Progressives Unveil Bill to Tax Billionaire Wealth Up to 8 Percent

A group of progressive lawmakers in the House have introduced a bill that would levy up to an 8 percent tax on the wealth of the richest Americans, with a goal of combating extreme and growing wealth inequality in the U.S. The bill, dubbed the Oppose Limitless Inequality Growth and Reverse Community Harms (OLIGARCH) Act, would levy a wealth tax on individuals who have at least 1,000…

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