Today, with @SenMarkey and @SenGillibrand, I am introducing a 60% tax on the obscene wealth gains of 467 billionaires during this pandemic in order to guarantee healthcare as a right to all for an entire year. #MakeBillionairesPay https://t.co/6BxIHVTYvF
— Bernie Sanders (@SenSanders) August 6, 2020
Vermont Senator and former presidential candidate Bernie Sanders is proposing a one-time tax on the nation’s billionaires to pay for health care for all Americans for one year.
The tax would be a one-time 60% levy on wealth gains made by billionaires between March 18, 2020 and Jan 1, 2021.
As of August 5, such a tax would be imposed on $731 billion in wealth accumulated by 467 billionaires since March 18 (although if enacted, the tax would on wealth accumulated through the end of the year).
Notably, the bill would raise $42.8 billion from Amazon Founder and CEO Jeff Bezos and $27.5 billion from Tesla CEO Elon Musk.
The bill was introduced by Sanders, Sen. Ed Markey, (D-MA) and Sen. Kirsten Gillibrand, (D-NY).