Billionaires Would Pay Nearly 100 Times More in Taxes Under New Biden Proposal

Contributing sentiments towards policy:

57% : The nonpartisan Institute on Taxation and Economic Policy, which has documented the various ways by which current tax code favors the rich over working people, said the proposal -- which comes at a time in which "billionaire wealth grew by $1.7 trillion during the pandemic" -- would be a great improvement over the status quo.
50% : Gabriel Zucman, associated professor of economics at U.C. Berkeley and an expert on inequality and taxation, said the Biden plan could have real teeth.
49% : "According to ProPublica, Bezos, Buffett, and Musk collectively paid $1.5 billion in federal income tax in the 5 years 2014-2018."
42% : Billionaires are able to borrow against their accumulated gains without triggering taxes on capital gains, enabling huge accumulations of wealth to go virtually untaxed by the federal government.

*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. Bias scores are on a scale of -100% to 100% with higher negative scores being more liberal and higher positive scores being more conservative, and 0% being neutral. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization.