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  2. Wealth tax - Wikipedia

    en.wikipedia.org/wiki/Wealth_tax

    A wealth tax (also called a capital tax or equity tax) is a tax on an entity's holdings of assets or an entity's net worth. This includes the total value of personal assets, including cash, bank deposits, real estate, assets in insurance and pension plans, ownership of unincorporated businesses , financial securities , and personal trusts (a ...

  3. Tax policy and economic inequality in the United States

    en.wikipedia.org/wiki/Tax_policy_and_economic...

    The tax would raise around $2.75 trillion over 10 years, roughly 1% of GDP on average per yearuld raise the total tax burden for those subject to the wealth tax from 3.2% relative to their wealth under current law to about 4.3% on average, versus the 7.2% for the bottom 99% families. [79]

  4. Wealth Taxes: Why Advocates Argue Millionaires Should Pay ...

    www.aol.com/wealth-taxes-why-advocates-argue...

    As tax season comes into full swing, and the country grapples with how to move forward now that we've reached the debt ceiling, many people are bringing up the idea of "wealth taxes" or ...

  5. J.D. Vance Says Childless Americans Should Pay Higher Taxes ...

    www.aol.com/news/j-d-vance-says-childless...

    The maximum tax credit is $2,000, so by the time you've earned $40,000 additional dollars (as a single filer) or $80,000 additional dollars (as a joint filer), you get zero child tax credit.

  6. Why taxing US billionaires’ wealth – as Biden tried to do ...

    www.aol.com/news/why-taxing-us-billionaires...

    Elon Musk is currently the world’s richest person. AP Photo/Matt RourkeThe speed with which a tax on billionaires came and went as a means to pay for President Joe Biden’s economic agenda ...

  7. Why a 70% tax rate on the rich wouldn’t work, according to a ...

    www.aol.com/article/finance/2019/02/26/why-a-70...

    Over 60 percent of those surveyed “support a wealth tax on households that have a net worth of at least $50 million.” Less than half — 45 percent — support Ocasio-Cortez’s plan. But ...

  8. Ultra-Millionaire Tax Act of 2021 - Wikipedia

    en.wikipedia.org/wiki/Ultra-Millionaire_Tax_Act...

    In many European countries, wealth taxes were a failure. In 2018, president Emmanuel Macron cancelled France's wealth tax, which had caused capital flight, brain drain, loss of jobs, a net loss in tax revenue. The rate was charged on individuals with a net worth over €1.3m (£1.14m), with the rate ranging from 0.5% to 1.5% on assets over €10m.

  9. The big flaw in Biden’s billionaire tax proposal, according ...

    www.aol.com/finance/big-flaw-biden-billionaire...

    Opponents of a wealth tax reason that the share of federal taxes paid by the top 1% is already adequate. In 2021, the top 1% paid over $1 trillion, almost half of all tax revenue collected ...