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Biden is still undecided on wealth tax, Treasury Secretary Yellen says

Dow Jones2021-03-15

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.

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Comment5

  • pwlim
    ·2021-03-15
    Nice!
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    • atf_nato
      [财迷]
      2021-04-02
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    • atf_nato
      ...
      2021-03-20
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    • Ajloo
      Excellent
      2021-03-16
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  • KL123
    ·2021-03-15
    Nice !
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  • Yanski
    ·2021-03-15
    [捂臉] 
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  • Xav
    ·2021-03-15
    Decide already
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  • hellotomato
    ·2021-03-15
    Hmm
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    • MarkJuan
      Why hmm?
      2021-03-15
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