Search
AI-powered search, human-powered content.
scroll to top arrow or icon

{{ subpage.title }}

How the Democrats plan to tax the rich; Newsom wins CA recall
How the Democrats Plan to Tax the Rich | Newsom Wins CA Recall | US Politics In :60 | GZERO Media

How the Democrats plan to tax the rich; Newsom wins CA recall

Jon Lieber, head of Eurasia Group's coverage of political and policy developments in Washington, shares insights on US politics:

Will the House Democrats actually be able to "tax the rich"?

The answer to that question is yes, the House Democrats this week rolled out a proposal in order to partially finance their plans to spend $3.5 trillion. The tax proposal is notable for three things. One, while it does raise taxes on corporate America, including the corporate rate (that's 26.5% from 21% today), it goes a little bit softer on them than a proposal from Senate Democrats or from the Biden administration who wanted to be much more aggressive in going after the overseas earnings of US multinational corporations.

Read moreShow less

Subscribe to our free newsletter, GZERO Daily

Latest