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Biden is now redistributing: $ 1.8 trillion to families - from income millionaires only

2021-04-29T13:03:28.673Z


President Joe Biden is the wealthy US citizens at the purse. You're supposed to fund a trillion dollar family program. The minimum wage should also rise.


President Joe Biden is the wealthy US citizens at the purse.

You're supposed to fund a trillion dollar family program.

The minimum wage should also rise.

Washington, DC - A small but affluent segment of the US population is said to be funding Joe Biden's family policy reform plans.

To this end, the US president wants to increase the tax on income from the sale of stocks and other assets.

According to media reports, the capital gains tax will practically double from 20 percent to 39.6 percent.

Brian Deese, economic advisor at the White House, explained the plan in more detail on Monday.

The tax increase should therefore only affect those citizens who earn more than one million dollars a year.

500,000 households would be affected, which corresponds to 0.3 percent of taxpayers.

The proceeds will be used to pay for a $ 1.8 trillion family program that includes nationwide child relief, paid parental leave, and free public schools.

Biden wants to increase taxes for the wealthy - and also expand the infrastructure

Biden will present details of this project in a speech to both chambers of the US Congress on Wednesday.

"This will be a plan that will provide important support to children and families and, along the way, important support for our economy," says Deese.

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US President Joe Biden plans to launch a trillion-dollar family program

© Evan Vucci / dpa / AP / picture alliance

Biden has previously stated that the wealthy must pay "their fair share" to support his political priorities.

Despite criticism from Congress and business, he does not deviate from this statement.

The US president, on the other hand, receives support from the population, most of whom support him, according to survey results.

The family program follows an infrastructure program with a budget of $ 2 trillion.

The new roads or rails are to be partially financed by an increase in corporate tax.

Biden plans to increase this from 21 percent to 28 percent.

Minimum wage increase: US government contractors make more money

As early as Tuesday, Biden wants to redeem another campaign promise, albeit only partially. In the Senate, his attempt to raise the minimum wage for all citizens nationwide to $ 15 an hour had failed. At least the contractors of the US federal government, such as cleaners or craftsmen, should now receive this benefit. To this end, Biden will sign an order that will raise the minimum wage from just under eleven dollars to 15 dollars.

The goal is that "hundreds of thousands of workers no longer have to work full-time and still live in poverty," said an official who presented the measure.

The increase should take effect from the beginning of next year.

The White House assumes that the project will be cost-neutral for the taxpayer due to higher productivity.

(

AFP / dpa / mh

)

List of rubric lists: © Evan Vucci

Source: merkur

All news articles on 2021-04-29

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