NRPLUS MEMBER ARTICLE E lizabeth Warren’s wealth tax is back. Together with a handful of co-sponsors including Bernie Sanders, she’s introducing a bill that would impose a 2 percent (excuse me, “two-cent”) annual tax on wealth above $50 million, plus an extra 1 percent tax on wealth above $1 billion. The tax on billionaires would automatically rise to 6 percent total if the U.S. enacted single-payer health care.
Conservatives tend to recoil at this kind of thing for a number of reasons. For one, the federal government already taxes people’s money as it comes in, through taxes on income, capital gains, inherited estates, etc. A …
