I think a wealth tax is an awfully dangerous slippery slope. Confiscating people’s property (money)? Yikes.
I do agree with another tax tier for super high income. Although I think the other tiers are too high and people like me pay too much.
It really does not seem much different than what happens today. If you are worth $100MM and are so over-leveraged that you can afford to pay a 2% tax on your wealth over $50MM, you have bigger problems.
Most of my income comes through capital gains and I would be fine paying higher than 15% rate over $1MM each year. It certainly would not affect my work ethic. Now would I want my increased tax dollars paying for free health care for illegals? Absolutely not. I spit out my martini when Warren and Sanders raised their hands yes to that question during the debate.