Former President Trump has proposed raising the top tax rate for multi-millionaires to 39.6% targeting those earning over $2.5 million annually. This initiative aims to reverse cuts made in 2017 and aligns with his broader tax agenda.
Trump's plan faces significant opposition from Republican lawmakers, who traditionally resist tax hikes. This resistance complicates the likelihood of bipartisan support needed for the proposal's approval in Congress.
Historically, the highest U.S. income tax rate was 70% in the 1970s, illustrating the evolving landscape of tax policy and political divisions regarding tax increases among high earners.
Full story here: https://coincu.com/336493-bitcoin-surge-institutional-interest-regulatory-clarity-2
