Senior House Democrats are coalescing around a draft proposal that could raise as much as $2.9 trillion to pay for most of President Biden’s expansion of the social safety net by increasing taxes on the wealthiest corporations and individuals. nyti.ms/3llFsS7

House Democrats Outline Tax Increases for Wealthy Businesses and Individuals (Published 2021)

The draft proposal includes raising the corporate tax rate to 26.5 percent for the richest businesses to help pay for President Biden’s sweeping expansion of the social safety net.

nytimes.com
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Replying to @nytimes
There should also be a #wealthtax of 2% on assets over $500M and an additional 1% on assets over $1B.

Sep 13, 2021 · 7:34 AM UTC

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Replying to @marwilliamson @nytimes
It shouldn’t even be legal for a single person to own more than a billion dollars
Replying to @marwilliamson @nytimes
…applied globally and the money given to aid programmes and things that enable the masses.
Replying to @marwilliamson @nytimes
Higher.
Replying to @marwilliamson @nytimes
2% per year? That's less than the 5% that foundations are required to give away. I think I'd just require the wealthy to give away all of their fortunes during their lifetimes.