Elizabeth Warren has made attacks on billionaires a centerpiece of her campaign. Here are the details of her 'wealth tax' and how it would work. DemDebate
The wealth tax is projected to apply to less than 0.1 percent of U.S. households, and would raise $2.75 trillion over 10 years, Saez said.
"By the time we get to the presidential election, this is going to gain more momentum," Scott Minerd, global chief investment officer of $265 billion Guggenheim Partners,He was referring specifically to freshman Rep. Alexandria Ocasio-Cortez's proposal for a 70 percent marginal rate on income above $10 million.
The Post reported that Warren has been advised by Saez and Gabriel Zucman, left-leaning economists affiliated with the University of California, Berkeley, on a deal that would levy a 2 percent wealth tax on Americans with $50 million-plus in assets. For Americans with assets above $1 billion, that tax rate would increase to 3 percent.
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