Warren to Propose a ‘Wealth Tax’

2% to 3%

Sen. Elizabeth Warren (D-MA) will propose a new annual “wealth tax” on Americans with more than $50 million in assets, as Democratic leaders vie for increasingly aggressive solutions to the nation’s soaring wealth inequality, the Washington Post reports. “Emmanuel Saez and Gabriel Zucman, two left-leaning economists at the University of California, Berkeley, have been advising Warren on a proposal to levy a 2 percent wealth tax on Americans with assets above $50 million, as well as a 3 percent wealth tax on those who have more than $1 billion, according to Saez.”

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