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Kiplinger
Kiplinger
Business
Kelley R. Taylor

Could a New Billionaire Tax Plan Put $3,000 in Your Pocket?

Elon Musk Ro Khanna United States Tesla Inc. Bernie Sanders Amazon Jeff Bezos California capital gains
Dollars falling into a wheelbarrow.

Billionaires and wealth taxes are in the news again. This time, Sen. Bernie Sanders (I-Vt.) and Rep. Ro Khanna (D-Calif.) have unveiled a proposal for a 5% annual wealth tax on the richest Americans.

The Make Billionaires Pay Their Fair Share Act would apply to approximately 938 billionaires in the United States, who are reportedly collectively worth $8.2 trillion.

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