Growing push in the US to tax the ultra-wealthy as billionaires expand fortunes
CA, 08 Nov 2021
Multi-billionaires like Elon Musk and Jeff Bezos are seeing their fortunes rapidly expand.
In 2021 so far, the collective wealth of both Musk and Bezos has risen by $140 billion. Yet the ultra-wealthy are still often taxed in the United States at lower rates than the average person.
That's why some U.S. lawmakers are floating the idea of a "billionaires' tax" — one that could pay for trillions of dollars in planned spending. Jackson Proskow looks at the proposed idea that's gaining momentum, aimed at the country's richest people.
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In 2021 so far, the collective wealth of both Musk and Bezos has risen by $140 billion. Yet the ultra-wealthy are still often taxed in the United States at lower rates than the average person.
That's why some U.S. lawmakers are floating the idea of a "billionaires' tax" — one that could pay for trillions of dollars in planned spending. Jackson Proskow looks at the proposed idea that's gaining momentum, aimed at the country's richest people.
For more info, please go to https://globalnews.ca
Subscribe to Global News Channel HERE: http://bit.ly/20fcXDc
Like Global News on Facebook HERE: http://bit.ly/255GMJQ
Follow Global News on Twitter HERE: http://bit.ly/1Toz8mt
Follow Global News on Instagram HERE: https://bit.ly/2QZaZIB
#GlobalNews
