January 31, 2019
A Wealth Tax Could Raise Trillions — and Save Our Democracy
Taxing wealth over $50 million would be an investment in protecting our country from the tyranny of a plutocracy.
Joe Crimmings / Flickr
Sen. Elizabeth Warren (D-Mass.) has jolted the body politic with a bold proposal to tax the concentrated wealth of the richest 75,000 households in the United States. It’s about time someone took up this mantle.
Warren’s proposal would levy an annual 2 percent tax on wealth over $50 million, with the rate rising to 3 percent on wealth over $1 billion. Jeff Bezos, the wealthiest man in the country, would pay $4.1 billion under the new tax.
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Read the full article at The Hill.
Originally in The Hill.
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