During a speech in North Carolina, US President Joe Biden proposed to increase taxes for billionaires from 8.2% to 25%, the White House reports.
"If they paid 25%... you know what that would do? It would raise $400 billion over the next 10 years. Imagine what we could do with that. We could fundamentally reduce the federal deficit... We could do so many things... including protect Ukraine from the butcher Putin," Biden said.