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.