An annual wealth tax, levied on those who make more than $50 million a year, could solve a number of festering problems, from raising revenue for pandemic relief to slowing a democracy-disrupting concentration of power. It’s an idea whose time has come.
Sen. Elizabeth Warren, D-Mass., Reps. Pramila Jayapal, D-Wash., and Brendan Boyle, D-Pa., recently introduced legislation to levy a 2% annual tax on wealth starting at $50 million, rising to 3% on fortunes of more than $1 billion.
Polls show that the idea of a national wealth tax has overwhelming popular support,…
