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02 March 2021 - Elizabeth Warren unveils proposal for wealth tax on "ultra-millionaires"

Publié par Marion Coste le 02/03/2021

Elizabeth Warren, Bernie Sanders propose 3% wealth tax on billionaires

Greg Iacurci (CNBC, 01/03/2021)

A slew of Democrats on Capitol Hill — including progressives Sen. Elizabeth Warren, D-Mass., and Sen. Bernie Sanders, I-Vt. — on Monday proposed a 3% total annual tax on wealth exceeding $1 billion.

They also called for a lesser, 2% annual wealth tax on the net worth of households and trusts ranging from $50 million to $1 billion.

The Ultra-Millionaire Tax Act aims at reining in a widening U.S. wealth gap, which has been exacerbated by the Covid pandemic.

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Warren Revives Wealth Tax, Citing Pandemic Inequalities

Jim Tankersley (The New York Times, 01/03/2021)

Senator Elizabeth Warren, Democrat of Massachusetts, introduced legislation on Monday that would tax the net worth of the wealthiest people in America, a proposal aimed at persuading President Biden and other Democrats to fund sweeping new federal spending programs by taxing the richest Americans.

Ms. Warren’s wealth tax would apply a 2 percent tax to individual net worth — including the value of stocks, houses, boats and anything else a person owns, after subtracting out any debts — above $50 million. It would add an additional 1 percent surcharge for net worth above $1 billion. It is co-sponsored in the House by two Democratic representatives, Pramila Jayapal of Washington, who leads the Congressional Progressive Caucus, and Brendan F. Boyle of Pennsylvania, a moderate.

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Elizabeth Warren's Wealth Tax Gains Support From GOP Voters

Katherine Fung (Newsweek, 01/03/2021)

Senator Elizabeth Warren introduced legislation that would tax the wealthy on Monday, and her proposal is mounting support from voters on both sides of the aisle.

The Ultra-Millionaire Tax Act would tax the net worth of America's richest people by applying a 2 percent tax to those with a net worth above $50 million and a 3 percent tax to those worth above $1 billion. Net worth includes value of stocks, real estate, cars and anything else a person owns, minus their debts.

Polls show that Warren's proposal becoming increasingly popular, with more than three in five Americans saying they support a wealth tax, including a majority of Republican voters, which she's hoping congressional Republicans will recognize.

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Two of the most powerful economic voices in America disagree on a tax for the uber-rich

Matt Egan (CNN Business, 02/03/2021)

Democratic Senator Elizabeth Warren faces an uphill battle persuading Washington to back her tax on ultra-millionaires — starting with convincing her own party's Treasury Secretary.

Janet Yellen, whom Warren praised last year as an "outstanding choice" to lead the Treasury Department, fears a wealth tax would be too messy to implement.

"Then Janet and I need to have a conversation about implementation," Warren told CNN Business on Monday after introducing her Ultra-Millionaire Tax Act.

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