The FBI and tax authorities are both investigating the leak, which a White House spokesperson described as 'illegal'. The list also includes George Soros, Michael Bloomberg and more.
Using data collected by Forbes, ProPublica calculated the combined wealth of the 25 richest Americans soared by $401 billion from 2014 to 2018. Over the four-year period, however, the 25 billionaires paid only a combined $13.6 billion in income tax. In true tax term, that amounts to 3.4 percent.
By contrast, over the same period, the median American household income has stood at around $70,000 with 14 percent paid in federal taxes.and tax authorities are both investigating the leak, which a White House spokesperson described as"illegal".called taxing the wealth of the richest Americans—not just their income.
"Our tax system is rigged for billionaires who don't make their fortunes through income, like working families do,""The evidence is abundantly clear: it is time for a #WealthTax in America to make the ultra-rich finally pay their fair share."has vowed to increase taxes on the richest Americans, as part of his plans to address financial inequality and raise funds for his infrastructure program.
Biden has proposed to raise the top tax rate to 39.6 percent for people earning $400,000 a year or more in taxable income, which are estimated to be fewer than two percent of U.S. households.
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