How Biden’s billionaire tax would hit the wealthy
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Under Biden's plan, wealthy individuals would owe taxes on the unrealized gains of their assets, in addition to realized gains, a change that would upend long-standing tax principles.
President Joe Biden’s proposal for a “Billionaire Minimum Income Tax” raised a number of questions among America’s ultra-rich and those advising them.
Chief among their concerns: How would it work in practice, and what are the chances it actually becomes law?
The plan, which would tax
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