Treasury Secretary Janet Yellen does not support a proposal that would impose a global wealth tax on the wealthiest billionaires.
major economies this year. German, Spanish, and South African officials have also discussed the proposal, which aims to stop the ultrawealthy from safeguarding their assets from“We believe in progressive taxation.
“This is exactly what we did with minimum taxation on corporate tax,” French Finance Minister Bruno Le Maire said recently. “It would be the same on the international taxation for the wealthiest individuals.”That provision would only affect the wealthiest 0.01% of taxpayers, according to the White House. The White House estimates that the billionaire minimum tax plan would bring in about $500 billion over the next decade.
Biden’s budget includes raising the headline corporate tax rate from 21% to 28%, a change he has sought for years. The 2017 tax cuts, championed by then-President Donald Trump, lowered the corporate rate from 35%.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rep. Blake Moore, Treasury Secretary Yellen argue over Trump-era tax cutsTax policy has an impact on the economy. Utah Rep. Blake Moore, the vice chairman of the Republican Conference, and Treasury Secretary Janet Yellen could at least agree on that much.
Read more »
‘Buy Bitcoin’ Sign Held at Janet Yellen’s 2017 Speech Sells for $1MCrypto Blog
Read more »
‘Buy Bitcoin’ sign that photobombed Janet Yellen sells for $1MThe “Buy Bitcoin” sign that was shown behind Janet Yellen at a televised 2017 Congressional hearing has sold for over $1 million.
Read more »
'Buy Bitcoin' sign from Janet Yellen's 2017 speech sold for $1 millionThe 'Buy Bitcoin' sign on yellow notebook paper gained significance after being seen on TV behind then-Fed Chair Janet Yellen in 2017.
Read more »
US Treasury's Yellen says Congress should act on nonbank mortgage sectorUS Treasury's Yellen says Congress should act on nonbank mortgage sector
Read more »
Yellen says Chinese response possible on expected U.S. tariff actionThe United States could see a significant response from China following any U.S. tariff actions, U.S. Treasury Secretary Janet Yellen said on Monday.
Read more »