CLEAN : Tax on assets of US billionaires would be 'historic': economist Gabriel Zucman

The video discusses a proposed progressive tax targeting billionaires, focusing on unrealized capital gains. It explains how the tax would work, using Elon Musk as an example, and highlights the potential revenue it could generate. The video also addresses issues with the current tax system, such as low taxes on the wealthy and growing inequality. It explores the political landscape, noting some support in the Senate, and considers the global context, where other countries face similar challenges with billionaire wealth and tax rates.

What is the primary focus of the proposed progressive tax discussed in the video?

• Sales tax on luxury goods

• Income tax on all citizens

• Tax on unrealized capital gains of billionaires

• Corporate tax increase

How much wealth do US billionaires currently hold, according to the video?

• $10 trillion

• $3 trillion

• $5 trillion

• $2 trillion

What is the estimated revenue from the proposed billionaire tax?

• $2 trillion

• $1 trillion

• $500 billion

• $200 billion

Which political figure is mentioned as opposing tax increases on corporate and individual income tax but not on the billionaire tax?

• Senator Warren

• Senator Sanders

• Senator Sinema

• Senator McConnell

Why might other countries be interested in the US's proposed billionaire tax?

• Billionaires have high effective tax rates

• Billionaire wealth has increased significantly, especially during the pandemic

• The US has the highest number of billionaires

• Billionaire wealth has decreased globally