Warren: Pandemic Underscores Need For Wealth Tax wgbh.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wgbh.org Daily Mail and Mail on Sunday newspapers.
March 01, 2021
NEW ANALYSIS: The Ultra-Millionaire Tax would bring in at least $3 trillion in revenue over 10 years – without raising taxes on the 99.95% of American households that have net worth below $50 million
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Washington, DC – United States Senator Elizabeth Warren (D-Mass.), a member of the Senate Finance Committee, Representative Pramila Jayapal (D-WA-07), a member of the House Budget Committee, and Representative Brendan Boyle (D-PA-02), a member of the House Ways and Means Committee today unveiled the Ultra-Millionaire Tax Act.
The Ultra-Millionaire Tax Act would level the playing field and narrow the racial wealth gap by asking the wealthiest 100,000 households in America, or the top 0.05%, to pay their fair share. The Ultra-Millionaire Tax would bring in at least $3 trillion in revenue over 10 years – without raising taxes on the 99.95% of American households that have net worth below $50 million – according to
Elizabeth Warren s Wealth Tax Gains Support From GOP Voters newsweek.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newsweek.com Daily Mail and Mail on Sunday newspapers.
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Democrats in the state Legislature support new, higher taxes on New York’s richest residents as part of the new state budget. They say a newly released study that shows that the state’s 120 billionaires increased their wealth by $88 billion dollars during the pandemic bolsters that claim. But Governor Andrew Cuomo continues to resist raising their taxes.
The study, by the left leaning groups Americans for Tax Fairness and Health Care for America Now, calculates that the state’s billionaires, who include Michael Bloomberg the Lauder family, David Koch and Rupert Murdoch, saw their earnings and investments rise by 16.8% during the first 10 months of the pandemic.