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It is being noticed that headlines about Biden's 'billionaire' tax are inconsistent with reported details of the plan

President Joe Biden, according to multiple reports, will propose a “Billionaire Minimum Income Tax” as part of his 2023 budget. It is being noticed that headlines describing the tax plan, using the word “billionaire,” are inconsistent with its reported range, which goes beyond billionaires to affect “all American households worth more than $100 million.”

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The New York Times story headline reads, “Biden to include minimum tax on billionaires in budget proposal.” Similarly, the Washington Post headlines its story, “President Biden to unveil new minimum tax on billionaires in budget.”

An excerpt from the Post story illustrates the contradiction:  “The “Billionaire Minimum Income Tax” plan under President Biden would establish a 20 percent minimum tax rate on all American households worth more than $100 million.”

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If details of the reports are accurate, the direct effect of the ‘Billionaire Minimum Income Tax’ proposal from the Biden administration will extend beyond billionaires to all households worth more than $100 million. That is not to mention the indirect effect such a tax would have upon households of all income levels.

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