Elizabeth Warren proposes wealth tax on 'ultra-millionaires'

[soothsayer]

Link to tweet

?s=21

avis Akers
@travisakers
·
Mar 1, 2021
Sen. Elizabeth Warren will be introducing new legislation today called the Ultra-Millionaire Tax Act which will establish a wealth tax for the most wealthy Americans, a popular policy she ran on during her 2020 presidential campaign.

Travis Akers
@travisakers
The Ultra-Millionaire Tax Act would levy a 2% annual tax on the net worth of households and trusts between $50 million and $1 billion as well as a 1% annual surtax on assets above $1 billion, for a 3% tax overall on billionaires.

Elizabeth Warren proposes wealth tax on 'ultra-millionaires'
cnn.com
https://t.co/OMQV9N72gJ?amp=1

[RKP5637]

1. YES!!!! n/t

[Autumn]

2. A great idea. Doubt it will pass though.

[Demsrule86]

3. I agree. I wish it would pass but the courts would likely strike it down. The best way is to

reinstate inheritance taxes about a certain amount with no deductions.

[brooklynite]

4. The Grand Caymans are a lovely place to relocate to.....

Biden and Yellen don’t support this.

[Elessar Zappa]

5. I think Biden would sign it if it gets through Congress.

That said, we won’t have the votes, especially with the filibuster intact.

[Midnight Writer]

6. A transaction tax on equities transfers, an indexed capital gains tax, a federal luxury tax

There's more than one way to skin a cat.