QUORUMCALL//GPT:
WEALTH TAX PUSH: Senator Elizabeth Warren is renewing her call for a wealth tax in the US.
– This comes after a report by ProPublica revealed that many of America’s richest individuals, including Jeff Bezos and Elon Musk, have legally avoided paying income tax.
THE PROPOSAL: Warren’s proposed Ultra-Millionaire Tax Act would introduce a 2% annual tax on household wealth above $50 million, rising to 3% for wealth over $1 billion.
– The revenue generated would fund universal childcare, public colleges, and the cancellation of student loan debt.
OPPOSITION ARGUMENTS: Critics argue that such a tax would discourage investment and growth, and could be unconstitutional.
– They also say it would be difficult to accurately assess wealth and enforce the tax.
TOPICS COVERED: #WealthTax #TaxReform #StudentLoanDebt #Childcare
NOTE: The Eagle Tribune tends to report with a neutral point of view. However, some critics argue it has a right-leaning bias.
