Presidential Hopeful Elizabeth Warren unveiled a proposal to take $2.75 trillion from a select few Americans, Thursday. She’s calling it a “wealth tax,” thought the details of the plan are not precisely known.
CBS News has more:
The new tax from Warren, who recently announced her bid to challenge President Donald Trump in 2020, would only apply to Americans with more than $50 million in assets.
Her Twitter announcement on Thursday came hours after an economist who advises her told CNBC he believed the proposal would soon be made official.
Warren’s idea comes alongside other Democratic lawmakers’ plans to raise taxes on the wealthiest Americans to pay for ambitious policy goals, such as a “green new deal” that aims to reduce economic inequality and combat the causes of climate change.
The development has not gone unnoticed by affluent investors and executives, many of whom are meeting this week at the World Economic Forum in Davos, Switzerland.