president Joe Biden proposed a 2023 budget to the US Congress starting at $5.8 trillion (5,200 billion euros), including an increase of 9.8% of military spending. The budget for defense and armaments would therefore increase by $69 billion to $773 billion. Almost seven billion dollars would go to Ukraine and NATO. Biden spoke of “one of the largest national security investments in history, with the resources needed to ensure our military remains the best prepared, best trained and best equipped in the world.” On the other hand, no additional funds are foreseen Coping with the Pandemic.
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White House unveils billionaire unrealized capital gains tax expected to be $360 billion over 10 years
The “billionaire tax” sets a minimum rate of 20% for Americans who have it over $100 million, 0.01% of the population. Gains from the appreciation of financial holdings (which are not subject to withdrawal until the holding is sold) would also be taxed. The White House expects revenues of $360 billion from these measures over the next 10 years. According to economists’ calculations, the new tax regime will force the billionaire Elon Musk The Amazon founder pays 50 billion dollars more to the tax authorities jeff bezos it will pay $35 billion more in taxes. Biden confirmed plans to increase tax rates for families earning over $400,000 a year and the increase 21 to 28% the levy on corporate profits.
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