Sen. Elizabeth Warren (D-MA) on Tuesday reintroduced her 'Ultra-Millionaire' Tax Act, by which the government would confiscate 2% from households worth between $50 million and $1 billion, and 3% on households worth over $1 billion.
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Warren's proposal also includes a 40% "exit tax" on people worth $50 million or more who attempt to renounce their US citizenship to avoid paying the tax (which would obviously happen the moment this bill had a chance in hell of passing).
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>Sen. Elizabeth Warren (D-MA) on Tuesday reintroduced her 'Ultra-Millionaire' Tax Act, by which the government would confiscate 2% from households worth between $50 million and $1 billion, and 3% on households worth over $1 billion.
.
.
Warren's proposal also includes a 40% "exit tax" on people worth $50 million or more who attempt to renounce their US citizenship to avoid paying the tax (which would obviously happen the moment this bill had a chance in hell of passing).
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