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The fairness of the U.S. tax system, especially concerning billionaires, has recently been a topic of heated debate. In his State of the Union address on March 7, President Joe Biden highlighted ...
IRS data shows high earners pay more in income taxes than their share of earnings.
A viral claim relies on a misleading definition of income.
They can then live on borrowed money, collateralized by their wealth, as ProPublica explained in a 2021 expose on the tax avoidance strategies of the wealthiest Americans. If they had to pay ...
The proposal that would target billionaires is out, Richard Neal told Bloomberg, but Ron Wyden told Insider: "I'm not saying that it's dead!"
Here's why a billionaire's tax may go nowhere.
A Democratic proposal to tax the unrealized gains of billionaires could have an unwanted side effect: the government cutting checks to the wealthiest in down times.
Democrats' idea of a billionaires' tax is "baloney," Leon Cooperman said. He suggested closing loopholes and raising the income tax instead.