How Biden’s proposed billionaire tax impacts the average American

Tax refund
Photo credit Getty Images

In March, President Biden proposed the Billionaire Minimum Income Tax, which would serve as a way to bring down the federal budget deficit and seal any loopholes the rich relied on to lower their tax bills.

“Another way to be more equal is to make the tax base broader so that more income is subject to tax,” Alan Auerbach, a professor of economics at University of California, Berkeley and the director of the Center for Tax Policy, told us on “Connect the Dots” this week.

“That's what this proposal would do,” said Auerbach.

On this week’s episode, we’ll explore how Biden’s proposal could impact the billionaires themselves and how it may help the average American taxpayer.

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We will also speak with Dr. Tim Libretti, a Politics USA contributing writer, professor and associate dean of English for the College of Arts and Sciences at Northeastern Illinois University, about how political messaging influences the way we think about taxes in the U.S.

Listen to hear if Biden’s proposal could make the tax system more equal.

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Featured Image Photo Credit: JJ Gouin/ Getty Images