Lawmakers across 7 states are introducing bills aimed at taxing the wealth of the ultra rich.
The proposals, if passed, could serve as proof of concept for a potential federal wealth tax in the future, the lawmakers say. And even if the bills don’t pass — previous attempts to pass similar proposals have not passed through state legislatures — they could help shift the way extreme wealth is perceived in relation to society.. “But taxes are different. This is why we are all here together.”
Many of the proposals will target capital gains, or profits made from assets like stocks, which accountIn California, Illinois, New York and Washington, lawmakers are planning to introduce bills that would tax unrealized capital gains.
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