'It's time to fork out': Sanders proposes new income tax during a pandemic - ForumDaily
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'It's time to fork out': Sanders proposed a new income tax during the pandemic

Democratic Senator Bernie Sanders, who ran for the Democratic nomination for the 2020 presidential election, has proposed a 60 percent tax on billionaire wealth gains during the pandemic. "Voice of America".

Photo: Shutterstock

Sanders suggests using the funds thus obtained to pay for Americans' health expenses for a year that are not covered by health insurance.

“Billionaire Wealth Gain During Pandemic: Jeff Bezos +$71 Billion; Walton family +$21 billion; Mark Zuckerberg: +$38 billion. By imposing a 60% tax on the wealth gains of 467 billionaires, we can cover Americans' direct health costs for an entire year,” the senator tweeted.

Photo: twitter.com/BernieSanders

Sanders also calculated how much wealthy Americans would have to pay in taxes. Amazon owner Jeff Bezos would have to make a one-time payment of $42,8 billion, Elon Musk - $27,5 billion, Mark Zuckerberg - $22,8 billion.

“At a time of extreme economic pain and suffering, we are faced with a fundamental choice,” The Hill quoted the Democratic lawmaker as saying. “We can continue to allow the rich to get even richer while everyone else gets poorer. Can we tax the winnings of a handful of billionaires to improve the health and well-being of tens of millions of Americans?”

On the subject: How to effectively manage money: tips from an American billionaire

Sanders' proposal was supported in the MoveOn political campaign.

“It’s time for the super-rich to cash in,” the organization tweeted.

The coronavirus pandemic in the United States is accompanied by a significant contraction of the American economy. According to the US Department of Commerce, in the second quarter of 2020, the country's GDP contracted by almost 33%.

“The economic shock in April, May and June was more than three times worse than the previous record of 10% in 1958 and almost four times worse than the worst quarter of the Great Depression,” NPR notes.

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In the U.S. billionaires wealth pandemic
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