Senate Finance Committee Chair Ron Wyden (D-OR) has announced the introduction of the Billionaires Income Tax Act, cosponsored by 14 other Democratic Senators. A one-page summary of the Act includes the following: --- The Billionaires Income Tax Working Americans like nurses and firefighters pay taxes out of every paycheck, but billionaires do not. They're able to avoid paying a fair share in taxes for decades, if not indefinitely, through a simple scheme: Buy: Billionaires acquire and hold assets like stocks and real estate that are likely to rise in value. Borrow: They borrow against those assets, effectively turning their stockpiled...