The word “billionaire” didn’t even exist until 1844. Fifty years later, we got “multibillionaire,” and for the next 127 years, that was enough. But in 2020, the rich got so much wealthier, we needed a new word: “centibillionaires.”
President Joe Biden released his $5.8 trillion budget for fiscal year 2023 on Monday, including significant funding for the police, in an effort to set himself apart from progressives in his party who have advocated for defunding the police. Biden also called for more defense spending and a new minimum tax targeting the rich.
Madam Speaker, Madam Vice President, our First Lady and Second Gentleman. Members of Congress and the Cabinet. Justices of the Supreme Court. My fellow Americans.
Latest income data published by the IRS proves all income brackets benefited substantially from the Republican tax reform law, especially working and middle-income filers.
Democrats persuade a slim majority to approve the centerpiece of President Biden’s economic agenda, though the bill now faces an evenly divided Senate.
No less than 136 countries have reached a deal that would set a global minimum corporate tax rate of 15 percent. The Organization for Economic Cooperation and Development (OECD) announced the agreement on Friday.
A new congressional report shows that the tax increase bill approved by the House Ways and Means Committee would increase taxes on millions of taxpayers making less than $400,000. That would violate a pledge President Joe Biden has made repeatedly.
“It’s going to cost nothing,” President Biden said of the Democrats’ massive $3.5 trillion spending binge, which House Speaker Nancy Pelosi is scrambling to pass this week.
