While tens of millions of Americans are now facing economic desperation – unemployment, loss of healthcare, evictions, hunger – the very rich are becoming much richer. According to Americans for Tax Fairness, imposing a 60% tax on the wealth gains made by just 467 billionaires in America would raise over $420bn. That’s exactly what the Make Billionaires Pay Act I recently introduced with Senators Ed Markey and Kirsten Gillibrand would accomplish. Or we can tax the winnings a handful of billionaires made during the pandemic to improve the health and wellbeing of tens of millions of Americans. Making billionaires pay to expand Medicare to all during a public health emergency is a good place to start.

Source: The Guardian August 11, 2020 10:07 UTC