Warren will propose a "wealth tax" to those with more than $ 50 million in assets

Sen. Elizabeth Warren Elizabeth Ann WarrenA hope for 2020, Buttigieg boasts her level of experience, compares it to Trump's Kamala Harris topping the Demo 2020 rankings in the Daily Straw Poll of Daily Kos Sherrod Brown : Dems will lose if we have to choose between talking MORE (D-Mass.) Would present a proposal to tax wealthy Americans with more than $ 50 million in assets.

The Washington Post reports that Warren's "wealth tax" is intended to remedy the situation. the increasing inequality of income and wealth in the country.

This proposal could help the Progressive MP stand out in the presidential field of the 2020 Democratic Party, even though it should be carefully examined by her opponents.

Emmanuel Saez, a leftist economist. advising Warren, said his plan was to impose a 2% tax on Americans with more than $ 50 million in assets and 3% on those with more than $ 1 billion in assets.

million. Saez said that nearly $ 2.75 billion over a 10-year period would be taxed to about 75,000 families. This equates to less than 0.1% of US households, he noted.

"The Warren wealth tax is quite high. We think this could have a significant impact on the concentration of wealth in the long run, "said The Post Saetz, an economist at the University of California at Berkeley.

Warren's proposal differs from marginal rate of taxation of 70% of income.Over $ 10 million recently spent by freshman. Alexandria Ocasio-Cortez Alexandria Ocasio-CortezOn Money: closing the market Day 33 | Fighting for the state of the Union | Pelosi does not say Trump speech Tuesday | Trump teasing the address 'alternative' | A counselor from Trump warns that a halt could be detrimental to growth | Mulvaney seeks out list of vulnerable programs Ocasio-Cortez invokes Bible in response to White House on climate change Dell chief executive rejects tax plan Ocasio-Cortez at Davos MORE (DN.Y.), M And it shows how the Democratic Party, as Saetz and his colleague Gabriel Zucman point out

"This is a very interesting development with profound causes: the fact that inequalities have increased so much, especially in terms of wealth, and Saetz told The Post that his current tax system did not tax the richest people very well, "said Saetz.

"It's a pretty dramatic change that shows how much the party has evolved," Jim Manley, assistant to former Senate Majority Leader Harry Reid Harry Mason ReidS Health Care during the night: Trump calls for repression of medical bills by surprise | Trump officials grant religious exemption to foster care program | Uninsured rate at the highest level since 2014 | Juul hired the former chief of staff of Harry Reid. How the Clinton machine flooded the FBI with Trump-Russia dirt … until agents were reluctant to change the rules of the game. Republican candidates in the Senate quickly change gears for Trump MORE nominees [19659003] (D-Nev.). "Not all party members are at the present time, but many people."

A source told The Post that Warren's proposal included a handful of elements aimed at fighting against tax evasion, including a mandatory audit rate requiring internal control. Revenue Service (IRS) to audit a number of people who would pay a wealth tax.

In addition, a single tax penalty would be imposed on people with more than $ 50 million in assets and attempting to give up their US citizenship. .

Warren's campaign team did not immediately respond to a request for comment.

The two-term senator distinguished herself during her tenure as Harvard professor and chair of the Congressional Monitoring Panel, while addressing the negative consequences of the situation. and the middle class of the 2008 financial crisis. She remained a strong advocate of consumer protection.

On the eve of the New Year, Warren announced that she was forming an exploratory committee to run for president.