Elizabeth Warren: “You’ve been paying a wealth tax for years…”

Elizabeth Warren has an uncanny ability to explain her policy proposals in easy to understand ways. She did that yesterday at her town hall in Nevada, and one line stood out. It explains her proposed wealth tax:


As a reminder, here’s what Warren is proposing:


When I lived in Switzerland, I was subject to a wealth tax, as was everyone (I didn’t actually own enough to pay anything meaningful, but that’s besides the point). In the canton I lived in, you submitted a balance sheet along with your taxes, listing all your assets, and liabilities. Your net worth was then subject to the cantonal wealth tax. So there is an easily understood mechanism to assess and collect wealth taxes. 

Warren’s also doing some pretty effective local campaigning:


— @subirgrewal

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