Source: World Wide Web
Foreign media: Biden will impose new taxes on US billionaires, and Musk will pay an additional $50 billion?
"Biden's tax on the rich will make Musk pay an additional $50 billion", the British "Times" reported on the 27th, as part of the plan to reduce the US budget deficit and revitalize US President Biden's stagnant domestic agenda, the White House will propose a new tax on US billionaires on the 28th local time.
Screenshot of the Times report
The "billionaire minimum income tax," an integral part of Biden's 2023 budget, would impose a 20 percent minimum tax rate on Americans worth more than $100 million. In this case, Musk, the billionaire who is the CEO of SpaceX and the CEO of Tesla, will have to pay an additional $50 billion.
Musk Infographic
The White House expects the tax rule to reduce the U.S. fiscal deficit by $360 billion over the next 10 years, with a large portion of that money coming from the 700 richest Americans.
Biden Infographic
Biden has repeatedly urged the wealthiest households and businesses to "pay their fair share" when it comes to paying taxes, but reports note that he has yet to launch plans for billionaires.