Biden Brings Back Wealth Tax

It’s still a horrible idea. From the story: The Treasury Department recently released its explanation of the administration’s FY 2023 revenue proposals. The so-called Green Book lays out exactly how the administration proposes to raise $1.628 billion in new taxes over the next ten years. In addition to raising the corporate-tax rate to 28 percent and pushing the top personal income-tax rate to 39.5 percent, the proposal creates what effectively amounts to a wealth tax. Treasury claims that the new tax will raise $239.5 billion in revenue over the next decade (National Review). 

Ronna McDaniel: Today is Democrats’ favorite holiday – tax day. This year it’s not just the IRS coming for your paycheck, Biden’s inflation tax is negatively impacting every American (Twitter).