This keeps getting proposed in many countries, and never happens. Maybe, finally, it will, despite:
- Is it the shadow government / deep state?
- Or donor pressure?
- Or admitting that the capitalist dream is flawed?
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.
https://www.theguardian.com/us-news/2022/mar/26/joe-biden-billionaires-tax
I like that simplicity. No ways around it – however your income is derived, at that level of income, you absolutely have to pay 20% income tax, which is way below what the middle class pay.
Impossible to argue against philosophically.
