Elizabeth Warren to propose new ‘wealth tax’ as 2020 race heats up: Economic advisor

526

Sen. Elizabeth Warren, D-Mass., is planning to propose a “wealth tax” on some of the richest Americans, an economist who advises her told CNBC on Thursday.

The new tax from Warren, who recently announced her bid to challenge President Donald Trump in 2020, would only apply to Americans with more than $50 million in assets.

The Washington Post first reported the development.


FREE DIGITAL SUBSCRIPTION: GET ONLY 'FEATURED' STORIES BY EMAIL

Big Tech is using a content filtering system for online censorship. Watch our short video about NewsGuard to learn how they control the narrative for the Lamestream Media and help keep you in the dark. NewsGuard works with Big-Tech to make it harder for you to find certain content they feel is 'missing context' or stories their editors deem "not in your best interest" - regardless of whether they are true and/or factually accurate. They also work with payment processors and ad-networks to cut off revenue streams to publications they rate poorly by their same bias standards. This should be criminal in America. You can bypass this third-world nonsense by signing up for featured stories by email and get the good stuff delivered right to your inbox.
 

Warren’s proposal comes alongside other Democratic lawmakers’ plans to raise taxes on the wealthiest Americans to pay for ambitious policy goals, including a “green new deal.”

The development has not gone unnoticed by affluent investors and executives, many of whom are meeting this week at the World Economic Forum in Davos, Switzerland.

“By the time we get to the presidential election, this is going to gain more momentum,” Scott Minerd, global chief investment officer for $265 billion Guggenheim Partners, told CNBC earlier this week.

He was referring specifically to freshman Rep. Alexandria Ocasio-Cortez’s proposal for a 70 percent marginal rate on income above $10 million.

Warren’s proposal, however, differs from Ocasio-Cortez’s in distinct ways.

This is breaking news. Check back for updates.


Get great news content like this for your business website. Search engines love sites with frequently updated quality content and reward them with better search rankings. Get High Quality Content Updates for your site.
Comment via Facebook

Corrections: If you are aware of an inaccuracy or would like to report a correction, we would like to know about it. Please consider sending an email to corrections@publishedreporter.com and cite any sources if available. Thank you. (Policy)