Elizabeth Warren: 3% Wealth Tax

Posted by admin on Monday, March 1, 2021

Elizabeth Warren Money Quote saying introduced a bill in Congress to tax the wealthy a few pennies per dollar of wealth to finance President Biden’s Infrastructure plan. Elizabeth Warren said:
 
The Wealth Tax is a two-cent per dollar tax on people with a net worth above $50 million – and a few cents more for the billionaires Quote
 

“The #WealthTax is a two-cent per dollar tax on people with a net worth above $50 million – and a few cents more for the billionaires. This small tax would generate at least $3 trillion to help fund bold reforms in President Biden’s #BuildBackBetter agenda” — Elizabeth Warren

 

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In this quote, Elizabeth Warren is explaining her proposed “wealth tax.” She notes that it would be a tax of two cents per dollar on individuals with a net worth over $50 million, and slightly higher for billionaires. Warren claims that this small tax on the very wealthy would generate at least $3 trillion in revenue.

She proposes using this revenue to help fund President Biden’s domestic agenda, known as “Build Back Better.” Overall, Warren is advocating for her wealth tax plan as a way to tax the rich and use the funds to pay for reforms and initiatives that will benefit the broader American public.

 

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