The Trick Behind Joe Biden’s “Billionaire” Wealth Tax
April 1, 2022 12:36PM PDT
The White House is proposing a new tax on Americans with $100 million or more in assets, whom it labels “Billionaires” in a new report. But the White House proposal isn’t limited to billionaires, but all taxpayers with assets over $100 million. These taxpayers already pay 37% on ordinary income and a 23.8% tax on capital gains. For more information, Lars speaks with GianCarlo Canaparo, who is a Legal Fellow at The Heritage Foundation.