Joe Biden to impose wealth tax on Americans worth more than $100m 

Mark Battersby
clock • 1 min read

US president Joe Biden is set to announce a tax aimed at US billionaires as part of his 2023 budget plan later today (28 March).  The Washington Post, citing five sources and an internal administration document, said the "billionaire minimum income tax" plan would establish a 20% minimum tax rate on all American households worth more than $100m. That would mean the majority of new revenue would come from billionaires, who are a frequent target of public and political ire for tax avoidance schemes. The paper said it would be "a tax on the richest 700 Americans for the first time". T...

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