Photo by berniesanders.com via Getty Images
Jeff Bezos, CEO of Amazon, Elon Musk, head of Tesla, and Mark Zuckerberg of Facebook would have to pay tens of billions of dollars in taxes under a law introduced by Democratic Senators Bernie Sanders, Ed Markey and Kirsten Gillibrand on Thursday. The Make Billionaires Pay Act would impose a one-time tax of 60% on capital gains that billionaires did during the Coronavirus pandemic.
The emergency tax would apply between March 18 and the beginning of 2021 and would be used to cover the necessary health expenses of the uninsured and underinsured (including prescription drugs) for one year.
For more of it
Subscribe to the CNET Now newsletter to receive the most important stories of the day from our editors.
"In a time of tremendous economic pain and suffering, we have to make a fundamental decision," Sanders said in a statement. "We can still allow the very rich to get much richer while everyone else gets poorer. Or we can tax the profits of a handful of billionaires made during the pandemic to improve the health and well-being of tens of millions of Americans . ""
Neither Amazon, Tesla nor Facebook immediately responded to requests for comments.
Source link