{"id":1406380,"date":"2022-03-29T07:15:50","date_gmt":"2022-03-29T11:15:50","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1406380"},"modified":"2022-03-29T07:15:53","modified_gmt":"2022-03-29T11:15:53","slug":"w-h-economic-adviser-wont-rule-out-biden-minimum-tax-being-first-step-to-further-tax-hikes","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/w-h-economic-adviser-wont-rule-out-biden-minimum-tax-being-first-step-to-further-tax-hikes\/","title":{"rendered":"W.H. Economic Adviser Won&#039;t Rule Out Biden Minimum Tax Being First Step to Further Tax Hikes"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">32<\/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%2Fw-h-economic-adviser-wont-rule-out-biden-minimum-tax-being-first-step-to-further-tax-hikes%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=1406380&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>On Monday\u2019s broadcast of MSNBC\u2019s \u201cHallie Jackson Reports,\u201d White House Council of Economic Advisers member Jared Bernstein responded to a question on whether the minimum tax proposal in President Joe Biden\u2019s budget is a first step towards further tax increases by stating that the proposal \u201cinjects a huge dose of fairness into the tax code,\u201d which is important to Biden, and is historic legislation \u201cto try to figure out how we can fix this problem that billionaires tend to pay an effective tax rate of 8%.\u201d<\/p>\n<p>Host Hallie Jackson asked, \u201cLet me start with this new minimum tax for very rich Americans, which the White House says would apply to people, I think with more than $100 million basically. Is this just a first step towards potentially raising taxes on a bigger group of rich people, of wealthy Americans, or is this it for the moment?\u201d<\/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<p>Bernstein answered, \u201cWell, I think what this is is an absolutely historically unique piece of tax legislation, the idea of which is to do something that\u2019s really never been done in U.S. tax policy, which is to try to figure out how we can fix this problem that billionaires tend to pay an effective tax rate of 8%. I didn\u2019t leave off a number there, 8%, below 10%, below what a firefighter or a teacher pays, in many cases. And that\u2019s because our tax system leaves wealth out of its base and this billionaire\u2019s minimum tax disallows that and it requires billionaires, the top .01% of the income scale to pay, at a minimum, a 20% tax rate, not the current 8%, raises 360 billion over 10 years, and injects a huge dose of fairness into the tax code, very important to this president.\u201d<\/p>\n<p><em>Follow Ian\u00a0Hanchett on Twitter\u00a0<a class=\"x5l\" href=\"https:\/\/twitter.com\/IanHanchett\" target=\"_blank\" rel=\"noopener external\">@IanHanchett<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Monday\u2019s broadcast of MSNBC\u2019s \u201cHallie Jackson Reports,\u201d White House Council of Economic Advisers member Jared Bernstein responded to a question on whether the minimum tax proposal in President Joe<\/p>\n","protected":false},"author":33,"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-1406380","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\/1406380","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\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1406380"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1406380\/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=1406380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1406380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1406380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}