Eventually something has to give...

[u/Veshaad]

The bill would provide a $3,000 direct payment to every person in households making $150,000 or less during its first year, which equals $12,000 for a family of four.

[u/nox_vigilo]

Senator Bernie Sanders and Representative Ro Khanna introduced the Make Billionaires Pay Their Fair Share Act, a federal bill that proposes a 5% annual wealth tax on individuals in the United States with a net worth of $1 billion or more. [1]

Target: Targets roughly 938 individuals in the U.S. with assets exceeding $1 billion.

Projected Revenue: Estimated to raise about $4.4 trillion over the next decade.

Intended Uses for Revenue:

• Direct Payments: Provides a $3,000 direct payment in the first year to individuals in households making $150,000 or less.
• Social Programs: Expands Medicare to cover dental, vision, and hearing care.
• Public Infrastructure: Funds affordable housing development and caps childcare costs for working families.
• Education: Sets a minimum annual salary of $60,000 for public school teachers. [1, 2, 3]