A better way to tax the rich
American wealth inequality is staggering. A wealth tax, which would hone in on the money people actually have, rather than just the money we earn and spend, could be a solution. Become a Video Lab member An astounding amount of American wealth lies with very few ultrarich people. But it isnt taxed by the federal government. That s because most of the taxes we pay only happen when money changes hands when we earn it or spend it. This is what a recent proposal from Senator Elizabeth Warren tries to fix. Her plan is to tax fortunes greater than 50 million at 2 percent each year, and wealth greater than 1 billion at 3 percent. When you add it all up, those tiny slivers of massive fortunes would raise enough revenue to pay for huge programs for everyone else. is a news website that helps you cut through the noise and understand what s really driving the events in the headlines. Check out Watch our full video catalog: Follow Vox on Facebook: Or Twitter:
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