The Wealth Proceeds Tax would add a small tax on passive income, like capital gains, above a high threshold. Households with income over $400,000 single or $500,000 married would pay it on passive income above that. Congress wants veto power before DC lawmakers' fall debate.
DC Can Raise $121 Million or More with a Simple Tax on Proceeds from Wealth | DC Fiscal Policy Institute
DC could simply add a local tax of 2 percent, or higher, to that same wealth reported to the federal government to yield substantial new annual revenue
dcfpi.org
