Joe Biden propose billionaire income tax to help reduce national deficit | USA TODAY

President Biden called for a new tax on billionaires and more funding for police and the military as part of a $5.8 trillion spending plan.
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President Joe Biden proposed increasing taxes on America's wealthiest households Monday in a budget blueprint that looks to cut the deficit while boosting military spending, funding for cops and a range of domestic priorities, including mental health and housing.

Biden requested a $5.8 trillion budget from Congress for the 2023 fiscal year, which begins in October, that includes $1.6 billion on discretionary programs, a 7% increase over the current year. The linchpin is a new "minimum tax on billionaires" that targets roughly the country's highest 700 earners.

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31 comments

  1. This guy is too old to be a president, we need a strong man like Trump who can think twice before speaking because in reality this guy is speaking nonsense on public television by tarnishing the image of the United States to the eyes of the world

  2. You think things cost high now wait till you raise the tax on those who make everything n run all the companies

  3. Everything reeks inflation in the economy…. I don’t know who, however a person desires to pay attention to this, you have to stop relying on the government and saving all of your money . Venture into making an investment a few in case you actually want monetary freedom

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  5. We need to transfer more wealth and power from the people to the Washington D.C. Oligarchy
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  6. How about you quit spending money like it’s going out of style. 14 months in office and he has spend almost 10 trillion dollars.

  7. Where’s the passports ?

    Too expensive to keep a bank account in US anymore.
    Government taxes you 28% earning the dollar then taxes you another 20% for holding the dollar.

  8. If excess amount of wealth is heavily taxed, they will not be incentivized to take so much from others who have lost their small businesses and self employed enterprises.

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