<p>Bloomberg Campaign Says Tax Proposal Would Raise $5 Trillion</p>

Bloomberg Campaign Says Tax Proposal Would Raise $5 Trillion

Mike Bloomberg 2020

In a February 1 release, Democratic presidential candidate Michael Bloomberg proposed a tax plan that would generate $5 trillion in revenue through a tax increase on high-income households, capital gains, and corporate foreign income, as well as remove the passthrough income deduction and increase IRS funding.

<p>In a February 1 release, Democratic presidential candidate Michael Bloomberg proposed a tax plan that would generate $5 trillion in revenue through a tax increase on high-income households, capital gains, and corporate foreign income, as well as remove the passthrough income deduction and increase IRS funding.</p>