A new bill would implement a one-time 60% tax on billionaires to cover the health care costs of every American for a year.
A new bill introduced by Sens. Bernie Sanders , Kirsten Gillibrand , and Ed Markey would implement a one-time 60% tax on billionaires to cover the health care costs of every American for a year.
The money generated from this 60% tax would go towards covering out-of-pocket expenses for the uninsured and underinsured for one year. ‘Demanding that billionaires pay their fair share of taxes’The Make Billionaires Pay Act would cover all medical bills, including prescription drugs and coronavirus-related expenses, over the next 12 months with the tax staying in effect until January 1, 2021.
In that same period of time, over 5 million Americans have lost their employer-sponsored health care. And although President Trump pledged to reimburse hospitals for any coronavirus-related expenses for the uninsured, that still leaves non-coronavirus expenditures that could add up.
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