Reported about 8 hours ago
In a recent commentary, Rick Newman argues that while President Trump's proposed tax increase for individuals earning over $2.5 million is a step in the right direction, it falls short of what is necessary to address the nation's revenue needs. The proposed millionaire tax could generate only $2.2 billion annually, which is negligible compared to the government's $6.9 trillion spending. Newman suggests that expanding the tax bracket to those earning $1 million or more could yield significantly more revenue and aligns with public sentiment favoring higher taxes on the wealthy. Furthermore, with the national debt at an alarming $36.2 trillion, a more substantial tax on the richest Americans may become inevitable to ensure economic stability.
Source: YAHOO