Enough small changes

Liberals actively promote his proposal to tax at a rate of 70% income in excess of $ 10 million, and the inheritance tax to increase to 77%.

However, at the same time, the Congressional Budget Office (CBO) suggest that such large-scale reform is not required — it is only possible to introduce a small tax on the sale of securities and other assets to the Treasury income increased by billions of dollars a year.

In December unveiled the project was to reduce the Federal budget deficit, according to which in the period 2019-2028 years, the introduction of such a levy of just 0.1 percent will produce additional 777 billion. And even though in times of economic downturns, the activity on exchanges is reduced, the average annual income will amount to nearly 78 billion dollars.

Such a tax on financial transactions existed from 1914 to 1965, and now it can become the largest source of revenue that will provide exactly the richest Americans. They are the main holders of shares, and given that the weekly of the transaction taking place, with billions of shares, even a small tax will be able to give an impressive result. Thus, according to the Tax Policy Center, if the rate is set at 0.34 percent, revenues would amount to about 0.4% of gross domestic product.
Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button