Independent news has never been so important.

Did you know that you can get Democracy Now! delivered to your inbox every day? Sign up for our Daily News Digest today! Don't worry, we'll never share or sell your information.

Biden Proposes 20% Minimum Tax on Billionaires’ Incomes

HeadlineMar 28, 2022

The White House is unveiling a new tax plan that would establish a minimum 20% tax rate on all U.S. households worth more than $100 million. If approved by Congress, the Billionaire Minimum Income Tax would apply only to the top one-hundredth of one percent of U.S. tax filers. Experts estimate the tax could raise $215 billion from just the 10 wealthiest billionaires over the next decade. A vast trove of leaked IRS data recently obtained by ProPublica shows many of the richest billionaires — including Jeff Bezos and Elon Musk — paid little or essentially zero income tax in recent years.

The original content of this program is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License. Please attribute legal copies of this work to Some of the work(s) that this program incorporates, however, may be separately licensed. For further information or additional permissions, contact us.

Non-commercial news needs your support

We rely on contributions from our viewers and listeners to do our work.
Please do your part today.
Make a donation