Since taking office, US President Biden has proposed a number of economic stimulus plans, intending to increase investment in semiconductors and other fields, but the problem is that the us domestic inflation, fiscal deficit and other issues are extremely serious, and the US government is heavily indebted, how can it have enough funds to support Biden's idea? In order to solve the problem of funding, Biden intends to impose taxes on the rich. According to British media reports, on March 28, local time, the White House officially proposed to impose new taxes on US billionaires, which also means that American tycoons such as Musk, CEO of Space Exploration Technology Company, may need to spend more money to pay taxes. I have to say that Biden's strategy is indeed a bit hateful.
The United States intends to tax the wealthy
It is reported that according to Biden's vision, the United States will impose a 20% tax on Americans worth more than $100 million in 2023, which also means that Musk needs to spend $50 billion on taxes. Once the rule is implemented, the U.S. fiscal deficit is expected to shrink by $360 billion over the next 10 years, and these deficit gaps will be filled by the 700 richest Americans.
As early as taking office, Biden has repeatedly proposed to impose more tariffs on the wealthy, but this is the first time Biden has proposed to tax assets such as the stocks of the rich, which is unprecedented before.
For a long time, the U.S. government will not tax this part of the assets before the rich in the United States do not sell the assets they hold, such as stocks and bonds, but some Americans believe that in the case that the U.S. government does not tax these assets, these assets are increasing in value, which will lead to a growing gap between the rich and the poor in the United States, so many Democratic lawmakers have proposed to tax assets such as the stocks of the rich.
Biden's proposal is not favored
Some analysts believe that at this time, the White House suddenly proposed to tax the rich, mainly related to the subsequent midterm elections. In November this year, the United States will officially usher in the midterm elections, but because Biden's performance after taking office is not optimistic, the Democratic Party's election situation is very worrying. In this case, Biden must introduce more measures to help democrats gain more voter support.
In addition, since taking office, Biden has proposed a number of economic stimulus plans, but some of them have been opposed by Democratic moderates and Republicans, so Biden needs to seek more income to support his own economic plans.
However, at present, many people in the United States are not optimistic about Biden's proposal, and some people believe that although Biden proposed it, how to calculate assets such as rich people's stocks is a major problem. In addition, the U.S. House and Senate have always been a gathering place for the rich, and Biden now wants the rich to pay more taxes, so the proposal is likely not to be approved in the United States, and it may not be resolved.
Some sources of reference: Shangguan News