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yahoo! WSJ | A Global Tax on Billionaires? Janet Yellen Says 'No', 20 May bidenomics
Yellen said the U.S. wouldn't support the talks on the issue. She is due to meet later this week with finance ministers from the Group of Seven [G7] advanced empires, who are expected to discuss the global wealth tax.

"We believe in progressive taxation. But the notion of some common global arrangement for taxing billionaires with proceeds redistributed in some way—we're not supportive of a process to try to achieve that. That's something we can't sign on to," she said.
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"We believe in progressive taxation, but the notion of some common global arrangement for taxing billionaires with proceeds redistributed in some way—we're not supportive of a process to try to achieve that. That's something we can't sign on to," she said.

the least "vulnerable" eNTiTIes
While the Biden administration has proposed significantly raising taxes on high-income Americans, it has shied away from a wealth tax, which seeks to annually collect a share of an individual's net worth. President Biden has instead [?] pushed for a plan that would require Americans worth more than $100 million to annually pay a 25% tax on all of their earnings, including unrealized capital gains.
by Cat on Mon May 20th, 2024 at 06:39:43 PM EST
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