POLITICSTHE GUARDIAN WORLD
When it comes to taxing the super rich, there’s no need to reinvent the wheel
California is considering a one-time 5% tax on fortunes exceeding $1 billion, as billionaires face criticism for not paying their fair share. The article highlights challenges in taxing the ultra-wealthy due to loopholes and exceptions, while the rise of AI is creating more billionaires.
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Adjacent reporting
- When it comes to taxing the super rich, there’s no need to reinvent the wheel
- Taxing millionaires and billionaires is a political no brainer for Democrats
- Some billionaires pay too little tax
- Should billionaires pay more taxes?
- Raising taxes on the superrich is popular with voters. So why is it so hard to get done?
- Who would benefit from Bernie Sanders’ wealth tax on billionaires?