Well, howdy there internet people, let's bow again. So shortly after filming the last

video on Biden's budget, got another piece of information and while I'm still not sure if this is going to

show up in the budget proposal or this is going to be something separate it is

definitely worth covering because in that first video I talked about two things

that the that I thought was going to get a lot of attention, there's also this.

It's being suggested that the Biden administration

is going to suggest a billionaire's tax,

a minimum tax rate on income for billionaires.

So if you are part of that 0.01%,

you will have a minimum tax rate of 25%. That's the way it's being explained to me.

And this is on new income during that year, no matter what, 25%.

Obviously there's going to be push back against that if you are

from people that have deep pockets,

those are going to be people who care about it.

I would suggest that if you are lucky enough

to fall into this category, maybe it's okay.

Now, everything else from that first video still applies to this though.

It's a proposal. It's really cool to see something like this actually suggested.

At the same time, the president doesn't make these rules.

This is something that we'll have to go through Congress.

The idea that a bunch of billionaires are going to allow a billionaire tax to go through seems pretty

slim.

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