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overwhelming wealth taxYahoo Finance
•80% Informative
President Biden wants to impose a minimum 25% tax on all Americans with assets over $100 million .
Biden says his plan would make the system more fair, but experts say it lacks practicality.
The 25 wealthiest Americans paid $13.6 billion in federal income taxes from 2014 to 2018 .
Critics say the share of federal taxes paid by the top 1% is adequate.
A number of billionaires left Norway in 2022 after the country implemented a 1.1% capital asset tax on married households with equity over $3.7 million .
Ferrigno said the Biden administration should start with a lower tax rate on billionaires, like 10% , and progress from there before landing at 25% .
VR Score
83
Informative language
82
Neutral language
42
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semi-formal
Language
English
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41
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Attention-grabbing headline
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short-lived
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12
Source diversity
10
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