U.S. Senator Elizabeth Warren's proposed 2 percent wealth tax on very-high-net-worth people would shrink the U.S. economy, a new study found.
According to CNBC, "Warren's wealth tax would also impose a 2% tax on net worth between $50 million and $1 billion and scale upward by wealth brackets until the final 6% rate." However, analysis from the nonpartisan Penn Wharton Budget Model released Thursday contradicts Warren's claims of how the tax would affect the country.
U.S. Senator Elizabeth Warren's proposed 2 percent wealth tax on very-high-net-worth people would shrink the U.S. economy, a new study found.
According to CNBC, "Warren's wealth tax would also impose a 2% tax on net worth between $50 million and $1 billion and scale upward by wealth brackets until the final 6% rate." However, analysis from the nonpartisan Penn Wharton Budget Model released Thursday contradicts Warren's claims of how the tax would affect the country.…
