News > Bernie Sanders wants to make US billionaires pay

Bernie Sanders wants to make US billionaires pay

International Business Times | 09/08/2020 08:28 AM | Click to read full article

Three Senators, led by Bernie Sanders, have attracted global attention for introducing the "Make Billionaires Pay Act," aiming to tax US tech's top leaders' wealth made during the coronavirus pandemic.

The Act would impose a one-time 60 percent tax on wealth gains made by billionaires between March 18, 2020, and January 1, 2021. The Senators suggest that funds would be used to pay for out-of-pocket health-care expenses for all Americans for a year.