Quote Originally Posted by frugal-one View Post
If I remember correctly, Elizabeth Warren had a proposal to do just that! I don't remember the specifics but it was a small amount the "rich" had to contribute to balance things out.

ETA: Here it is... https://elizabethwarren.com/plans/ultra-millionaire-tax
Apart from its questionable constitutionality, a federal wealth tax presents some interesting legal and technical problems for a new valuation bureaucracy. Pricing art collections, yachts and the unrealized gains on investment securities and real estate will occupy a generation of lawyers, accountants and assorted experts. Shifting assets to friendlier shores will also become a thriving industry.