Best tech leaders and other billionaires are made to hand over billions of dollars in wealth they’ve gained through the coronavirus pandemic under a new bill introduced by Sens. Bernie Sanders, I-Vt., Ed Markey, D-Mass., and Kirsten Gillibrand, D-N.Y.
The “Make Billionaires Pay Act” will inflict a one-time 60% taxation on wealth earnings made by billionaires involving March 18, 2020, and Jan. 1, 2021. The funds could be utilized to cover out-of-pocket health-care costs for many Americans to get a year. As of Aug. 5, the bill would tax $731 billion in wealth gathered by 467 billionaires because March 18, according to a media release. If passed, the bill would tax billionaires on riches accumulated through the end of the calendar year, however.
Some folks may think that this seems like a nice and rational idea to get a society in which being a billionaire is inherently untrue since it is not possible to achieve without concealing or concealing labour and products. Others may argue that it is poor as what if *Imake thousands of dollars throughout a worldwide pandemic with unprecedented unemployment and they taxation those particular profits time to assist people and do not touch the remainder of my cash? And who’s to say which side is ideal.
Sen. Sanders suggests one-time taxation which could price Bezos $42.8 billion, Musk $27.5 billion [Lauren Feiner / CNBC]
Picture: James Duncan Davidson / Flickr (CC 2.0)
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