QUORUMCALL//GPT:
THE PROPOSAL
• Senator Elizabeth Warren has proposed a plan to impose a wealth tax, a capital gains tax, and allocate $100 billion for increasing tax audits.
DETAILS
• Warren’s wealth tax would target households with a net worth above $50 million, imposing a 2% annual tax. Households with a net worth above $1 billion would be taxed at 3%.
• The capital gains tax, referred to as the “Real Corporate Profits Tax,” aims to prevent tax evasion by multinational corporations. The plan would impose a 7% tax on profits over $100 million.
• The additional $100 billion for tax audits would assist in ensuring wealthy individuals and corporations pay their fair share of taxes.
TOPICS COVERED
#WealthTax #CapitalGainsTax #TaxAudits
NOTE
Jonathan Turley’s blog is known for its legal analysis and commentary on contemporary political issues. The author of this post, while unnamed, presents Senator Warren’s plan without an apparent bias, providing a straightforward summary of its key points.
