The Democrats' planned tax on billionaires faces a problem: It may be unconstitutional
to tax billionaires’ unsold assetsIf enacted, the tax would almost certainly face a legal challenge, given the clear incentive for a taxpayer to spend millions in legal fees to save billions on taxes.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tax on Billionaires’ Unrealized Gains Will Likely Be in Budget Package, Democrats SayA new annual tax on billionaires’ unrealized capital gains is likely to be included to help pay for the vast social policy and climate package being finalized this weekend, senior Democrats said
Read more »
Senate Democrats push for tax on billionaires to help fund spending planSenate Democrats are eyeing a tax on billionaires to help fund their social spending package amid pushback on income and corporate tax hikes.
Read more »
Texas Gov. Greg Abbott signs bill banning transgender girls from participating in female sports in schoolsThe two-term Republican governor is facing a primary challenge from the right.
Read more »
Billionaire's tax is the worst idea ever, says NYU professor DamodaranThe new tax proposal targeting billionaires is not only ineffective, but one of the worst tax ideas ever, NYU Stern School of Business professor Aswath Damodaran says. Here's why.
Read more »
Pelosi says tax on billionaire assets would pay for only 10% of social spending billThe House Speaker said Sunday a tax on billionaires' unrealized capital gains 'doesn't produce that much money.'
Read more »
Holdout Sen. Manchin agreeable to wealth tax for Biden plan, source saysPresident Biden’s proposals for new taxes on billionaires and companies to help fund his domestic agenda has the apparent backing of Sen. Joe Manchin.
Read more »