Elizabeth Warren Proposes New ‘Wealth Tax’

Sen. Elizabeth Warren (D-MA) has proposed a “wealth tax” on the “tippy top” elite of richest Americans that is projected to raise $2.75 trillion over 10 years.

“We need structural change,” Warren tweeted Thursday. “That’s why I’m proposing something brand new – an annual tax on the wealth of the richest Americans. I’m calling it the “Ultra-Millionaire Tax” & it applies to that tippy top 0.1% – those with a net worth of over $50M.”

Warren recently announced her bid to run for President in 2020.