Tax on Extreme Wealth
In order to reduce the outrageous level of inequality that exists in America today and to rebuild the disappearing middle class, we must establish an annual tax on the extreme wealth of the top 0.1%.
- Establish an annual tax on the extreme wealth of the top 0.1 percent of U.S. households.
- Only apply to net worth of over $32 million and anyone who has a net worth of less than $32 million, would not see their taxes go up at all under this plan.
- Will raise an estimated $4.35 trillion over the next decade and cut the wealth of billionaires in half over 15 years, which would substantially break up the concentration of wealth and power of this small privileged class.
- Ensure that the wealthy are not able to evade the tax by implementing strong enforcement policies.