If enacted, the law would generally impose an annual 2 percent wealth tax on the net value of a taxpayer's total assets above $50 million.
Elizabeth Warren
The Public Record
Elizabeth Ann Warren is an American attorney, academic, and politician serving as the senior United States senator from Massachusetts since 2013. A member of the Democratic Party, she has been a prominent advocate for consumer protection, economic equality, and corporate regulation. Warren gained national recognition for her work in establishing the Consumer Financial Protection Bureau and has focused on issues such as student debt relief and healthcare reform during her tenure in the Senate.
Based on fact, the wealthiest in this country are paying less in taxes than everyone else.
Given how far we have let this inequality grow, I do not see how we can address this problem other than with a wealth tax.
I'm disappointed that Mr. Cooperman decided he was more comfortable taking softball questions on cable news than subjecting his views to debate in the U.S. Senate.
But history tells us that such massive inequality is invariably correlated to corruption, unrest, and failed governance.
The only people who stand to benefit from a weaker IRS are wealthy tax cheats.
We should not have a tax system that allows Fortune 500 companies to not pay federal income tax at all.