Democrats are among the doubters of Joe Biden s plan to tax the rich
28 Apr, 2021 01:47 AM
6 minutes to read
Joe Biden s plan is expected to contain a near-doubling of the tax rate on capital gains and dividends for people earning more than US$1 million. Photo / AP
Joe Biden s plan is expected to contain a near-doubling of the tax rate on capital gains and dividends for people earning more than US$1 million. Photo / AP
Financial Times
By: James Politi, Lauren Fedor, Andrew Edgecliffe-Johnson and Michael Mackenzie In April 2011 Barack Obama invoked the support of Warren Buffett, the billionaire investor, to try to persuade Congress to impose a minimum 30 per cent tax on Americans earning more than US$1 million ($1.3m)
Joe Manchin Balks at Biden Infrastructure Plan, Suggests Two Separate Bills
On 4/25/21 at 3:37 PM EDT
West Virginia Democratic Senator Joe Manchin said he supports two separate infrastructure bills rather than President Joe Biden s $1.2 trillion proposal, making a distinction between human and traditional infrastructure definitions.
During a Sunday interview with CNN host Dana Bash, Manchin scoffed at the size of Biden s plan, but said he could get behind two separate bills: one for trains, planes and internet; and a second for medical, human-focused infrastructure.
He complimented Republicans for their $600 billion infrastructure proposal, which he said he is a good start because it s more targeted, not just because it has a smaller price tag. Manchin said there should be a separate human infrastructure plan for items such as Biden s $400 billion in-home care plan, an item currently within the larger $1.9 trillion omnibus bill.