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Treasury Secretary Janet Yellen said she s not planning a wealth tax like Elizabeth Warren s.
Yellen told The New York Times that such a tax would have very difficult implementation problems.
But she is looking into other tax routes, including capital gains and the corporate tax.
Treasury Secretary Janet Yellen has indicated that a wealth tax is off the table, but she is looking at other potentially significant measures.
Yellen also said during a virtual conference held by the Times that a wealth tax has been discussed, but it s not favored by President Biden.
One major plank of Sen. Warren s presidential run and, later, Sen. Bernie Sanders run was a wealth tax. Warren called for an Ultra-Millionaire Tax that would levy an annual 2% tax on households with net worths between $50 million and $1 billion. Households that have a net worth over $1 billion would have seen a 3% annual tax. Warren has renewed her calls
Janet Yellen s Treasury sees a wealth tax as too hard to implement, but she has other ideas on what to change
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