Category: Business

Taxing the rich, an idea gaining ground in the United States

Taxing the rich, an idea gaining ground in the United States

The Economic Times Long out of favor in the United States, the idea of taxing rich individuals and corporations to pay for healthcare or to combat inequality is gaining ground among Democratic politicians. While the United States reveres free enterprise and is home to the world’s largest number of billionaires, such tax proposals have been gaining traction in political circles in recent weeks. More than one Democratic contender in next year’s presidential elections are campaigning on some plan to tax the wealthy. And they have been encouraged by famous billionaires such as Bill Gates and Warren Buffett, the world’s second...