SENATOR RON WYDEN’S BILLIONAIRES INCOME TAX The public overwhelmingly supports the Billionaires Income Tax (BIT).

● The tax will be assessed and payable annually on tradable assets, such as stocks, where the value of the asset is known at the beginning and end of the year and the owner already gets an annual financial statement. [...] The first year a taxpayer is subject to the tax, it will be calculated on the gain since the date the taxable asset was purchased. [...] ● The Billionaires Income Tax is not the same as the wealth tax proposed by Sen. [...] Because the wealthy make most of their money from this kind of growth in the value of their assets, ProPublica accurately calls its calculation the billionaires’ “true tax rate.” ● White House economists found that on average, the wealthiest 400 American families paid an average effective federal income tax rate of just over 8% between 2010 and 2018, when the increased value of their stock is coun. [...] 20, 2021 ARTICLES OF INTEREST The American Prospect: The Media Got the Billionaires Income Tax Wrong, Nov.