Suckers like Coke and Nike begged to lose their own money. How stupid.
Treasury Secretary Janet Yellen signaled the administration is open to new corporate taxes but dismissed the idea of a ‘wealth levy,’ saying President Joe Biden opposes it.
Yellen said Biden favors boosting taxes on companies and could raise rates on capital gains, noting the idea was ‘worth considering.’
The administration is looking to boost the corporate tax to 28 per cent, Yellen noted.
But she ruled out a wealth tax – an idea favored by progressives.
‘A wealth tax has been discussed but is not something President Biden’ favors, Yellen said at a virtual Dealbook/DC Policy Project conference Monday hosted by the New York Times.