Running / Democrats

Sen. Elizabeth Warren introduces wealth tax bill aimed at people worth over $50 million

Posted On: Apr 21, 2021   |   Posted By: Business Insider

Sen. Elizabeth Warren introduces wealth tax bill aimed at people worth over $50 million

Summary List Placement Sen. Elizabeth Warren of Massachusetts on Monday unveiled legislation that would tax the fortunes of the wealthiest people in the United States.
The bill, called the Ultra-Millionaire Tax Act, would apply an annual 2% tax on individuals with net worths between $50 billion and $1 billion. Individuals worth over $1 billion would pay an annual 3% tax. A University of California Berkeley analysis, cited by Warren, estimates that the tax would generate $3 trillion in revenue over 10 years. Warren proposed that the new federal money would be invested in programs such as child care, education and infrastructure.
The progressive Democrat said the tax aims to "level the playing field and narrow the racial wealth gap" in the country, according to a statement on Monday.
Warren regularly floated the idea of a "wealth tax" during her 2020 presidential run. She has renewed those calls in recent months as the coronavirus pandemic has disproportionately affected communities of color and cast a light...

Continue reading ...

 






The last Posts from Business Insider



Xi to attend Biden's climate change summit in first meeting of two leaders

Xi to attend Biden's climate change summit in first meeting of two leaders

China's President Xi Jinping will attend a U.S.-led climate change summit on Thursday at the invitation of President Joe Biden, in the first meeting between the two leaders... Read more ...

Will Chauvin Trial Change Policing in America?

Will Chauvin Trial Change Policing in America?

Apr.20 - Jason Johnson, Law Enforcement Legal Defense Fund president, discusses his views on the guilty verdict of former Minneapolis police officer Derek Chauvin for the death... Read more ...

Columbus police release bodycam footage of officer's fatal shooting of teen girl

Columbus police release bodycam footage of officer's fatal shooting of teen girl

Columbus police on Tuesday night released bodycam footage showing an officer's fatal shooting of a 15-year-old girl earlier in the day. The truncated video begins at the moment... Read more ...

Arrieta pitches Cubs to 3-1 win over Mets on cool night

Arrieta pitches Cubs to 3-1 win over Mets on cool night

CHICAGO - Jake Arrieta pitched five effective innings, Craig Kimbrel escaped a jam in the ninth and the Chicago Cubs beat the New York Mets 3-1 on Tuesday. Read more ...

Here's why it's rare for police officers to be convicted of murder

Here's why it's rare for police officers to be convicted of murder

Experts point to several factors they say make it rare for police officers to receive murder convictions, from powerful police unions to reluctant jurors. Read more ...

Minneapolis community celebrates Derek Chauvin conviction

Minneapolis community celebrates Derek Chauvin conviction

The Rev. Jesse Jackson joined hundreds of people in Minneapolis on Tuesday night celebrating the conviction of Derek Chauvin for the killing of George Floyd. The civil rights... Read more ...

Raiders receive backlash for 'I can breathe' tweet; owner Mark Davis says...

Raiders receive backlash for 'I can breathe' tweet; owner Mark Davis says team won't delete post

The Raiders received considerable backlash for the wording of the post. Read more ...

Body of woman found off trail in Volusia County, deputies say

Body of woman found off trail in Volusia County, deputies say

Authorities are investigating after the body of a woman was found off a trail in Osteen on Tuesday. Read more ...

Bogaerts' 3-run HR, Rodríguez lift BoSox over Blue Jays 4-2

Bogaerts' 3-run HR, Rodríguez lift BoSox over Blue Jays 4-2

BOSTON - Xander Bogaerts hit a three-run home run to back Eduardo Rodríguez in his first start at Fenway Park since 2019, and the Boston Red Sox beat the Toronto Blue Jays 4-2... Read more ...

Des Moines lawyer reflects on guilty verdict in Derek Chauvin trial

Des Moines lawyer reflects on guilty verdict in Derek Chauvin trial

A jury found former Minnesota police Officer Deric Chauvin guilty Tuesday on all counts in connection with the death of George Floyd. Read more ...