Warren's Ultra-Millionaire Tax Act: A New Wealth Tax
US News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Senator Elizabeth Warren and progressive lawmakers propose the Ultra-Millionaire Tax Act, imposing a two to three percent annual tax on wealth over fifty and one billion dollars respectively. The bill aims to address income inequality, potentially generating six trillion dollars for priorities like universal child care and free community college. However, it faces opposition from Republicans and business groups, setting the stage for a contentious debate on wealth taxation.
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