On this edition of Your Call’s Media Roundtable, we discuss President Biden’s proposed wealth tax, which calls for a minimum 20 percent tax on households worth more than $100 million.
According to the White House factsheet, in 2021 alone, America’s more than 700 billionaires saw their wealth increase by $1 trillion, yet in a typical year, billionaires would pay just eight percent of their total realized and unrealized income in taxes. A firefighter or teacher can pay double that tax rate.
Guest:
Jesse Eisinger, Pulitzer Prize-winning senior reporter for ProPublica and author of The Chickenshit Club: Why the Justice Department Fails to Prosecute Executives
Web Resources:
ProPublica: Taking Aim at Billionaire Tax Avoiders, Biden Proposes Minimum Tax for Ultrarich
ProPublica: The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax
The New York Times: Billionaire’s Tax Isn’t as Crazy as It Sounds
The New York Times: Inside the IRS Files of the Ultra-Wealthy
Boston Review: Taxing the Superrich