President Joe Biden's re-election campaign includes a proposal to tax multimillionaires on unrealized capital gains, a move that has garnered support from US millionaires according to a YouGov poll. The plan is part of a broader strategy to increase taxes on the wealthiest Americans to address economic inequality and fund social welfare programs. This proposal has sparked a heated debate on its economic implications. Additionally, a G20-commissioned report suggests a global minimum tax on billionaires, which could raise up to $250 billion annually. French economist Gabriel Zucman has detailed this plan, highlighting its potential to address global inequality and the challenges it faces in the current international climate. The debate around taxing the super-rich is also prominent in other countries, with 74% of Indians supporting such measures to tackle global inequality and climate change. Meanwhile, JPMorgan has brought in over $15 billion from wealthy clients looking to cut tax bills.
Taxing super-rich debate should start with 2% levy, says economist behind plan https://t.co/akD5Zr4UWj https://t.co/HEtZMvAtxt
Failure to tax world's richest means global tax needed: report https://t.co/zGMpE0UZgP
Minimum tax on billionaires will raise up to $250bn a year, says report https://t.co/YevoBPsDDh
French economist Gabriel Zucman detailed his plan for a global minimum tax on billionaires, a centerpiece of Brazil’s yearlong Group of 20 nations presidency that is facing steep challenges in a tumultuous international climate https://t.co/5QTDnFg5w9
A top French economist details his plan for a global minimum tax on billionaires, a centerpiece of Brazil’s yearlong G-20 presidency that’s facing steep challenges in a tumultuous international climate, @andrewrosati @beckmartha report https://t.co/XftS06pn8y
Billionaires would have to pay 2% of their wealth in taxes each year under a new proposal issued under the auspices of the Group of 20 nations - an idea that could bring in as much as $250 billion annually to governments’ coffers. https://t.co/CrCp5sRBsE
We need a minimum tax on the ultra wealthy, as @gabriel_zucman says. https://t.co/Kc9LRIc1U3
The failure of rich countries to tax the world's billionaires has made it necessary to introduce a global minimum tax rate on the world's richest, argued a G20-commissioned report published on Tuesday. https://t.co/hlKdFycKYN https://t.co/ou8hQILsRh
Americans want the rich to be taxed more https://t.co/Z2DyyfFOLk
Thrilled to release this report commissioned by the Brazilian G20 Presidency today Just like we have a minimum tax on multinationals, we need a minimum tax on the world's super-rich—and it has become technically feasible 🧵with the main findings and proposals https://t.co/BUQKVD9pzK
Biden’s tax proposal promises a fairer tax system. And to not raise taxes on people making less than $400,000. If Biden gets re-elected, here are 6 of his tax proposals you need to know about: https://t.co/CBMG5W54O7
JPMORGAN BRINGS IN OVER $15BLN FROM WEALTHY CLIENTS LOOKING TO CUT TAX BILLS - FT
JPMorgan Brings In Over $15Bln From Wealthy Clients Looking To Cut Tax Bills - FT https://t.co/2aYb7YMdNr
Taxing the super-rich? 74% of Indians support it – Here’s why https://t.co/ESYcvP3h9D
As part of a progressive plan to fight Donald Trump on the economy, President Joe Biden plans making the wealthiest Americans pay more tax. According to a YouGov poll, US millionaires support him. https://t.co/wraEhxKP8L https://t.co/OWjJqOUaHh
"To the Left, and President Biden, this wealth is a giant honeypot waiting to be tapped. It is a central part of their plans to transform the United States into a European-style social-welfare state while pretending it won’t require European-style taxes on the middle class."…
Whether governments should tax billionaires’ on unrealised capital gains is a topic of hot debate https://t.co/4ZSTvn0bto 👇
74% Indians support taxing super-rich to address global inequality, climate change: Survey https://t.co/TlEp8ZEHeY
As part of his re-election campaign, Joe Biden is promising to tax multimillionaires on unrealised capital gains. This is easy to understand and therefore good politics. But it is bad economics https://t.co/kRBKXehiEA 👇
FT: US millionaires support Joe Biden’s plan to tax super-wealthy, poll shows. https://t.co/GWOK05litE