U.S. billionaires would pay tax on unrealized gains from their assets to help finance President Joe Biden's emerging social-policy and climate-change legislation, according to a proposal unveiled on Wednesday by the top Senate Democrat for tax policy.

U.S. billionaires would pay tax on unrealized gains from their assets to help finance President Joe Biden's emerging social-policy and climate-change legislation, according to a proposal unveiled on Wednesday by the top Senate Democrat for tax policy.

Semi-based, shame it will die somewhere in a committee

  • NaturalsNotInIt [any]
    ·
    3 years ago

    They want to use it as a backdoor to get expanded financial reporting requirements, which is the real goal. "Going after billionaires" is a smoke screen for going after people who work for cash under the table. They tried to go straight to it with the $600 bullshit, but that was too aggressive.