Billionaire Bloomberg proposes tax plan aimed at wealthy
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February 2, 2020
WASHINGTON (AP) — Billionaire Democratic presidential candidate Mike Bloomberg is unveiling a tax plan that would target the wealthy — increasing rates on capital gains and corporate gains as well as introducing a new 5% surtax on incomes above $5 million.
The former New York City mayor has based his plan on its potential to raise enough revenue to finance his proposals for expanding health care, housing, education and infrastructure, among other programs.
"I'm a wealthy guy, I didn't need a tax cut and so we're going to have to put a little of that back," Bloomberg said Saturday at a campaign...
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