Elizabeth Warren and Bernie Sanders have proposed wealth taxes on the biggest fortunes in America. The White House and lots of billionaires are attacking them for it. But guess what: You'll be surprised who supports it.
This modest-sounding proposal would have a far-reaching impact on the wealthiest Americans when combined with her other tax plans — shrinking colossal fortunes over time and making it much more difficult to hand down multibillion-dollar legacies
For Warren, a wealth tax is primarily a path to revenue, while Sanders emphasizes reducing the economic power of billionaires as a class
Supporting labor battles is at the center of the Bernie Sander's campaign. At a Chicago teachers rally he stated, “the only way to win prosperity for working people is when we significantly increase membership in trade unions all across America.”
Mr. Sanders is embracing an idea at the center of Elizabeth Warren’s presidential campaign. His proposal goes further in who would be taxed and how much money would be raised.
A radical idea is gaining adherents on the left. It’s the perfect way to blunt tech-driven inequality.
American wealth inequality is staggering. A wealth tax, which would home in on the money people actually have, rather than just the money we earn and spend, could be a solution.
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Are there (short term) political alternatives to the wealth tax to limit or reverse inequality?
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