.AliVelshi: Taxing ultra-wealthy Americans differently than the rest of us is not a controversial idea.
If the House-passed version of the Build Back Better Act becomes law, it will cost $1.75 trillion dollars to overhaul America’s health care, childcare, education, and climate systems.
And it’s particularly relevant right now because of President Joe Biden’s social spending plan. If the House-passed version of the Build Back Better Act becomes law, it will cost $1.75 trillion dollars to overhaul America’s health care, childcare, education, and climate systems.
The billionaire tax isn’t some socialist hunt ahead of eating the rich. It would only apply to those with more than $1 billion in assets for three consecutive years, or anyone with more than $100 million dollars in annual income. . Increasing taxes marginally on 700 of the richest people in America, each worth more than a billion dollars - would create transformational change for millions.
under the CARES Act of 2020. They didn’t cheat to get it — it just so happens that lots of really rich don’t actually receive much of what the rest of us rely on as income. In the case of each of the 18 billionaires, none took an income greater than $75,000, which entitled them to taxpayer funded relief money.In truth, our system of taxation favors the way rich people get richer off their assets over the way regular people earn a paycheck.
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