Biden Administration , Will Propose Minimum Tax , on Wealthiest Households.
NBC reports that the Biden administration will propose
a new minimum tax on the wealthiest households
in the United States in its fiscal 2023 budget. .
The Billionaire Minimum Income Tax plan
is reportedly expected to be released on March 28. .
The proposed plan would impose a 20% minimum
tax on U.S. households worth over $100 million. .
America’s imbalanced tax code means
that many millionaires and billionaires
end up paying lower tax rates
than middle class workers, White House fact sheet, via NBC.
The proposal is reportedly meant to put the U.S. government on more solid financial footing, , "building on the progress the Administration
has made to reduce the deficit.".
According to the White House, the proposed
plan could reduce the deficit by nearly
$360 billion over the next ten years. .
NBC reports that the new tax on the wealthy
would combine with other measures to
reduce projected deficits by over $1 trillion. .
The new budget also reportedly proposes, "additional smart, targeted investments designed
to spur durable economic growth, create jobs, reduce
cost pressures, and foster shared prosperity —
while more than fully offsetting their cost.".
In 2021, Senate Finance Committee Chair
Ron Wyden, D-Ore., unveiled the
so-called Billionaires Income Tax.
In 2021, Senate Finance Committee Chair
Ron Wyden, D-Ore., unveiled the
so-called Billionaires Income Tax.
However, the proposal to impose tougher
taxes on the 700 wealthiest Americans
failed to make progress. .
At the time, Senator Joe Manchin
denounced Wyden's proposal as divisive.
Credit: Wibbitz Top Stories Duration: 01:31Published
Second Amazon Union Vote , in NYC Fails.
Last month, Amazon workers on
Staten Island voted to unionize, becoming the first to do so in the United States.
Last month, Amazon workers on
Staten Island voted to unionize, becoming the first to do so in the United States.
But on May 2, 'New York Post' reports that a second, smaller Staten Island Amazon facility voted against following in their footsteps. .
But on May 2, 'New York Post' reports that a second, smaller Staten Island Amazon facility voted against following in their footsteps. .
The vote count was reportedly 380 for
and 618 against unionization.
Still, the Amazon Labor Union has
vowed to continue its fight.
Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez showed up to support union activists in April.
Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez showed up to support union activists in April.
I say to Jeff Bezos, who owns a $500 million yacht — I say, ‘Jeff, when you’re out on your yacht, I want you to think about the workers. ’They want housing that is affordable. They want to be able to put away a few bucks to send their kids to college, Sen. Bernie Sanders, via statement, as reported by 'New York Post'.
I say to Jeff Bezos, who owns a $500 million yacht — I say, ‘Jeff, when you’re out on your yacht, I want you to think about the workers. ’They want housing that is affordable. They want to be able to put away a few bucks to send their kids to college, Sen. Bernie Sanders, via statement, as reported by 'New York Post'.
Meanwhile, Amazon has appealed the vote to unionize at the first Staten Island warehouse and contested another union vote in Bessemer, AL.
Meanwhile, Amazon has appealed the vote to unionize at the first Staten Island warehouse and contested another union vote in Bessemer, AL.
The National Labor Relations Board
is looking into both situations
Credit: Wibbitz Top Stories Duration: 01:31Published
Progressive Democrats say they will not vote for President Biden’s $1.2 trillion bipartisan infrastructure bill unless they get a $3.5 trillion spending bill too, following House Speaker Nancy..
Budget Committee Chairman Sen. Bernie Sanders tells CNN’s Dana Bash he thinks House progressives should torpedo the bipartisan infrastructure deal if the Senate doesn’t approve a $3.5 trillion..
Democratic Sen. Joe Manchin dismisses House progressives’ threat to block the bipartisan infrastructure deal if the Senate doesn’t pass a $3.5 trillion reconciliation bill.
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