The Biden administration is proposing a new wealth tax targeting Americans with a net worth of $100 million or more. Under the proposed plan, these high-net-worth individuals would be required to pay a 25% tax on their wealth.
Yahoo Finance’s Rebecca Chen breaks down the details, discussing how wealthy individuals often avoid paying higher tax rates.
For more expert insight and the latest market action, click here to watch this full episode of Wealth!
Editor’s note: This article was written by Angel Smith
Source Agencies