wyden (D-Ore.) wants to begin requiring people with more than $1 billion in assets, or who earn more than $100 million in three consecutive years, to begin paying capital gains taxes each year on the appreciation in value of their assets, regardless of whether they are sold.
Wyden figures it would hit around 700 people, and expects it to generate several hundred billion dollars, though Congress’s official scorekeepers have not yet put a number on the plan.
“We have a historic opportunity with the Billionaires Income Tax to restore fairness in our tax code, and fund critical investments in American families,” said Wyden. “The Billionaires Income Tax would ensure billionaires pay tax each year, just like working Americans.”
https://www.msn.com/en-us/news/politics/wyden-fills-in-details-for-billionaires-income-tax/ar-AAQ0l6x
You need to talk to Manchin.
= new reply since forum marked as read
Applause to our leadership.
