A wealth tax would fine the super-rich and use those funds to send money to vital social programs.
Elizabeth Warren And The Wealth Tax
After joining the Senate Finance Committee, Sen. Elizabeth Warren (D-MA) will introduce legislation calling for a wealth tax on those who have fortunes over $50 million. Warren’s proposal would charge 2 cents on every dollar over $50 million.
On March 1 2021, Warren introduced her legislation in the Senate. She introduced the legislation with Rep. Pramila Jayapal (D-WA) and Rep. Brendan Boyle (D-PA).
“A wealth tax is popular among voters on both sides for good reason: because they understand the system is rigged to benefit the wealthy and large corporations,” Warren said.
One of the first political bloggers in the world, Oliver Willis has operated OliverWillis.com since 2000. Contributor at Media Matters for America and The American Independent. Follow on Twitter at @owillis. Full bio.