Elizabeth Warren invited a billionaire who hates her proposed wealth tax to a Senate hearing she chaired about taxes yesterday. He refused to show up.
So instead, Warren questioned a rich Disney heiress. You won't believe what the heiress said.
A wealth tax on fortunes over $50 million is very popular. It is even more popular when it funds priorities like child care, health care, and jobs in our communities.
As President Biden calls for passage of his American Jobs Plan and American Families Plan that invest in American infrastructure and jobs, every member of Congress should be proud to fund these investments by signing on to a wealth tax.
Since the start of the COVID crisis, billionaire wealth has increased by 40 percent. Jeff Bezos alone has gotten $70 billion richer according to the Washington Post. But ten million Americans remain out of work and millions of families are struggling to keep a roof over their head and food on the table.
Gene Sperling, the top economist for Presidents Obama and Clinton, has endorsed Warren's plan. "We now have a small annual tax on the main source of wealth of working families: property tax on homes. A wealth tax like Elizabeth Warren proposes just applies the same to the main sources of wealth over $50 million -- in a time of obscene wealth inequality."
This plan would generate at least $3 trillion -- which can help create millions of jobs and fund child care, home care, debt-free college, and much more.
We're keeping members of Congress informed as momentum for a wealth tax grows. We'll also give you phone numbers and a script so you can call your legislators after you sign.
Thanks for being a bold progressive.
-- The PCCC Team (@BoldProgressive)
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