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Billionaire Superstar: Public Image and Demand for Taxation

Morten W. Langer

tirsdag 08. oktober 2024 kl. 9:30

Billionaire Superstar: Public Image and Demand for Taxation

Forskere skriver i forskningspapir, at “in the United States, 741 billionaires collectively hold a staggering $5.2 trillion in wealth. The fortunes of the ultra-wealthy are anything but hidden from public view. American billionaires often lead highly visible lives, with their personal affairs frequently covered by the media. This fascination with billionaire lifestyles even extends into popular culture, where some of the most iconic superhero characters, like Iron Man and Batman, are depicted as billionaires. This concentration of wealth at the top is part of a larger phenomenon of growing income inequality. Meanwhile, on the other end of the income distribution, homelessness has surged to unprecedented levels, with about one in every 500 Americans without a home. The middle class is also facing significant challenges. For example, only half of those born in the 1980s are earning more than their parents did. Despite the extreme inequality, billionaires are estimated to pay lower average tax rates than the average American. This could change soon, as there is growing interest among policymakers in increasing taxes on billionaires. For example, Vice President and presidential candidate Kamala Harris proposed that taxpayers with a net wealth above $100 million should pay a minimum tax on their unrealized capital gains, a policy some refer to as the Harris billionaire minimum tax.”

Morten W. Langer

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