The new minimum tax will ensure that the richest Americans pay the tax rate is no longer lower than teachers and firefighters.It is estimated that from 2010 to 2018, the average federal tax rate paid by 400 billionaire families was slightly higher than 8%of its income; this was lower than the tax rate paid by most Americans.
(Washington Composite Electric) US media reports that when the Bayeng government issued a 2023 budget proposal on Monday (March 28)The minimum income of US $ 100 million (about 136 million yuan) of US families is 20 % and has not realized capital gains tax.
This solution called "BillionaireminiminCometax" by the White House is the most aggressive proposal to increase taxes on the U.S. rich in the Bayeng government so far.If it can be implemented, it will increase new revenue of about $ 360 billion in the next 10 years, equivalent to the White House that is expected to reduce the $ 1 trillion in deficit expenditure during this period.At the same time, more than half of new revenue will have a house of more than $ 1 billion in the future.
A document obtained by the American media stated that Biden believes that "the US tax law has led to the lower tax rate of the United States' richest households to pay lower than working families, which is wrong."
The document says that the minimum tax will ensure that the richest Americans pay the tax rate is no longer lower than teachers and firefighters.
The White House Management and Budget Office and the Economic Consultant Committee estimated that from 2010 to 2018, the average federal tax rate paid by 400 billionaire families was slightly higher than its income.This is lower than the tax rate paid by most Americans.
The tax rate paid by many billionaires is much lower than that of ordinary Americans because unless they sell their stocks, the federal government will not tax on the value of these stocks.Billionaires can use their cumulative income to borrow without paying capital income taxes, so as to accumulate huge wealth, in fact, they do not need to be taxed by the federal government.
According to the White House plan, if the tax rate paid by a wealthy family has reached 20%of their entire income, they will not need to pay additional taxes according to the proposal.However, if their tax rate is less than 20%, they need to "make up" taxes to meet the new minimum requirements."Therefore, this new minimum tax will eliminate the unrealized income of ultra -high net worth families, and for decades or generations can be exempt from tax exemption."Scholar Zukeman's statistics said that if the new tax system is implemented, the technology giant Musk must pay an additional $ 50 billion in taxation, and Amazon's founder Bezos must pay an additional $ 35 billion in taxation.
It is unclear whether Congress will support Biden's new proposal.Last year, the Democratic Party of the Senate proposed a billionaire tax, which to levy the richest Americans that did not achieve capital gains tax to help pay the "rebuilding a better future" bill proposed by Biden.The expenditure plan was not approved.
Biden had previously sought taxes on richer Americans and enterprises to offset the cost of its domestic "better reconstruction" plan.However, at the end of last year, due to the Democratic Senator Joe Manchin, he could not support the bill that he had passed in the House of Representatives, and the negotiation of this comprehensive domestic policy bill was in a deadlock.Biden hopes to reduce the version of the original bill, but it still needs the support of Manchin.
According to people familiar with the matter, the White House will be released on Monday, including increasing national defense and non -national defense expenses, focusing on psychological health, children's conservation, other social projects, and reducing deficits.
