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Taxes

Democrats Target ‘Buy, Borrow, Die’ With Their Billionaire Tax Plan

  • Plan would tax unrealized capital gains of richest Americans
  • After billionaire tax, ‘then they come for you,’ Musk tweets
Senate Poised To Pull Nation Back From Default Brink For Now
Photographer: Stefani Reynolds/Bloomberg

With their latest tax proposal, Democrats are going after an elusive target: U.S. billionaires, and their growing piles of untaxed investment gains. 

More than $5 trillion is held by Americans worth at least $1 billion, according to the Bloomberg Billionaires Index. This exclusive group -- more than 800 U.S. billionaires are now tracked by the index -- has more than doubled its collective net worth in the last five years.