U.S. Treasury Secretary Janet Yellen announced that President Biden's proposed 5% minimum tax on Americans with $100 million in wealth would target unrealized capital gains. Yellen also stated that Biden opposes raising tax rates for individuals earning under $400,000.
“The president has made clear he would oppose raising back the taxes for working class people and families making under $400,000,” Treasure Secretary Janet Yellen said during a Senate Finance Committee hearing on the president’s budget proposal. https://t.co/GWe8eESmxz
❖ YELLEN: BIDEN HAS MADE CLEAR THAT HE WOULD OPPOSE RAISING TRUMP-ERA TAX RATES ON THOSE EARNING UNDER $400,000
🔴 US TREASURY SECRETARY YELLEN: BIDEN'S PROPOSED 5% MINIMUM TAX ON AMERICANS WITH $100 MLN IN WEALTH WOULD COVER UNREALIZED CAPITAL GAINS.
❖ YELLEN SAYS BIDEN'S PROPOSED 5% MINIMUM TAX ON AMERICANS WITH $100 MLN IN WEALTH WOULD COVER UNREALIZED CAPITAL GAINS
U.S. TREASURY'S YELLEN SAYS BIDEN'S PROPOSED 5% MINIMUM TAX ON AMERICANS WITH $100 MLN IN WEALTH WOULD COVER UNREALIZED CAPITAL GAINS