The original content of Democracy Now! Headlines appears under the Creative
Commons BY-NC-ND 3.0 License (United States). For more, including their other
shows and media, visit www.democracynow.org.
March 28, 2022

Biden Proposes 20% Minimum Tax on Billionaires' Incomes
-------------------------------------------------------

The White House is unveiling a new tax plan that would establish a
minimum 20% tax rate on all U.S. households worth more than $100
million. If approved by Congress, the Billionaire Minimum Income Tax
would apply only to the top one-hundredth of one percent of U.S. tax
filers. Experts estimate the tax could raise $215 billion from just the
10 wealthiest billionaires over the next decade. A vast trove of leaked
IRS data recently obtained by Pro Publica shows many of the richest
billionaires - including Jeff Bezos and Elon Musk - paid little or
essentially zero income tax in recent years.


.