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The week's question
In March 2025, in the thread "Re: OT, out", Umm asked the members: "Do you think it is because America is made up of magical soil that makes businesses based in America magically profitable?" This week it is put to everyone again. The button below opens the small thread re-asking it - read what others have said so far, then give your own answer as an ordinary reply.
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Author: Aussi ✧  😊 😞
Number: of 86260 
Subject: Re: Biden Budget
Date: 03/14/24 12:12 PM
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This is a summary of a bill that was introduced in 2022 but not voted on.



Summary: H.R.8558 — 117th Congress (2021-2022)

Introduced in House (07/28/2022)
Billionaire Minimum Income Tax Act

This bill imposes a minimum tax on individual taxpayers whose net worth for the taxable year exceeds $100 million. The tax is equal to 20% of the sum of a taxpayer's taxable income, plus net unrealized gains for the taxable year. The tax may not exceed 40% of the amount by which the taxpayer's net worth exceeds $100 million.



Aussi who is not sure how unrealized gains on non liquid assets such as housing and private businesses would be evaluated.
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This community has written 86,214 posts about US Policy. The article-length ones it recommended most:
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