The rich would be hit in a variety of ways under the proposal advanced by the House Ways & Means Committee.
All told, the legislation would bring in an additional $1 trillion in revenue from high-income Americans, according to the committee.
“I’m not out to punish anyone. I’m a capitalist. If you can make a million or a billion dollars, that’s great,” Biden said in an economic speech Thursday. “All I’m asking is you pay your fair share. Pay your fair share just like middle-class folks do. But that isn’t happening now.”
Here are three things to know about the very rich:
1. It took $540,000 in…
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