Elon Musk Faces Massive Annual Tax Bill in Sanders' Radical Billionaire Tax Proposal
Sen. Bernie Sanders and Rep. Ro Khanna have proposed a groundbreaking 'Make Billionaires Pay Their Fair Share Act,' aiming to impose a 5% annual wealth tax on net assets exceeding $1 billion. This initiative targets around 938 billionaires, including big names like Elon Musk, Jeff Bezos, and Mark Zuckerberg, with the goal of generating $4.4 trillion over a decade. The revenue will fund social programs such as $3,000 cash payouts to households earning under $150,000, Medicare expansion, and educational reforms.
Mar 17