Biden proposes billionaire tax to pay for increased spending on military, public health

Megan Michaud, vice president of programs and policy with the Maine Center for Economic Policy, said by closing offshore tax loopholes and taxing the unrealized capital gains on the investments of people with ultra-wealth, Biden’s proposal is projected to raise $361 billion over 10 years.

“This bold plan strengthens the tax code, creates a fairer economic system, and will help provide all Maine people and communities with resources to achieve economic stability and opportunities to thrive,” Michaud said.

Click here to read the full story, first published March 29, 2022, in Beacon.