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2024-08-23 09:50:00
The official source is "General Explanations of the Administration’s Fiscal Year 2025 Revenue Proposals" [Link] [see pp81-85] A 25% tax is imposed on wealth >$100 million ... ONLY if the wealth is "liquid' (e.g. NOT equity in startups). They expect <10K people to be affected.
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2024-08-26 11:51:47
Small business will not be affected. The official source is the "General Explanations of the Administration’s Fiscal Year 2025 Revenue Proposals" home.treasury.gov/system/files/1… "A 25% minimum tax is imposed on the total income of taxpayers with wealth exceeding $100 million." Page 83
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