The squealing begins

[JohnD]

"Biden is proposing the tax increases to pay for extra spending on childcare and education. The plan includes raising the top income tax rate and applying ordinary income tax rates to capital gains for Americans earning more than $1m a year.

Coupled with a surtax on investment income introduced at the time of Barack Obama’s health reform, this would bring the total capital gains tax rate for the richest Americans to 43.4 per cent."

Can you imagine living in a country where billionaires faced a top tax rate of over 40%?

 

[KenGMac]

not to worry, the Donald will still be Mr. Teflon man

 

[JohnD]

paid $750 a year tax

claimed to be a billionaire

 

[SirGalahad]

paid $750 a year tax

claimed to be a billionaire

Umm, maybe that's why he is a billionaire. Not paying his tax.

Or being so poor at business being able to carry forward losses for 2 decades..

 

[Vinty]

Umm, maybe that's why he is a billionaire. Not paying his tax.

Or being so poor at business being able to carry forward losses for 2 decades..

Robert Maxwell was the same.
Maxwells liabilities were always greater than his assets.
He just borrowed money on a massive scale.
Didn't prevent him getting a state funeral in Israel though.