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  2. Ultra-Millionaire Tax Act of 2021 - Wikipedia

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

    The Ultra-Millionaire Tax Act of 2021 is a proposed bill in the United States Congress, which would impose a tax on the wealth of the top 0.05% of Americans. The act was proposed and introduced by Senator Elizabeth Warren (D-Mass), Representative Pramila Jayapal , and Representative Brendan Boyle . [ 1 ]

  3. Tax policy and economic inequality in the United States

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

    Together, the top 20% of households owned 93% of the financial wealth in the United States. Financial wealth is defined as "net worth minus net equity in owner-occupied housing." [30] In real money terms and not just percentage share of wealth, the wealth gap between the top 1% and the other quartiles of the population is immense. The average ...

  4. History of taxation in the United States - Wikipedia

    en.wikipedia.org/wiki/History_of_taxation_in_the...

    The estate tax is one part of the Unified Gift and Estate Tax system in the United States. The other part of the system, the gift tax, imposes a tax on transfers of property during a person's life; the gift tax prevents avoidance of the estate tax should a person want to give away his/her estate just before dying.

  5. Elizabeth Warren's proposed wealth tax will raise $1 trillion ...

    www.aol.com/article/news/2019/12/12/elizabeth...

    Sen. Elizabeth Warren's proposed wealth tax would set back US economic growth by 0.9% in 2050, according to a new study released Thursday, possibly undercutting the signature plan helping to power ...

  6. Revenue Act of 1935 - Wikipedia

    en.wikipedia.org/wiki/Revenue_Act_of_1935

    The Revenue Act of 1935, 49 Stat. 1014 (Aug. 30, 1935), raised federal income tax on higher income levels, by introducing the "Wealth Tax". [1] It was a progressive tax that took up to 75 percent of the highest incomes (over $1 million per year). [2] The Congress separately also passed new taxes that were regressive, especially the Social ...

  7. Billionaire Democratic supporter calls Inslee's wealth tax ...

    www.aol.com/billionaire-democratic-supporter...

    The DOR report also predicted a wealth tax could be difficult to administer due to legal challenges and risks that wealthy individuals subject to the tax would up and leave the state. Hanauer ...

  8. More Americans Push For Wealth Tax Compared To Europe's Top ...

    www.aol.com/more-americans-push-wealth-tax...

    In the United States, support for this idea is surprisingly high — 67% support a wealth tax on the wealthy, matching the levels in France and Germany (67% and 68%, respectively).

  9. Taxpayer Bill of Rights - Wikipedia

    en.wikipedia.org/wiki/Taxpayer_Bill_of_Rights

    Section 2 also states "The General Assembly finds and declares that taxes are the most sensitive point of contact between citizens and their government." Section 4 explains "the Department of Revenue shall have the following powers and duties to protect the rights of taxpayers," and list 10 different responsibilities the government has.