The proposal will affect less than 20,000 households and will only apply to those who do not pay at least 20% tax on a combination of income as usually defined and their unrealized gains on unsold assets such as shares and closed businesses. The plan will generate about $ 360 billion in revenue over 10 years, according to a White House newsletter released ahead of Monday’s full budget proposal. This is about twice as much money as raising the maximum income tax rate to 39.6% from 37%, and it would affect a much smaller group of people.
