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“Make Billionaires Pay Act” Would Tax Richest 0.001% to Fund Healthcare for Millions

HeadlineAug 07, 2020

The Labor Department reported Thursday that 1.2 million U.S. workers filed for state unemployment benefits last week, the lowest total since March, but still an extraordinary level by historical standards.

On Thursday, Senators Bernie Sanders, Ed Markey and Kirsten Gillibrand introduced the Make Billionaires Pay Act, a 60% tax on over $700 billion in windfall profits made this year by the top 0.001% of Americans. Senator Sanders wrote, “We can continue to allow the very rich to get much richer while everyone else gets poorer and poorer. Or we can tax the winnings a handful of billionaires made during the pandemic to improve the health and well-being of tens of millions of Americans.”

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