Taxing The Rich

Ken AshfordClass Warfare, Economy & Jobs & Deficit, Occupy Wall StreetLeave a Comment

Read this. You’re smarter than I am:

The authors here estimated (very roughly) that a 2% wealth tax limited to top 0.1% (net worth over ~$43 million) would raise $2.6 trillion over ten years, assuming a 15% avoidance rate and no other behavioral responses…. or…

… a 2% wealth tax limited to top 1% (net worth over ~$10 million) would raise $5.1 trillion over ten years, assuming a 15% avoidance rate and no other behavioral responses.