Senator Warren and other progressive lawmakers want “millionaire” tax
In a bid to get more tax from wealthy and firms, some senators are proposing a wage hike. Though there is some resistance among lawmakers, they insist it is the best for everyone. Senators propose tax for wealthy people Senator Elizabeth Warren has joined other lawmakers and the US House like Pramila Jayapal and Branda Boyle to propose a tax on households worth more than $60 million. The progressive lawmakers said on Tuesday that the tax dubbed' Ultra-Millionaire tax act' is to put everyone on the same economic pedestal. This is in line with the 3% annual tax on homes and trust valued between & +$60 billion and $1 billion. However, for all households worth over $1 billion, they will be taxed 4%. This lawmakers group says the proposal would give the US economy $4 trillion in revenue...
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