The debate over whether the US should impose a federal tax on wealth has gripped US politics after Democratic candidate for president Elizabeth Warren tabled the plan as one of the pillars of her campaign. Microsoft founder Bill Gates last week questioned whether Ms Warren would be willing to sit down with him to discuss the plan — she responded that she would love to explain to him exactly what he might pay. Most of the US federal government’s revenue comes from taxes on income, such as personal salaries and corporate profits. Read More...
The debate over whether the US should impose a federal tax on wealth has gripped US politics after Democratic candidate for president Elizabeth Warren tabled the plan as one of the pillars of her campaign. Microsoft founder Bill Gates last week questioned whether Ms Warren would be willing to sit down with him to discuss the plan — she responded that she would love to explain to him exactly what he might pay. Most of the US federal government’s revenue comes from taxes on income, such as personal salaries and corporate profits.
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