A proposal to tax billionaires is back in the news, although with discouraging words from Sen. Joe Manchin (D-W.Va.), it may be short-lived. But it should be seriously considered, along with other tax policies that capture the untaxed income and wealth of the ultra-wealthy. Taxing billionaires is both good policy and good politics.
President Biden introduced the “Billionaire Minimum Income Tax” as part of his recent budget proposal, to ensure that the wealthiest Americans “pay their fair share.”
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