: So what exactly is a billionaires’ tax — and how would it work?

The prospect of a new “billionaires tax” is dawning while the chances dim for income tax and capital gains rate hikes on the rich. Democrats, meanwhile, continue to work out how to pay for a bill aimed at the social safety net.

The tax would apply to households worth at least $1 billion, or with three straight years of income over $100 million, according to the Wall Street Journal.


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