The U.S. federal government is short of money, what to do? Is it necessary to watch the U.S. federal government stop operating? Of course not, the federal government has difficulties, how can the rich in the United States sit idly by? On November 1, more than two hundred and fifty billionaires in the United States issued a joint letter calling for the inclusion of a "billionaire tax" in the framework of the Social Spending Act, that is, a tax on billionaires who are richer than them. Regarding this proposal, it was actually made last month by Wyden, a Democratic member of the US Senate, in response to Biden's request.
The "billionaire tax" would be a tax on the seven hundred richest people in the United States, and Wyden also proposed a minimum corporate tax on profitable U.S. businesses. Of course, while these two proposals could generate hundreds of billions of dollars in revenue for the U.S. federal government, provide more funding for Biden to stabilize order and help vulnerable groups, the proposals are not currently in the framework of the bill due to opposition. And if the proposal fails, the Biden administration will shut down because of financial problems.
As a result, a group of millionaires could not sit still, and more than 250 millionaires called for the inclusion of the "billionaire tax" in the White House bill, because taxing the rich was enough to help millions of American workers and promote fairness.
Of course, within the Democratic Party, the above proposal has been very controversial. A group of Democrats led by Senator Joe Manchin did not support Wyden's opinion. Without more support, the proposal would not be adopted. Moreover, taxing the rich is only a stopgap measure. The current situation in the United States is due to the excessive printing of dollars by the US government, which has led to an increase in the risk of national debt, inflation, and rising prices, which has deeply troubled many ordinary Americans. It can only be said that during the epidemic, the wealth of the rich in the United States has increased geometrically, so the US government can tax the rich, and indeed it can temporarily collect more wealth to tilt towards ordinary people and help the United States suspend the crisis.
At the root of the problem, the problem of the United States is not only an economic problem, and simply taxing the rich in the United States is not enough to completely get out of the crisis. Moreover, taxing the rich will cause dissatisfaction among the American elite and the chaebols, who are controlled by the big chaebols, who have seized a lot of wealth and lived a superior life. Cutting flesh from them is bound to affect their interests. The wealthy Americans who call for taxes are just a middle class. Getting American billionaires and chaebols to come up with money would be tantamount to harming their interests. Billionaires, of course, will not be willing.
The difficulties encountered by the Biden administration are actually at the top of the United States, and if it were not for the bipartisan struggle in the United States, the Biden administration would have received more financial appropriations. But when the Biden administration proposed the appropriation, the Republican Party in the United States expressed its opposition, and they did not want Biden to always control the power of the White House. And on many issues, Republicans and Democrats are working against each other. Biden will face many challenges if he wants to reshape the United States.
The United States is known as a superpower and seems to have endless wealth, but now it seems that wealth is only in the hands of a few people. Ordinary people are not helped, elites are only concerned with defending their own interests, and if the United States goes astray in the future, I am afraid it is expected.