From WSJopinion: The breaks on carried interest and capital gains at death should be eliminated to hit the rich, writes Alan S. Blinder
Journal Editorial Report: Paul Gigot interviews Rep. Kevin Brady of the Ways and Means Committee. Image: Chip Somodevilla/Getty ImagesPresident Biden needs tax revenue to pay for his Build Back Better plan, and he wants to raise most of it by raising taxes on corporations and the rich—both of which got large tax cuts under President Trump. But congressional Democrats are already balking at the White House’s tax-hike proposals.
The draft accepts the global minimum corporate tax rate that Treasury Secretary Janet Yellen painfully and successfully negotiated with 130 countries—yes, 130. It would be a shame to see Congress pull the rug out from under Ms. Yellen’s achievement and at least so far, it hasn’t.
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