Other areas are looking at different methods of increasing revenue, such as wealth taxes. A New York state senator from Queens said in May that “the only people who actually have money right now are billionaires,” and introduced a bill that would treat capital gains as income and would tax unrealized capital gains.
That money would not be used for existing programs, however. The funds raised by the increased taxes on billionaires would go to a new “worker bailout fund” that would provide monthly payments of $3,300 for people who do not qualify for unemployment benefits or CARES Act payments.
That money would not be used for existing programs, however. The funds raised by the increased taxes on billionaires would go to a new “worker bailout fund” that would provide monthly payments of $3,300 for people who do not qualify for unemployment benefits or CARES Act payments.