U.S. Senate Finance Committee Chair Ron Wyden (D-OR) has announced an updated version of his proposed "Billionaires Income Tax", which would apply to taxpayers with more than USD 1 billion in assets or more than USD 100 million in income for three consecutive years. A summary of the updated version includes the following: --- Taxation of gains and losses from assets like stocks Tradable assets (assets like stocks that are easily valued on an annual basis) owned by billionaires will be marked to market each year. This means that billionaires will pay tax on gains or take deductions for losses,...