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Could a 5% Wealth Tax Reshape Billionaire Fortunes in America?
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Subscribe05 MAR 2026 / ACCOUNTING & TAXES
Senator Bernie Sanders and Representative Ro Khanna have proposed a new bill called the "Make Billionaires Pay Their Fair Share Act". The proposal would impose a 5% annual tax on Americans with a net worth over $1 billion, potentially generating an estimated $4.4 trillion in tax revenue over the next decade. This bill, targeted at addressing rising wealth inequality, would fund social programs such as $3,000 payments to households under $150,000 income, expanding Medicare, funding affordable housing, raising minimum salaries for teachers, and limiting childcare costs.
Imagine opening your mailbox and finding a $3,000 check from the federal government. That’s the headline-grabbing promise behind a new proposal from Senator Bernie Sanders and Representative Ro Khanna. Their bill, the “Make Billionaires Pay Their Fair Sha...
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