The ONLY solution is to tax wealth and unrealized cap gains.” Whereas the wages and salaries that everyday Americans earn are taxed as ordinary income, billionaires make their money in ways that are taxed at lower rates, and sometimes not taxed at all,” the administration said in a fact sheet, adding that this, combined with sophisticated tax planning and giant loopholes, allows many of the wealthiest Americans to pay an average tax rate of just 8% on their full incomes.Ĭommenting on the new 25% tax, the “Patriotic Millionaires” – a group of high-net-worth individuals, tweeted: “Billionaires pay a lower tax rate (on way more money) than working people. “The tax code currently offers special treatment for the types of income that wealthy people enjoy. The administration said in its proposal that the reforms to the taxation of capital gains would reduce economic disparities among Americans and raise needed revenue.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |