The Stock Market Is a House of Cards

The working class is feeling this disconnect from how the stock market is performing. The individuals who have made the most money during the pandemic, the millionaires who only got richer, are very unlikely to be taxed on their earnings. Under current law, none of that gain will ever be taxed unless the underlying assets are sold. Now democratic lawmakers like senator ron widen have proposed a billionaire tax to mitigate this. It's not going to go anywhere. There are too many corporate democrats who stand in the way of passing this type of legislation. But what would that have done? Widen's billionaires income tax would apply to capital gains rate a total of 23 point eight % on the highest income taxpayers