Democrats try to unite against billionaires

Democrats mull a billionaire tax; Brazilian President Jair Bolsonaro could face criminal charges over his response to the coronavirus pandemic. 

Tonight's Sentences was written by Jariel Arvin.

Democrats seek new ways to tax the rich

Patrick Pleul/Getty Images

• Even as Democrats put the final touches on a billionaire tax proposal to fund President Joe Biden’s expansion of the social safety net, the plan is facing skepticism from some in the party. [Reuters / Trevor Hunnicutt and Jarrett Renshaw]
• Senate Finance Chair Ron Wyden has drafted a proposal that would tax increases in the value of assets (like stocks) for billionaires. But it may be swapped for a different measure, targeting those earning more than $5 million per year. Democrats may also set a tax minimum for large corporations to raise revenues. [Washington Post / Andrew Van Dam, Jeff Stein and Tony Romm]
• The last-minute addition of the billionaire tax was the result of Sen. Krysten Sinema’s opposition to a more traditional tax increase for those earning more than $500,000 per year. It isn’t clear whether Sinema is entirely on board with the plan, but fellow moderate Sen. Joe Manchin, appears to be: “I’m open to any type of thing that makes people pay, that’s not paying now,” Manchin said. [The Hill / Jordain Carney]
• The billionaire tax is more targeted than Sen. Elizabeth Warren’s blanket wealth tax of 3 percent, which she unveiled during the 2020 presidential primary, but it is unclear whether Wyden’s proposal can stand up to legal scrutiny. [New York Times / Neil Irwin]
• In recent months, reporting from ProPublica has revealed that US billionaires are paying taxes at a lower rate than the average American; Democrats’ new tax hopes to ensure that the likes of Elon Musk, Jeff Bezos, and Mark Zuckerberg pay their fair share. [Bloomberg / Ben Steverman, Sophie Alexander, and Scott Carpenter]
• Not everyone is on board with raising taxes on only the ultra-rich — some House Democrats maintain the best way to raise revenue is to increase the tax rate on corporations and individuals earning more than $400,000. That seems unlikely to happen, however, given Sinema's opposition. [AP / Lisa Mascaro, Darlene Superville, and Alan Fram]

Brazilian President Jair Bolsonaro could face charges over his Covid-19 response

• Brazil’s Senate met on Tuesday to decide if it would go along with a recommendation to charge President Jair Bolsonaro with crimes against humanity over his response to the coronavirus pandemic. [AP / Debora Alves]
• The recommendation came in a 1,200-page report that describes how Bolsonaro peddled misinformation on Covid-19 and vaccines, and balked at preventative measures like face masks, and social distancing. More than 600,000 Brazilians have died due to the pandemic. [Vox / Jen Kirby]
• Bolsonaro claims he did nothing wrong, and is showing no sign of slowing down in spreading misinformation: Monday, Facebook removed a video in which Bolsonaro falsely claimed that vaccines cause AIDS. [Reuters / Gabriel Araujo]
• The 11 Brazilian senators who completed the 6-month inquiry are likely to recommend charging Bolsonaro, but the decision to file criminal charges lies with a federal prosecutor — who is a Bolsonaro appointee. [BBC / Katy Watson]

Princess Mako of Japan married her college sweetheart on Tuesday, giving up her royal status to do so. [Washington Post / Michelle Ye Hee Lee and Julia Mio Inuma]

• The latest United Nations Emissions Gap report warns that the world will miss its target of limiting global warming to 1.5 degrees Celsius; Secretary-General Antonio Guterres says it’s a “wake-up call.” [BBC / Matt McGrath]
• Executives from Snapchat, Tik Tok, and Youtube appeared before a Senate subcommittee on Tuesday to answer questions about how the platforms are addressing child safety. [Al Jazeera / Reade Pickert]
• Tom Brady has promised a 1 Bitcoin reward — worth about $62,000 — for a Tampa Bay Buccaneers fan who caught the quarterback’s record 600th touchdown ball. [ESPN / Jenna Laine]

“Eventually, they run out of other people’s money and then they come for you.” 

Tesla CEO Elon Musk tweeted a reference to late UK Prime Minister Margaret Thatcher’s quote about socialism, in response to Democrats’ proposed billionaire tax

A recent study of tens of thousands of birds has shown that birds are growing smaller over time. It could be due to climate change, and if so, we ought to consider: How else might humans be altering the literal shape of life on Earth — now and in the future? [Spotify]

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