The Billionaires Tax Is Back ...Middle East

Eons ago, in the fall of 2021, congressional Democrats mulled potential revenue streams for the Build Back Better Act, the multitrillion-dollar proposal to overhaul the nation’s social safety net, tax system, and climate policy. For instance, Senator Ron Wyden, the chair of the Senate Finance Committee, proposed a “billionaires income tax” on Americans with more than $1 billion in assets.Fast-forward to 2023: The Build Back Better Act is a footnote in history, an ambitious idea sunk by conservative Democratic Senator Joe Manchin, and Republicans now control the House. But Wyden, along with 16 Democrats, formally introduced the Billionaires Income Tax Act at the end of November this year, off

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