Sen Elizabeth Warren (D-MA) introduces the “Ultra-Millionaire Tax Act,” which imposes a 2 cent wealth tax on “fortunes above $50 million.”
"It is time for a wealth tax in America."
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Sen. Warren introduces Ultra-Millionaire Tax Act: "During the pandemic, the billionaires have increased their wealth by $1.3 trillion...A 2-cent wealth tax means they just don't grow it quite as fast, but that 2 cents is an enormous difference for the rest of America."
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“The president strongly believes that the ultra-wealthy and corporations need to finally start paying their fair share.”
shares Biden’s view on ’s proposed “ultra-millionaire” tax trib.al/2IOHsSU
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Right now, the 400 wealthiest Americans own more wealth than ALL Black households combined.
The ultra-millionaire tax is about economic and racial justice. It’s time for a #WealthTax.
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While discussing her proposed ultra-millionaire tax, (D-MA) tells :
“You know, Andrew, I hope you’re embarrassed to ask if 2 cents is confiscatory.”
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"A two-cent wealth tax is what yields the revenue that we need," says on her proposal for an Ultra-Millionaire Tax. "It's the fairest, it's the most progressive and here's the thing--it helps level the playing field just a little bit."
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🙋♂️Raise your hand if you support Senator Elizabeth Warren's Ultra-Millionaire Tax Act.
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Sen. Elizabeth Warren will unveil legislation today to create a wealth tax for high net-worth households. The bill is called the Ultra-Millionaire Tax Act.
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A #WealthTax will help create a more fair and just economy, while building up our community's health care, schools, and green union jobs.
Thank you Sen Warren, Rep Jayapal, and Rep. Boyle for introducing the Ultra-Millionaire Tax Act!
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It’s been a busy week in Congress:
✅ PASSED: HR1
✅ PASSED: The George Floyd Justice in Policing Act
✅ INTRODUCED: The Ultra-Millionaire Tax.
And we’re just getting started.
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Under my ultra-millionaire tax plan, 100,000 households in the entire country would pay a 2-3% tax on their net worth.
Want to know if you’ll be affected by our #WealthTax? Just answer this 1 question: do you have a net worth of over $50M?
If no, your taxes won’t go up a cent⬇️
- Yes8.6%
- No91.4%
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Sen Elizabeth Warren, Rep Pramila Jayapal & Rep Brendan Boyle introduced the Ultra-Millionaire Tax Act, a wealth tax that would raise $3 trillion over 10 years ― and only apply to fortunes of $50 million or more.
Nobody working full-time should live in poverty to sustain greed.
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"If Janet Yellen is all on board except for implementation we are in really good shape," says Senator on her proposal for an Ultra-Millionaire Tax. "We learned from some of the mistakes they made in Europe. This version of the wealth tax covers all of your property."
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Jeff Bezos saw his wealth rise by around $75bn in 2020 which means he would pay $5bn a year under Warren’s ‘Ultra-Millionaire’ tax plan. We'll finally be in the same tax bracket. 😒
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A calculator for billionaires: Some billionaires seem confused about how much they would pay under Elizabeth Warren’s Ultra-Millionaire Tax. Don’t worry, now there's a calculator for that:
bit.ly/2CoUbpu
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CNBC: Bezos would owe $5.7 billion in taxes for 2020 under Ultra-Millionaire Tax Act
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Jeff Bezos would owe $5.7 billion in taxes for 2020 under the proposed Ultra-Millionaire Tax Act.
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The Ultra-Millionaire Tax Act would produce at least $3 trillion dollars in revenue to fund child care, education, infrastructure, & critical resources to support our communities.
Proud to support this effort by & . Let’s get this done.
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Reading about the ultra millionaire tax act. So let's say i start a startup that raises a ton of money, and my illiquid shares are worth 100mm. They'll let me defer 1mm annual tax for 5 years.. then let's say the company fails and i made $0. I still owe $5mm?
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This week, joined and others to sponsor the #UltraMillionaireTax Act. Jayapal, who represents Washington in Congress, spoke with KNKX's about the measure and where she'd like to see the revenue spent. bit.ly/30e8ZDk
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