On Monday, March 1, Senator Elizabeth Warren, Rep. Pramila Jayapal, and Rep. Brendan Boyle took a stand against out-of-control wealth inequality by introducing The ‘Ultra-Millionaire Tax Act’ to Congress. So what will this tax do? It’s a virtual copy of the wealth tax that Warren ran on in her 2020 presidential campaign. A wealth tax is a yearly tax on the net worth, essentially assets … Continue reading Explaining The Ultra-Millionaire Tax Act
With both the Democratic and Republican National Conventions behind us, the 2020 election is finally, really, underway, ushering in the final sprint in a race for the White House with profound economic implications. After four years of President Trump, we have a clear sense of what he wants to do with our tax code – cut taxes for millionaires, billionaires, and corporations. Considering that the … Continue reading Biden’s Tax Plan Doesn’t Go Far Enough
A year ago, in a time before the Coronavirus upended our economy and made taxing the rich more urgent than ever before, the idea of a wealth tax was all the rage in the 2020 Democratic presidential debates. First introduced by Senator Elizabeth Warren (D-MA), a wealth tax would go miles towards curbing our country’s inequality by laser-targeting extreme wealth held by the likes of … Continue reading In Wealth Tax, California Looks Toward the Future
Simply put, wealth is wasted on the wealthy.