Showing posts with label wealth tax. Show all posts
Showing posts with label wealth tax. Show all posts

Friday, March 13, 2026

How some states are reviving a push to tax the rich | PBS News

In Michigan, organizers are working to collect enough signatures to get a ballot initiative in front of voters in November asking them to approve replacing the state's current flat tax. Under the proposal, Michigan would place an additional 5% tax on those who make over $500,000 individually or $1 million for joint filers. The initiative, which is backed by the state's board of education, would direct the new revenue to help fund K-12 schools...

https://www.pbs.org/newshour/nation/how-some-states-are-reviving-a-push-to-tax-the-rich 


 

Thursday, February 19, 2026

Sanders and Newsom clash over proposed tax on California's billionaires | PBS News

Newsom has long opposed state-level wealth taxes, believing such levies would be disadvantageous for the world's fourth-largest economy. At a time when California is strapped for cash and he is considering a 2028 presidential run, he is trying to block the proposal before it reaches the ballot. 

Analysts say an exodus of billionaires could mean a loss of hundreds of millions of tax dollars for the nation's most populous state. But supporters say the funding is needed to offset federal cuts that could leave many Californians without vital services...

https://www.pbs.org/newshour/politics/sanders-and-newsom-clash-over-proposed-tax-on-californias-billionaires 


 

Sunday, August 17, 2025

How Spain put up wealth taxes - without chasing away the billionaires

What is clear is that, two years on, a predicted exodus of the rich, trumpeted in endless alarmist headlines, has not materialised. Forbes counted 26 Spanish billionaires in 2021. This year, it lists 34, with a combined net worth comfortably over $200bn... 

"Cutting public services in order to fund tax breaks, or simply balance the books, can create a doom loop…"

https://www.theguardian.com/politics/2025/aug/16/spain-put-up-wealth-taxes-pandemic-billionaires-stayed


 

Wednesday, April 23, 2025

Trump’s advisers split over higher taxes on millionaires - The Washington Post

"This guts the AOC-Bernie 'oligarchy tour,'" Bannon said, referring to the populist rallies being held by Rep. Alexandria Ocasio-Cortez (D-New York) and Sen. Bernie Sanders (I-Vt.). Bannon has been trying to convince Republicans to embrace higher taxes on the rich since Trump's first term. "Politically, it's game, set, match — it's a no-brainer. This would destroy the Democrats.".

 

Thursday, March 28, 2024

Democrats tout new ways to tax the wealth of the super-rich - The Washington Post

Earlier this month, President Biden unveiled a budget plan that proposes to raise more than $4.5 trillion in new taxes over the next decade, largely by targeting corporations. While repeating his pledge that families making less than $400,000 a year should not pay more tax, he revived and expanded upon an idea that Democrats have been kicking around for more than a decade: a minimum tax on the ultrawealthy…


Tuesday, March 12, 2024

Biden’s Budget Calls for Tax Increases on Corporations and the Wealthy - The New York Times

The proposal would impose a 25 percent "billionaire tax" on individuals with wealth, defined as the total value of their assets, of more than $100 million. The goal is to prevent the wealthiest Americans from employing tax strategies that allow them to pay lower tax rates than those of middle-class households...

Biden calls for broad new social programs, higher taxes on corporations and the wealthy - The Washington Post

President Biden laid out an election-year blueprint Monday for sweeping new federal spending to lower consumer costs for health care, child care and housing — and enough new taxes on the wealthy and major corporations to pay for those proposals and still shave $3 trillion off the national debt over the next decade...







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