The Billionaire Income Tax - An Idea Whose Time Has Come

Up until recently, the US was considering imposing a Billionaires' Income Tax as a way to offset President Joe Biden's social and infrastructure spending packages and to equalise the tax burden.

The first five years alone of the new tax would have brought in $346.2bn of revenue from about 700 American billionaires.

What was the tax proposal exactly? Why is it a big deal?
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