How will the millionaire proposed by the Democratic Party Surtax work


An extra tax on millionaires is being considered by Democrats in the US Congress as they try to pay for President Joe Biden’s $1.75 trillion social spending plan. This add-on could raise the top tax rate on income up to 45% for tens of thousands of well-off Americans, up from 37% currently. It is an alternative to a series of proposals to tax wealth, not just income, including a billionaire tax proposal that was knocked down shortly after it was raised.

https://www.washingtonpost.com/business/how-democratsproposed-millionaire-surtax-would-work/2021/11/19/a73cb124-4946-11ec-beca-3cc7103bd814_story.html?utm_source=rss&utm_medium=referral&utm_campaign=wp_business How will the millionaire proposed by the Democratic Party Surtax work

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