Billionaire tax proposal - Oscar night slap - Removing Vladimir Putin

Called the “Billionaire Minimum Income Tax,” it would assess a 20% minimum tax rate on U.S. households worth more than $100 million. Over half the revenue could come from those worth more than $1 billion. The proposed levy is expected to reduce the deficit by about $360 billion in the next decade, according to the document.
...
If a wealthy household is already paying 20% on their full income, they won’t pay an additional tax under the proposal. If they pay less than 20%, they’ll owe a “top-up payment” to meet the new minimum. “As a result, this new minimum tax will eliminate the ability for the unrealized income of ultra-high-net-worth households to go untaxed for decades or generations,” the document stated.
...
What remains to be seen is whether Congress will move forward on Biden’s proposal. Last year, Senate Democrats unveiled a billionaires’ tax, which would have levied the unrealized capital gains of the wealthiest Americans. The measure ultimately did not proceed.