Elizabeth Warren's wealth tax plan claims it will be bring in 3.75 trillion over 10 years.[1]:
>That’s why we need a tax on wealth. The Ultra-Millionaire Tax taxes the wealth of the richest Americans. It applies only to households with a net worth of $50 million or more—roughly the wealthiest 75,000 households, or the top 0.1%. Households would pay an annual 2% tax on every dollar of net worth above $50 million and a 6% tax on every dollar of net worth above $1 billion. Because wealth is so concentrated, this small tax on roughly 75,000 households will bring in $3.75 trillion in revenue over a ten-year period.
Are you saying this is wrong if I 'pull out my calculator' and run the numbers? The reality is it is not. Wealth is massively concentrated at the top in this country, and from a purely numbers perspective, if it were 'redistributed' it could cover a lot of basic costs that occur in this country.
>That’s why we need a tax on wealth. The Ultra-Millionaire Tax taxes the wealth of the richest Americans. It applies only to households with a net worth of $50 million or more—roughly the wealthiest 75,000 households, or the top 0.1%. Households would pay an annual 2% tax on every dollar of net worth above $50 million and a 6% tax on every dollar of net worth above $1 billion. Because wealth is so concentrated, this small tax on roughly 75,000 households will bring in $3.75 trillion in revenue over a ten-year period.
Are you saying this is wrong if I 'pull out my calculator' and run the numbers? The reality is it is not. Wealth is massively concentrated at the top in this country, and from a purely numbers perspective, if it were 'redistributed' it could cover a lot of basic costs that occur in this country.
[1]https://elizabethwarren.com/plans/ultra-millionaire-tax