Sen. Elizabeth Warren is poised to unveil her “wealth tax” against high-income Americans and those with over $50 million in miscellaneous assets in the coming days, reports CNBC.
“Sen. Elizabeth Warren, D-Mass., is planning to propose a ‘wealth tax’ on some of the richest Americans, an economist who advises her told CNBC on Thursday,” writes CNBC.
“The Warren wealth tax is pretty big. We think it could have a significant affect on wealth concentration in the long run,” said her economic advisor. “This is a very interesting development with deep root causes: the fact inequality has been increasing so much, particularly in wealth, and the feeling our current tax system doesn’t do a very good job taxing the very richest people.”
Read the full report at CNBC.