alt Hacker NewsThank goodness it’s $50 million because if it were a quarter of that then $174,000/year salaried senator Elizabeth Warren, worth $12 million, would be liable too.
Thank goodness it’s $50 million because if it were a quarter of that then $174,000/year salaried senator Elizabeth Warren, worth $12 million, would be liable too.
It's only a tax on wealth above $50m. If she ever reaches that level of net worth, I highly doubt she'd have trouble paying a 2% tax on it.
The 1935 Revenue Tax was essentially a wealth tax and it brought great levels of prosperity as well as continued entrepreneurship