The billionaire tax.
Tangle
Isaac Saul
4.8 • 672 Ratings
🗓️ 28 October 2021
⏱️ 24 minutes
🧾️ Download transcript
Summary
Earlier this week, Democrats released a new proposal that they said will help them pay for their infrastructure and reconciliation bills: A billionaire income tax (BIT). The legislation was drafted by Senate Finance Committee Chairman Ron Wyden (D-OR), who said the new bill would impact about 700 billionaires who earn "over $100 million in annual income for three consecutive years or who have more than $1 billion in assets," according to CNBC. Wyden says the changes would raise hundreds of billions of dollars in new revenue.
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Transcript
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| 0:34.5 | From executive producer Isaac Saul, this is Tangle. |
| 0:40.7 | Tangle. |
| 0:41.7 | A good morning, good afternoon and good evening and welcome to the Tangle podcast, a place where you get views from across the political spectrum. |
| 1:00.0 | Some independent thinking without all that hysterical nonsense you find everywhere else. |
| 1:04.4 | I am your host, Isaac Saul. |
| 1:05.9 | And on today's episode, we are going to be talking about the billionaire tax, the new billionaire income tax proposal that has been brought forward by Democrats this week. |
| 1:16.7 | Before we jump into that and what people are saying about it, we are going to start with some quick hits. |
| 1:40.3 | Yeah. First up, the U.S. economy slowed to a 2% growth rate last quarter, well below the 2.6% predicted by economists. Number two, Democrats dropped a paid family and sick leave proposal from their reconciliation |
| 1:46.2 | bill in order to reduce the bill's overall cost. |
| 1:50.2 | Number three, Iran said it will return to talks on a nuclear deal in Vienna next month. |
| 1:56.1 | Number four, the U.S. issued its first ever passport with ex-gender designation for people who don't identify as male or female. |
| 2:04.7 | Number five, a judge rejected a request from New York City police officers to stop a vaccine mandate for cops. All right, that's it for today's quick hits, which brings us to our main story, the billionaire tax. |
| 2:29.2 | Earlier this week, Democrats released a new proposal that they said will help them pay for their infrastructure |
| 2:34.2 | and reconciliation bills. A billionaire income tax, or BIT, was drafted by Senate Finance Committee |
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