Pictured: Tesla, SpaceX CEO Elon Musk and US Senator Bernie Sanders

Netease Technology News, August 8, according to foreign media reports, US Senator Bernie Sanders of Vermont and others recently proposed a proposal to impose a one-time heavy tax on the super-rich in the United States. If this proposal is passed by Congress, the richest man in the United States Jeff Bezos (Jeff Bezos), Tesla CEO Elon Musk (Elon Musk), Facebook co-founder Mark Zuckerberg (Mark Zuckerberg) And others, need to pay a one-time wealth tax of tens of billions of dollars.

The proposal is called the "Make Billionaires Pay Act" (Make Billionaires Pay Act), which was led by Sanders, Massachusetts Democratic Senator Ed Markey and New York Democratic Senator Kirsten · Co-proposed by Kirsten Gillibrand. They proposed to impose a 60% tax on the unexpected wealth of billionaires during the ongoing COVID-19 pandemic to cover all out-of-pocket medical expenses for each person in the United States for one year.

The Let Billionaires Pay Act will tax the wealth of US$731 billion accumulated by 467 billionaires in the United States (0.001% of the wealthy in the United States). Between March 18 and August 5 this year, 5.4 million Americans lost their health insurance and 50 million Americans applied for unemployment insurance. The funds obtained from this emergency taxation will be used to pay all necessary medical expenses for uninsured and underinsured persons, including prescription drugs, for a period of one year.

Sanders said: "The proposal we are proposing today will tax the wealth gains made by billionaires during this special crisis to ensure that everyone receives one year of health care services. In a time of great economic pain and suffering. , We must make fundamental choices. We can continue to allow very wealthy people to become richer, while others become poorer and poorer. Or, we can tax the bonuses of a few billionaires during the epidemic To improve the health and well-being of tens of millions of Americans. In my opinion, it’s time for the Senate to act on behalf of the working class, who are suffering unprecedented harm, not the billionaire class, who are doing very well. Never had a good time."

Markey said: "Because more than 160,000 Americans have lost their lives and millions of people have lost their jobs, it is unreasonable for the super-rich to become richer in this crisis. The American people are helping the Trump administration every day. Criminal negligence in the fight against the epidemic pays the price of life, and now is the time for the richest people in the United States to do the same with the extra wealth they have gained."

Gillibrand said: "In this unprecedented economic and public health crisis, millions of Americans are unemployed and unable to make ends meet, while billionaires have become richer. Billionaires are required to pay their fair share, It will help support workers and families to cope with unemployment, food insecurity, housing instability, and healthcare. This is not only a common sense proposal, but also an ethical proposal. Congress should do everything we can to help those struggling American."

According to data from think tanks "Tax Equity Americans" and "Policy Research Institute", from March to August, a 60% tax on the profiteering wealth of fewer than 500 American billionaires will raise 421.7 billion US dollars. According to estimates by the Responsible Federal Budget Committee, this is enough to allow Medicare to cover all out-of-pocket medical expenses for everyone in the United States in the next 12 months. This wealth tax is valid until January 1, 2021.

During the worst economic recession since the Great Depression, the "Let Billionaires Pay Act" will still leave US billionaires with more than $310.1 billion in wealth gains. However, according to calculations:

——The richest man in the United States, Jeff Bezos, will pay a one-time wealth tax of $42.8 billion;

——Tesla and SpaceX CEO Elon Musk's wealth almost quadrupled during the epidemic, and he will pay a one-time wealth tax of US$27.5 billion;

-Facebook co-founder and CEO Mark Zuckerberg (Mark Zuckerberg) will pay a one-time wealth tax of 22.8 billion US dollars;

——The Walton family, the richest family in the United States, will pay a one-time wealth tax of $12.9 billion.

Because Trump offers tax incentives or credits to the wealthy, these billionaires currently pay on average even lower actual tax rates than teachers or truck drivers. Frank Clemente, executive director of "Tax Fair Americans," said: "During the pandemic, everyone has suffered, except for billionaires in the United States. Senator Sanders’ proposal recognizes that the United States A large part of the wealth growth of the richest people during the national emergency should be used to help all of us survive and recover."

Emmanuel Saez, professor of economics at the University of California, Berkeley, said: “The COVID-19 pandemic has further exacerbated inequality. While working-class workers are struggling with unemployment and income loss, billionaires’ wealth has been completely The rebound sometimes far exceeds the level before the epidemic. So far, the US government has borrowed money from the rich to provide relief, and it has also asked the richest people to directly donate to disaster relief efforts. Senator Sanders’ proposal A bold and innovative step has been taken in this direction, paving the way for billionaires to eventually pay their fair share of the huge gains.” (Xiaoxiao)

Source: NetEase Technology Report, translated by Google Translate