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Treasury Secretary Yellen Says President Biden May Consider Taxing Wealth

The president of the United States, Joe Biden, could consider applying a wealth tax to address the growing budget deficit The nation’s federal federal government, Treasury Secretary Janet Yellen said in an interview with ABC.

Additional comments:

That is something that we have not decided yet and we can analyze“, he said, and pointed out that Biden supported other tax increases during his 2020 presidential campaign, including higher rates for corporations and higher-income individuals.. Those are alternatives that they address and that are similar in their impact to a wealth tax ”.

“The United States government needs to control the deficit in the ‘long term’ and he hopes the Biden administration will take steps to do so. “

“Over time, I hope that we will come up with proposals to control deficits.”

Earlier in the interview, Yellen has said America’s inflation risk remains small and manageable.

The former Fed chair has said: “I don’t think it’s a significant risk“, while having affirmed”and if it does materialize, we will certainly monitor it, but we have tools to address it“.

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