Now she's asking for a very MODEST wealth tax of 2 Cents ($0.02) on every dollar made OVER Your 50ith million dollar made in that tax year. Now if that's what she's really asking, and her math is correct, and it should be correct or very close to correct because in a game of Politics people will jump on you for any fault (Real or imagined) then getting 3 Trillion in extra tax revenue over 10 years from taking an extra 2 cents in tax per dollar gained over 50 million a year is insanely low tax, and still shows how much wealth is in America's rich if that can still generate 3 Trillion in Extra revenue.
In times before Ronald Reagan we often had a 70-90% Wealth tax on high earners and corporations. This helped pay for our space program, or high standard (for the time) of education, and infrastructure (roads, dams, power grid, the building of the Internet and greater WWW) and Science funding.
Think about that a 70-90% Tax means $0.70 - $0.90 of every dollar made is going to the government if you are a wealthy person or company. And we STILLL had Uber Rich people for their time in pre Reagan America. And all Ms. Warren is asking is for $0.02 per every dollar earned over 50 million in a year, and even with that tax, could finance a stronger nation.
And think about that, if thats what she is really only asking.. Theirs still enough wealth being generated that a $0.02 extra tax on any dollar ($1.00) over $50,000,000 a year can generate an extra
3 Trillion over 10 years. Then we really should put that up to $0.08
and take 12 Trillion off our current 23 Trillion debt.
