Thursday, March 28, 2024
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Would a 'Wealth Tax' Work?




Going through a nationwide debt of over $31 trillion, the Biden administration’s FY 2024 price range plan is on the lookout for a gusher of recent income in a "wealth tax" of 25% on wealth exceeding $100 million. This could tax not simply private earnings however positive aspects within the worth of belongings, no matter whether or not that achieve truly arrives as money in hand.The Biden administration’s proposal shouldn’t be precisely new. Sen. Bernie Sanders and Sen. Elizabeth Warren made wealth taxes a part of their 2020 bids for the Democratic presidential nomination. Sen. Ron Wyden, the present chair of the Senate’s Finance Committee and the Joint…

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