{"id":1403235,"date":"2022-03-27T16:30:29","date_gmt":"2022-03-27T20:30:29","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1403235"},"modified":"2022-03-27T16:30:38","modified_gmt":"2022-03-27T20:30:38","slug":"report-white-house-to-propose-billionaire-minimum-income-tax","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/report-white-house-to-propose-billionaire-minimum-income-tax\/","title":{"rendered":"Report: White House to Propose &#039;Billionaire Minimum Income Tax&#039;"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Freport-white-house-to-propose-billionaire-minimum-income-tax%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1403235&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<p class=\"subheading\">White House officials will reportedly zero in on American billionaires with a minimum tax when President Joe Biden announces his 2023 budget.<\/p>\n<p>Details of the plan are contained in documents\u00a0<a href=\"https:\/\/www.foxbusiness.com\/politics\/white-house-to-target-billionaires-with-new-minimum-tax-in-2023-budget\">obtained<\/a> by Fox News:<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<blockquote>\n<p>Dubbed the \u201cBillionaire Minimum Income Tax,\u201d the Biden administration proposal, as highlighted in the document, aims to \u201censure that the very wealthiest Americans pay a tax rate of at least 20 percent on their full income, including unrealized appreciation.\u201d<\/p>\n<p>As part of the plan, a 20% minimum tax rate would be placed on U.S. households worth more than $100 million, with more than half the revenue coming from households worth more than $1 billion.<\/p>\n<\/blockquote>\n<p>According to Fox,\u00a0\u201cThis minimum tax would make sure that the wealthiest Americans no longer pay a tax rate lower than teachers and firefighters,\u201d the document reads.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>In September, Biden <a href=\"https:\/\/www.breitbart.com\/politics\/2021\/09\/24\/joe-biden-complains-american-trillionaires-not-paying-enough-taxes\/\">spoke<\/a> about \u201ctrillionaires\u201d failing to pay taxes although no American citizen was worth that much money, according to Breitbart News.<\/p>\n<p>\u201cI\u2019m running to change the dynamic of how the economy grows,\u201d Biden commented. \u201cI\u2019m tired of trickle-down. Trillionaires and billionaires are doing very, very well. You all report it.\u201d<\/p>\n<p><span class=\"video-src-attr\">The White House<\/span><\/p>\n<p>Despite the remarks, the wealthiest of American billionaires \u2014 those in the top percentile of the top one percent \u2014 have continued to accrue vast amounts of wealth under Biden. In his first 100 days as president the 100 richest Americans added nearly $200 billion to their fortunes, Bloomberg News <a href=\"https:\/\/archive.ph\/n46Al\">reported<\/a>.<\/p>\n<p>Meanwhile, Biden has failed to include measures in past budgets that would more fairly tax those wealthiest income earners. In October 2021, for example, the <em>New York Times<\/em> noted that efforts to boost taxes among the richest billionaires were <a href=\"https:\/\/archive.ph\/xEzqH\">thrown<\/a> out of budget plans by Democrats in favor of taking more money from millionaires whom those billionaires often employ.<\/p>\n<p>During his first State of the Union address, Biden <a href=\"https:\/\/www.breitbart.com\/economy\/2022\/03\/01\/fact-check-biden-trump-tax-cut\/\">claimed<\/a> former President Donald Trump\u2019s 2017 tax cut merely aided the top one percent, however, a Breitbart News fact check found that to be false:<\/p>\n<blockquote>\n<p>The beneficiaries of the 2017 tax reforms were not confined to the top earners. In fact, the overwhelming majority of American taxpayers received a tax cut through the Trump Tax Cuts and Jobs Act.<\/p>\n<p>Eighty-two percent of American middle-class households\u00a0received\u00a0a tax cut and Americans altogether\u00a0received\u00a0an average tax cut of $1,260. Ninety percent of Americans\u00a0saw\u00a0an increase in take-home pay. The tax cuts\u00a0raised wage growth by 3.3 percent and helped foster historic lows in unemployment.<\/p>\n<\/blockquote>\n<p>Biden\u2019s 2023 budget is expected to be announced Monday.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>White House officials will reportedly zero in on American billionaires with a minimum tax when President Joe Biden announces his 2023 budget. Details of the plan are contained in documents\u00a0obtained<\/p>\n","protected":false},"author":45,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1403235","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1403235","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/45"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1403235"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1403235\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1403235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1403235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1403235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}