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10/29/21

The Billionaire Tax: How Much Elon Musk, Mark Zuckerberg, And Jeff Bezos Would Have Owed | Forbes



Democrats have already nixed a contentious plan to tax the wealth of roughly 700 billionaires, Rep. Richard Neal (D-Mass.) confirmed Wednesday, after moderate Sen. Joe Manchin (D-W.V.) voiced concerns earlier in the day over the proposed provision in President Joe Biden’s spending package. The senator’s comments came less than six hours after Sen. Ron Wyden (D-Ore.), chair of the Senate Finance Committee, released legislative text for the proposed billionaire income tax, which would have required billionaires and Americans making more than $100 million annually to pay a long-term capital gains tax on unrealized profits. Read the full story on Forbes: https://bit.ly/3mpG3E8 Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1 Stay Connected Forbes newsletters: https://bit.ly/3vYbloI Forbes on Facebook: https://bit.ly/2N9bmUZ Forbes Video on Twitter: http://www.twitter.com/forbes Forbes Video on Instagram: https://bit.ly/1vURAdM More From Forbes: https://bit.ly/3eurPhL Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.


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