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>Heck, even the most aggressive wealth taxes I've heard about amount to taking 3% of current networth for people with networths > $50 million. I'd be curious i
by yownie 5y ago
>Heck, even the most aggressive wealth taxes I've heard about amount to taking 3% of current networth for people with networths > $50 million.
I'd be curious if you could cite a source for this information.
- cogman10 5y agoIt was a major part of the Warren platform so easy to google, but here's one source. Let me know if you want more. https://www.cnbc.com/2021/03/01/elizabeth-warren-bernie-sanders-propose-3percent-wealth-tax-on-billionaires.html https://www.cnbc.com/2021/03/01/elizabeth-warren-bernie-sand... Also note this is a wealth and not income tax. When talking about federal taxes and progressive taxes we are generally talking about income tax. A wealth tax solves the problem of millionares/billionares using loop holes to avoid the income tax system/paying low income taxes.