Jon Queally is managing editor of Common Dreams.
U.S. Treasury Secretary Janet Yellen is being taken to task by progressive critics after coming out Monday in opposition to a proposed global tax on billionaires at an upcoming Group of 7 nations meeting where the measure is on the agenda.Speaking to the Wall Street Journal , Yellen told the newspaper that while the Biden administration broadly supports more progressive taxation, in which those at the top of the income and wealth scale pay higher rates, the U.S.
'Successful implementation of a billionaires tax, reports the WSJ, 'would allow countries to raise more in tax revenue to finance other priorities and use the tax code to reduce income inequality, which has widened sharply in recent decades.
Gabriel Zucman Inequality Janet Yellen Joe Biden Patriotic Millionaires Taxation Wall Street Journal Tax The Rich
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