The Biden Administration is poised to announce a new tax on the wealthy that could send Elon Musk into orbit.Biden’s “Billionaire Minimum Income Tax” proposal would set a 20 percent tax rate floor on Americans worth more than $100 million — hitting not only their stated income, but also their unrealized gains on stock holdings and other forms of wealth.The plan will be included in the budget proposal that the White House will roll out Monday, the Washington Post reported.
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