When it it is really more like this,
This is from a man who has not worked for anything in his life.
Posted on 08/07/2020 6:49:15 PM PDT by SeekAndFind
Top tech leaders and other billionaires would be forced to hand over billions of dollars in wealth they've gained during 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" would impose a one-time 60% tax on wealth gains made by billionaires between March 18, 2020, and Jan. 1, 2021. The funds would be used to pay for out-of-pocket health-care expenses for all Americans for a year. As of Aug. 5, the bill would tax $731 billion in wealth accumulated by 467 billionaires since March 18, according to a press release. If passed, the bill would tax billionaires on wealth accumulated through the end of the year, however.
Under the bill, tech and other business titans who have seen their wealth shoot up during the pandemic would take huge charges. Amazon and Walmart, for example, have both seen their stocks grow as Americans increasingly relied on their services during stay-at-home orders during the pandemic.
That added billions of dollars in wealth for their top shareholders, Amazon CEO Jeff Bezos and Walmart founding family the Waltons, respectively.
Here's how much some would pay under the bill due to wealth gains between March 18 and Aug. 5, according to a release accompanying the bill:
* Amazon CEO Jeff Bezos would pay a one-time wealth tax of $42.8 billion.
* Tesla and SpaceX CEO Elon Musk would pay a one-time wealth tax of $27.5 billion.
* Facebook CEO Mark Zuckerberg would pay a one-time wealth tax of $22.8 billion.
* The Walton family would pay a one-time wealth tax of $12.9 billion.
Those figures could rise (or lower) as the effect of the pandemic on the billionaires' wealth changes over the rest of the year.
(Excerpt) Read more at msn.com ...
You stand accused of committing common sense.
“One time.....Tax”
Suuure - and a lot of them “temporary” taxes have gone away just as promised....
Yes - I was hoping for a total estimated amount of tax revenue from this scheme. I seem to recall a year or more ago about how even if you taxed “rich people” at some huge amount, it would still take hundreds of years to reduce our deficit.
I still like to think that 60’s song was actually conservative and sarcasm.
“Tax the rich
Feed the poor
Till the rich
Are rich no more.”
He kept inventing, growing his business, manufacturing it locally, etc. He had a nice home but nothing compared with the rich of today. I asked him once about his old big Cadillac convertible that he babied. (He would wash it and wax it himself.) “Oh - my son told me I needed something newer with more pizzaz - he got me a BMW to drive. I still like the Cadillac better!”
He always had very nice yachts too. I'm not sure if he did it with all of them, but one of them he donated to the local university for ocean research.
Such a super nice, humble guy.
He may be, but he earned every cent by providing a service that people willingly pay for. Nothing is preventing you from doing the same thing; any form of jealousy is not good for your mental health.
Thank you.
Kill the goose and pocket the egg. Bernie is Humpty Dumpty.
I’m pretty sure that is a universal truth.
and yet these billionaire fools will do all in their power to destroy President Trump and help elect a Marxist government ... elitist fools continuing the tradition of manufacturing the rope that will be used to hang themselves with ...
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