Sen. Elizabeth Warren plans to unveil legislation on Monday that would tax the net worth of the wealthiest Americans, a proposal aimed at reducing income inequality in the U.S.
The measure would impose a 2% annual tax on the net worth of U.S. households above $50 million and would add an additional 1% levy on households worth more than $1 billion. It's nearly identical to the wealth tax that Warren introduced during her failed 2020 presidential campaign. READ MORE