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WH economic adviser says tax hike on wealthy could apply to 2021

Apr. 28, 2021 08:13PM EST
 Dan Ackermann

President Biden's proposed tax hikes on the wealthy could apply to at least some 2021 earnings, White House economic adviser Heather Boushey told the Axios Re:Cap podcast on Wednesday.

Why it matters: The administration has said it wants to raise income and capital gains rates on the richest Americans to offset new spending, but has not yet specified when it wants those increases to go into effect.

  • "They will go into effect as Congress pulls together the plans and gets them passed and gets them to the president's desk," Boushey explained.
  • When asked directly if the tax increases could apply to 2021 earnings, she replied: "If Congress were to act that quickly."

Listen to the entire interview:

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TikTok introducing more automation to video removals

TikTok is rolling out a new system that will allow the company to block videos that violate its policies automatically when they're uploaded. The social network is also changing the way it will notify users when their content is removed.

Why it matters: TikTok says the new system will not only improve the user experience, but will help reduce the number of distressing videos (such as those with violent content) that its safety team must review, freeing staff to focus on more nuanced content areas, like hate speech, bullying and harassment.

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