New poll: Americans overwhelmingly support taxing the wealth of the very rich

[Yo_Mama_Been_Loggin]

A new poll is finding broad support for an annual wealth tax on people with assets of at least $50 million, underlining support for taxing the rich.

The Hill-HarrisX poll released Wednesday found that 74 percent of those surveyed back an annual 2 percent tax on people with assets over $50 million, and a 3 percent tax on people with assets in excess of $1 billion.

The poll showed support for the idea among people of all ages and races and from both political parties.

Sen. Elizabeth Warren (D-Mass.) proposed the wealth tax last month. She is one of several high-profile Democrats calling for higher taxes on the wealthy.

Just 26 percent of registered voters said they were opposed to the wealth tax.

https://thehill.com/hilltv/what-americas-thinking/428747-new-poll-americans-overwhelmingly-support-taxing-the-wealth-of

[lagomorph777]

1. I don't support a 2% tax on billionaires.

It should be more like 10%.

[unblock]

2. a 2% tax on *wealth* is more than you might think.

first, it's annual. so after a decade, that's about 20% of wealth paid to the federal government, on top of the income taxes that should be around 70% of income.

second, wealth may represent a lifetime (or even generations) of accumulations, which could be far more than what even a billionaire can earn in a single year. so it's usually much larger than 2% of *income*.


more practically, i can see billionaires tolerating a 2% wealth tax, begrudginly. they always have plenty enough liquidity to pay that. but a 10% wealth tax, they might routinely have to sell buildings or whatever to pay that each year. i can see them objecting to that enough to leave the country and do everything to evade or avoid such taxes.

[riversedge]

3. Good to see this.

[bdamomma]

4. We need to push this.

this may evolve into something, let's get them in their pockets.