A 25 Percent Biden Wealth Tax?
15th May 2023
Buried long into an interminable New York Times thumbsucker about intergenerational wealth transfer and racial inequality comes this sentence: “The president’s latest budget proposes largely offsetting spending on social programs with revenue from a minimum 25 percent annual wealth tax on households with a net worth of $100 million or more.”
I follow this stuff pretty closely and somehow I missed Biden proposing a “25 percent annual wealth tax.”