The increase in US billionaire wealth has surpassed $1.1 trillion since mid-March, 2020, more than enough to pay for all the relief for working families contained in the $1.9 trillion coronavirus relief package proposed by President Biden.
Some problems can only be solved when public officials have the resources to act. Today’s public health crisis is that kind of problem. The current disaster threatens our health and our economy.
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"It's simple. The majority of Americans believe that we should tax the rich."
Elizabeth Warren and Bernie Sanders have proposed wealth taxes on the biggest fortunes in America. The White House and lots of billionaires are attacking them for it. But guess what: You'll be surprised who supports it.
This modest-sounding proposal would have a far-reaching impact on the wealthiest Americans when combined with her other tax plans — shrinking colossal fortunes over time and making it much more difficult to hand down multibillion-dollar legacies
For Warren, a wealth tax is primarily a path to revenue, while Sanders emphasizes reducing the economic power of billionaires as a class
Supporting labor battles is at the center of the Bernie Sander's campaign. At a Chicago teachers rally he stated, “the only way to win prosperity for working people is when we significantly increase membership in trade unions all across America.”
Mr. Sanders is embracing an idea at the center of Elizabeth Warren’s presidential campaign. His proposal goes further in who would be taxed and how much money would be raised.
A radical idea is gaining adherents on the left. It’s the perfect way to blunt tech-driven inequality.
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