Reality Sheet: The American Households Plan
The President’s proposal would change the game-by ensuring the wealthiest People play by the same set of rules as all different Americans.It will require monetary institutions to report info on account flows so that earnings from investments and business activity are topic to reporting more like wages already are.It could additionally improve funding within the IRS, while ensuring that the additional resources go toward enforcement in opposition to those with the highest incomes, somewhat than Individuals with precise earnings lower than $400,000. Further sources would concentrate on massive corporations, businesses, and estates, and higher-revenue people. Altogether, this plan would raise $700 billion over 10 years.
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