Bernie Sanders offers bill to tax Billionaires wealth gains during pandemic

[NewYorkExpress]

https://thehill.com/homenews/senate/510939-sanders-offers-bill-to-tax-billionaires-wealth-gains-during-pandemic

Sen. Bernie Sanders (I-Vt.) on Thursday introduced legislation to impose a 60-percent tax on billionaires’ wealth gains from March 18 through the end of the year, and to use the revenue raised by the tax to direct Medicare to pay all Americans’ out-of-pocket health-care expenses for a 1-year period.

The bill from Sanders, a prominent progressive and runner-up in the 2020 Democratic presidential primary, connects two of his longtime priorities: reducing inequality and providing federal health-care coverage for all Americans.

Sanders said Thursday that the measure is designed to help people who are struggling during the pandemic.

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Sanders introduced the bill along with Sens. Ed Markey (D-Mass.) and Kirsten Gillibrand (D-N.Y.).

I like the idea, but there's no way it's passing the Senate. I'm not even sure it would pass the Senate if Democrats had the majority.

I am proud of Senator Gillibrand (my junior Senator) for co-sponsoring, though.

[NewYorkExpress]

Anybody who was crying about a wealth tax last year looks like a damn fool. Bezos lost 25% of Amazon in a divorce and is richer today than he was before the divorce, He's also sold large chunks of his shares too and yet he's richer than ever. A wealth tax as proposed by Elizabeth Warren on 2% over $50 million and 6% over a billion is needed.

Not high enough.

Needs to be 100%.