The wealthiest American taxpayers would pay a minimum tax on their income each year, according to a budget proposal unveiled by President Joe Biden's administration
"This minimum tax would apply to the 0.01% wealthiest households -- those with more than $100 million. and more than half of the revenue will come only from billionaires," the White House announced. "It would ensure that, in any given year, they pay at least 20% of their total income in federal income taxes," it added.
(CNA)
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