‘Tax the Billionaires’ • Protecting Children’s Health

Amazon founder Jeff Bezos’ fortunes rose to $ 8.44 billion after the Pentagon canceled a controversial $ 10 billion cloud contract awarded to Microsoft, a reason some members of Congress have called for millionaires and billionaires who pay their fair share of taxes.

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Following the Pentagon’s decision cancellation a contract led to the founder of Amazon Jeff BezosThe fortune will rise to $ 8.44 billion, which will hit a record $ 211 billion, Rep. Pramila Jayapal Wednesday afternoon doubled her request to raise taxes on the richest Americans.

“The world’s richest man reached a record $ 211 billion net worth on Tuesday after shares of Amazon.com Inc. rose 4.7% after the Pentagon announced it had canceled a cloud-computing contract to rival Microsoft Corp., ” according to Bloomberg.

Jayapal (D -Wash.) – who leads the Ultra-Millionaire Tax Act of 2021 with Sen. Elizabeth Warren (D-Mass.)-Taken to Twitter to highlight Bezos’ current gains in the call to tax the rich, declaring that “it’s time they pay their fair share.”

The role of Jayapal and Warren want imposes a 2% annual tax on net worth of households and trusts of more than $ 50 million, plus a 1% annual surtax on billionaires – generating an estimated $ 3 trillion in revenue. more than a decade.

As of Tuesday Bezos has $ 30 billion richer than the second man in Bloomberg Billionaires Index, Tesla’s Elon Musk, with a net worth of $ 181 billion.

The last time anyone came close to Bezos ’new record was when Musk briefly hit $ 210 billion in January, Bloomberg reported, pointing out that“ the two men spent the first half of the year traded the highest ranking as the richest man in the world, but Bezos cemented his holdings at No. 1 from mid -March while Amazon sold nearly 20% this season.

On Tuesday statement showing the cause of Bezos ’wealth rise, the Pentagon announced the cancellation of a controversial $ 10 billion cloud contract awarded to Microsoft during the Trump administration but also said it would consider Microsoft and Amazon Web Services (AWS) for the future cloud contract.

The news came after Bezos ’last day as Amazon’s chief executive officer on Monday, a move that’s made public months ago. Bezos remains as executive chair and Andy Jassy, ​​the former head of AWS, is the company’s new CEO.

In a report on the Pentagon announcement, The New York Times noticed that Jassy’s teaching “highlights the importance of cloud computing in great tech companies, which have built giant data centers around the world to accommodate new business and government customers. ”

The planned change in Amazon’s leadership has also sparked fresh calls for higher taxes on the rich, such as Common Dreams reports tuEsday

“Jeff Bezos earns about $ 2,537 per second a day. Got that? That means Jeff Bezos – the richest man on the face of the planet – makes almost 3x more in a second than the median workers in the country for a whole week, ” gideklara Sen. Bernie Sanders (I-Vt.). “That’s immoral. Tax the billionaires. ”

Bezos and British businessman Richard Branson’s continuing “billionaire vacancy” are also sparking calls from progressives for higher taxes on the richest people and companies.

Branson, who founded Virgin Galactic in 2004, is scheduled to go into space on July 11 – just nine days before Bezos’ scheduled trip via Blue Origin, which he founded in 2000.

On a Tuesday show on NBC’s “Today,” Branson denied that it was a competition, while also admitting “I know no one will believe me when I say it.”

Meanwhile, Rep. Ro Khanna (D-Calif.) Joining the space race to travel for wealth tax.

“Should billionaires play with their space travel fantasies,” Khanna tweeted on Wednesday, “or should we invest in schooling, provide health and create prosperity for all?”

Originally published on Common Dreams.

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