Wealth tax explainer: Why Elizabeth Warren and billionaires like George Soros alike are calling for a specialized tax on the ultra-wealthy
Business Insider -

A wealth tax like the one proposed by presidential candidate Sen. Elizabeth Warren would make ultra-wealthy Americans pay the federal government a small percentage of their net worth each year.

Former Rep. John Delaney criticized the proposal as unrealistic during the second round of Democrat primary debates on July 30.

Tax experts and billionaires alike have said the revenue from a wealth tax could be used to fight climate change and repair the country's infrastructure — if the IRS can find a...

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