During his campaign, President Biden proposed higher taxes on corporate profits, capital gains and dividends, as well as the richest individuals, but didn't endorse a wealth tax
President Joe Biden hasn't proposed a wealth tax and hasn't yet decided whether or not to create one, but it is something the U.S. administration "can look at," said Treasury Secretary Janet Yellen on Sunday .
The outlook: Yellen has never hidden in the past her skepticism toward a wealth tax, if only because of its "very difficult implementation problems, she said in an interview last month . But pressure from the Democratic Party's left could at least force the Biden administration to formally review the idea.
Yellen insisted that the problem of how to finance the $1.9 trillion Biden stimulus isn't a short-term one. But she also suggested that taxes will have to be raised at some point to finance the big public investment effort the administration is planning.