Biden "Billionaires" Tax

For those rooting for this and are not worth > $100m, add a new zeroes to your net worth and see how you feel when you drop into range.

And they will define “billionaire” as someone with assets exceeding $1mm in its next iteration. Plus they will start taxing unrealized gains of all taxpayers at some point.

People forget that AMT was supposed to impact only a tiny sliver of “very rich” segment of population when it was enacted. Now it affects almost all upper middle class & higher income tax payers. The govt accomplished this by never indexing thresholds to inflation.

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