qwant news | Mark Zuckerberg, Elon Musk Being Taxed Less Than An 'Average Nurse'? Jayapal, Elizabeth Warren Say Not An
Rep. Pramila Jayapal (D‑Wash.) and Sen. Elizabeth Warren (D‑Mass.) are pushing to revive the Ultra‑Millionaire Tax Act, which would levy a 2 % annual tax plus a 1 % surcharge—totaling a 3 % yearly tax—on fortunes exceeding $50 million. The legislation, backed by Rep. Brendan F. Boyle and more than 40 other lawmakers, targets the wealthiest 0.15 % of U.S. households (about 260,000 families) and aims to narrow the racial wealth gap. According to a new analysis, the bill could raise roughly $6.2 trillion over the next decade, funding programs such as universal child care, free community college, and expanded Medicare—all without increasing taxes for the remaining 99.85 % of households.
Earlier in March, Sen. Bernie Sanders (I‑VT) and Rep. Ro Khanna (D‑Calif.) introduced the “Make Billionaires Pay Their Fair Share Act,” proposing a 5 % wealth tax on U.S. billionaires that could generate enough revenue to provide $3,000 payments to millions of Americans. The plan would affect around 938 billionaires and is framed as another effort to curb economic inequality. Meanwhile, JPMorgan Chase CEO Jamie Dimon warned that rising taxes alone would not solve the nation’s challenges, emphasizing that migration from high‑cost states like California and New York to cheaper regions such as Nevada and Florida is already straining major cities and that broader policy reforms and better use of government funds are needed.
The debate unfolds as Washington state recently enacted a millionaires’ tax (Senate Bill 6346) that taxes income over $1 million and directs revenue toward families and small businesses—funding free school meals, expanded tax credits, affordable child care, and eliminating sales tax on diapers and over‑the‑counter drugs. Critics, including Dimon, argue that simply increasing taxes on the ultra‑wealthy may not address underlying systemic issues, while proponents contend that these measures are essential to reduce the stark wealth disparity highlighted by the fact that billionaires such as Meta’s Mark Zuckerberg, investor Warren Buffett, media mogul Michael Bloomberg, and Tesla’s Elon Musk are taxed at lower effective rates than an average nurse.
Read more: https://www.benzinga.com/news/politics/26/04/51644811/mark-zuckerberg-elon-musk-being-taxed-less-than-an-average-nurse-jayapal-elizabeth-warren-say-not-anymore
#markzuckerberg #pramilajayapal #elizabethwarren
Peter Link 🍉🇨🇺🇵🇸🐧
Techdirt
TheBadPlace
Voteinorout 🇺🇸
Spocko
Advocate.com
MusiqueNow 
✡️ 🇵🇸 
bill.
